RENN Fund (RCG) insider Murray Stahl reports new stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider reporting shows that President and Co-Portfolio Manager Murray Stahl, who is also a 10% owner, reported multiple open-market purchases of RCG common stock on 01/07/2026 at $2.64 per share. He acquired 360 shares directly, bringing his directly held position to 138,734 shares. Additional purchases at the same price were made in accounts reported as indirectly owned, including 18 shares held by his spouse and blocks of 180 shares each for Fromex Equity Corp. and FRMO Corp. The filing also reports post-transaction indirect holdings such as 349,802 shares for Horizon Common Inc. and 312,380 shares for FRMO Corp. Stahl disclaims beneficial ownership of each indirect account except to the extent of his pecuniary interest, if any.

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)
01/07/2026

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	01/07/2026		P		360	A	$2.64	138,734	D
Common Stock	01/07/2026		P		18	A	$2.64	4,886(1)	I	Spouse
Common Stock	01/07/2026		P		180	A	$2.64	127,128(1)(2)	I	Fromex Equity Corp.
Common Stock	01/07/2026		P		180	A	$2.64	312,380(1)(2)	I	FRMO Corp.
Common Stock	01/07/2026		P		296	A	$2.64	349,802(1)(2)	I	Horizon Common Inc.
Common Stock	01/07/2026		P		18	A	$2.64	10,962(1)(2)	I	Horizon Kinetics Hard Assets, LLC
Common Stock	01/07/2026		P		82	A	$2.64	63,596(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 138,734 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 did the latest Form 4 for RENN Fund (RCG) report about insider activity?

The Form 4 reports that Murray Stahl, President/Co-Portfolio Manager and a 10% owner, reported multiple open-market purchases of RENN Fund (RCG) common stock on 01/07/2026 at $2.64 per share, including both direct and indirect holdings.

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

After the reported transaction on 01/07/2026, Murray Stahl directly held 138,734 shares of RENN Fund (RCG) common stock, following a direct purchase of 360 shares at $2.64 per share.

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

Yes. The Form 4 shows purchases at $2.64 per share in indirect accounts, including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets, LLC, and Horizon Kinetics Asset Management LLC, as well as an account held by his spouse.

What indirect RENN Fund (RCG) shareholdings are reported for entities associated with Murray Stahl?

Post-transaction indirect positions reported include 127,128 shares for Fromex Equity Corp., 312,380 shares for FRMO Corp., 349,802 shares for Horizon Common Inc., 10,962 shares for Horizon Kinetics Hard Assets, LLC, 63,596 shares for Horizon Kinetics Asset Management LLC, and 4,886 shares in an account held by his spouse.

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

No. The Form 4 footnote states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

What transaction code is used for the reported RENN Fund (RCG) trades on the Form 4?

The reported trades in RENN Fund (RCG) common stock on 01/07/2026 are coded as "P", indicating open-market or private purchases of non-derivative securities.