Form 4: Murray Stahl Boosts RENN Fund Stake with $2.6 Share Buys

Murray Stahl, a Director and 10% Owner of RENN Fund, Inc., acquired additional common stock through direct and indirect holdings at $2.6 per share.

Summary

• Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported multiple acquisitions of common stock.
• Transactions occurred on January 8, 2026, at a price of $2.6 per share.
• Stahl directly acquired 360 shares, increasing his direct holdings to 139,094 shares.
• Indirect acquisitions totaled 774 shares through various entities, bringing total indirect beneficial ownership to 869,528 shares.
• Indirect holdings include shares acquired by a spouse (18 shares), Fromex Equity Corp. (180 shares), FRMO Corp. (180 shares), Horizon Common Inc. (296 shares), Horizon Kinetics Hard Assets LLC (18 shares), and Horizon Kinetics Asset Management LLC (82 shares).
• Stahl disclaims beneficial ownership for indirect accounts except to the extent of his pecuniary interest, if any.
• Total beneficial ownership after these transactions, combining direct and indirect holdings, is 1,008,622 shares.

Sentiment

Score: 8

Explanation: Significant insider buying by a key executive and 10% owner, Murray Stahl, indicates strong confidence in the company's valuation and future prospects.

Positives

• Significant insider buying by a key executive and 10% owner, Murray Stahl, indicates strong confidence in RENN Fund, Inc.'s current valuation and future prospects.
• The acquisitions were made at a consistent price of $2.6 per share across multiple entities, suggesting a deliberate and strategic investment by management.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Acquisition of RENN Fund, Inc. common stock by Murray Stahl's spouse.
• Acquisition of RENN Fund, Inc. common stock by entities associated with Murray Stahl: Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, where Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: Increased confidence due to significant insider buying, potentially signaling a positive outlook for the stock's valuation.

Key Dates

Recommendation

The significant insider buying by Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager, at a consistent price of $2.6 per share across multiple direct and indirect holdings, signals strong management confidence in RENN Fund, Inc.'s current valuation and future outlook. This action suggests that a key insider believes the stock is undervalued or poised for growth, making it an attractive entry point for investors.

Keywords

RENN Fund, RCG, Murray Stahl, insider buying, Form 4, stock acquisition, beneficial ownership, Horizon Kinetics