RENN Fund Form 4: President adds to stake with 1,132-share purchase

Rhea-AI Filing Summary

On 9 July 2025, Murray Stahl—President, Co-Portfolio Manager and 10 % owner of RENN Fund, Inc. (RCG)—filed a Form 4 detailing open-market purchases of the company’s common stock.

• Total acquired: 1,132 shares at $2.71 each (approx. $3,070).
• Direct purchase: 360 shares, increasing his direct holding to 93,530 shares.
• Indirect purchases: 772 shares allocated across seven related accounts (spouse and several corporate entities).

After the transactions, Stahl reports beneficial ownership—direct and indirect—of roughly 864,752 shares. He disclaims beneficial ownership of the indirect accounts except to the extent of his pecuniary interest.

No sales or derivative transactions were reported. The filing reflects continued insider accumulation, though the size is modest relative to his existing position.

Positive

• President/10 % owner Murray Stahl purchased 1,132 shares on the open market, indicating continued insider confidence.

Negative

• The acquisition adds less than 0.2 % to his existing stake, so the transaction’s signaling power is limited.

Insights

Financial Analyst

TL;DR: Minor insider buy signals confidence but immaterial versus 865k-share stake; neutral-to-slightly positive for sentiment.

Context: Murray Stahl is both President and a 10 % owner, so his trades are closely watched. The purchase of 1,132 shares at $2.71 represents less than 0.2 % of his reported holdings. While insider buying is generally viewed favorably, the low dollar value (~$3 k) limits its impact on fundamental valuation. Still, the absence of sales and steady accumulation can marginally bolster investor confidence, especially in thinly traded closed-end funds like RCG.

Impact assessment: Not materially impactful to the company’s financials, but it is a modest positive sentiment indicator. Rating: Neutral (0).

Insider Trade Summary

Net Buyer: 1,132 shares ($3,068)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,132 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.71	$975.60
Purchase	Common Stock	18	$2.71	$48.78
Purchase	Common Stock	180	$2.71	$487.80
Purchase	Common Stock	180	$2.71	$487.80
Purchase	Common Stock	290	$2.71	$785.90
Purchase	Common Stock	18	$2.71	$48.78
Purchase	Common Stock	86	$2.71	$233.06

Holdings After Transaction: Common Stock — 93,530 shares (Direct); Common Stock — 2,618 shares (Indirect, SPOUSE)

Footnotes (1)

1. This figure does not include 93,530 shares held directly by Mr. Stahl. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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)
07/09/2025

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	07/09/2025		P		360	A	$2.71	93,530	D
Common Stock	07/09/2025		P		18	A	$2.71	2,618(1)	I	SPOUSE
Common Stock	07/09/2025		P		180	A	$2.71	104,448(1)(2)	I	FROMEX EQUITY CORP
Common Stock	07/09/2025		P		180	A	$2.71	289,700(1)(2)	I	FRMO CORP
Common Stock	07/09/2025		P		290	A	$2.71	312,500(1)(2)	I	HORIZON COMMON INC.
Common Stock	07/09/2025		P		18	A	$2.71	8,694(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	07/09/2025		P		86	A	$2.71	53,262(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 93,530 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	07/10/2025
	** 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

How many RCG shares did Murray Stahl buy on 9 July 2025?

He purchased 1,132 common shares at $2.71 each.

What is Murray Stahl’s total direct holding in RCG after the purchase?

His direct holding increased to 93,530 shares.

What is the aggregate number of shares Murray Stahl now reports as beneficially owned?

Including indirect accounts, the Form 4 shows about 864,752 shares under his beneficial ownership.

Were any RCG shares sold or derivative securities involved in this Form 4?

No. The filing reports only purchases of common stock; no sales or derivatives were disclosed.

Why is insider buying considered important for investors?

Purchases by senior insiders can signal confidence in the company’s prospects because they are putting personal capital at risk.