What does the Form 4 say about Murray Stahl’s beneficial ownership of indirect RENN Fund (RCG) shares?

A footnote explains 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. This clarifies that some reported holdings may not be fully attributable to him economically.

RENN Fund (RCG) president and related accounts buy 1,134 common shares

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

Murray Stahl directly purchased 360 shares of RENN Fund common stock at $2.95 per share . After this transaction, his direct holdings stood at 153,494 shares , according to the Form 4 data for the reported date.

Q: Which indirect accounts bought RENN Fund (RCG) shares in this Form 4?

Indirect purchases occurred in accounts identified as Spouse , Fromex Equity Corp. , FRMO Corp. , Horizon Common Inc. , Horizon Kinetics Hard Assets LLC , and Horizon Kinetics Asset Management LLC . Each of these accounts acquired RENN Fund common shares at $2.95 on the same date.

Q: What is Murray Stahl’s role at RENN Fund (RCG) mentioned in the Form 4?

The filing lists Murray Stahl as President/Co-Portfolio Manager of RENN Fund and identifies him as a 10% owner . This highlights that the reported trades involve a senior executive with a significant ownership position in the company’s common stock.

Q: Were the RENN Fund (RCG) insider transactions open-market purchases or another type?

All reported transactions are coded P , described as open-market or private purchases of RENN Fund common stock. Each trade was executed at a price of $2.95 per share on March 9, 2026, according to the Form 4 details.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

RENN Fund, Inc. insider Murray Stahl, its President/Co-Portfolio Manager and a 10% owner, reported multiple open‑market purchases of common stock on March 9, 2026. The transactions totaled 1,134 shares at a price of $2.95 per share.

Stahl bought shares both directly and through several 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. A footnote states he disclaims beneficial ownership of the indirect holdings except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares ($3,345)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.95	$1K
Purchase	Common Stock	18	$2.95	$53.10
Purchase	Common Stock	180	$2.95	$531.00
Purchase	Common Stock	180	$2.95	$531.00
Purchase	Common Stock	296	$2.95	$873.20
Purchase	Common Stock	18	$2.95	$53.10
Purchase	Common Stock	82	$2.95	$241.90

Holdings After Transaction: Common Stock — 153,494 shares (Direct); Common Stock — 5,624 shares (Indirect, Spouse)

Footnotes (1)

This figure does not include 153,494 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.

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Form 4 Insider Transactions: What Each Field Means →

03/10/2026 - 11:29 AM

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

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)
03/09/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/09/2026		P		360	A	$2.95	153,494	D
Common Stock	03/09/2026		P		18	A	$2.95	5,624⁽¹⁾	I	Spouse
Common Stock	03/09/2026		P		180	A	$2.95	134,508⁽¹⁾⁽²⁾	I	Fromex Equity Corp.
Common Stock	03/09/2026		P		180	A	$2.95	319,760⁽¹⁾⁽²⁾	I	FRMO Corp.
Common Stock	03/09/2026		P		296	A	$2.95	361,938⁽¹⁾⁽²⁾	I	Horizon Common Inc.
Common Stock	03/09/2026		P		18	A	$2.95	11,700⁽¹⁾⁽²⁾	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/09/2026		P		82	A	$2.95	66,958⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This figure does not include 153,494 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	03/10/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

Murray Stahl reported multiple open-market purchases of RENN Fund common stock totaling 1,134 shares at $2.95 per share on March 9, 2026. These transactions spanned his direct holdings and several indirect accounts tied to related persons and entities.

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

Murray Stahl directly purchased 360 shares of RENN Fund common stock at $2.95 per share. After this transaction, his direct holdings stood at 153,494 shares, according to the Form 4 data for the reported date.

Which indirect accounts bought RENN Fund (RCG) shares in this Form 4?

Indirect purchases occurred in accounts identified as Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Each of these accounts acquired RENN Fund common shares at $2.95 on the same date.

What is Murray Stahl’s role at RENN Fund (RCG) mentioned in the Form 4?

The filing lists Murray Stahl as President/Co-Portfolio Manager of RENN Fund and identifies him as a 10% owner. This highlights that the reported trades involve a senior executive with a significant ownership position in the company’s common stock.

Were the RENN Fund (RCG) insider transactions open-market purchases or another type?

All reported transactions are coded P, described as open-market or private purchases of RENN Fund common stock. Each trade was executed at a price of $2.95 per share on March 9, 2026, according to the Form 4 details.