Murray Stahl Reports 1,130-Share Purchase of RENN Fund (RCG) at $2.60

Rhea-AI Filing Summary

STAHL MURRAY, identified as a director and an officer (President/Co-Portfolio Manager) of RENN Fund, Inc. (RCG), reported purchases of common stock on 08/08/2025. The report lists multiple purchases at $2.60 per share, with the transactions adding a total of 1,130 shares across direct and indirect accounts.

The filing breaks out holdings following the transactions: 101,394 shares held directly by Mr. Stahl and additional indirect holdings reported for a spouse and several entities (Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC). The filer includes a standard disclaimer that he disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

Insights

Financial Analyst

TL;DR: Director/officer purchases a small number of RCG shares at $2.60, increasing direct and indirect holdings modestly.

The Form 4 documents purchases totaling 1,130 common shares executed on 08/08/2025 at $2.60 per share. Mr. Stahl is shown with 101,394 shares held directly after these transactions, and several indirect holdings are recorded for related entities and a spouse. The filings include a customary disclaimer of beneficial ownership for indirect accounts except for any pecuniary interest. From an analytical perspective, the absolute size of the purchases reported here is small relative to the direct holding disclosed, suggesting limited incremental economic exposure from these specific transactions.

Corporate Governance Expert

TL;DR: Reported insider purchases are documented correctly with required disclosures and ownership disclaimers.

The submission identifies the reporting person as both a director and an officer (President/Co-Portfolio Manager) and itemizes purchases by direct and various indirect accounts, including a spouse and multiple corporate entities. The filer includes the standard disclaimer that indirect accounts are disclaimed except to the extent of any pecuniary interest, aligning with common Section 16 reporting practice. There are no derivative transactions reported and no indications in this Form 4 of changes to governance roles or material reallocations of control.

Insider Trade Summary

Net Buyer: 1,130 shares ($2,938)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,130 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	356	$2.60	$925.60
Purchase	Common Stock	18	$2.60	$46.80
Purchase	Common Stock	180	$2.60	$468.00
Purchase	Common Stock	180	$2.60	$468.00
Purchase	Common Stock	296	$2.60	$769.60
Purchase	Common Stock	18	$2.60	$46.80
Purchase	Common Stock	82	$2.60	$213.20

Holdings After Transaction: Common Stock — 101,394 shares (Direct); Common Stock — 3,014 shares (Indirect, SPOUSE)

Footnotes (1)

1. This figure does not include 101,394 shares held directly by Mr. Stahl. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Form 4 Insider Transactions: What Each Field Means →

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)
08/08/2025

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	08/08/2025		P		356	A	$2.6	101,394	D
Common Stock	08/08/2025		P		18	A	$2.6	3,014(1)	I	SPOUSE
Common Stock	08/08/2025		P		180	A	$2.6	108,408(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/08/2025		P		180	A	$2.6	293,660(1)(2)	I	FRMO CORP
Common Stock	08/08/2025		P		296	A	$2.6	319,030(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/08/2025		P		18	A	$2.6	9,090(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/08/2025		P		82	A	$2.6	55,066(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 101,394 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	08/11/2025
	** 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

Who filed the Form 4 for RENN Fund (RCG)?

The reporting person is STAHL MURRAY, identified as a director and an officer (President/Co-Portfolio Manager).

What transactions were reported on the RCG Form 4?

Purchases of common stock on 08/08/2025 at $2.60 per share, totaling 1,130 shares acquired across direct and indirect accounts.

How many RCG shares does Mr. Stahl hold directly after these transactions?

The filing shows 101,394 shares held directly by Mr. Stahl following the reported transactions.

Are any derivative securities reported in this filing for RCG?

No. Table II for derivative securities contains no entries; only non-derivative common stock purchases are reported.

Does the filer disclose indirect ownership or related-party accounts?

Yes. The Form 4 lists indirect holdings for a spouse and several entities (Fromex Equity Corp, FRMO Corp, Horizon Common Inc., Horizon Kinetics Hard Assets LLC, Horizon Kinetics Asset Management LLC) and includes a disclaimer of beneficial ownership for those indirect accounts except to the extent of any pecuniary interest.