RENN Fund (RCG) President adds to direct and indirect share holdings

Rhea-AI Filing Summary

RENN Fund, Inc. insider transactions show the President/Co-Portfolio Manager and director buying additional common shares on 12/26/2025 at $2.65 per share. The reporting person acquired 360 shares held directly, bringing direct ownership to 136,214 shares. Additional purchases were made through several indirect accounts, including 18 shares attributed to a spouse and multiple blocks ranging from 18 to 296 shares through entities such as FROMEX EQUITY CORP, FRMO CORP, Horizon-related entities, and asset management affiliates.

The indirect positions following these trades include, among others, 4,760 shares via a spouse and larger stakes such as 311,120 shares via FRMO CORP and 347,730 shares via HORIZON COMMON INC., with the reporting person disclaiming beneficial ownership in the indirect accounts except to the extent of any pecuniary interest.

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

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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)
12/26/2025

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	12/26/2025		P		360	A	$2.65	136,214	D
Common Stock	12/26/2025		P		18	A	$2.65	4,760(1)	I	SPOUSE
Common Stock	12/26/2025		P		180	A	$2.65	125,868(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/26/2025		P		180	A	$2.65	311,120(1)(2)	I	FRMO CORP
Common Stock	12/26/2025		P		296	A	$2.65	347,730(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/26/2025		P		18	A	$2.65	10,836(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/26/2025		P		82	A	$2.65	63,022(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 136,214 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	12/29/2025
	** 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 transaction did RENN Fund (RCG) report on this Form 4?

The filing reports that the President/Co-Portfolio Manager and director of RENN Fund, Inc. bought additional shares of common stock on 12/26/2025 at a price of $2.65 per share, both directly and through several indirect accounts.

How many RENN Fund (RCG) shares does the insider now hold directly?

After the reported transaction, the insider directly holds 136,214 shares of RENN Fund, Inc. common stock, following a direct purchase of 360 shares at $2.65 per share.

What indirect holdings are reported for the RENN Fund (RCG) insider?

Indirect holdings include, among others, 4,760 shares attributed to a spouse, 125,868 shares via FROMEX EQUITY CORP, 311,120 shares via FRMO CORP, 347,730 via HORIZON COMMON INC., 10,836 via Horizon Kinetics Hard Assets LLC, and 63,022 via Horizon Kinetics Asset Management LLC.

Did the RENN Fund (RCG) insider buy or sell shares in this filing?

All reported transactions on 12/26/2025 are purchases of RENN Fund common stock, coded as transaction code P (open market or private purchase) at a price of $2.65 per share.

Does the RENN Fund (RCG) insider claim full beneficial ownership of the indirect accounts?

No. The filing states that for each indirect account, the insider disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Who is the reporting person in this RENN Fund (RCG) Form 4 and what is their role?

The reporting person is identified as Mr. Stahl, who serves as a director and Officer of RENN Fund, Inc., with the title President/Co-Portfolio Manager.