[Form 4] RENN Fund Inc. Insider Trading Activity
RENN Fund, Inc. (RCG) 鈥� Form 4 insider activity
On 07/03/2025, Murray Stahl 鈥� the fund鈥檚 President, Co-Portfolio Manager, Director and >10% owner 鈥� disclosed a series of open-market purchases totaling 1,144 common shares at a uniform price of $2.66 per share (鈮� $3.0 thousand aggregate). The trades were allocated across seven accounts: 356 shares bought directly and 788 shares through six affiliated or family accounts, including FRMO Corp., Fromex Equity Corp., Horizon Common Inc., and several Horizon Kinetics entities, plus 18 shares in his spouse鈥檚 account.
Post-transaction, the filing lists 92,458 shares held directly by Mr. Stahl and more than 768 k shares indirectly via related entities, reaffirming his status as a significant insider. No derivative securities were involved, and no sales were reported.
While the dollar amount is modest relative to his existing stake, the continued open-market buying鈥攔ather than option exercises鈥攐ffers a marginally positive signal of management confidence without materially altering the ownership structure.
RENN Fund, Inc. (RCG) 鈥� Attivit脿 insider Form 4
Il 03/07/2025, Murray Stahl 鈥� Presidente del fondo, Co-Gestore del portafoglio, Direttore e azionista con oltre il 10% 鈥� ha comunicato una serie di acquisti sul mercato aperto per un totale di 1.144 azioni ordinarie a un prezzo uniforme di 2,66 $ per azione (circa 3.000 $ complessivi). Gli acquisti sono stati suddivisi su sette conti: 356 azioni acquistate direttamente e 788 azioni tramite sei conti affiliati o familiari, inclusi FRMO Corp., Fromex Equity Corp., Horizon Common Inc., diverse entit脿 Horizon Kinetics e 18 azioni nel conto della moglie.
Dopo la transazione, la dichiarazione riporta 92.458 azioni detenute direttamente da Mr. Stahl e oltre 768.000 azioni indirettamente tramite entit脿 correlate, confermando il suo ruolo di insider significativo. Non sono stati coinvolti strumenti derivati e non sono state segnalate vendite.
Nonostante l鈥檌mporto in dollari sia modesto rispetto alla sua partecipazione attuale, il continuo acquisto sul mercato aperto 鈥� invece di esercizi di opzioni 鈥� rappresenta un segnale lievemente positivo di fiducia da parte della direzione, senza modificare sostanzialmente la struttura proprietaria.
RENN Fund, Inc. (RCG) 鈥� Actividad de insider en el Formulario 4
El 03/07/2025, Murray Stahl 鈥� Presidente del fondo, Co-Gestor de cartera, Director y propietario de m谩s del 10% 鈥� revel贸 una serie de compras en el mercado abierto por un total de 1,144 acciones comunes a un precio uniforme de $2.66 por acci贸n (aproximadamente $3,000 en total). Las operaciones se distribuyeron en siete cuentas: 356 acciones compradas directamente y 788 a trav茅s de seis cuentas afiliadas o familiares, incluyendo FRMO Corp., Fromex Equity Corp., Horizon Common Inc., varias entidades de Horizon Kinetics, y 18 acciones en la cuenta de su c贸nyuge.
Tras la transacci贸n, el reporte indica que Mr. Stahl posee 92,458 acciones directamente y m谩s de 768,000 acciones indirectamente mediante entidades relacionadas, reafirmando su condici贸n de insider significativo. No se involucraron valores derivados ni se reportaron ventas.
Aunque el monto en d贸lares es modesto en relaci贸n con su participaci贸n actual, la continua compra en el mercado abierto 鈥� en lugar de ejercer opciones 鈥� ofrece una se帽al ligeramente positiva de confianza por parte de la direcci贸n, sin alterar materialmente la estructura de propiedad.
