Murray Stahl (RCG) adds 1,134 RENN Fund shares in open-market buys

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl, a ten percent owner, reported open-market purchases of 1,134 shares of RENN Fund common stock at $2.84 per share on February 20, 2026, across direct and indirect accounts.

The transactions included 360 shares held directly by Mr. Stahl and additional shares purchased in accounts of his spouse and entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics entities. He disclaims beneficial ownership of the indirect accounts 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

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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)
02/20/2026

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	02/20/2026		P		360	A	$2.84	149,534	D
Common Stock	02/20/2026		P		18	A	$2.84	5,426(1)	I	Spouse
Common Stock	02/20/2026		P		180	A	$2.84	132,528(1)(2)	I	Fromex Equity Corp.
Common Stock	02/20/2026		P		180	A	$2.84	317,780(1)(2)	I	FRMO Corp.
Common Stock	02/20/2026		P		296	A	$2.84	358,682(1)(2)	I	Horizon Common Inc.
Common Stock	02/20/2026		P		18	A	$2.84	11,502(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	02/20/2026		P		82	A	$2.84	66,056(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 149,534 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	02/23/2026
	** 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).
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FAQ

What insider transactions did RENN Fund (RCG) report for Murray Stahl?

Murray Stahl reported buying 1,134 shares of RENN Fund common stock at $2.84 per share on February 20, 2026. Purchases occurred in his direct account and several related indirect accounts, including his spouse and various investment entities associated with him.

At what price were the RENN Fund (RCG) insider shares purchased?

All reported insider purchases were made at $2.84 per share. This single price applied to 1,134 common shares acquired on February 20, 2026, through a mix of direct holdings and indirect accounts tied to Murray Stahl and related entities.

How many RENN Fund (RCG) shares did Murray Stahl hold directly after the transactions?

After the reported trades, Murray Stahl directly held 149,534 RENN Fund common shares. A Form 4 footnote clarifies that this direct position is separate from indirect accounts, where he disclaims beneficial ownership except for any pecuniary interest he may have.

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

Indirect purchases were attributed to accounts for Mr. Stahl’s spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. He disclaims beneficial ownership of these indirect holdings except to the extent of any pecuniary interest.

Does Murray Stahl claim full beneficial ownership of all RENN Fund (RCG) shares in the filing?

No. A footnote states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any. Another footnote clarifies that 149,534 shares are held directly by him, separate from those indirect positions.