STAHL MURRAY buys RENN Fund shares; direct holding 104,598

Rhea-AI Filing Summary

Reporting person: STAHL MURRAY filed a Form 4 disclosing purchases of RENN Fund, Inc. (RCG) common stock on 08/21/2025.

On 08/21/2025 Mr. Stahl purchased shares at a price of $2.57 in multiple lines: a direct purchase that resulted in 104,598 shares held directly and additional purchases credited to several indirect accounts (spouse and related entities) producing reported indirect holdings of 3,176, 110,028, 295,280, 321,694, 9,252, and 55,804 shares respectively after the transactions.

Positive

• Insider purchases executed on 08/21/2025 at $2.57
• Direct holding reported as 104,598 shares following the transaction
• Additional indirect holdings disclosed for spouse and affiliated entities (3,176; 110,028; 295,280; 321,694; 9,252; 55,804)
• Form properly signed by attorney-in-fact

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchases on 08/21/2025 at $2.57 increased both direct and multiple indirect holdings.

The filing shows routine open-market purchases executed at $2.57 on 08/21/2025. The largest single reported direct holding after the transactions is 104,598 shares. Multiple small purchases were allocated to indirect accounts including a spouse and several affiliated entities, with the filing disclaiming beneficial ownership of those indirect accounts except to the extent of any pecuniary interest. The disclosure is factual and procedural; it does not include company financials or commentary on intent.

Corporate Governance Expert

TL;DR: Form 4 documents multiple purchases and appropriate disclosure of indirect holdings and disclaimers.

The report identifies the reporting person as a director and officer (President/Co-Portfolio Manager) and discloses purchases across direct and indirect accounts. The form includes the customary disclaimer that Mr. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest. Signature is by attorney-in-fact. The filing is a standard Section 16 disclosure without additional governance events.

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
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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)
08/21/2025

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	08/21/2025		P		356	A	$2.57	104,598	D
Common Stock	08/21/2025		P		18	A	$2.57	3,176(1)	I	SPOUSE
Common Stock	08/21/2025		P		180	A	$2.57	110,028(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/21/2025		P		180	A	$2.57	295,280(1)(2)	I	FRMO CORP
Common Stock	08/21/2025		P		296	A	$2.57	321,694(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/21/2025		P		18	A	$2.57	9,252(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/21/2025		P		82	A	$2.57	55,804(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 104,598 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	08/22/2025
	** 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 transactions did STAHL MURRAY report on Form 4 for RCG?

The Form 4 reports multiple purchases of RENN Fund (RCG) common stock on 08/21/2025 executed at $2.57 per share.

How many shares does STAHL MURRAY hold directly after the reported trades?

The filing reports 104,598 shares held directly following the reported transaction(s).

Were any indirect or affiliated accounts affected in the Form 4 filing?

Yes. The filing shows purchases allocated to indirect accounts including spouse and affiliated entities with reported indirect holdings of 3,176; 110,028; 295,280; 321,694; 9,252; and 55,804 shares.

What price were the reported RCG shares purchased at?

All reported purchases on the form were executed at a price of $2.57 per share.

What is the reporting person’s role at the issuer according to the Form 4?

The form lists the reporting person as a Director and an Officer with title President/Co-Portfolio Manager.