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RENN Fund Insider Signals Confidence with Strategic Multi-Entity Share Accumulation

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Murray Stahl, President and Co-Portfolio Manager of RENN Fund, reported multiple insider purchases of common stock on June 26, 2025. The transactions were executed at $2.62 per share across various affiliated entities:

  • 356 shares acquired directly, bringing direct ownership to 90,678 shares
  • 18 shares through spouse ownership (total: 2,474 shares)
  • 180 shares through Fromex Equity Corp (total: 103,008 shares)
  • 180 shares through FRMO Corp (total: 288,260 shares)
  • 274 shares through Horizon Common Inc (total: 310,236 shares)
  • 18 shares through Horizon Kinetics Hard Assets LLC (total: 8,550 shares)
  • 82 shares through Horizon Kinetics Asset Management LLC (total: 52,592 shares)

Total shares acquired across all entities: 1,108 shares. Stahl maintains significant ownership positions through multiple entities while disclaiming beneficial ownership except for his pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider STAHL MURRAY
Role President
Bought 1,108 shs ($3K)
Type Security Shares Price Value
Purchase Common Stock 356 $2.62 $932.72
Purchase Common Stock 18 $2.62 $47.16
Purchase Common Stock 180 $2.62 $471.60
Purchase Common Stock 180 $2.62 $471.60
Purchase Common Stock 274 $2.62 $717.88
Purchase Common Stock 18 $2.62 $47.16
Purchase Common Stock 82 $2.62 $214.84
Holdings After Transaction: Common Stock — 90,678 shares (Direct); Common Stock — 2,474 shares (Indirect, SPOUSE)
Footnotes (1)
  1. This figure does not include 90,678 shares held directly by Mr. Stahl. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.
Form 4 Insider Transactions: What Each Field Means →
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) X Other (specify below)
President Co-Portfolio Manager
3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025
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 06/26/2025 P 356 A $2.62 90,678 D
Common Stock 06/26/2025 P 18 A $2.62 2,474(1) I SPOUSE
Common Stock 06/26/2025 P 180 A $2.62 103,008(1)(2) I FROMEX EQUITY CORP
Common Stock 06/26/2025 P 180 A $2.62 288,260(1)(2) I FRMO CORP
Common Stock 06/26/2025 P 274 A $2.62 310,236(1)(2) I HORIZON COMMON INC.
Common Stock 06/26/2025 P 18 A $2.62 8,550(1)(2) I Horizon Kinetics Hard Assets LLC
Common Stock 06/26/2025 P 82 A $2.62 52,592(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 90,678 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 06/27/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many RCG shares did Murray Stahl purchase on June 26, 2025?

On June 26, 2025, Murray Stahl purchased a total of 1,108 shares of RCG common stock across various accounts: 356 shares directly and 752 shares indirectly through different entities including his spouse (18 shares), FROMEX Equity Corp (180 shares), FRMO Corp (180 shares), Horizon Common Inc. (274 shares), Horizon Kinetics Hard Assets LLC (18 shares), and Horizon Kinetics Asset Management LLC (82 shares).

What was the purchase price of RCG stock in Murray Stahl's June 26, 2025 transactions?

Murray Stahl purchased all RCG shares at a price of $2.62 per share across all transactions on June 26, 2025.

What positions does Murray Stahl hold at RCG according to the Form 4?

According to the Form 4, Murray Stahl serves as President and Co-Portfolio Manager of RENN Fund, Inc. He is also listed as a 10% Owner of the company.

How many RCG shares does Murray Stahl own directly after the reported transactions?

Following the reported transactions, Murray Stahl directly owns 90,678 shares of RCG common stock.

What is the total indirect ownership of RCG shares by Murray Stahl through various entities?

After the reported transactions, Murray Stahl's indirect ownership through various entities totals 765,120 shares, distributed across: spouse (2,474 shares), FROMEX Equity Corp (103,008 shares), FRMO Corp (288,260 shares), Horizon Common Inc. (310,236 shares), Horizon Kinetics Hard Assets LLC (8,550 shares), and Horizon Kinetics Asset Management LLC (52,592 shares).