RCG Form 4: Insider Murray Stahl Reports Purchases on 08/29/2025

Rhea-AI Filing Summary

RENn Fund, Inc. (RCG) Form 4: Murray Stahl, identified as a Director and President/Co-Portfolio Manager, reported multiple purchases of the issuer's common stock on 08/29/2025 at a price of $2.68 per share. The filing shows a direct purchase of 356 shares, resulting in 106,734 shares held directly after the transaction. Additional reported acquisitions on the same date were recorded as indirect holdings across accounts identified as spouse and several entities, with various post-transaction beneficial ownership totals disclosed for each account. The filing includes a customary disclaimer that Mr. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest. The Form 4 is signed by an attorney-in-fact on behalf of Mr. Stahl on 09/02/2025.

Positive

• Insider purchases disclosed: Multiple acquisitions on 08/29/2025 at $2.68 per share are reported, including a direct purchase of 356 shares increasing direct holdings to 106,734 shares.
• Complete role disclosure: Reporting person identified as Director and President/Co-Portfolio Manager, providing clarity on insider status.
• Proper execution: Form signed by attorney-in-fact with date (09/02/2025), meeting filing formalities.

Negative

• None.

Insights

Financial Analyst

TL;DR Insider purchases on 08/29/2025 show direct and multiple indirect increases at $2.68, modest in size but notable for disclosure.

The Form 4 reports that Murray Stahl executed purchases of RENN Fund common stock at $2.68 per share on 08/29/2025. The direct acquisition of 356 shares increased his direct holdings to 106,734 shares. Additional acquisitions were recorded as indirect via a spouse and several affiliated entities, with separate beneficial ownership totals shown for each account. These entries are disclosure-driven and do not provide operational or financial performance data for the issuer, but they are relevant for monitoring insider activity and ownership concentration.

Corporate Governance Expert

TL;DR Filing clearly discloses insider purchases and appropriate ownership disclaimers; signatures and dates are in order.

The Form 4 properly identifies the reporting persons roles as Director and President/Co-Portfolio Manager and discloses multiple purchases executed on 08/29/2025 at $2.68 per share. Indirect ownership is documented with a standard disclaimer of beneficial ownership for the indirect accounts. The form is executed by an attorney-in-fact and dated 09/02/2025, satisfying signature requirements. No amendments or conflicting entries are shown.

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)
08/29/2025

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	08/29/2025		P		356	A	$2.68	106,734	D
Common Stock	08/29/2025		P		18	A	$2.68	3,284(1)	I	SPOUSE
Common Stock	08/29/2025		P		180	A	$2.68	111,108(1)(2)	I	FROMEX EQUITY CORP
Common Stock	08/29/2025		P		180	A	$2.68	296,360(1)(2)	I	FRMO CORP
Common Stock	08/29/2025		P		296	A	$2.68	323,470(1)(2)	I	HORIZON COMMON INC.
Common Stock	08/29/2025		P		18	A	$2.68	9,360(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	08/29/2025		P		82	A	$2.68	56,296(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 106,734 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	09/02/2025
	** 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 transactions did Murray Stahl report on Form 4 for RCG?

The filing reports multiple purchases on 08/29/2025 of RENN Fund common stock at $2.68 per share, including a direct purchase of 356 shares.

How many shares does Murray Stahl hold directly after the reported transactions?

The Form 4 shows 106,734 shares held directly following the reported direct purchase.

Were any indirect holdings disclosed in the Form 4 for RCG?

Yes. The filing lists indirect holdings across accounts labeled spouse and several entities, with post-transaction beneficial ownership totals disclosed and a disclaimer that Mr. Stahl disclaims beneficial ownership except to the extent of any pecuniary interest.

What price were the reported RCG shares purchased at?

All reported purchases on the Form 4 were at a price of $2.68 per share.

Who signed the Form 4 and when?

The Form 4 is signed by Jay Kesslen, attorney-in-fact on 09/02/2025.