Insider Murray Stahl adds 1,134 RENN Fund (RCG) shares

Rhea-AI Filing Summary

RENN Fund, Inc. President and 10% owner Murray Stahl reported open-market purchases of a total of 1,134 shares of RENN Fund common stock at a price of $2.87 per share on February 23, 2026.

The transactions included 360 shares bought in an account he holds directly and additional purchases in several indirect accounts, including a spouse account and entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. After these trades, he directly held 149,894 shares, while the various indirect accounts each reported updated share balances, for which he disclaims beneficial ownership 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)

C/O HORIZON KINETICS LLC

470 PARK AVE S 8TH FL S

(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)
02/23/2026

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	02/23/2026		P		360	A	$2.87	149,894	D
Common Stock	02/23/2026		P		18	A	$2.87	5,444(1)	I	Spouse
Common Stock	02/23/2026		P		180	A	$2.87	132,708(1)(2)	I	Fromex Equity Corp.
Common Stock	02/23/2026		P		180	A	$2.87	317,960(1)(2)	I	FRMO Corp.
Common Stock	02/23/2026		P		296	A	$2.87	358,978(1)(2)	I	Horizon Common Inc.
Common Stock	02/23/2026		P		18	A	$2.87	11,520(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	02/23/2026		P		82	A	$2.87	66,138(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 149,894 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	02/24/2026
	** 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 transactions did Murray Stahl report for RENN Fund (RCG)?

Murray Stahl reported open-market purchases totaling 1,134 RENN Fund common shares on February 23, 2026 at $2.87 per share. The Form 4 shows one direct account and several indirect accounts, including his spouse and multiple affiliated entities, all classified as purchases.

How many RENN Fund (RCG) shares does Murray Stahl own directly after these trades?

After the reported purchases, Murray Stahl directly owns 149,894 RENN Fund common shares. This figure applies only to his direct holdings. Additional shares are held in various indirect accounts, where he disclaims beneficial ownership except for any pecuniary interest described in the filing footnotes.

Which indirect accounts were involved in the RENN Fund (RCG) insider purchases?

Indirect purchases were reported for accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Stahl disclaims beneficial ownership of these indirect holdings beyond any pecuniary interest.

What price did the insider pay for RENN Fund (RCG) shares on February 23, 2026?

All reported transactions occurred at an average price of $2.87 per RENN Fund common share on February 23, 2026. This price applied uniformly across the direct account and each indirect account listed in the Form 4 insider trading report.

How many RENN Fund (RCG) shares were bought in direct versus indirect accounts?

The Form 4 shows 360 shares purchased in an account held directly by Murray Stahl and 774 shares bought across multiple indirect accounts. Together, these open-market transactions total 1,134 RENN Fund common shares acquired on February 23, 2026.

What do the Form 4 footnotes say about Murray Stahl’s beneficial ownership of RENN Fund (RCG)?

The footnotes state that the figure cited does not include 149,894 shares held directly by Mr. Stahl and that, for each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest, if any, in those RENN Fund holdings.