Form 4: RENN Fund Insider Murray Stahl Buys More Stock

Murray Stahl, a Director and 10% owner of RENN Fund, Inc., increased his direct and indirect holdings of common stock on October 1, 2025, at $2.61 per share.

Summary

• Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager of RENN Fund, Inc. (RCG), reported multiple acquisitions of common stock.
• Transactions occurred on October 1, 2025, at a price of $2.61 per share.
• Mr. Stahl directly acquired 360 shares.
• Indirect acquisitions included 18 shares via Spouse, 180 shares via FROMEX EQUITY CORP, 180 shares via FRMO CORP, 296 shares via HORIZON COMMON INC., 18 shares via Horizon Kinetics Hard Assets LLC, and 82 shares via HORIZON KINETICS ASSET MANAGEMENT LLC.
• Following these transactions, Mr. Stahl directly beneficially owns 114,610 shares of common stock.
• Indirect beneficial ownership totals 816,876 shares across various entities.
• Mr. Stahl disclaims beneficial ownership for indirect accounts except to the extent of his pecuniary interest, if any.

Sentiment

Score: 8

Explanation: The filing indicates significant insider buying by a key executive and 10% owner, Murray Stahl, which typically signals strong confidence in the company's future performance and valuation.

Positives

• Murray Stahl, a key insider (Director, 10% Owner, President/Co-Portfolio Manager), increased his direct and indirect holdings in RENN Fund, Inc. by a total of 1,114 shares.
• The acquisitions were made at a consistent price of $2.61 per share, indicating management's confidence in the company's valuation.
• The total beneficial ownership by Mr. Stahl, including direct and indirect holdings, now stands at 931,486 shares, aligning his interests with shareholders.

Future Outlook

NA

Management Comments

• For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Industry Context

NA

Related Party Transactions

• Acquisition of 18 shares of common stock by Mr. Stahl's Spouse.
• Acquisition of 180 shares of common stock by FROMEX EQUITY CORP.
• Acquisition of 180 shares of common stock by FRMO CORP.
• Acquisition of 296 shares of common stock by HORIZON COMMON INC.
• Acquisition of 18 shares of common stock by Horizon Kinetics Hard Assets LLC.
• Acquisition of 82 shares of common stock by HORIZON KINETICS ASSET MANAGEMENT LLC.
• Mr. Stahl disclaims beneficial ownership for these indirect accounts except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: Increased confidence due to insider buying, potentially positive impact on stock price.

Key Dates

Recommendation

The significant insider buying by Murray Stahl, a Director, 10% Owner, and President/Co-Portfolio Manager, suggests strong confidence in RENN Fund, Inc.'s prospects at the current share price of $2.61. Such actions by a key executive and substantial shareholder are often interpreted as a positive signal for future stock performance, warranting a 'buy' recommendation.

Keywords

RENN Fund, RCG, Murray Stahl, insider trading, Form 4, beneficial ownership, common stock, stock acquisition, investment