[Form 4] RENN Fund, Inc. Insider Trading Activity

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG)11/18/2025 at a price of $2.68 per share. The filing shows he acquired 360 shares directly, increasing his directly held position to 126,854 shares.

He also reported additional purchases through several indirect accounts, including shares held by his spouse and entities such as FROMEX EQUITY CORP, FRMO CORP, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC. After these transactions, the reported indirect holdings in these accounts ranged from 4,292 shares in his spouse’s account to 340,034 shares in Horizon Common Inc. Mr. Stahl states that these indirect figures exclude his directly held shares and that he disclaims beneficial ownership in the indirect accounts except to the extent of any pecuniary interest.

11/19/2025 - 10:20 AM

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
Estimated average burden
hours per response:			0.5

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)
11/18/2025

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	11/18/2025		P		360	A	$2.68	126,854	D
Common Stock	11/18/2025		P		18	A	$2.68	4,292(1)	I	SPOUSE
Common Stock	11/18/2025		P		180	A	$2.68	121,188(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/18/2025		P		180	A	$2.68	306,440(1)(2)	I	FRMO CORP
Common Stock	11/18/2025		P		296	A	$2.68	340,034(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/18/2025		P		18	A	$2.68	10,368(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/18/2025		P		82	A	$2.68	60,890(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 126,854 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	11/19/2025
	** 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 RENN Fund (RCG) insider Murray Stahl report in this Form 4?

Murray Stahl reported open-market purchases of RENN Fund (RCG) common stock on 11/18/2025 at $2.68 per share, including both directly held and indirectly held shares.

How many RENN Fund (RCG) shares does Murray Stahl now hold directly?

After the reported purchases, Murray Stahl directly beneficially owns 126,854 shares of RENN Fund (RCG) common stock.

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

The filing lists indirect holdings through his spouse and several entities, including FROMEX EQUITY CORP, FRMO CORP, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, with reported indirect positions such as 4,292 shares in his spouse’s account and 340,034 shares in Horizon Common Inc.

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

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

What is Murray Stahl’s role at RENN Fund (RCG)?

Murray Stahl is reported as an officer of RENN Fund, Inc., with the title President/Co-Portfolio Manager, and is also identified as a director-level insider.

On what date did the RENN Fund (RCG) insider transactions occur?

The earliest transaction date reported in the Form 4 is 11/18/2025.