RENN Fund, Inc. (RCG) 鈥� Form 4 雮措秬鞛� 瓯半灅 雮挫棴
2025雲� 7鞗� 3鞚�, 韼�霌滌潣 靷灔, 瓿惦彊 韽姼韽措Μ鞓� 毵る媹鞝�, 鞚挫偓 氚� 10% 鞚挫儊 歆�攵� 氤挫湢鞛愳澑 毹鸽爤鞚� 鞀ろ儓(Murray Stahl)鞚� 1,144欤�鞚� 氤错喌欤茧ゼ 欤茧嫻 $2.66鞚� 霃欖澕 臧�瓴╈溂搿� 齑� 鞎� 3,000雼煬 攴滊搿� 瓿店皽 鞁滌灔鞐愳劀 毵れ垬頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟. 鞚� 瓯半灅電� 7臧� 瓿勳鞐� 攵勳偘霅橃柎 鞚措（鞏挫鞙茧┌, 歆侅爲 毵れ垬頃� 356欤检檧 FRMO Corp., Fromex Equity Corp., Horizon Common Inc. 氚� 鞐煬 Horizon Kinetics 瓿勳棿靷�, 攴鸽Μ瓿� 氚办毎鞛� 瓿勳鞚� 18欤茧ゼ 韽暔頃� 6臧� 臧�臁� 霕愲姅 瓿勳棿靷� 瓿勳鞐愳劀 788欤缄皜 毵れ垬霅橃棃鞀惦媹雼�.
瓯半灅 頉�, 鞁犼碃靹滌棎電� 鞀ろ儓 鞌皜 歆侅爲 氤挫湢頃� 92,458欤�鞕� 甏�霠� 氩曥澑鞚� 韱淀暣 臧勳爲 氤挫湢頃� 76毵� 8觳� 欤� 鞚挫儊臧� 氇呾嫓霅橃柎 鞛堨柎 攴胳潣 欤检殧 雮措秬鞛� 歆�鞙勲ゼ 鞛檿鞚疙枅鞀惦媹雼�. 韺岇儩靸來拡鞚� 韽暔霅橃 鞎婌晿鞙茧┌, 毵る弰 雮挫棴鞚� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
旮办〈 歆�攵勳棎 牍勴暣 旮堨暋鞚� 韥 鞎婌毵�, 鞓奠厴 頄夓偓 雽�鞁� 歆�靻嶌爜鞚� 瓿店皽 鞁滌灔 毵れ垬電� 瓴届榿歆勳潣 鞁犽毳� 雼れ唽 旮嶌爼鞝侅溂搿� 氤挫棳欤茧姅 鞁犿樃搿�, 靻岇湢 甑“鞐� 韥� 氤�頇旊ゼ 欤检 鞎婈碃 鞛堨姷雼堧嫟.
RENN Fund, Inc. (RCG) 鈥� Activit茅 des initi茅s Formulaire 4
Le 03/07/2025, Murray Stahl 鈥� Pr茅sident du fonds, co-gestionnaire de portefeuille, administrateur et d茅tenteur de plus de 10 % 鈥� a d茅clar茅 une s茅rie d鈥檃chats sur le march茅 ouvert totalisant 1 144 actions ordinaires 脿 un prix unitaire de 2,66 $ par action (environ 3 000 $ au total). Les transactions ont 茅t茅 r茅parties sur sept comptes : 356 actions achet茅es directement et 788 actions via six comptes affili茅s ou familiaux, incluant FRMO Corp., Fromex Equity Corp., Horizon Common Inc., plusieurs entit茅s Horizon Kinetics, ainsi que 18 actions dans le compte de son conjoint.
Apr猫s la transaction, le d茅p么t indique que M. Stahl d茅tient 92 458 actions en direct et plus de 768 000 actions indirectement via des entit茅s li茅es, confirmant son statut d鈥檌niti茅 important. Aucun titre d茅riv茅 n鈥檃 茅t茅 impliqu茅 et aucune vente n鈥檃 茅t茅 rapport茅e.
Bien que le montant en dollars soit modeste par rapport 脿 sa participation existante, les achats continus sur le march茅 ouvert 鈥� plut么t que l鈥檈xercice d鈥檕ptions 鈥� constituent un signal l茅g猫rement positif de confiance de la direction, sans modifier substantiellement la structure de propri茅t茅.
