RENN Fund (RCG) insider Murray Stahl adds to direct and indirect holdings

Rhea-AI Filing Summary

RENN Fund, Inc. president and co-portfolio manager Murray Stahl, who is also a 10% owner, reported multiple open-market purchases of the fund’s common stock on January 8, 2026 at $2.60 per share. The filing shows a direct purchase of 360 shares, bringing his directly held position to 139,094 shares.

Additional purchases at the same price were reported in accounts categorized as indirect holdings, including 18 shares in a spouse account and various amounts held through entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. The filing notes that Stahl disclaims beneficial ownership in each indirect account except to the extent of his 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)
01/08/2026

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	01/08/2026		P		360	A	$2.6	139,094	D
Common Stock	01/08/2026		P		18	A	$2.6	4,904(1)	I	Spouse
Common Stock	01/08/2026		P		180	A	$2.6	127,308(1)(2)	I	Fromex Equity Corp.
Common Stock	01/08/2026		P		180	A	$2.6	312,560(1)(2)	I	FRMO Corp.
Common Stock	01/08/2026		P		296	A	$2.6	350,098(1)(2)	I	Horizon Common Inc.
Common Stock	01/08/2026		P		18	A	$2.6	10,980(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/08/2026		P		82	A	$2.6	63,678(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 139,094 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	01/09/2026
	** 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 activity did RENN Fund (RCG) report for Murray Stahl?

The filing reports that Murray Stahl, president, co-portfolio manager, and a 10% owner of RENN Fund, Inc., made open-market purchases of the fund’s common stock on January 8, 2026 at $2.60 per share, both directly and through several indirect accounts.

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

After the reported transaction on January 8, 2026, Murray Stahl directly holds 139,094 shares of RENN Fund, Inc. common stock.

What direct purchase of RENN Fund (RCG) stock did Murray Stahl report?

Murray Stahl reported a direct open-market purchase of 360 shares of RENN Fund common stock at a price of $2.60 per share on January 8, 2026.

Which indirect accounts were involved in the reported RENN Fund (RCG) share purchases?

Indirect holdings in the filing include accounts identified as Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each holding RENN Fund common stock after the transactions.

What does Murray Stahl disclose about beneficial ownership of the indirect RENN Fund (RCG) accounts?

The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Were the reported RENN Fund (RCG) insider transactions purchases or sales?

All reported transactions are coded "P", indicating open-market or private purchases of RENN Fund common stock on January 8, 2026 at $2.60 per share.