[Form 4] RENN Fund Inc. Insider Trading Activity

Rhea-AI Filing Summary

What happened: Murray Stahl, a director and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported purchases of RENN Fund common stock on 08/07/2025.

Why it matters: The Form 4 shows purchases at $2.64 per share across direct and indirect accounts (including a spouse and several related entities), totaling 1,130 shares. Insider purchases can signal that management has personal exposure to the fund’s performance.

What to watch: Holdings after the trades are reported for each account (for example, 101,038 shares directly and larger indirect stakes tied to named entities). The transactions are routine disclosures; assess them alongside broader ownership trends to judge materiality.

Insights

Financial Analyst

TL;DR: Insider buys a small block—1,130 shares at $2.64—signaling modest alignment but unlikely to move valuation materially.

The Form 4 shows Murray Stahl acquired multiple small lots of RENN Fund common stock at $2.64 per share across direct and indirect accounts. Aggregating the line items yields 1,130 shares purchased. For a fund structure, this level of insider buying is a signal of personal conviction but is not large enough on its own to change the fund’s fundamentals or market valuation. Investors should view this as a supporting data point rather than a material catalyst.

Corporate Governance Expert

TL;DR: Disclosure is clear—direct and indirect purchases reported, showing compliance; no material governance red flags in this filing.

The filing identifies Mr. Stahl as a director and officer and discloses purchases allocated to multiple entities and a spouse, with ownership forms marked direct or indirect and the stated nature of indirect ownership. The explanatory footnote disclaims beneficial ownership for certain indirect accounts except to the extent of any pecuniary interest. This is a routine, transparent insider disclosure that demonstrates adherence to reporting obligations. Impact to governance or control is minimal based on the reported amounts.

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)
08/07/2025

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	08/07/2025		P		356	A	$2.64	101,038	D
Common Stock	08/07/2025		P		18	A	$2.64	2,996(1)	I	SPOUSE
Common Stock	08/07/2025		P		180	A	$2.64	108,228(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/07/2025		P		180	A	$2.64	293,480(1)(2)	I	FRMO CORP
Common Stock	08/07/2025		P		296	A	$2.64	318,734(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/07/2025		P		18	A	$2.64	9,072(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/07/2025		P		82	A	$2.64	54,984(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 101,038 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	08/08/2025
	** 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

Who reported the insider trades for RENN Fund (RCG)?

The reporting person is Murray Stahl, identified as a Director and President/Co-Portfolio Manager.

What trades were reported on the Form 4 for RCG?

Purchases of RENN Fund common stock on 08/07/2025 across multiple lines: 356, 18, 180, 180, 296, 18, and 82 shares.

How many RCG shares were purchased and at what price?

A total of 1,130 shares were reported purchased at a price of $2.64 per share.

Were the purchases direct or indirect for RCG filings?

Purchases were both direct and indirect. The filing lists direct ownership and indirect holdings through a spouse and several entities (named in the form).

What ownership levels were reported after the transactions?

The form lists post-transaction beneficial ownership per account, for example 101,038 shares held directly and various indirect totals such as 293,480 and 318,734 for named entities.