RCG officer reports open‑market buys at $2.60 on 11/04/2025

Rhea-AI Filing Summary

RENN Fund (RCG) insider activity: an officer (President/Co‑Portfolio Manager) reported open‑market purchases on 11/04/2025 (transaction code P) at $2.60 per share. The filing shows a direct purchase of 360 shares, bringing directly held common stock to 123,254 shares.

Additional small purchases were reported in indirect accounts associated with a spouse and several entities. The filer disclaims beneficial ownership in those indirect accounts 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

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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)
11/04/2025

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	11/04/2025		P		360	A	$2.6	123,254	D
Common Stock	11/04/2025		P		18	A	$2.6	4,112(1)	I	SPOUSE
Common Stock	11/04/2025		P		180	A	$2.6	119,388(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/04/2025		P		180	A	$2.6	304,640(1)(2)	I	FRMO CORP
Common Stock	11/04/2025		P		296	A	$2.6	337,074(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/04/2025		P		18	A	$2.6	10,188(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/04/2025		P		82	A	$2.6	60,070(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 123,254 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	11/05/2025
	** 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.
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FAQ

What insider transactions did RENN Fund (RCG) report?

An officer reported open‑market buys (code P) on 11/04/2025 at $2.60 per share, including a direct purchase of 360 shares.

How many RCG shares are held directly after the transactions?

Directly held common stock totals 123,254 shares after the reported transactions.

Were there indirect RCG holdings involved?

Yes. Small purchases were reported in indirect accounts (including a spouse and multiple entities). The filer disclaims beneficial ownership except for any pecuniary interest.

What was the price paid in the reported RCG transactions?

The reported purchases were at $2.60 per share.

What is the reporting person’s relationship to RENN Fund (RCG)?

The reporting person is an officer, listed as President/Co‑Portfolio Manager.

What was the Form 4 transaction code for the RCG trades?

The trades used transaction code P, indicating open‑market or private purchases.

On what date did the RCG insider purchases occur?

The transactions occurred on 11/04/2025.