RENN Fund (RCG) president and 10% owner Murray Stahl buys more shares

Rhea-AI Filing Summary

RENN Fund, Inc. insider Murray Stahl reported buying additional shares of the company’s common stock. On 12/19/2025, he purchased 360 shares directly at $2.65 per share, and several small additional amounts at the same price in accounts held by his spouse and affiliated entities. Following these transactions, he reports direct ownership of 134,774 shares, with further indirect holdings in multiple related accounts. Stahl is listed as the fund’s President/Co-Portfolio Manager and a 10% owner, and he states that he disclaims beneficial ownership of 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

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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)
12/19/2025

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	12/19/2025		P		360	A	$2.65	134,774	D
Common Stock	12/19/2025		P		18	A	$2.65	4,688(1)	I	SPOUSE
Common Stock	12/19/2025		P		180	A	$2.65	125,148(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/19/2025		P		180	A	$2.65	310,400(1)(2)	I	FRMO CORP
Common Stock	12/19/2025		P		296	A	$2.65	346,546(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/19/2025		P		18	A	$2.65	10,764(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/19/2025		P		82	A	$2.65	62,694(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 134,774 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	12/22/2025
	** 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) disclose?

RENN Fund, Inc. disclosed that insider Murray Stahl reported purchases of the company’s common stock, including 360 shares bought directly on 12/19/2025 at $2.65 per share, along with additional small purchases in several related accounts at the same price.

Who is the reporting person in this RENN Fund (RCG) filing and what is his role?

The reporting person is Murray Stahl. He is identified as a Director, President/Co-Portfolio Manager, and a 10% owner of RENN Fund, Inc.

How many RENN Fund (RCG) shares does Murray Stahl report owning directly after the transaction?

After the reported transactions, Murray Stahl lists 134,774 shares of RENN Fund, Inc. common stock as held directly.

At what price were the RENN Fund (RCG) insider purchases made?

Each reported purchase of RENN Fund, Inc. common stock on 12/19/2025 was made at a price of $2.65 per share.

What indirect holdings in RENN Fund (RCG) are reported for Murray Stahl?

The filing shows indirect ownership of RENN Fund, Inc. common stock through his spouse and entities such as FROMEX EQUITY CORP, FRMO CORP, HORIZON COMMON INC., Horizon Kinetics Hard Assets LLC, and HORIZON KINETICS ASSET MANAGEMENT LLC.

Does Murray Stahl claim full beneficial ownership of his indirect RENN Fund (RCG) holdings?

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