RENN Fund (NYSE: RCG) president reports open-market stock purchases on 12/15/2025

Rhea-AI Filing Summary

RENN Fund, Inc. insider Mr. Stahl, who serves as a director, president and co‑portfolio manager and is a 10% owner, reported multiple purchases of the company’s common stock dated 12/15/2025. Each transaction in Table I is coded "P" with a purchase price of $2.65 per share.

He acquired 360 shares for his direct account, bringing his directly held common stock to 133,334 shares. Additional small purchases were reported in several indirect accounts, resulting in 4,616 shares held by his spouse and 124,428, 309,680, 345,362, 10,692 and 62,366 shares held through Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC, respectively. The footnotes state that these indirect figures do not include the 133,334 shares held directly and that Mr. Stahl disclaims beneficial ownership in each indirect account except to the extent of his pecuniary interest, if any.

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)
12/15/2025

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	12/15/2025		P		360	A	$2.65	133,334	D
Common Stock	12/15/2025		P		18	A	$2.65	4,616(1)	I	SPOUSE
Common Stock	12/15/2025		P		180	A	$2.65	124,428(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/15/2025		P		180	A	$2.65	309,680(1)(2)	I	FRMO CORP
Common Stock	12/15/2025		P		296	A	$2.65	345,362(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/15/2025		P		18	A	$2.65	10,692(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/15/2025		P		82	A	$2.65	62,366(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 133,334 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	12/16/2025
	** 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 type of SEC filing did RENN Fund (RCG) report here?

This document is a Form 4, which reports changes in the beneficial ownership of RENN Fund, Inc. equity securities by an insider.

What is Mr. Stahls relationship to RENN Fund (RCG)?

Mr. Stahl is listed as a director, a 10% owner, and an officer of RENN Fund, with the officer title given as President/Co-Portfolio Manager.

What stock transactions did Mr. Stahl report on 12/15/2025 for RCG?

On 12/15/2025, Mr. Stahl reported several purchases of RENN Fund common stock, each coded "P" and executed at $2.65 per share across his direct and multiple indirect accounts.

How many RENN Fund (RCG) shares does Mr. Stahl own directly after these trades?

Following the reported transactions, Mr. Stahl directly owns 133,334 shares of RENN Fund common stock.

What indirect RENN Fund (RCG) holdings are reported for Mr. Stahl?

The filing reports indirect holdings of 4,616 shares via his spouse and 124,428, 309,680, 345,362, 10,692 and 62,366 shares via Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC, respectively.

How does Mr. Stahl treat beneficial ownership of his indirect RENN Fund (RCG) accounts?

The footnotes explain that for each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Were any derivative securities reported for Mr. Stahls RENN Fund (RCG) holdings?

Table II, which would list derivative securities, contains no entries, indicating no derivative transactions were reported in this filing.