Renn Fund (RCG) Officer Purchases Common Stock at $2.65 — Form 4

Rhea-AI Filing Summary

Renn Fund, Inc. (RCG) Form 4 shows insider purchases executed on 09/17/2025 by reporting person Murray Stahl, who is listed as a director and President/Co-Portfolio Manager. The form reports multiple purchases of common stock at $2.65 per share, including a direct holding of 111,026 shares after a 360-share purchase and several indirect holdings reported through related entities and a spouse, with beneficial ownership totals reported for each account. The filing includes a legal disclaimer that indirect accounts are disclaimed except to the extent of any pecuniary interest. The Form 4 is signed by an attorney-in-fact on behalf of the reporting person.

Insights

Securities Analyst

TL;DR: Insider purchases at $2.65 on 09/17/2025 increased direct and indirect holdings, a routine disclosure with limited standalone market impact.

The filing documents small open-market purchases by a director/officer resulting in a reported direct holding of 111,026 shares and additional indirect beneficial positions across related accounts. The purchases occurred at $2.65 per share and are disclosed under Section 16 rules. There is no earnings or operational data in the filing and no indication of any change to control or material corporate event. Materiality is limited to the scale of disclosed transactions relative to the issuer, which is not quantified here.

Corporate Governance Expert

TL;DR: This is a standard Form 4 reporting insider purchases by a director/officer; disclosures of indirect holdings and disclaimers are properly noted.

The form identifies Murray Stahl as a director and President/Co-Portfolio Manager and reports purchases of common stock on the same date at the same price across multiple accounts, including spouse and entity accounts, with customary disclaimers that indirect accounts are disclaimed except for any pecuniary interest. The signature is provided by an attorney-in-fact, complying with filing formalities. The disclosure does not include any compensatory grants, derivative exercises, or other governance actions.

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).

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)
09/17/2025

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	09/17/2025		P		360	A	$2.65	111,026	D
Common Stock	09/17/2025		P		18	A	$2.65	3,500(1)	I	SPOUSE
Common Stock	09/17/2025		P		180	A	$2.65	113,268(1)(2)	I	FROMEX EQUITY CORP
Common Stock	09/17/2025		P		180	A	$2.65	298,520(1)(2)	I	FRMO CORP
Common Stock	09/17/2025		P		296	A	$2.65	327,022(1)(2)	I	HORIZON COMMON INC.
Common Stock	09/17/2025		P		18	A	$2.65	9,576(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	09/17/2025		P		82	A	$2.65	57,280(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 111,026 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	09/18/2025
	** 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 the Form 4 filed for RCG disclose about insider activity?

The Form 4 discloses that Murray Stahl purchased common stock on 09/17/2025 at $2.65 per share across several accounts, with a reported direct holding of 111,026 shares after the transaction.

Who is the reporting person on the RCG Form 4 and what is their role?

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

Were any indirect holdings or disclaimers included in the Form 4 for RCG?

Yes; the filing reports indirect holdings through a spouse and several entities and includes a disclaimer that Mr. Stahl disclaims beneficial ownership of indirect accounts except to the extent of any pecuniary interest.

What was the total price paid per share in the reported transactions on the RCG Form 4?

All reported purchases on the Form 4 were executed at a price of $2.65 per share.

Was the Form 4 signed and who signed it?

The Form 4 was signed on behalf of the reporting person by /s/ Jay Kesslen, attorney-in-fact with the signature date of 09/18/2025.