[Form 4] RENN Fund, Inc. Insider Trading Activity

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) insider activity: On 10/22/2025, Mr. Stahl reported multiple open‑market purchases of RCG common stock at $2.61 per share across direct and affiliated accounts. Transactions included small lots such as 360 shares acquired directly and additional lots through entities and a spouse account.

Following these trades, his direct holdings stood at 120,014 shares. He also reports indirect holdings through several entities, and disclaims beneficial ownership of those indirect positions except to the extent of his pecuniary interest. Mr. Stahl is an Officer (President/Co‑Portfolio Manager) and a 10% owner.

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

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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)
10/22/2025

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	10/22/2025		P		360	A	$2.61	120,014	D
Common Stock	10/22/2025		P		18	A	$2.61	3,950(1)	I	SPOUSE
Common Stock	10/22/2025		P		180	A	$2.61	117,768(1)(2)	I	FROMEX EQUITY CORP
Common Stock	10/22/2025		P		180	A	$2.61	303,020(1)(2)	I	FRMO CORP
Common Stock	10/22/2025		P		296	A	$2.61	334,410(1)(2)	I	HORIZON COMMON INC.
Common Stock	10/22/2025		P		18	A	$2.61	10,026(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	10/22/2025		P		82	A	$2.61	59,332(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 120,014 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	10/23/2025
	** 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.

FAQ

What did RCG insider Mr. Stahl report buying, and at what price?

He reported open‑market purchases of RENN Fund (RCG) common stock at $2.61 per share on 10/22/2025.

How many RCG shares does Mr. Stahl hold directly after the trades?

His direct holdings were 120,014 shares after the reported transactions.

What is Mr. Stahl’s relationship to RENN Fund, Inc. (RCG)?

He is an Officer (President/Co‑Portfolio Manager) and a 10% owner.

Were the RCG purchases direct or through affiliates?

Both. He acquired shares directly and through several indirect accounts, plus a spouse account.

What disclaimer did Mr. Stahl include regarding indirect holdings?

He disclaims beneficial ownership of indirect accounts except to the extent of his pecuniary interest.

When did the reported transactions occur?

All transactions were dated 10/22/2025.