RENN Fund (RCG) president Murray Stahl reports new insider share purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider and president/co-portfolio manager Murray Stahl reported multiple purchases of the company’s common stock. On 12/09/2025, he bought 360 shares directly at $2.65 per share, bringing his direct holdings to 131,894 shares. Additional purchases at the same price were made through several indirect accounts, including 18 shares held by his spouse and small blocks in entities such as FROMEX Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC and Asset Management LLC. After these trades, the filing shows indirect beneficial holdings ranging from a few thousand shares to over 300,000 shares across these entities, while noting that Mr. Stahl disclaims beneficial ownership of 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)
12/09/2025

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	12/09/2025		P		360	A	$2.65	131,894	D
Common Stock	12/09/2025		P		18	A	$2.65	4,544(1)	I	SPOUSE
Common Stock	12/09/2025		P		180	A	$2.65	123,708(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/09/2025		P		180	A	$2.65	308,960(1)(2)	I	FRMO CORP
Common Stock	12/09/2025		P		296	A	$2.65	344,178(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/09/2025		P		18	A	$2.65	10,620(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/09/2025		P		82	A	$2.65	62,038(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 131,894 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	12/10/2025
	** 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).
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FAQ

What insider transaction did RENN Fund (RCG) report on this Form 4?

The filing reports that Murray Stahl, a director, president, and co-portfolio manager of RENN Fund, Inc. (RCG), purchased shares of the company’s common stock on 12/09/2025 through both direct and indirect accounts at a price of $2.65 per share.

How many RCG shares did the insider buy directly on December 9, 2025?

On 12/09/2025, Murray Stahl bought 360 shares of RENN Fund common stock in a direct account at $2.65 per share, resulting in 131,894 shares held directly after the transaction.

What indirect RCG holdings are reported for Murray Stahl on this Form 4?

The filing lists indirect RENN Fund holdings including 4,544 shares held by his spouse and positions in entities such as FROMEX Equity Corp (123,708 shares), FRMO Corp (308,960 shares), Horizon Common Inc. (344,178 shares), and Horizon Kinetics Hard Assets LLC and Asset Management LLC (10,620 and 62,038 shares, respectively) following the reported trades.

At what price were the reported RENN Fund (RCG) insider share purchases made?

All of the reported purchases of RENN Fund, Inc. common stock on 12/09/2025, both direct and indirect, were executed at a price of $2.65 per share.

How does Murray Stahl treat beneficial ownership of the indirect RCG accounts?

The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership of the RENN Fund shares except to the extent of his pecuniary interest, if any.

What is Murray Stahl’s role and relationship to RENN Fund (RCG)?

Murray Stahl is reported as a director, president, and co-portfolio manager of RENN Fund, Inc., and is also identified as a 10% owner in the filing.