RENN Fund (RCG) president and 10% owner reports new insider share purchases

Rhea-AI Filing Summary

RENN Fund, Inc. reported insider stock purchases by its president and co-portfolio manager, who is also a director and 10% owner. On 11/28/2025, he bought multiple small blocks of RENN Fund common stock at a price of $2.59 per share across several accounts, including his own, his spouse’s, and various entities such as FROMEX Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC.

After these transactions, he held 129,374 shares directly, while additional shares were reported as indirectly owned through his spouse and the listed entities. The filing notes that he disclaims beneficial ownership of the indirect holdings 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)
11/28/2025

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	11/28/2025		P		360	A	$2.59	129,374	D
Common Stock	11/28/2025		P		18	A	$2.59	4,418(1)	I	SPOUSE
Common Stock	11/28/2025		P		180	A	$2.59	122,448(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/28/2025		P		180	A	$2.59	307,700(1)(2)	I	FRMO CORP
Common Stock	11/28/2025		P		296	A	$2.59	342,106(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/28/2025		P		18	A	$2.59	10,494(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/28/2025		P		82	A	$2.59	61,464(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 129,374 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	12/01/2025
	** 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 insider transaction did RENN Fund, Inc. (RCG) report on this Form 4?

The filing reports that the president, co-portfolio manager, director, and 10% owner of RENN Fund, Inc. (RCG) purchased multiple small blocks of common stock on 11/28/2025 at $2.59 per share across direct and indirect accounts.

What is the reporting person’s role and relationship to RENN Fund, Inc. (RCG)?

The reporting person is a director, a 10% owner, and an officer of RENN Fund, Inc., serving as President/Co-Portfolio Manager.

How many RENN Fund (RCG) shares does the insider hold directly after these trades?

Following the reported transactions, the insider held 129,374 shares of RENN Fund common stock directly.

Which indirect accounts hold RENN Fund (RCG) shares for the reporting person?

Indirect holdings are reported through the insider’s spouse and entities including FROMEX Equity Corp, FRMO Corp, Horizon Common Inc., and Horizon Kinetics Hard Assets LLC.

Does the insider fully claim beneficial ownership of all indirect RENN Fund (RCG) shares?

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

Were any derivative securities of RENN Fund (RCG) reported in this Form 4?

Table II for derivative securities is included but does not list any derivative security transactions for this reporting date.