Insider Murray Stahl boosts RENN Fund (NYSE: RCG) stake with buys

Rhea-AI Filing Summary

Murray Stahl, President/Co-Portfolio Manager and 10% owner of RENN Fund, Inc., reported multiple open-market purchases of the fund’s common stock on January 30, 2026 at $2.62 per share.

He acquired 360 shares directly, bringing his direct holdings to 144,494 shares5,174 shares in the spouse account and 354,538 shares for Horizon Common Inc. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

02/02/2026 - 03:34 PM

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)
01/30/2026

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	01/30/2026		P		360	A	$2.62	144,494	D
Common Stock	01/30/2026		P		18	A	$2.62	5,174(1)	I	Spouse
Common Stock	01/30/2026		P		180	A	$2.62	130,008(1)(2)	I	Fromex Equity Corp.
Common Stock	01/30/2026		P		180	A	$2.62	315,260(1)(2)	I	FRMO Corp.
Common Stock	01/30/2026		P		296	A	$2.62	354,538(1)(2)	I	Horizon Common Inc.
Common Stock	01/30/2026		P		18	A	$2.62	11,250(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/30/2026		P		82	A	$2.62	64,908(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 144,494 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	02/02/2026
	** 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.

FAQ

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

Murray Stahl reported buying RENN Fund common stock on January 30, 2026 at $2.62 per share. The filing shows one direct purchase and several indirect purchases through his spouse and related entities, all at the same price.

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

He reported directly purchasing 360 shares of RENN Fund common stock. After this transaction, his directly held position totaled 144,494 shares, reflecting his personal holdings separate from shares attributed to spouse and affiliated entities.

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

Indirect holdings are reported through his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, with individual accounts holding between 5,174 and 354,538 shares after the trades.

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

Each reported transaction was executed at a price of $2.62 per share. This single price applies to the direct purchase and all indirect purchases made through the spouse account and the various affiliated corporate and LLC entities.

What does Murray Stahl’s disclaimer of beneficial ownership mean in this RCG filing?

Stahl states he disclaims beneficial ownership of the indirect accounts except to the extent of his pecuniary interest. This means he does not claim full economic ownership of those shares beyond any financial stake he may have in the related entities.

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

He is identified as President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. This combination of executive role and significant ownership makes his trading activity a required disclosure under Section 16 insider reporting rules.