RENN Fund (RCG) Form 4: $2.62 insider purchases, 118,214 direct

Rhea-AI Filing Summary

RENN Fund (RCG) insider activity: Officer Martin J. Stahl reported open‑market purchases on 10/15/2025 at $2.62 per share. He bought 360 shares directly, bringing his directly held stake to 118,214 shares.

He also reported small purchases across several indirect accounts at the same price, including 18 shares via spouse and 180 shares via FRMO Corp, among others. Footnotes state the indirect account figures exclude the 118,214 shares held directly and that beneficial ownership is disclaimed except to the extent of any pecuniary interest.

Insights

Equity governance analyst

Routine insider buys at $2.62; modest size, neutral signal.

The filing shows multiple open‑market purchases by Martin J. Stahl at $2.62 per share on 10/15/2025, including 360 shares directly, with direct holdings now at 118,214 shares. Additional small lots were acquired through various indirect accounts at the same price.

Form 4 disclosures document insider trades but do not, by themselves, alter fundamentals. The footnotes clarify indirect ownership is disclaimed except for any pecuniary interest, which limits interpretability. Actual impact depends on trade size and frequency relative to float; this excerpt provides discrete transactions only.

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)
10/15/2025

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	10/15/2025		P		360	A	$2.62	118,214	D
Common Stock	10/15/2025		P		18	A	$2.62	3,860(1)	I	SPOUSE
Common Stock	10/15/2025		P		180	A	$2.62	116,868(1)(2)	I	FROMEX EQUITY CORP
Common Stock	10/15/2025		P		180	A	$2.62	302,120(1)(2)	I	FRMO CORP
Common Stock	10/15/2025		P		296	A	$2.62	332,930(1)(2)	I	HORIZON COMMON INC.
Common Stock	10/15/2025		P		18	A	$2.62	9,936(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	10/15/2025		P		82	A	$2.62	58,922(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 118,214 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	10/16/2025
	** 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 insider transaction did RENN Fund (RCG) report?

Martin J. Stahl reported open‑market purchases on 10/15/2025 at $2.62 per share, including 360 shares acquired directly.

How many RCG shares does the insider hold directly after the transaction?

Directly held shares totaled 118,214 following the reported transaction.

Were there indirect purchases reported for RCG?

Yes. Small purchases at $2.62 were reported across several indirect accounts, including 18 shares via spouse and 180 via FRMO Corp.

What transaction code was used in the RCG insider filing?

Transaction code P was used, indicating open‑market or private purchases.

Who is the reporting person and role at RENN Fund (RCG)?

The reporting person is Martin J. Stahl, an officer titled President/Co‑Portfolio Manager.

What do the footnotes in the RCG Form 4 indicate?

They state indirect account figures exclude the 118,214 shares held directly and disclaim beneficial ownership except for any pecuniary interest.