Murray Stahl (NYSE: RCG) logs multiple insider stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. President and 10% owner Murray Stahl reported multiple open-market purchases of the company’s common stock on January 16, 2026. The filing shows a direct purchase of 360 shares at $2.72 per share, bringing his directly held stake to 141,254 shares. Additional purchases at $2.72 per share were made in various indirect accounts, including 18 shares in an account listed as Spouse and 180, 180, 296, 18 and 82 shares in accounts associated with Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC.

The filing notes that for each indirect account, Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, meaning these entities, rather than Stahl personally, are treated as the holders of those indirect positions.

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
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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)
01/16/2026

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	01/16/2026		P		360	A	$2.72	141,254	D
Common Stock	01/16/2026		P		18	A	$2.72	5,012(1)	I	Spouse
Common Stock	01/16/2026		P		180	A	$2.72	128,388(1)(2)	I	Fromex Equity Corp.
Common Stock	01/16/2026		P		180	A	$2.72	313,640(1)(2)	I	FRMO Corp.
Common Stock	01/16/2026		P		296	A	$2.72	351,874(1)(2)	I	Horizon Common Inc.
Common Stock	01/16/2026		P		18	A	$2.72	11,088(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/16/2026		P		82	A	$2.72	64,170(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 141,254 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	01/20/2026
	** 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).
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FAQ

What insider transaction did RENN Fund (RCG) report for Murray Stahl?

The Form 4 reports that Murray Stahl, President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc., was associated with multiple open-market purchases of RCG common stock on January 16, 2026.

How many RENN Fund (RCG) shares did Murray Stahl buy directly?

The filing shows a direct purchase of 360 shares of RENN Fund common stock at $2.72 per share, after which he directly held 141,254 shares.

What indirect RENN Fund (RCG) holdings are associated with Murray Stahl?

Indirect purchases at $2.72 per share were reported in accounts labeled Spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC, each with specified share amounts and post-transaction balances.

Does Murray Stahl claim full beneficial ownership of the indirect RCG accounts?

No. The footnote states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any, meaning the entities themselves are treated as the holders of those shares.

At what price were the RENN Fund (RCG) insider purchases made?

All reported purchases of RENN Fund common stock on January 16, 2026 were made at a price of $2.72 per share.

What is Murray Stahl’s role at RENN Fund (RCG)?

Murray Stahl is identified as an officer of RENN Fund, Inc., serving as President/Co-Portfolio Manager, and is also reported as a 10% owner of the company.