In a reported insider transaction, Murray Stahl - President and Co-Portfolio Manager at RENN Fund, Inc. (EXCHANGE:RCG) - acquired 1,134 shares of the fund's common stock on March 25, 2026, at a per-share price of $3.28. The purchase amounted to $3,719 in aggregate consideration.
Following the trade, Stahl's direct stake in the fund increased to 157,814 shares. The filing also notes additional ownership positions that Stahl holds indirectly through a number of related parties and vehicles. Those named indirect holders include his spouse, Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.
According to the disclosure language provided, Stahl expressly disclaims beneficial ownership of the shares held through those indirect entities, except to the extent of any pecuniary interest he may have in them. The filing does not quantify the size of the indirect positions or specify any recent changes to those holdings.
Transaction details
- Date of transaction: March 25, 2026
- Buyer: Murray Stahl, President and Co-Portfolio Manager, RENN Fund, Inc.
- Shares purchased: 1,134 common shares
- Price per share: $3.28
- Total value: $3,719
- Direct holdings after transaction: 157,814 shares
The disclosure lists multiple entities through which Stahl has indirect holdings but does not provide dollar values or share counts for those positions in the filing excerpt. The transaction record is limited to the single purchase described above and the post-trade direct holding total.
Context and interpretation
The filing records a modest insider purchase and clarifies the boundary between direct and indirect ownership. It identifies the related parties and entities connected to Stahl's indirect interest while noting his disclaimer of beneficial ownership for those positions except for any pecuniary interest. The document does not offer commentary on intent, future plans, or any changes to compensation or role.