RENN Fund (RCG) officer Stahl reports new stock purchases

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) reported insider share purchases by an officer identified as Mr. Stahl, who serves as President and Co-Portfolio Manager. On 11/19/2025, he bought 360 shares of RCG common stock at $2.66 per share, bringing his directly held position to 127,214 shares.

On the same date, additional purchases at $2.66 per share were reported in several indirect accounts: 18 shares attributed to his spouse, 180 shares through FROMEX EQUITY CORP, 180 shares through FRMO CORP, 296 shares through HORIZON COMMON INC., 18 shares through Horizon Kinetics Hard Assets LLC, and 82 shares through HORIZON KINETICS ASSET MANAGEMENT LLC. Footnotes state that the indirect figures do not include the 127,214 shares held directly and that Mr. Stahl disclaims beneficial ownership in the indirect accounts except to the extent of his pecuniary interest, if any.

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)
11/19/2025

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	11/19/2025		P		360	A	$2.66	127,214	D
Common Stock	11/19/2025		P		18	A	$2.66	4,310(1)	I	SPOUSE
Common Stock	11/19/2025		P		180	A	$2.66	121,368(1)(2)	I	FROMEX EQUITY CORP
Common Stock	11/19/2025		P		180	A	$2.66	306,620(1)(2)	I	FRMO CORP
Common Stock	11/19/2025		P		296	A	$2.66	340,330(1)(2)	I	HORIZON COMMON INC.
Common Stock	11/19/2025		P		18	A	$2.66	10,386(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	11/19/2025		P		82	A	$2.66	60,972(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 127,214 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	11/20/2025
	** 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 (RCG) report for Mr. Stahl?

The filing reports that Mr. Stahl, an officer of RENN Fund, Inc. (RCG), bought 360 shares of common stock at $2.66 per share, increasing his directly held position to 127,214 shares.

When did the reported RENN Fund (RCG) insider transactions occur?

All the reported purchases of RENN Fund, Inc. (RCG) common stock took place on 11/19/2025.

At what price were the RENN Fund (RCG) shares purchased in this Form 4?

Each reported purchase of RENN Fund, Inc. (RCG) common stock, both direct and indirect, was made at a price of $2.66 per share.

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

Following the reported transaction, Mr. Stahl directly owns 127,214 shares of RENN Fund, Inc. (RCG) common stock.

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

Indirect holdings reported include 4,310 shares via his spouse and, in separate accounts, 121,368 shares via FROMEX EQUITY CORP, 306,620 via FRMO CORP, 340,330 via HORIZON COMMON INC., 10,386 via Horizon Kinetics Hard Assets LLC, and 60,972 via HORIZON KINETICS ASSET MANAGEMENT LLC.

Does Mr. Stahl claim full beneficial ownership of the indirect RENN Fund (RCG) shares?

No. The filing states that for each indirect account, Mr. Stahl disclaims beneficial ownership of RENN Fund, Inc. (RCG) shares except to the extent of his pecuniary interest, if any.

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

Mr. Stahl is identified as an officer of RENN Fund, Inc. (RCG), with the title President/Co-Portfolio Manager.