RENN Fund (RCG) director and 10% owner reports new insider share purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider activity: A reporting person who is a director, President/Co-Portfolio Manager and 10% owner of RENN Fund, Inc. (RCG) reported multiple open-market purchases of common stock on 12/01/2025 at a price of $2.52 per share.

The transactions include 360 shares acquired directly, bringing direct holdings to 129,734 shares. Additional shares were bought through various indirect accounts, including 18 shares attributed to a spouse (4,436 shares held after the transaction) and multiple investment entities such as FROMEX EQUITY CORP, FRMO CORP, HORIZON COMMON INC., and Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC.

The reporting person notes that figures for indirect accounts exclude the 129,734 shares held directly and disclaims beneficial ownership of indirect holdings except to the extent of any pecuniary interest.

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)
12/01/2025

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	12/01/2025		P		360	A	$2.52	129,734	D
Common Stock	12/01/2025		P		18	A	$2.52	4,436(1)	I	SPOUSE
Common Stock	12/01/2025		P		180	A	$2.52	122,628(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/01/2025		P		180	A	$2.52	307,880(1)(2)	I	FRMO CORP
Common Stock	12/01/2025		P		296	A	$2.52	342,402(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/01/2025		P		18	A	$2.52	10,512(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/01/2025		P		82	A	$2.52	61,546(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 129,734 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	12/02/2025
	** 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.
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FAQ

What insider transactions were reported for RENN Fund, Inc. (RCG) on 12/01/2025?

The reporting person disclosed several open-market purchases of RENN Fund, Inc. (RCG) common stock on 12/01/2025 at $2.52 per share, including both direct and indirect holdings.

How many RENN Fund (RCG) shares does the insider own directly after these trades?

After purchasing 360 shares of common stock on 12/01/2025, the reporting person directly owns 129,734 RENN Fund shares.

What indirect RENN Fund (RCG) holdings are associated with the insider and related accounts?

Indirect holdings reported include accounts such as a spouse (4,436 shares after the trade), FROMEX EQUITY CORP (122,628 shares), FRMO CORP (307,880 shares), HORIZON COMMON INC. (10,512 shares), and Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC (61,546 shares), all in common stock.

Does the insider claim beneficial ownership of all indirect RENN Fund (RCG) shares?

No. The reporting person states that for each indirect account, they disclaim beneficial ownership except to the extent of any pecuniary interest, if any.

What is the insiders role at RENN Fund, Inc. (RCG)?

The reporting person is a director, 10% owner, and officer of RENN Fund, Inc., serving as President/Co-Portfolio Manager.

Were any derivative securities of RENN Fund (RCG) reported in this Form 4?

No derivative securities are listed as acquired, disposed of, or beneficially owned in Table II for this report.