Murray Stahl boosts RENN Fund (RCG) stake with open-market buys

Rhea-AI Filing Summary

RENN Fund, Inc. insider activity: Murray Stahl, President/Co-Portfolio Manager and a 10% owner of RENN Fund, reported several open-market purchases of the company’s common stock on February 13, 2026 at $2.83 per share.

He bought 360 shares directly, bringing his direct holdings to 148,094 shares. Additional purchases at the same price were made indirectly through his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Footnotes state he disclaims beneficial ownership of these 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

OMB APPROVAL

OMB Number:			3235-0287
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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)
02/13/2026

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	02/13/2026		P		360	A	$2.83	148,094	D
Common Stock	02/13/2026		P		18	A	$2.83	5,354(1)	I	Spouse
Common Stock	02/13/2026		P		180	A	$2.83	131,808(1)(2)	I	Fromex Equity Corp.
Common Stock	02/13/2026		P		180	A	$2.83	317,060(1)(2)	I	FRMO Corp.
Common Stock	02/13/2026		P		296	A	$2.83	357,498(1)(2)	I	Horizon Common Inc.
Common Stock	02/13/2026		P		18	A	$2.83	11,430(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	02/13/2026		P		82	A	$2.83	65,728(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 148,094 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	02/17/2026
	** 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.
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FAQ

What insider transaction did RENN Fund (RCG) report on this Form 4?

The Form 4 reports open-market purchases of RENN Fund common stock on February 13, 2026 at $2.83 per share. Murray Stahl bought shares directly and through several related entities and his spouse, increasing both direct and indirect holdings.

Who is Murray Stahl in relation to RENN Fund (RCG)?

Murray Stahl is identified as President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. This dual role means he is both a senior officer and a significant shareholder, which requires public reporting of his trading activity under Section 16 rules.

How many RENN Fund (RCG) shares did Murray Stahl buy directly?

He purchased 360 shares of RENN Fund common stock directly at $2.83 per share, raising his direct holdings to 148,094 shares. This direct position is separate from additional indirect holdings through his spouse and various investment-related entities.

What indirect RENN Fund (RCG) purchases were disclosed on this Form 4?

Indirect open-market purchases at $2.83 per share were reported for accounts held by Mr. Stahl’s spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each with its own share balance after the transactions.

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

One footnote clarifies that 148,094 shares are held directly by Mr. Stahl. Another states that for each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest, limiting how those indirect holdings should be viewed.

At what price were the RENN Fund (RCG) insider purchases executed?

All reported purchases of RENN Fund common stock on February 13, 2026 were executed at $2.83 per share. This uniform transaction price applies to Mr. Stahl’s direct purchase and the additional indirect purchases through his spouse and affiliated entities.