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

Rhea-AI Filing Summary

RENN Fund, Inc. insider Mr. Stahl, who serves as a director, president/co-portfolio manager and is a 10% owner, reported multiple open-market purchases of the fund’s common stock on 12/16/2025.

He bought 360 shares directly at $2.64 per share, bringing his direct holdings to 133,694 shares. Additional purchases at the same price occurred in accounts associated with his spouse and several entities, including 18 shares in a spouse account (4,634 shares after the trade) and 180 shares in FROMEX EQUITY CORP (124,608 shares after). Related accounts also report 309,860 shares in FRMO CORP, 345,658 shares in HORIZON COMMON INC., 10,710 shares in Horizon Kinetics Hard Assets LLC and 62,448 shares in Horizon Kinetics Asset Management LLC, where he disclaims beneficial ownership 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)
12/16/2025

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	12/16/2025		P		360	A	$2.64	133,694	D
Common Stock	12/16/2025		P		18	A	$2.64	4,634(1)	I	SPOUSE
Common Stock	12/16/2025		P		180	A	$2.64	124,608(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/16/2025		P		180	A	$2.64	309,860(1)(2)	I	FRMO CORP
Common Stock	12/16/2025		P		296	A	$2.64	345,658(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/16/2025		P		18	A	$2.64	10,710(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/16/2025		P		82	A	$2.64	62,448(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 133,694 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	12/17/2025
	** 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 transactions did RENN Fund (RCG) report on 12/16/2025?

RENN Fund (RCG) reported that insider Mr. Stahl purchased multiple small blocks of common stock on 12/16/2025, including 360 shares directly and additional shares in several indirectly owned or related accounts, all at a price of $2.64 per share.

How many RENN Fund (RCG) shares does Mr. Stahl hold directly after these trades?

After the reported 12/16/2025 transactions, Mr. Stahl directly holds 133,694 shares of RENN Fund (RCG) common stock.

What is Mr. Stahls relationship to RENN Fund (RCG)?

Mr. Stahl is a director, serves as President/Co-Portfolio Manager, and is identified as a 10% owner of RENN Fund (RCG).

Which indirect RENN Fund (RCG) holdings are associated with entities linked to Mr. Stahl?

Accounts associated with Mr. Stahl report indirect holdings of RENN Fund (RCG) common stock, including 4,634 shares in a spouse account, 124,608 in FROMEX EQUITY CORP, 309,860 in FRMO CORP, 345,658 in HORIZON COMMON INC., 10,710 in Horizon Kinetics Hard Assets LLC and 62,448 in Horizon Kinetics Asset Management LLC, with beneficial ownership disclaimed except for any pecuniary interest.