RENN Fund (RCG) insider purchase: Stahl reports direct 114,970 shares

Rhea-AI Filing Summary

Murray Stahl, a director and President/Co-Portfolio Manager, reported purchases of RENN Fund, Inc. (RCG) common stock on 10/02/2025. The filing lists multiple acquisitions at a purchase price of $2.61 per share, including a direct holding of 114,970 shares following a reported purchase of 360 shares. Several additional indirect accounts are shown with beneficial ownership figures: 3,698, 115,248, 300,500, 330,248, 9,774, and 58,182 shares, as reported in the table.

An explanatory note states the 114,970 figure is separate from the indirect-account totals and that Mr. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest. The form is signed by an attorney-in-fact on 10/03/2025.

Positive

• Insider purchases recorded on 10/02/2025 at $2.61 per share
• Direct holding reported at 114,970 shares following the transaction

Negative

• None.

Insights

Insider Transactions Analyst

TL;DR: Director bought shares at $2.61 on 10/02/2025.

The Form 4 shows purchases executed on 10/02/2025 at a price of $2.61 per share, with a reported direct holding of 114,970 shares after a 360-share acquisition. Multiple indirect accounts are listed with specific share totals.

This matters because Form 4s disclose insider open-market or private acquisitions and provide transparency on executive and affiliated-party holdings; the filing confirms only acquisitions (no dispositions) were reported on that date.

Corporate Governance Specialist

TL;DR: Ownership structure includes direct and several indirect accounts with a disclaimer.

The report differentiates a direct stake of 114,970 shares from several indirect holdings (e.g., 300,500, 330,248, 115,248) and expressly disclaims beneficial ownership of those indirect accounts except for any pecuniary interest.

That disclaimer is a standard disclosure affecting how ownership is interpreted; it limits automatic attribution of voting or investment control to the reporting person based on the listed indirect accounts.

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
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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).

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)
10/02/2025

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	10/02/2025		P		360	A	$2.61	114,970	D
Common Stock	10/02/2025		P		18	A	$2.61	3,698(1)	I	SPOUSE
Common Stock	10/02/2025		P		180	A	$2.61	115,248(1)(2)	I	FROMEX EQUITY CORP
Common Stock	10/02/2025		P		180	A	$2.61	300,500(1)(2)	I	FRMO CORP
Common Stock	10/02/2025		P		296	A	$2.61	330,248(1)(2)	I	HORIZON COMMON INC.
Common Stock	10/02/2025		P		18	A	$2.61	9,774(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	10/02/2025		P		82	A	$2.61	58,182(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 114,970 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	10/03/2025
	** 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

What did Murray Stahl report on Form 4 for RCG?

He reported acquisitions of RENN Fund (RCG) common stock on 10/02/2025, with transactions priced at $2.61 per share and a direct holding shown as 114,970 shares.

How many shares were directly acquired according to the filing?

The filing shows a reported direct acquisition that left Mr. Stahl with 114,970 shares following the reported transaction(s).

Are there indirect holdings listed in the Form 4 for RCG?

Yes. The form lists multiple indirect-account balances, including 115,248, 300,500, 330,248, 9,774, and 58,182 shares, with a disclaimer of beneficial ownership for those accounts.

What price per share is shown on the Form 4 transactions?

All reported acquisitions on 10/02/2025 list a purchase price of $2.61 per share.

Who signed the Form 4 filing for Murray Stahl?

The filing is signed by Jay Kesslen, attorney-in-fact on 10/03/2025.