RENN Fund (RCG) director and officer reports open-market stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider Mr. Stahl, a director and President/Co-Portfolio Manager, reported several open-market purchases of the company’s common stock on 12/04/2025. The trades were executed at a price of $2.57 per share across his direct account and multiple related accounts, including his spouse and several affiliated entities.

Following these transactions, Mr. Stahl directly owns 130,814 shares of RENN Fund common stock. Additional shares are held indirectly through his spouse and entities such as Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics asset management vehicles, where he disclaims beneficial ownership beyond 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

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)
12/04/2025

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	12/04/2025		P		360	A	$2.57	130,814	D
Common Stock	12/04/2025		P		18	A	$2.57	4,490(1)	I	SPOUSE
Common Stock	12/04/2025		P		180	A	$2.57	123,168(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/04/2025		P		180	A	$2.57	308,420(1)(2)	I	FRMO CORP
Common Stock	12/04/2025		P		296	A	$2.57	343,290(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/04/2025		P		18	A	$2.57	10,566(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/04/2025		P		82	A	$2.57	61,792(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 130,814 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	12/05/2025
	** 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 did the RENN Fund (RCG) insider report in this Form 4 filing?

The filing shows that Mr. Stahl, a director and President/Co-Portfolio Manager of RENN Fund, Inc., reported multiple open-market purchases of the company’s common stock on 12/04/2025 at $2.57 per share across direct and indirect accounts.

How many RENN Fund (RCG) shares does the insider now hold directly?

After the reported transactions, Mr. Stahl directly holds 130,814 shares of RENN Fund common stock.

Were the RENN Fund (RCG) trades in this Form 4 open-market purchases?

Yes. The transactions are coded as P in the filing, indicating open-market or private purchase of RENN Fund common stock at a price of $2.57 per share.

What indirect RENN Fund (RCG) holdings are reported for the insider?

The filing lists indirect holdings through the insider’s spouse and entities including Fromex Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics investment entities, with share amounts disclosed for each account.

Does the RENN Fund (RCG) insider claim full beneficial ownership of the indirect shares?

No. The filing states that for each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

What is the insider’s role at RENN Fund (RCG)?

Mr. Stahl is reported as a director and an officer of RENN Fund, serving as President/Co-Portfolio Manager.