RENN Fund (RCG) President and 10% owner records multiple stock buys

Rhea-AI Filing Summary

RENN Fund, Inc. insider activity shows its President and Co-Portfolio Manager, who is also a director and 10% owner, reporting multiple open-market purchases of common stock on 12/18/2025. The filing lists a direct purchase of 360 shares at $2.65 per share, bringing the directly held amount to 134,414 shares. Additional purchases at the same price were made through several indirect accounts, including a spouse and affiliated entities such as FROMEX EQUITY CORP, FRMO CORP, Horizon-related entities, and Horizon Kinetics Asset Management LLC, increasing their respective reported indirect holdings. The reporting person states that for each indirect account, beneficial ownership is disclaimed 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)
12/18/2025

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	12/18/2025		P		360	A	$2.65	134,414	D
Common Stock	12/18/2025		P		18	A	$2.65	4,670(1)	I	SPOUSE
Common Stock	12/18/2025		P		180	A	$2.65	124,968(1)(2)	I	FROMEX EQUITY CORP
Common Stock	12/18/2025		P		180	A	$2.65	310,220(1)(2)	I	FRMO CORP
Common Stock	12/18/2025		P		296	A	$2.65	346,250(1)(2)	I	HORIZON COMMON INC.
Common Stock	12/18/2025		P		18	A	$2.65	10,746(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	12/18/2025		P		82	A	$2.65	62,612(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 134,414 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	12/19/2025
	** 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 transaction did RENN Fund (RCG) report on 12/18/2025?

The report shows the President/Co-Portfolio Manager, also a director and 10% owner, purchasing multiple lots of RENN Fund, Inc. common stock on 12/18/2025, including a direct buy and several indirect purchases through related accounts.

How many RENN Fund (RCG) shares did the insider hold directly after the transaction?

Following the reported transactions, the insider directly beneficially owned 134,414 shares of RENN Fund, Inc. common stock.

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

All reported acquisitions of RENN Fund, Inc. common stock on 12/18/2025 were executed at a price of $2.65 per share.

Which indirect accounts are listed for the RENN Fund (RCG) insider?

Indirect holdings are reported through the insider’s spouse, FROMEX EQUITY CORP, FRMO CORP, HORIZON COMMON INC., Horizon Kinetics Hard Assets LLC, and HORIZON KINETICS ASSET MANAGEMENT LLC.

What does the RENN Fund (RCG) insider say about beneficial ownership of indirect accounts?

The insider notes that for each indirect account, they disclaim beneficial ownership except to the extent of their pecuniary interest, if any.

What role does the reporting person hold at RENN Fund (RCG)?

The reporting person is a director, 10% owner, and serves as President/Co-Portfolio Manager of RENN Fund, Inc..