RCG insider purchases: Stahl Murray reports multiple buys at $2.53

Rhea-AI Filing Summary

Stahl Murray, a director and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported purchases of common stock on 08/13/2025 at $2.53 per share. The Form 4 lists separate acquisitions: 356 shares recorded as direct, and indirect acquisitions of 18 shares (spouse), 180 shares (FROMEX Equity Corp), 180 shares (FRMO Corp), 296 shares (Horizon Common Inc.), 18 shares (Horizon Kinetics Hard Assets LLC) and 82 shares (Horizon Kinetics Asset Management LLC), each at $2.53 per share.

The filing shows post-transaction beneficial ownership amounts for each account as listed on the form and includes explanatory notes that one figure does not include 102,462 shares held directly by Mr. Stahl and that Mr. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

Insights

Securities Analyst

TL;DR: Insider purchases recorded across direct and multiple indirect accounts at $2.53 per share; filing shows updated beneficial ownership.

The Form 4 documents purchases executed on 08/13/2025 at $2.53 per share across several accounts tied to Mr. Stahl, including a direct purchase of 356 shares and multiple indirect acquisitions totaling the listed line items. The form provides post-transaction beneficial ownership balances by account and includes standard disclaimers regarding indirect holdings. From a disclosure standpoint, the filing follows Section 16 reporting requirements by itemizing each class of beneficial ownership and the nature of indirect ownership.

Corporate Governance Expert

TL;DR: Reported insider buys are documented and attributed to direct and related-entity accounts; disclosure includes required ownership disclaimers.

The report identifies Mr. Stahl as both a director and an officer (President/Co-Portfolio Manager) and lists purchases of common stock allocated among direct holdings and several related entities or family accounts. The filing includes explicit post-transaction share counts for each account and a standard note disclaiming beneficial ownership of certain indirect accounts except for any pecuniary interest. The disclosure is structured to clarify the relationship between the reporting person and the entities listed.

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

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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)
08/13/2025

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	08/13/2025		P		356	A	$2.53	102,462	D
Common Stock	08/13/2025		P		18	A	$2.53	3,068(1)	I	SPOUSE
Common Stock	08/13/2025		P		180	A	$2.53	108,948(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/13/2025		P		180	A	$2.53	294,200(1)(2)	I	FRMO CORP
Common Stock	08/13/2025		P		296	A	$2.53	319,918(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/13/2025		P		18	A	$2.53	9,144(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/13/2025		P		82	A	$2.53	55,312(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 102,462 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	08/14/2025
	** 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 filed the Form 4 for RENN Fund (RCG)?

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

What transactions are reported on the Form 4 for RCG?

The Form 4 reports purchases of RENN Fund common stock on 08/13/2025 at a price of $2.53 per share across multiple direct and indirect accounts.

How many shares and which accounts are shown on the Form 4?

Line-item purchases shown are 356 shares (direct), and indirect purchases of 18 (spouse), 180 (FROMEX Equity Corp), 180 (FRMO Corp), 296 (Horizon Common Inc.), 18 (Horizon Kinetics Hard Assets LLC), and 82 (Horizon Kinetics Asset Management LLC).

What post-transaction ownership amounts are disclosed?

The form lists post-transaction beneficial ownership balances for each account as presented on the filing (for example, 102,462 shares shown for a direct holding and other balances for each indirect account).

Does Mr. Stahl claim beneficial ownership of the indirect accounts?

The filing states that Mr. Stahl disclaims beneficial ownership of each indirect account except to the extent of any pecuniary interest, and notes one figure does not include 102,462 shares held directly by him.