RENN Fund (NYSE: RCG) president adds 1,134 shares in open-market buys

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl, a more-than-10% holder, reported open-market purchases of 1,134 shares of common stock at $3.28 per share on March 25, 2026. The trades were split across his direct account and several indirect accounts held by his spouse and related entities.

Following these transactions, Stahl directly holds 157,814 shares. Indirect accounts including Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC hold additional shares, for which he disclaims beneficial ownership except for 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

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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 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)
03/25/2026

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	03/25/2026		P		360	A	$3.28	157,814	D
Common Stock	03/25/2026		P		18	A	$3.28	5,840(1)	I	Spouse
Common Stock	03/25/2026		P		180	A	$3.28	136,668(1)(2)	I	Fromex Equity Corp.
Common Stock	03/25/2026		P		180	A	$3.28	321,920(1)(2)	I	FRMO Corp.
Common Stock	03/25/2026		P		296	A	$3.28	365,490(1)(2)	I	Horizon Common Inc.
Common Stock	03/25/2026		P		18	A	$3.28	11,916(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/25/2026		P		82	A	$3.28	67,942(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 157,814 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	03/26/2026
	** 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 transactions did RENN Fund (RCG) report for Murray Stahl?

Murray Stahl reported open-market purchases totaling 1,134 shares of RENN Fund common stock at $3.28 per share on March 25, 2026. These buys were spread across his direct holdings and several indirect accounts associated with his spouse and related entities.

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

After the reported purchases, Murray Stahl directly holds 157,814 RENN Fund common shares. This figure only reflects his direct ownership; separate indirect holdings are maintained through his spouse and multiple related entities that collectively hold additional shares of the fund.

Which indirect accounts bought RENN Fund (RCG) shares in this Form 4?

Indirect purchases were reported in accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each acquiring small blocks of RENN Fund common stock at $3.28 per share.

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

The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any. This means economic exposure may exist, but he does not assert full beneficial ownership over all indirectly held shares.

Were the RENN Fund (RCG) insider trades classified as buys or sells?

All reported transactions were classified as purchases. The Form 4 shows seven open-market buys of RENN Fund common stock, totaling 1,134 shares, and no reported sales, exercises, gifts, or tax-withholding dispositions in this particular filing for March 25, 2026.

What role does Murray Stahl hold at RENN Fund (RCG)?

Murray Stahl is identified as President and Co-Portfolio Manager of RENN Fund, Inc., and is also a more-than-10% owner. His leadership position and significant ownership stake make his open-market trading activity particularly visible to investors monitoring insider behavior.