Form 4: RENN Fund Insider Boosts Stake via Planned Purchase

Murray Stahl, a Director and 10% Owner of RENN Fund, Inc., increased his beneficial ownership through a series of common stock purchases totaling 1,110 shares at $2.66 per share.

Summary

• Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported the acquisition of common stock.
• The transactions occurred on August 6, 2025, and were made pursuant to a Rule 10b5-1(c) pre-planned contract, instruction, or written plan.
• Mr. Stahl directly acquired 356 shares of common stock at a price of $2.66 per share, increasing his direct beneficial ownership to 100,682 shares.
• Indirect acquisitions were also reported through various entities at $2.66 per share:
• 18 shares through a spouse, resulting in 2,978 shares beneficially owned.
• 180 shares through FROMEX EQUITY CORP, resulting in 108,048 shares beneficially owned.
• 180 shares through FRMO CORP, resulting in 293,300 shares beneficially owned.
• 296 shares through HORIZON COMMON INC., resulting in 318,438 shares beneficially owned.
• 18 shares through Horizon Kinetics Hard Assets LLC, resulting in 9,054 shares beneficially owned.
• 82 shares through HORIZON KINETICS ASSET MANAGEMENT LLC, resulting in 54,902 shares beneficially owned.
• The total number of shares acquired across all direct and indirect holdings in these transactions is 1,110 shares.
• Following these transactions, Mr. Stahl's total beneficial ownership, including direct and indirect holdings, amounts to 887,402 shares.

Sentiment

Score: 8

Explanation: The insider buying by a key executive and significant owner, especially under a pre-planned Rule 10b5-1 program, indicates strong confidence in the company's current valuation and future prospects, which is a highly positive signal for investors.

Positives

• A key insider, Murray Stahl, who serves as a Director, 10% Owner, and President/Co-Portfolio Manager, increased his stake in the company, signaling confidence in its future prospects.
• The purchases were made at a consistent price of $2.66 per share, indicating a clear valuation point for the insider.
• The transactions were executed under a Rule 10b5-1(c) plan, which suggests a pre-planned investment strategy rather than a reaction to immediate market events.

Related Party Transactions

• Murray Stahl's beneficial ownership includes shares held indirectly through entities such as FROMEX EQUITY CORP, FRMO CORP, HORIZON COMMON INC., Horizon Kinetics Hard Assets LLC, and HORIZON KINETICS ASSET MANAGEMENT LLC. Mr. Stahl disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders may view the insider buying as a positive indicator of management's belief in the company's value, potentially increasing investor confidence and demand for the stock.

Key Dates

Recommendation

The significant insider buying by Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager, signals strong conviction in RENN Fund, Inc.'s valuation and future performance. Such actions by key insiders often precede positive developments or reflect a belief that the stock is undervalued, making it a compelling 'strong buy' signal for seasoned investors.

Keywords

RENN Fund, RCG, Murray Stahl, Insider Trading, Form 4, Stock Purchase, Beneficial Ownership, 10b5-1 Plan, Investment Management