RENN Fund (RCG) president leads 1,134-share insider buy

Rhea-AI Filing Summary

RENN Fund, Inc. President and 10% owner Murray Stahl reported open-market purchases of a total of 1,134 shares of RCG common stock at $3.25 per share on 2026-04-01. The transactions include 360 shares bought in his direct account and additional small lots across several indirect accounts.

After these trades, reported holdings include 159,608 shares held directly by Mr. Stahl and indirect positions such as 5,930 shares held by his spouse and stakes held through entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Mr. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares ($3,686)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($4K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$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 — 159,608 shares (Direct); Common Stock — 5,930 shares (Indirect, Spouse)

Footnotes (1)

1. This figure does not include 159,608 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: 1,134 shares Purchase price: $3.25 per share Direct shares after transaction: 159,608 shares +4 more

7 metrics

Total shares purchased 1,134 shares Open-market purchases on April 1, 2026

Purchase price $3.25 per share Price for all reported trades on April 1, 2026

Direct shares after transaction 159,608 shares Held directly by Murray Stahl after April 1, 2026 trades

Spouse account shares 5,930 shares Indirect holdings via spouse after April 1, 2026

Fromex Equity Corp. shares 137,568 shares Indirect holdings reported after April 1, 2026

FRMO Corp. shares 322,820 shares Indirect holdings reported after April 1, 2026

Horizon Common Inc. shares 366,970 shares Indirect holdings reported after April 1, 2026

Key Terms

open-market purchase, beneficial ownership, pecuniary interest, indirect ownership, +1 more

5 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.

beneficial ownership financial

"Mr. 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"

indirect ownership financial

"For each indirect account, Mr. Stahl disclaims beneficial ownership"

10% owner financial

""is_ten_percent_owner": 1"

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)
04/01/2026

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	04/01/2026		P		360	A	$3.25	159,608	D
Common Stock	04/01/2026		P		18	A	$3.25	5,930(1)	I	Spouse
Common Stock	04/01/2026		P		180	A	$3.25	137,568(1)(2)	I	Fromex Equity Corp.
Common Stock	04/01/2026		P		180	A	$3.25	322,820(1)(2)	I	FRMO Corp.
Common Stock	04/01/2026		P		296	A	$3.25	366,970(1)(2)	I	Horizon Common Inc.
Common Stock	04/01/2026		P		18	A	$3.25	12,006(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	04/01/2026		P		82	A	$3.25	68,352(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 159,608 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	04/02/2026
	** 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 1,134 RENN Fund common shares at $3.25 each in open-market trades. These purchases occurred across his direct account and several related indirect accounts on April 1, 2026, slightly increasing his overall reported ownership exposure.

How many RCG shares does Murray Stahl hold directly after this Form 4?

Following the reported trades, Murray Stahl directly holds 159,608 RCG common shares. This direct position is separate from additional indirect holdings reported through his spouse and several related entities, giving context to his long-term exposure to RENN Fund’s stock.

What indirect RCG holdings linked to Murray Stahl are disclosed?

Indirect holdings are reported through his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Stahl disclaims beneficial ownership of these indirect accounts except for any pecuniary interest he may have.

At what price were the RCG insider purchases made on April 1, 2026?

All reported RCG insider purchases on April 1, 2026, were executed at $3.25 per share. Multiple small transactions across direct and indirect accounts combined into a 1,134-share net purchase at this uniform open-market price level.

Does the Form 4 show net buying or selling activity for RENN Fund (RCG)?

The Form 4 shows net buying activity, with 1,134 RCG common shares purchased and no sales reported. All transactions were coded as open-market purchases, indicating additional share accumulation rather than any reduction in reported positions.