RENN Fund (RCG) leader Murray Stahl reports new insider stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. insider Murray Stahl, who serves as President, Co-Portfolio Manager, Director and a 10% owner of RCG, reported multiple open‑market purchases of common stock on 12/29/2025. Each trade is coded "P" for a purchase.

Stahl bought 360 RENN Fund common shares at $2.65 per share in a direct account, bringing his directly held stake to 136,574 shares. He also reported additional purchases at $2.65 per share through several indirect accounts, including family and affiliated entities.

Following these trades, reported indirect holdings include 4,778 shares held by his spouse, 126,048 shares through FROMEX EQUITY CORP, 311,300 shares through FRMO CORP, 348,026 shares through HORIZON COMMON INC., 10,854 shares through Horizon Kinetics Hard Assets LLC, and 63,104 shares through Horizon Kinetics Asset Management LLC. Stahl disclaims beneficial ownership of the indirect accounts except to the extent of his 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

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)
12/29/2025

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	12/29/2025		P		360	A	$2.65	136,574	D
Common Stock	12/29/2025		P		18	A	$2.65	4,778(1)	I	SPOUSE
Common Stock	12/29/2025		P		180	A	$2.65	126,048(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/29/2025		P		180	A	$2.65	311,300(1)(2)	I	FRMO CORP
Common Stock	12/29/2025		P		296	A	$2.65	348,026(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/29/2025		P		18	A	$2.65	10,854(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/29/2025		P		82	A	$2.65	63,104(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 136,574 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	12/30/2025
	** 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).
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FAQ

What insider transactions did RENN Fund (RCG) report for Murray Stahl?

Murray Stahl reported multiple open‑market purchases of RENN Fund, Inc. (RCG) common stock on 12/29/2025, all coded "P" for purchase at $2.65 per share.

How many RENN Fund (RCG) shares does Murray Stahl now hold directly?

After the reported transactions, Murray Stahl directly owns 136,574 shares of RENN Fund common stock.

What indirect RENN Fund (RCG) holdings are associated with Murray Stahl?

Indirect accounts reported include 4,778 shares held by his spouse, 126,048 via FROMEX EQUITY CORP, 311,300 via FRMO CORP, 348,026 via HORIZON COMMON INC., 10,854 via Horizon Kinetics Hard Assets LLC, and 63,104 via Horizon Kinetics Asset Management LLC, with Stahl disclaiming beneficial ownership except for any pecuniary interest.

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

All reported purchases of RENN Fund common stock on 12/29/2025 were made at a price of $2.65 per share.

What is Murray Stahl’s role at RENN Fund (RCG)?

Murray Stahl is a Director, President, and Co‑Portfolio Manager of RENN Fund, Inc., and is identified as a 10% Owner.

Does Murray Stahl claim full beneficial ownership of all reported indirect RENN Fund (RCG) accounts?

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