Murray Stahl adds RENN Fund (RCG) stock across direct and indirect accounts

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl reported open-market purchases of a total of 1,128 shares of RENN Fund common stock at a price of $3.25 per share on March 30, 2026, across direct and indirect accounts.

Following these transactions, he holds 158,888 shares directly and additional shares indirectly through 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. He disclaims beneficial ownership of the indirect holdings except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,128 shares ($3,666)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,128 shs ($4K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	354	$3.25	$1K
Purchase	Common Stock	18	$3.25	$58.50
Purchase	Common Stock	180	$3.25	$585.00
Purchase	Common Stock	180	$3.25	$585.00
Purchase	Common Stock	296	$3.25	$962.00
Purchase	Common Stock	18	$3.25	$58.50
Purchase	Common Stock	82	$3.25	$266.50

Holdings After Transaction: Common Stock — 158,888 shares (Direct); Common Stock — 5,894 shares (Indirect, Spouse)

Footnotes (1)

1. This figure does not include 158,888 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.

Key Figures

Total shares purchased: 1,128 shares Purchase price: $3.25 per share Direct holdings after trade: 158,888 shares +4 more

7 metrics

Total shares purchased 1,128 shares Open-market buys on March 30, 2026

Purchase price $3.25 per share Common Stock transactions

Direct holdings after trade 158,888 shares Shares held directly by Murray Stahl

Direct purchase tranche 354 shares Direct open-market purchase at $3.25

Spouse account purchase 18 shares Indirect ownership via spouse at $3.25

Fromex Equity Corp. purchase 180 shares Indirect entity account at $3.25

FRMO Corp. purchase 180 shares Indirect entity account at $3.25

Key Terms

open-market purchase, indirect ownership, beneficial ownership, pecuniary interest

4 terms

open-market purchase financial

"transaction_action: "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

indirect ownership financial

"ownership_type: "indirect" with nature_of_ownership such as Spouse"

beneficial ownership financial

"Stahl disclaims beneficial ownership except to the extent of his pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"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 NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/30/2026		P		354	A	$3.25	158,888	D
Common Stock	03/30/2026		P		18	A	$3.25	5,894(1)	I	Spouse
Common Stock	03/30/2026		P		180	A	$3.25	137,208(1)(2)	I	Fromex Equity Corp.
Common Stock	03/30/2026		P		180	A	$3.25	322,460(1)(2)	I	FRMO Corp.
Common Stock	03/30/2026		P		296	A	$3.25	366,378(1)(2)	I	Horizon Common Inc.
Common Stock	03/30/2026		P		18	A	$3.25	11,970(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/30/2026		P		82	A	$3.25	68,188(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 158,888 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	03/31/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

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

Murray Stahl reported buying a total of 1,128 shares of RENN Fund common stock in open-market transactions at $3.25 per share. The purchases occurred across his direct account and several indirect accounts associated with entities and his spouse.

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

After the reported transactions, Murray Stahl directly holds 158,888 shares of RENN Fund common stock. This direct position is separate from additional shares held indirectly through his spouse and various related entities noted in the filing.

Which accounts were used for the RENN Fund (RCG) insider purchases?

The reported purchases were made in Stahl’s direct account and indirect accounts held by his spouse and entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

What is the nature of Murray Stahl’s indirect ownership in RENN Fund (RCG)?

The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership of the shares except to the extent of his pecuniary interest, if any. This means his economic interest may be less than the full share amounts reported.

What transaction code was used for Murray Stahl’s RENN Fund (RCG) trades?

The transactions are coded P, indicating open-market purchases or private transaction purchases. Each entry in the filing lists the security as common stock with a transaction price of $3.25 per share on March 30, 2026.