RENN Fund, Inc. (RCG) 鈥� Form 4 Insider-Aktivit盲ten
Am 03.07.2025 meldete Murray Stahl 鈥� Pr盲sident des Fonds, Co-Portfolio-Manager, Direktor und Eigent眉mer von 眉ber 10 % 鈥� eine Serie von K盲ufen am offenen Markt 眉ber insgesamt 1.144 Stammaktien zu einem einheitlichen Preis von 2,66 $ pro Aktie (ca. 3.000 $ insgesamt). Die K盲ufe verteilten sich auf sieben Konten: 356 Aktien wurden direkt erworben, 788 Aktien 眉ber sechs verbundene oder Familienkonten, darunter FRMO Corp., Fromex Equity Corp., Horizon Common Inc. sowie mehrere Horizon Kinetics-Einheiten, plus 18 Aktien im Konto seiner Ehefrau.
Nach der Transaktion weist die Meldung 92.458 direkt gehaltene Aktien von Herrn Stahl sowie mehr als 768.000 indirekt 眉ber verbundene Einheiten gehaltene Aktien aus, was seinen Status als bedeutender Insider best盲tigt. Es wurden keine Derivate verwendet und keine Verk盲ufe gemeldet.
Obwohl der Geldbetrag im Verh盲ltnis zu seinem bestehenden Anteil gering ist, signalisiert der fortgesetzte Kauf am offenen Markt 鈥� statt Aus眉bung von Optionen 鈥� ein leicht positives Vertrauenszeichen des Managements, ohne die Eigent眉merstruktur wesentlich zu ver盲ndern.
- Insider buy: President and >10% owner Murray Stahl purchased 1,144 shares on the open market at $2.66.
- No insider sales: The filing reports only acquisitions, reinforcing long-term alignment with shareholders.
- Immaterial size: The ~$3 k purchase is negligible versus Stahl鈥檚 existing stake and fund capitalization, limiting signal strength.
- Lacks operational insight: The Form 4 provides no new information on RENN Fund鈥檚 performance or strategy.
Insights
TL;DR: Small open-market insider purchase; modest positive sentiment but negligible financial impact.
Insider buys typically align interests with shareholders and can precede favorable performance. Here, Murray Stahl added 1,144 shares at $2.66, yet the cash outlay (~$3 k) is <1% of his existing direct stake and immaterial to RENN Fund鈥檚 float. No derivatives or sales dilute the signal. Given the micro-size, I view the filing as incrementally positive for sentiment but not financially impactful to valuation or liquidity.
TL;DR: Confidence indicator, but position size too small to move the needle.
Repeat buying by a >10% owner usually commands attention; however, investors should weight dollar value and context. Stahl鈥檚 cumulative indirect holdings exceed 750 k shares, so adding 1,144 shares hardly shifts his exposure. Absent additional catalysts鈥攅arnings, NAV shifts, distribution policy鈥攖his Form 4 is neutral to portfolio decisions. I classify the event as not impactful, though it supports a constructive view on management alignment.
RENN Fund, Inc. (RCG) 鈥� Attivit脿 insider Form 4
Il 03/07/2025, Murray Stahl 鈥� Presidente del fondo, Co-Gestore del portafoglio, Direttore e azionista con oltre il 10% 鈥� ha comunicato una serie di acquisti sul mercato aperto per un totale di 1.144 azioni ordinarie a un prezzo uniforme di 2,66 $ per azione (circa 3.000 $ complessivi). Gli acquisti sono stati suddivisi su sette conti: 356 azioni acquistate direttamente e 788 azioni tramite sei conti affiliati o familiari, inclusi FRMO Corp., Fromex Equity Corp., Horizon Common Inc., diverse entit脿 Horizon Kinetics e 18 azioni nel conto della moglie.
Dopo la transazione, la dichiarazione riporta 92.458 azioni detenute direttamente da Mr. Stahl e oltre 768.000 azioni indirettamente tramite entit脿 correlate, confermando il suo ruolo di insider significativo. Non sono stati coinvolti strumenti derivati e non sono state segnalate vendite.
