Insider Purchases: Murray Stahl Acquires RENN Fund Stock on 08/19/2025

Rhea-AI Filing Summary

Reporting person: Murray Stahl, identified as a Director and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG).
Transaction date: 08/19/2025.
Activity: Multiple purchases of RENN Fund common stock at $2.67 per share (reported with transaction code P). The filing lists direct holdings of 103,886 shares and several indirect accounts showing additional shares under various affiliated entities and spouse accounts, with aggregated indirect balances reported in the filing. The filer disclaims beneficial ownership of indirect accounts except to the extent of any pecuniary interest.

Positive

• Insider purchases reported on 08/19/2025 at $2.67 per share
• Direct ownership disclosed of 103,886 shares
• Transparent disclosure of indirect accounts and applicable disclaimers

Negative

• No contextual metrics provided in the filing (e.g., percentage of class outstanding) to assess materiality
• Filing lacks information on total consideration aggregated across reported purchases

Insights

Financial Analyst

TL;DR: Insider purchases on 08/19/2025 at $2.67; holdings disclosed across direct and multiple indirect accounts.

The Form 4 reports multiple open-market purchases by Murray Stahl on 08/19/2025 at $2.67 per share. Post-transaction direct holdings are stated as 103,886 shares, with additional indirect positions attributed to spouse and affiliated entities. From an analytical perspective, the filing documents insider accumulation but provides no context on size relative to total outstanding shares or funding source, limiting assessment of ownership change magnitude or capital commitment.

Corporate Governance Expert

TL;DR: A company officer and director reported purchases; standard disclosure and a disclaimer on indirect holdings.

The filing appropriately identifies Murray Stahl's roles and reports purchases under Rule 16 reporting. It also includes the required disclaimer for indirect accounts, noting he disclaims beneficial ownership except for any pecuniary interest. The disclosure appears procedurally complete for Section 16 but does not include derivative transactions or other material governance changes.

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)
08/19/2025

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	08/19/2025		P		356	A	$2.67	103,886	D
Common Stock	08/19/2025		P		18	A	$2.67	3,140(1)	I	SPOUSE
Common Stock	08/19/2025		P		180	A	$2.67	109,668(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/19/2025		P		180	A	$2.67	294,920(1)(2)	I	FRMO CORP
Common Stock	08/19/2025		P		296	A	$2.67	321,102(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/19/2025		P		18	A	$2.67	9,216(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/19/2025		P		82	A	$2.67	55,640(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 103,886 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	08/20/2025
	** 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 insider transactions were reported for RCG on 08/19/2025?

The Form 4 shows Murray Stahl purchased common stock of RENN Fund, Inc. on 08/19/2025 at a price of $2.67 per share (transaction code P).

How many shares does Murray Stahl hold directly after the reported transactions?

The filing reports 103,886 shares held directly by Murray Stahl following the reported transactions.

Does the filing disclose indirect holdings or related accounts?

Yes. The Form 4 lists multiple indirect accounts (including spouse and affiliated entities) with reported balances and includes a disclaimer that Mr. Stahl disclaims beneficial ownership of those indirect accounts except to the extent of any pecuniary interest.

What role does the reporting person hold at RENN Fund, Inc. (RCG)?

Murray Stahl is identified as a Director and an Officer with the title President/Co-Portfolio Manager.

What price were the shares purchased at in the reported transactions?

All reported purchases on the Form 4 are priced at $2.67 per share.