RCG insider purchase at $2.62; direct holding now 121,454 shares

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) reported insider purchases by an officer on 10/28/2025. Mr. Stahl bought multiple small lots of common stock at $2.62 per share across direct and affiliated accounts. Following these transactions, he held 121,454 shares directly. Indirect holdings reported by related entities included 4,022 (spouse), 118,488 (Fromex Equity Corp), 303,740 (FRMO Corp), 335,594 (Horizon Common Inc.), 10,098 (Horizon Kinetics Hard Assets LLC), and 59,660 (Horizon Kinetics Asset Management LLC). He serves as President/Co‑Portfolio Manager.

Insider Trade Summary

Net Buyer: 1,134 shares ($2,971)

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	$2.62	$943.20
Purchase	Common Stock	18	$2.62	$47.16
Purchase	Common Stock	180	$2.62	$471.60
Purchase	Common Stock	180	$2.62	$471.60
Purchase	Common Stock	296	$2.62	$775.52
Purchase	Common Stock	18	$2.62	$47.16
Purchase	Common Stock	82	$2.62	$214.84

Holdings After Transaction: Common Stock — 121,454 shares (Direct); Common Stock — 4,022 shares (Indirect, SPOUSE)

Footnotes (1)

1. This figure does not include 121,454 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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 10/29/2025 - 10:52 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)
10/28/2025

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	10/28/2025		P		360	A	$2.62	121,454	D
Common Stock	10/28/2025		P		18	A	$2.62	4,022(1)	I	SPOUSE
Common Stock	10/28/2025		P		180	A	$2.62	118,488(1)(2)	I	FROMEX EQUITY CORP
Common Stock	10/28/2025		P		180	A	$2.62	303,740(1)(2)	I	FRMO CORP
Common Stock	10/28/2025		P		296	A	$2.62	335,594(1)(2)	I	HORIZON COMMON INC.
Common Stock	10/28/2025		P		18	A	$2.62	10,098(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	10/28/2025		P		82	A	$2.62	59,660(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 121,454 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	10/29/2025
	** 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 insider activity was disclosed for RENN Fund (RCG)?

Purchases of common stock at $2.62 per share on 10/28/2025 by Mr. Stahl across direct and affiliated accounts.

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

Following the transactions, the insider held 121,454 shares directly.

What were the reported indirect holdings related to the insider?

Reported indirect amounts included 4,022 (spouse), 118,488 (Fromex Equity Corp), 303,740 (FRMO Corp), 335,594 (Horizon Common Inc.), 10,098 (Horizon Kinetics Hard Assets LLC), and 59,660 (Horizon Kinetics Asset Management LLC).

What price were the RCG shares purchased at?

The reported purchases were at $2.62 per share.

What is the insider’s role at RENN Fund (RCG)?

He is an Officer, serving as President/Co‑Portfolio Manager.

Does the insider claim full beneficial ownership of all indirect holdings?

No. The filing states he disclaims beneficial ownership of indirect accounts except to the extent of his pecuniary interest.