Murray Stahl Reports Multiple RENN Fund (RCG) Purchases at $2.69

Rhea-AI Filing Summary

Insider purchases reported for RENN Fund, Inc. (RCG). Murray Stahl, listed as President and Co-Portfolio Manager and a director, reported multiple purchases of common stock on 09/04/2025 at $2.69 per share. The filing shows 356 shares purchased directly, increasing his direct holdings to 107,802 shares. Additional purchases were reported for various indirect accounts and related entities, including 180, 296 and 82-share purchases tied to entities such as Fromex Equity Corp., Frmo Corp., Horizon Common Inc., and Horizon Kinetics affiliates, yielding larger indirect beneficial ownership figures reported after the transactions. The filer disclaims beneficial ownership of indirect accounts except to the extent of any pecuniary interest.

Positive

• Officer and director purchases reported, demonstrating disclosure compliance under Section 16
• All transactions reported at a single price ($2.69), indicating clear pricing detail
• Form includes specific ownership totals both direct (107,802 shares) and indirect for related accounts

Negative

• None.

Insights

Securities Analyst

TL;DR: Director/officer reported small, disclosed purchases at $2.69, increasing direct and indirect reported holdings.

The Form 4 documents routine insider purchases by Murray Stahl on 09/04/2025 at a uniform price of $2.69. Reported purchases include a direct addition of 356 shares and multiple indirect purchases allocated across related entities and accounts, producing higher reported beneficial ownership totals for those accounts. The filing includes standard disclaimers about indirect ownership. Transaction codes show purchases (P) and the form was signed by an attorney-in-fact on 09/05/2025.

Corporate Governance Specialist

TL;DR: Transparent, compliant disclosure of insider acquisitions across direct and indirect accounts.

The filing identifies Murray Stahl as both an officer and director and provides detailed breakouts of purchases and resulting ownership positions. The statement includes necessary ownership disclaimers and an attorney-in-fact signature. This is a standard Section 16 disclosure that fulfills reporting obligations for insider transactions without revealing additional context about intent or strategy.

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)
09/04/2025

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	09/04/2025		P		356	A	$2.69	107,802	D
Common Stock	09/04/2025		P		18	A	$2.69	3,338(1)	I	SPOUSE
Common Stock	09/04/2025		P		180	A	$2.69	111,648(1)(2)	I	FROMEX EQUITY CORP
Common Stock	09/04/2025		P		180	A	$2.69	296,900(1)(2)	I	FRMO CORP
Common Stock	09/04/2025		P		296	A	$2.69	324,358(1)(2)	I	HORIZON COMMON INC.
Common Stock	09/04/2025		P		18	A	$2.69	9,414(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	09/04/2025		P		82	A	$2.69	56,542(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 107,802 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	09/05/2025
	** 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 insider transactions did Murray Stahl report for RCG on 09/04/2025?

He reported multiple purchases of RENN Fund common stock on 09/04/2025 at $2.69 per share, including 356 shares added to his direct holding.

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

Direct ownership reported as 107,802 shares following the transactions.

Were any indirect or entity-owned shares reported on the Form 4 for RCG?

Yes. The filing lists purchases credited to indirect accounts and entities (e.g., Fromex Equity Corp., Frmo Corp., Horizon affiliates) with higher reported beneficial ownership figures.

What price were the RCG shares purchased at according to the Form 4?

All reported purchases were at $2.69 per share on 09/04/2025.

Who signed the Form 4 filing for these RCG transactions?

The form was signed by Jay Kesslen, attorney-in-fact, on 09/05/2025.