RCG insider buys shares at $2.66 across multiple accounts

RENN Fund, Inc. (RCG) reported insider activity by its President, Co-Portfolio Manager, Director, and 10% owner, Murray Stahl, on a Form 4.

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) reported insider activity by its President, Co-Portfolio Manager, Director, and 10% owner, Murray Stahl, on a Form 4. On 11/14/2025, he purchased multiple blocks of RENN Fund common stock at $2.66 per share across direct and indirect accounts. Following these transactions, he held 126,134 shares directly, while indirect holdings reported included 4,256 shares through his spouse and larger positions such as 120,828 shares via FROMEX EQUITY CORP and 306,080 shares via FRMO CORP. Additional indirect positions included 339,442 shares through HORIZON COMMON INC., 10,332 shares through Horizon Kinetics Hard Assets LLC, and 60,726 shares through Horizon Kinetics Asset Management LLC. For each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.66	$957.60
Purchase	Common Stock	18	$2.66	$47.88
Purchase	Common Stock	180	$2.66	$478.80
Purchase	Common Stock	180	$2.66	$478.80
Purchase	Common Stock	296	$2.66	$787.36
Purchase	Common Stock	18	$2.66	$47.88
Purchase	Common Stock	82	$2.66	$218.12

Holdings After Transaction: Common Stock — 126,134 shares (Direct); Common Stock — 4,256 shares (Indirect, SPOUSE); Common Stock — 120,828 shares (Indirect, FROMEX EQUITY CORP); Common Stock — 306,080 shares (Indirect, FRMO CORP); Common Stock — 339,442 shares (Indirect, HORIZON COMMON INC.); Common Stock — 10,332 shares (Indirect, Horizon Kinetics Hard Assets LLC); Common Stock — 60,726 shares (Indirect, HORIZON KINETICS ASSET MANAGEMENT LLC)

Footnotes (2)

1. F1. This figure does not include 126,134 shares held directly by Mr. Stahl.
2. F2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

FAQ

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What insider transaction did RCG report in this Form 4?

The filing reports that Murray Stahl, President, Co-Portfolio Manager, Director, and 10% owner of RENN Fund, Inc. (RCG), acquired common stock on 11/14/2025 at $2.66 per share in multiple accounts.

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

After the reported transactions, Murray Stahl directly owns 126,134 shares of RENN Fund, Inc. common stock in a direct ownership capacity.

What indirect RCG holdings are reported for Murray Stahl and at what levels?

Indirectly, the filing lists 4,256 shares held by his spouse, 120,828 through FROMEX EQUITY CORP, 306,080 through FRMO CORP, 339,442 through HORIZON COMMON INC., 10,332 through Horizon Kinetics Hard Assets LLC, and 60,726 through Horizon Kinetics Asset Management LLC.

At what price were the RCG shares acquired in this Form 4 filing?

All reported acquisitions of RENN Fund, Inc. common stock in this filing were made at a price of $2.66 per share.

What is Murray Stahl’s relationship to RENN Fund, Inc. (RCG)?

Murray Stahl is identified as a Director, President/Co-Portfolio Manager, and a 10% owner of RENN Fund, Inc.

Does Murray Stahl claim full beneficial ownership of all indirect RCG accounts listed?

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

Is this RCG Form 4 filed by one reporting person or multiple insiders?

The form is indicated as being filed by one reporting person, namely Murray Stahl.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 11/17/2025 - 10:34 AM Learn about SEC filing dates

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)
11/14/2025

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	11/14/2025		P		360	A	$2.66	126,134	D
Common Stock	11/14/2025		P		18	A	$2.66	4,256(1)	I	SPOUSE
Common Stock	11/14/2025		P		180	A	$2.66	120,828(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/14/2025		P		180	A	$2.66	306,080(1)(2)	I	FRMO CORP
Common Stock	11/14/2025		P		296	A	$2.66	339,442(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/14/2025		P		18	A	$2.66	10,332(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/14/2025		P		82	A	$2.66	60,726(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 126,134 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	11/17/2025
	** 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.