Insider Murray Stahl adds RENN Fund (RCG) common shares at $3.01

Rhea-AI Filing Summary

RENN Fund, Inc. president and 10% owner Murray Stahl reported open-market purchases totaling 1,134 shares of common stock on March 12, 2026 at $3.01 per share. The transactions include 360 shares bought directly, bringing his direct holdings to 154,574 shares.

Additional purchases were made in various indirect accounts, including those labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC with updated positions ranging from 5,678 to 362,826 shares. Stahl disclaims beneficial ownership in these indirect accounts 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

OMB APPROVAL

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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)
03/12/2026

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	03/12/2026		P		360	A	$3.01	154,574	D
Common Stock	03/12/2026		P		18	A	$3.01	5,678(1)	I	Spouse
Common Stock	03/12/2026		P		180	A	$3.01	135,048(1)(2)	I	Fromex Equity Corp.
Common Stock	03/12/2026		P		180	A	$3.01	320,300(1)(2)	I	FRMO Corp.
Common Stock	03/12/2026		P		296	A	$3.01	362,826(1)(2)	I	Horizon Common Inc.
Common Stock	03/12/2026		P		18	A	$3.01	11,754(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/12/2026		P		82	A	$3.01	67,204(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 154,574 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	03/13/2026
	** 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?

Murray Stahl reported buying 1,134 RENN Fund common shares at $3.01. The purchases occurred on March 12, 2026, across one direct account and several indirect accounts associated with entities and a spouse, reflecting net-buy insider activity for that date.

How many RENN Fund (RCG) shares does Murray Stahl now hold directly?

After the transaction, Murray Stahl holds 154,574 RENN Fund shares directly. This figure reflects his personal direct ownership following the March 12, 2026 open-market purchase of 360 additional common shares at a price of $3.01 per share.

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

Indirect purchases were made through a Spouse account and several entities. These include Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each holding updated RENN Fund share balances after the March 12, 2026 trades.

What prices were paid for the RENN Fund (RCG) insider share purchases?

All reported RENN Fund insider purchases were at $3.01 per share. Each of the seven March 12, 2026 common stock transactions, covering both direct and indirect holdings, lists the same open-market purchase price of $3.0100 per share in the filing details.

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

No, he disclaims full beneficial ownership of the indirect accounts. The filing states that for each indirect account, Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any, clarifying his economic stake in those related holdings.

Were there any RENN Fund (RCG) insider sales or only purchases in this report?

The report shows only insider purchases, with no sales. The transaction summary lists seven buy transactions totaling 1,134 shares of RENN Fund common stock, zero sell transactions, and an overall net-buy direction for March 12, 2026.