RENN Fund (RCG) President Murray Stahl reports insider stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider buying activity is reported for President and Co-Portfolio Manager Murray Stahl, who is also a director and more than 10% owner of RENN Fund, Inc. (RCG). On 12/05/2025, he reported multiple open-market purchases of common stock at a price of $2.65 per share.

Following these transactions, Stahl beneficially owns 131,174 shares of RENN Fund common stock directly. He also reports indirect ownership through several related accounts, including 4,508 shares held by his spouse and larger positions such as 308,600 shares via FRMO Corp and 343,586 shares via Horizon Common Inc., among other investment entities. For each indirect account, he disclaims beneficial ownership 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)
12/05/2025

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	12/05/2025		P		360	A	$2.65	131,174	D
Common Stock	12/05/2025		P		18	A	$2.65	4,508(1)	I	SPOUSE
Common Stock	12/05/2025		P		180	A	$2.65	123,348(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/05/2025		P		180	A	$2.65	308,600(1)(2)	I	FRMO CORP
Common Stock	12/05/2025		P		296	A	$2.65	343,586(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/05/2025		P		18	A	$2.65	10,584(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/05/2025		P		82	A	$2.65	61,874(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 131,174 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	12/08/2025
	** 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).
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FAQ

What insider transaction did RENN Fund, Inc. (RCG) report in this Form 4?

The filing reports that Murray Stahl, President, Co-Portfolio Manager, director, and more than 10% owner of RENN Fund, Inc. (RCG), purchased RENN Fund common stock in open-market transactions on 12/05/2025 at a price of $2.65 per share.

How many RENN Fund (RCG) shares does Murray Stahl own directly after the reported trades?

After the reported transactions, Murray Stahl beneficially owns 131,174 RENN Fund common shares in a direct ownership capacity.

What indirect holdings of RENN Fund (RCG) stock are reported for Murray Stahl?

The filing lists several indirect holdings, including 4,508 shares held by his spouse, 123,348 shares through Fromex Equity Corp, 308,600 shares through FRMO Corp, 343,586 shares through Horizon Common Inc., 10,584 shares through Horizon Kinetics Hard Assets LLC, and 61,874 shares through Horizon Kinetics Asset Management LLC.

At what price were the RENN Fund (RCG) insider purchases made on 12/05/2025?

All of the reported common stock purchases on 12/05/2025 were executed at a price of $2.65 per share.

Does Murray Stahl claim full beneficial ownership of all indirect RENN Fund (RCG) holdings?

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

Were any derivative securities reported for RENN Fund (RCG) in this Form 4?

No derivative securities are listed as acquired, disposed of, or beneficially owned in the Table II – Derivative Securities section of this Form 4.