Murray Stahl Reports 1,130-Share Purchase in RENN Fund (RCG)

Rhea-AI Filing Summary

Murray Stahl, a director and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported purchases of common stock on 08/26/2025. The Form 4 shows a series of purchases at $2.65 per share totaling 1,130 shares acquired across multiple accounts and affiliated entities. After the transactions the filing lists 105,666 shares held directly by Mr. Stahl and multiple indirect holdings reported through spouse and affiliated entities (individual indirect balances are provided in the filing). The filing is signed by an attorney-in-fact on behalf of Mr. Stahl on 08/27/2025. No derivative transactions or dispositions are reported.

Positive

• Insider purchase reported: 1,130 shares acquired at $2.65 on 08/26/2025
• Full Section 16 disclosure filed and signed, including direct and indirect ownership details

Negative

• None.

Insights

Financial Analyst

TL;DR: Director purchased 1,130 shares at $2.65, modest insider buying with limited market impact given reported holdings.

The Form 4 documents open-market purchases by Murray Stahl on 08/26/2025 totaling 1,130 common shares at $2.65 each. The report shows both direct and multiple indirect holdings, with 105,666 shares held directly by Mr. Stahl and additional indirect positions held through related accounts and entities. The transaction sizes are small relative to the direct holding disclosed, suggesting this is a routine incremental purchase rather than a material change to ownership or control.

Corporate Governance Expert

TL;DR: Insider purchase disclosed; filing conforms to Section 16 reporting with disclaimers on indirect ownership.

The Form 4 complies with filing requirements and includes the customary disclaimer that Mr. Stahl disclaims beneficial ownership of indirect accounts except to the extent of any pecuniary interest. Purchases were executed under transaction code "P" and were reported promptly. The structure of holdings—direct plus multiple indirect accounts—warrants clear disclosure, which the filing provides; there are no reported sales, option exercises, or plan-based transactions in this filing.

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

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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)
08/26/2025

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	08/26/2025		P		356	A	$2.65	105,666	D
Common Stock	08/26/2025		P		18	A	$2.65	3,230(1)	I	SPOUSE
Common Stock	08/26/2025		P		180	A	$2.65	110,568(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/26/2025		P		180	A	$2.65	295,820(1)(2)	I	FRMO CORP
Common Stock	08/26/2025		P		296	A	$2.65	322,582(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/26/2025		P		18	A	$2.65	9,306(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/26/2025		P		82	A	$2.65	56,050(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 105,666 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	08/27/2025
	** 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.
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FAQ

Who filed the Form 4 for RCG?

The Form 4 was filed on behalf of Murray Stahl, a director and President/Co-Portfolio Manager of RENN Fund, Inc.

What transactions are reported on the RCG Form 4 dated 08/26/2025?

The filing reports open-market purchases (transaction code P) totaling 1,130 shares of common stock at $2.65 per share executed on 08/26/2025.

How many shares does Murray Stahl hold after these transactions?

The Form 4 shows 105,666 shares held directly by Mr. Stahl and additional indirect holdings reported through spouse and affiliated entities as listed in the filing.

Were any derivative securities reported in this Form 4?

No. Table II for derivative securities shows no reported derivative acquisitions or dispositions in this filing.

Is there a disclaimer about indirect ownership in the filing?

Yes. The filing states that Mr. Stahl disclaims beneficial ownership of each indirect account except to the extent of any pecuniary interest.