Nonostante l鈥檌mporto in dollari sia modesto rispetto alla sua partecipazione attuale, il continuo acquisto sul mercato aperto 鈥� invece di esercizi di opzioni 鈥� rappresenta un segnale lievemente positivo di fiducia da parte della direzione, senza modificare sostanzialmente la struttura proprietaria.
RENN Fund, Inc. (RCG) 鈥� Actividad de insider en el Formulario 4
El 03/07/2025, Murray Stahl 鈥� Presidente del fondo, Co-Gestor de cartera, Director y propietario de m谩s del 10% 鈥� revel贸 una serie de compras en el mercado abierto por un total de 1,144 acciones comunes a un precio uniforme de $2.66 por acci贸n (aproximadamente $3,000 en total). Las operaciones se distribuyeron en siete cuentas: 356 acciones compradas directamente y 788 a trav茅s de seis cuentas afiliadas o familiares, incluyendo FRMO Corp., Fromex Equity Corp., Horizon Common Inc., varias entidades de Horizon Kinetics, y 18 acciones en la cuenta de su c贸nyuge.
Tras la transacci贸n, el reporte indica que Mr. Stahl posee 92,458 acciones directamente y m谩s de 768,000 acciones indirectamente mediante entidades relacionadas, reafirmando su condici贸n de insider significativo. No se involucraron valores derivados ni se reportaron ventas.
Aunque el monto en d贸lares es modesto en relaci贸n con su participaci贸n actual, la continua compra en el mercado abierto 鈥� en lugar de ejercer opciones 鈥� ofrece una se帽al ligeramente positiva de confianza por parte de la direcci贸n, sin alterar materialmente la estructura de propiedad.
RENN Fund, Inc. (RCG) 鈥� Form 4 雮措秬鞛� 瓯半灅 雮挫棴
2025雲� 7鞗� 3鞚�, 韼�霌滌潣 靷灔, 瓿惦彊 韽姼韽措Μ鞓� 毵る媹鞝�, 鞚挫偓 氚� 10% 鞚挫儊 歆�攵� 氤挫湢鞛愳澑 毹鸽爤鞚� 鞀ろ儓(Murray Stahl)鞚� 1,144欤�鞚� 氤错喌欤茧ゼ 欤茧嫻 $2.66鞚� 霃欖澕 臧�瓴╈溂搿� 齑� 鞎� 3,000雼煬 攴滊搿� 瓿店皽 鞁滌灔鞐愳劀 毵れ垬頄堧嫟瓿� 瓿奠嫓頄堨姷雼堧嫟. 鞚� 瓯半灅電� 7臧� 瓿勳鞐� 攵勳偘霅橃柎 鞚措（鞏挫鞙茧┌, 歆侅爲 毵れ垬頃� 356欤检檧 FRMO Corp., Fromex Equity Corp., Horizon Common Inc. 氚� 鞐煬 Horizon Kinetics 瓿勳棿靷�, 攴鸽Μ瓿� 氚办毎鞛� 瓿勳鞚� 18欤茧ゼ 韽暔頃� 6臧� 臧�臁� 霕愲姅 瓿勳棿靷� 瓿勳鞐愳劀 788欤缄皜 毵れ垬霅橃棃鞀惦媹雼�.
瓯半灅 頉�, 鞁犼碃靹滌棎電� 鞀ろ儓 鞌皜 歆侅爲 氤挫湢頃� 92,458欤�鞕� 甏�霠� 氩曥澑鞚� 韱淀暣 臧勳爲 氤挫湢頃� 76毵� 8觳� 欤� 鞚挫儊臧� 氇呾嫓霅橃柎 鞛堨柎 攴胳潣 欤检殧 雮措秬鞛� 歆�鞙勲ゼ 鞛檿鞚疙枅鞀惦媹雼�. 韺岇儩靸來拡鞚� 韽暔霅橃 鞎婌晿鞙茧┌, 毵る弰 雮挫棴鞚� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
旮办〈 歆�攵勳棎 牍勴暣 旮堨暋鞚� 韥 鞎婌毵�, 鞓奠厴 頄夓偓 雽�鞁� 歆�靻嶌爜鞚� 瓿店皽 鞁滌灔 毵れ垬電� 瓴届榿歆勳潣 鞁犽毳� 雼れ唽 旮嶌爼鞝侅溂搿� 氤挫棳欤茧姅 鞁犿樃搿�, 靻岇湢 甑“鞐� 韥� 氤�頇旊ゼ 欤检 鞎婈碃 鞛堨姷雼堧嫟.
