RCG executive and director increases RENN Fund holdings in Form 4

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) reported insider purchases of its common stock by a senior executive and director on 11/24/2025. The insider bought 360 shares at $2.65 per share into a direct account, bringing direct ownership to 128,294 shares. Additional purchases at the same price were made for several indirect accounts, including a spouse and multiple related entities, in small blocks such as 18, 82, 180, and 296 shares, increasing those accounts’ beneficial holdings.

The form notes that the insider is a Director and Officer (President/Co-Portfolio Manager), and clarifies that shares held in indirect accounts are beneficially owned only to the extent of any pecuniary interest. The filing also explains that the indirect figures shown exclude the 128,294 shares held directly.

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)
11/24/2025

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	11/24/2025		P		360	A	$2.65	128,294	D
Common Stock	11/24/2025		P		18	A	$2.65	4,364(1)	I	SPOUSE
Common Stock	11/24/2025		P		180	A	$2.65	121,908(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/24/2025		P		180	A	$2.65	307,160(1)(2)	I	FRMO CORP
Common Stock	11/24/2025		P		296	A	$2.65	341,218(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/24/2025		P		18	A	$2.65	10,440(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/24/2025		P		82	A	$2.65	61,218(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 128,294 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	11/25/2025
	** 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 did RENN Fund (RCG) disclose in this Form 4 filing?

The filing reports that a RENN Fund, Inc. insider who is a Director and President/Co-Portfolio Manager purchased additional shares of the company’s common stock on 11/24/2025 in multiple small transactions.

How many RENN Fund (RCG) shares did the insider buy directly?

The insider purchased 360 shares of RENN Fund common stock in a direct account at a price of $2.65 per share.

What is the insider’s direct ownership in RENN Fund (RCG) after these trades?

Following the reported transactions, the insider directly beneficially owns 128,294 shares of RENN Fund common stock.

Were there indirect RENN Fund (RCG) share purchases in this Form 4?

Yes. The filing lists additional purchases at $2.65 per share for several indirect accounts, including a spouse and entities such as FROMEX EQUITY CORP, FRMO CORP, HORIZON COMMON INC., and Horizon Kinetics Hard Assets LLC.

How does the insider treat beneficial ownership of indirect RENN Fund (RCG) accounts?

The insider disclaims beneficial ownership of shares held in each indirect account except to the extent of any pecuniary interest.

Does this Form 4 filing involve derivative securities of RENN Fund (RCG)?

No derivative securities are reported as acquired, disposed of, or beneficially owned; the detailed activity relates only to common stock.