Insider Trading April 9, 2026 05:22 PM

Horizon Kinetics and Murray Stahl Report Purchase of RENN Fund Shares

Firm and co-portfolio manager acquired RCG stock on April 7, 2026; reporting changes follow Stahl's unexpected death

By Avery Klein
Share
Twitter Reddit Facebook LinkedIn
RCG

Horizon Kinetics Asset Management LLC and Murray Stahl disclosed purchases of RENN Fund, Inc. (RCG) shares on April 7, 2026, at $3.24 per share, with total reported outlay of $3,674. Horizon Kinetics directly acquired 360 shares and made additional indirect purchases through several affiliated entities. The filing also notes an ownership tally of 367858 shares held indirectly after the transactions, and that Mr. Stahl's direct holdings will no longer be Section 16-reportable following his unexpected death on the same date.

Horizon Kinetics and Murray Stahl Report Purchase of RENN Fund Shares
RCG
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • Horizon Kinetics Asset Management LLC and Murray Stahl reported purchasing RENN Fund (RCG) shares on April 7, 2026, at $3.24 per share, totaling $3,674.
  • Horizon Kinetics directly acquired 360 shares; other purchases were made indirectly through Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics Hard Assets LLC.
  • After the transactions, Horizon Kinetics and related entities hold 367858 shares indirectly; RCG traded at $2.96 at the time of the filing and has a 12-month return of 29% with a market cap of $21.33 million.

Horizon Kinetics Asset Management LLC, together with Murray Stahl, President and Co-Portfolio Manager, reported purchases of common stock in RENN Fund, Inc. (EXCHANGE: RCG) on April 7, 2026. The disclosed transactions show an acquisition price of $3.24 per share.

The filing specifies a total cash outlay of $3,674 to complete the purchases. Horizon Kinetics directly bought 360 shares. Additional acquisitions tied to the organization were executed indirectly through entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics Hard Assets LLC.

Market data in the filing indicates RCG is trading at $2.96, which is below the reported $3.24 purchase price. The filing also notes that RCG returned 29% over the past 12 months. According to InvestingPro data referenced in the notice, RCG has shown strong returns in recent months and carries a market capitalization of $21.33 million.

After the April 7 transactions, the number of shares owned indirectly by Horizon Kinetics Asset Management LLC and related entities stands at 367858.


Reporting note

The filing includes a procedural update tied to Mr. Stahl. It states that on April 7, 2026, Mr. Stahl, a co-manager of the issuer, passed away unexpectedly. As a result, shares held directly by Mr. Stahl and his wife will no longer be subject to Section 16 reporting requirements and therefore will not appear in future Section 16 filings.


The disclosure documents provide the numerical and procedural details above. They do not offer additional commentary on strategy or intent behind the purchases, and they limit their scope to the transactions, ownership totals, market price, recent returns, and the change in reporting status following Mr. Stahl's death.

Risks

  • The filing shows the current trading price ($2.96) is below the reported purchase price ($3.24), which presents a near-term valuation gap for the recently acquired shares - this is relevant to investors monitoring market performance and portfolio valuations.
  • A change in Section 16 reporting status due to the unexpected death of Mr. Stahl on April 7, 2026 means shares he and his wife held directly will not appear in future filings, reducing transparency in public insider reporting for those specific holdings.
  • RCG's relatively small market capitalization of $21.33 million, as noted in the filing, may imply limited liquidity and greater price volatility, which could affect trading and execution for larger orders.

More from Insider Trading

Horizon Kinetics Expands RENN Fund Position with Recent Acquisition Jun 9, 2026 Kearny Financial Director Curtland Fields Acquires $25,200 Worth of Shares Jun 9, 2026 Lucky Strike Entertainment Director Robert Bass Increases Stake with $6,034 Share Purchase Jun 9, 2026 Lucky Strike CFO Lavan Buys Shares Amid Leadership Shift and Mixed Analyst Outlooks Jun 9, 2026 Horizon Kinetics Acquires Single Share of Texas Pacific Land at $402.65 Jun 9, 2026