Murray Stahl buys RENN Fund shares in open market

RENN Fund President and 10% owner Murray Stahl reported open-market purchases of a total of 1,134 shares of common stock at $3.09 per share on March 11, 2026.

Accepted by SEC EDGAR 03/12/2026 - 10:54 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

RENN Fund President and 10% owner Murray Stahl reported open-market purchases of a total of 1,134 shares of common stock at $3.09 per share on March 11, 2026. He bought 360 shares directly and additional shares through spouse and related entities, where he disclaims beneficial ownership except for any pecuniary interest. Following these trades, one reported line shows 154,214 shares held directly, with separate indirect holdings in the named entities.

Insider Trade Summary

Net Buyer: 1,134 shares

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	$3.09	$1K
Purchase	Common Stock	18	$3.09	$55.62
Purchase	Common Stock	180	$3.09	$556.20
Purchase	Common Stock	180	$3.09	$556.20
Purchase	Common Stock	296	$3.09	$914.64
Purchase	Common Stock	18	$3.09	$55.62
Purchase	Common Stock	82	$3.09	$253.38

Holdings After Transaction: Common Stock — 154,214 shares (Direct); Common Stock — 5,660 shares (Indirect, Spouse); Common Stock — 134,868 shares (Indirect, Fromex Equity Corp.); Common Stock — 320,120 shares (Indirect, FRMO Corp.); Common Stock — 362,530 shares (Indirect, Horizon Common Inc.); Common Stock — 11,736 shares (Indirect, Horizon Kinetics Hard Assets LLC); Common Stock — 67,122 shares (Indirect, Horizon Kinetics Asset Management LLC)

Footnotes (2)

1. F1. This figure does not include 154,214 shares held directly by Mr. Stahl.
2. F2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

Murray Stahl reported buying RENN Fund common shares in the open market. On March 11, 2026, he recorded multiple open-market purchases totaling 1,134 shares of common stock at a price of $3.09 per share across direct and indirect accounts.

How many RENN Fund (RCG) shares did Murray Stahl buy and at what price?

He purchased a total of 1,134 RENN Fund common shares at $3.09 each. The Form 4 shows several separate open-market purchase entries, all on March 11, 2026, with the same per-share price of $3.09 for the reported transactions.

How many RENN Fund (RCG) shares does Murray Stahl hold directly after the transaction?

One reported line shows 154,214 RENN Fund shares held directly after the trade. This figure appears as the total shares following the direct open-market purchase of 360 shares and is referenced again in a footnote describing shares held directly.

Were any of Murray Stahl’s RENN Fund (RCG) purchases made through related accounts?

Yes, several purchases were made through indirect accounts tied to related parties and entities. These include accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

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

No, he expressly disclaims full beneficial ownership of the indirect holdings. A footnote states that for each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest, if any, clarifying the nature of his economic stake.

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

He is identified as President and Co-Portfolio Manager and a 10% owner. The reporting person data classify him as an officer with the title “President/Co-Portfolio Manager” and also mark him as a ten percent owner of RENN Fund, Inc.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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)
03/11/2026

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	03/11/2026		P		360	A	$3.09	154,214	D
Common Stock	03/11/2026		P		18	A	$3.09	5,660(1)	I	Spouse
Common Stock	03/11/2026		P		180	A	$3.09	134,868(1)(2)	I	Fromex Equity Corp.
Common Stock	03/11/2026		P		180	A	$3.09	320,120(1)(2)	I	FRMO Corp.
Common Stock	03/11/2026		P		296	A	$3.09	362,530(1)(2)	I	Horizon Common Inc.
Common Stock	03/11/2026		P		18	A	$3.09	11,736(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/11/2026		P		82	A	$3.09	67,122(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 154,214 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	03/12/2026
	** 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.
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