RENN Fund, Inc. (RCG) 鈥� Activit茅 des initi茅s Formulaire 4
Le 03/07/2025, Murray Stahl 鈥� Pr茅sident du fonds, co-gestionnaire de portefeuille, administrateur et d茅tenteur de plus de 10 % 鈥� a d茅clar茅 une s茅rie d鈥檃chats sur le march茅 ouvert totalisant 1 144 actions ordinaires 脿 un prix unitaire de 2,66 $ par action (environ 3 000 $ au total). Les transactions ont 茅t茅 r茅parties sur sept comptes : 356 actions achet茅es directement et 788 actions via six comptes affili茅s ou familiaux, incluant FRMO Corp., Fromex Equity Corp., Horizon Common Inc., plusieurs entit茅s Horizon Kinetics, ainsi que 18 actions dans le compte de son conjoint.
Apr猫s la transaction, le d茅p么t indique que M. Stahl d茅tient 92 458 actions en direct et plus de 768 000 actions indirectement via des entit茅s li茅es, confirmant son statut d鈥檌niti茅 important. Aucun titre d茅riv茅 n鈥檃 茅t茅 impliqu茅 et aucune vente n鈥檃 茅t茅 rapport茅e.
Bien que le montant en dollars soit modeste par rapport 脿 sa participation existante, les achats continus sur le march茅 ouvert 鈥� plut么t que l鈥檈xercice d鈥檕ptions 鈥� constituent un signal l茅g猫rement positif de confiance de la direction, sans modifier substantiellement la structure de propri茅t茅.
RENN Fund, Inc. (RCG) 鈥� Form 4 Insider-Aktivit盲ten
Am 03.07.2025 meldete Murray Stahl 鈥� Pr盲sident des Fonds, Co-Portfolio-Manager, Direktor und Eigent眉mer von 眉ber 10 % 鈥� eine Serie von K盲ufen am offenen Markt 眉ber insgesamt 1.144 Stammaktien zu einem einheitlichen Preis von 2,66 $ pro Aktie (ca. 3.000 $ insgesamt). Die K盲ufe verteilten sich auf sieben Konten: 356 Aktien wurden direkt erworben, 788 Aktien 眉ber sechs verbundene oder Familienkonten, darunter FRMO Corp., Fromex Equity Corp., Horizon Common Inc. sowie mehrere Horizon Kinetics-Einheiten, plus 18 Aktien im Konto seiner Ehefrau.
Nach der Transaktion weist die Meldung 92.458 direkt gehaltene Aktien von Herrn Stahl sowie mehr als 768.000 indirekt 眉ber verbundene Einheiten gehaltene Aktien aus, was seinen Status als bedeutender Insider best盲tigt. Es wurden keine Derivate verwendet und keine Verk盲ufe gemeldet.
Obwohl der Geldbetrag im Verh盲ltnis zu seinem bestehenden Anteil gering ist, signalisiert der fortgesetzte Kauf am offenen Markt 鈥� statt Aus眉bung von Optionen 鈥� ein leicht positives Vertrauenszeichen des Managements, ohne die Eigent眉merstruktur wesentlich zu ver盲ndern.
FAQ
How many RCG shares did Murray Stahl buy on 07/03/2025?
What is Murray Stahl鈥檚 total direct ownership in RCG after the transaction?
Were any RCG shares sold in this Form 4 filing?
Which affiliated entities participated in the share purchases?
Does this insider purchase significantly change RENN Fund鈥檚 ownership structure?
