Murray Stahl of RENN Fund (RCG) reports open-market stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl reported open-market purchases of its Common Stock. On March 23, 2026, entities associated with him bought a total of 1,134 shares at $3.28 per share, including 360 shares acquired directly. Following these trades, Stahl holds 157,094 shares directly. Additional shares are held indirectly by his spouse and several related entities, for which he disclaims beneficial ownership 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

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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)
03/23/2026

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	03/23/2026		P		360	A	$3.28	157,094	D
Common Stock	03/23/2026		P		18	A	$3.28	5,804(1)	I	Spouse
Common Stock	03/23/2026		P		180	A	$3.28	136,308(1)(2)	I	Fromex Equity Corp.
Common Stock	03/23/2026		P		180	A	$3.28	321,560(1)(2)	I	FRMO Corp.
Common Stock	03/23/2026		P		296	A	$3.28	364,898(1)(2)	I	Horizon Common Inc.
Common Stock	03/23/2026		P		18	A	$3.28	11,880(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/23/2026		P		82	A	$3.28	67,778(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 157,094 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	03/24/2026
	** 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 several open-market purchases of RENN Fund Common Stock on March 23, 2026. In total, entities associated with him acquired 1,134 shares at $3.28 per share, including 360 shares bought directly in his own name.

At what price were the RENN Fund (RCG) shares purchased in this Form 4?

All reported RENN Fund Common Stock purchases were made at $3.28 per share. These were open-market transactions spread across Stahl’s direct account, his spouse, and several affiliated entities, as disclosed in the Form 4 data.

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

After the March 23, 2026 purchases, Murray Stahl directly holds 157,094 shares of RENN Fund Common Stock. This figure reflects his direct ownership only and excludes additional shares held through various indirect accounts and entities.

How many RENN Fund (RCG) shares were bought across all accounts in this filing?

Across all reported accounts, a total of 1,134 RENN Fund Common Stock shares were purchased. This includes Stahl’s direct account, his spouse’s holdings, and multiple related entities, all executed as open-market purchases at $3.28 per share.

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

No. The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership of the RENN Fund shares, except to the extent of his pecuniary interest, if any. Indirect positions include his spouse and several affiliated entities.

What role does Murray Stahl hold at RENN Fund (RCG) in this Form 4?

In this Form 4, Murray Stahl is identified as President and Co-Portfolio Manager of RENN Fund and also as a ten percent owner. The reported transactions involve his direct holdings and multiple indirect accounts associated with him.