Insider Murray Stahl adds RENN Fund, Inc. (RCG) shares at $2.70

Rhea-AI Filing Summary

RENN Fund, Inc. insider activity: President and Co-Portfolio Manager Murray Stahl, reported as a 10% owner of RENN Fund, Inc., reported multiple open-market purchases of common stock on 01/22/2026 at $2.7 per share.

He acquired 360 shares directly, bringing his directly held position to 142,334 common shares. Additional purchases were reported in various indirect accounts, including a spouse account and entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, with post-transaction indirect holdings in these accounts ranging from 5,066 to 352,762 shares.

Footnotes state that the indirect accounts do not include the 142,334 shares held directly and that Mr. Stahl disclaims beneficial ownership of the indirect holdings 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

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 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)
01/22/2026

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	01/22/2026		P		360	A	$2.7	142,334	D
Common Stock	01/22/2026		P		18	A	$2.7	5,066(1)	I	Spouse
Common Stock	01/22/2026		P		180	A	$2.7	128,928(1)(2)	I	Fromex Equity Corp.
Common Stock	01/22/2026		P		180	A	$2.7	314,180(1)(2)	I	FRMO Corp.
Common Stock	01/22/2026		P		296	A	$2.7	352,762(1)(2)	I	Horizon Common Inc.
Common Stock	01/22/2026		P		18	A	$2.7	11,142(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/22/2026		P		82	A	$2.7	64,416(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 142,334 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	01/23/2026
	** 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 insider transactions did Murray Stahl report for RCG on January 22, 2026?

Murray Stahl, President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. (RCG), reported open-market purchases of common stock on 01/22/2026 at $2.7 per share, both directly and through several indirect accounts associated with related entities and a spouse account.

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

After purchasing 360 common shares at $2.7 per share on 01/22/2026, Murray Stahl is shown as directly holding 142,334 shares of RENN Fund, Inc. common stock.

Which indirect accounts related to Murray Stahl bought RENN Fund (RCG) shares?

Indirect purchases at $2.7 per share were reported in accounts labeled as Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each with its own post-transaction share balance.

What do the footnotes in Murray Stahl’s RCG Form 4 filing explain?

The footnotes state that the indirect account figures do not include the 142,334 shares held directly by Mr. Stahl and that, for each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

What was the purchase price for the RENN Fund (RCG) insider transactions?

All the reported common stock purchases on 01/22/2026, whether direct or through indirect accounts, were executed at a price of $2.7 per share.

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

In the filing, Murray Stahl is identified as a 10% owner and as an officer of RENN Fund, Inc., with the title President/Co-Portfolio Manager.