RCG insider buys at $2.60; direct 360 shares, 122,894 held

RENN Fund (RCG) reported insider purchases.

Rhea-AI Filing Summary

RENN Fund (RCG) reported insider purchases. On 11/03/2025, an executive who is both a Director and President/Co‑Portfolio Manager reported multiple open‑market buys at $2.60 per share. Directly, 360 shares were purchased, bringing direct holdings to 122,894 shares.

Small additional purchases occurred through indirect accounts: 18 shares via spouse, and blocks of 180–296 shares through entities including Fromex Equity Corp, FRMO Corp, and Horizon‑affiliated companies. Following these transactions, examples of indirect beneficial ownership totals include 304,460 shares at FRMO Corp and 336,778 shares at Horizon Common Inc., as reported. The filer disclaims beneficial ownership of indirect accounts except to the extent of pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.60	$936.00
Purchase	Common Stock	18	$2.60	$46.80
Purchase	Common Stock	180	$2.60	$468.00
Purchase	Common Stock	180	$2.60	$468.00
Purchase	Common Stock	296	$2.60	$769.60
Purchase	Common Stock	18	$2.60	$46.80
Purchase	Common Stock	82	$2.60	$213.20

Holdings After Transaction: Common Stock — 122,894 shares (Direct); Common Stock — 4,094 shares (Indirect, SPOUSE); Common Stock — 119,208 shares (Indirect, FROMEX EQUITY CORP); Common Stock — 304,460 shares (Indirect, FRMO CORP); Common Stock — 336,778 shares (Indirect, HORIZON COMMON INC.); Common Stock — 10,170 shares (Indirect, Horizon Kinetics Hard Assets LLC); Common Stock — 59,988 shares (Indirect, HORIZON KINETICS ASSET MANAGEMENT LLC)

Footnotes (2)

1. F1. This figure does not include 122,894 shares held directly by Mr. Stahl.
2. F2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did RENN Fund (RCG) disclose in this Form 4?

An executive who is a Director and President/Co‑Portfolio Manager reported open‑market purchases on 11/03/2025 at $2.60 per share, including 360 shares bought directly.

How many RCG shares does the insider now hold directly?

Direct beneficial ownership is reported as 122,894 shares following the transactions.

Were there indirect transactions reported for RCG?

Yes. Small purchases were reported across several indirect accounts, including 18 shares via spouse and additional lots via Fromex Equity Corp, FRMO Corp, and Horizon‑affiliated entities.

What prices were paid for the RCG purchases?

All reported buys were at $2.60 per share on 11/03/2025.

Does the filer claim full beneficial ownership of indirect accounts?

No. The filer disclaims beneficial ownership of indirect accounts except to the extent of pecuniary interest.

Is this Form 4 filed by one reporting person?

Yes. It is indicated as a Form filed by one reporting person.

What are examples of indirect beneficial ownership totals after the trades?

Examples include 304,460 shares at FRMO Corp and 336,778 shares at Horizon Common Inc., as reported.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/04/2025 - 12:55 PM Learn about SEC filing dates

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)

470 PARK AVENUE SOUTH

4TH FLOOR SOUTH

(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)
11/03/2025

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	11/03/2025		P		360	A	$2.6	122,894	D
Common Stock	11/03/2025		P		18	A	$2.6	4,094(1)	I	SPOUSE
Common Stock	11/03/2025		P		180	A	$2.6	119,208(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/03/2025		P		180	A	$2.6	304,460(1)(2)	I	FRMO CORP
Common Stock	11/03/2025		P		296	A	$2.6	336,778(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/03/2025		P		18	A	$2.6	10,170(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/03/2025		P		82	A	$2.6	59,988(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 122,894 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	11/04/2025
	** 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.