[Form 4] RENN Fund, Inc. Insider Trading Activity

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) insider Mr. Stahl, an officer (President/Co‑Portfolio Manager) and director, reported open‑market purchases of common stock at $2.58 on 10/27/2025.

Reported acquisitions included 360 shares purchased directly and additional small purchases through multiple affiliated or related accounts. Following these transactions, beneficial holdings were listed as 121,094 shares direct, and indirect amounts including 4,004 via spouse, 118,308 via Fromex Equity Corp, 303,560 via FRMO Corp, and 335,298 via Horizon Common Inc., among others. The filing notes Mr. Stahl disclaims beneficial ownership in the indirect accounts except to the extent of his pecuniary interest.

Insights

Insider transactions analyst

Routine insider buys at $2.58; neutral for valuation.

The reporting person executed multiple open‑market purchases on 10/27/2025 at $2.58 per share, spanning direct and indirect accounts. Form 4 codes show "P" transactions, indicating purchases rather than sales.

Post‑trade positions include 121,094 shares held directly and several indirect holdings (e.g., 303,560 via FRMO Corp; 335,298 via Horizon Common Inc.). The filing states a disclaimer of beneficial ownership for indirect accounts except for pecuniary interest.

As typical with Form 4 disclosures, the impact on company fundamentals is limited. The significance depends on holder decisions and future disclosures in subsequent filings.

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).

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)
10/27/2025

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	10/27/2025		P		360	A	$2.58	121,094	D
Common Stock	10/27/2025		P		18	A	$2.58	4,004(1)	I	SPOUSE
Common Stock	10/27/2025		P		180	A	$2.58	118,308(1)(2)	I	FROMEX EQUITY CORP
Common Stock	10/27/2025		P		180	A	$2.58	303,560(1)(2)	I	FRMO CORP
Common Stock	10/27/2025		P		296	A	$2.58	335,298(1)(2)	I	HORIZON COMMON INC.
Common Stock	10/27/2025		P		18	A	$2.58	10,080(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	10/27/2025		P		82	A	$2.58	59,578(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 121,094 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	10/28/2025
	** 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 did RCG insider Mr. Stahl report on the latest Form 4?

He reported open‑market purchases of RENN Fund (RCG) common stock at $2.58 on 10/27/2025.

How many RCG shares did the insider buy directly and at what price?

Directly acquired 360 shares at $2.58 per share.

What are Mr. Stahl’s direct RCG holdings after the transactions?

Direct beneficial ownership was listed as 121,094 shares following the reported transactions.

Which indirect accounts reported RCG holdings and how many shares?

Examples include FRMO Corp with 303,560 shares and Horizon Common Inc. with 335,298 shares.

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

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

What transaction code was used on the Form 4 for these trades?

Code P, indicating open‑market purchases.