RENN Fund president buys RCG shares at $2.88

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl reported multiple open-market purchases of the company’s common stock at $2.88 per share on February 19, 2026.

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl reported multiple open-market purchases of the company’s common stock at $2.88 per share on February 19, 2026. The filing shows a direct purchase of 360 shares and additional indirect purchases through his spouse and several related entities.

After these transactions, Stahl directly held 149,174 shares, while indirect holdings included shares in accounts such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, Horizon Kinetics Asset Management LLC and a spouse account. The disclosure states that Stahl disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.88	$1K
Purchase	Common Stock	18	$2.88	$51.84
Purchase	Common Stock	180	$2.88	$518.40
Purchase	Common Stock	180	$2.88	$518.40
Purchase	Common Stock	296	$2.88	$852.48
Purchase	Common Stock	18	$2.88	$51.84
Purchase	Common Stock	82	$2.88	$236.16

Holdings After Transaction: Common Stock — 149,174 shares (Direct); Common Stock — 5,408 shares (Indirect, Spouse); Common Stock — 132,348 shares (Indirect, Fromex Equity Corp.); Common Stock — 317,600 shares (Indirect, FRMO Corp.); Common Stock — 358,386 shares (Indirect, Horizon Common Inc.); Common Stock — 11,484 shares (Indirect, Horizon Kinetics Hard Assets LLC); Common Stock — 65,974 shares (Indirect, Horizon Kinetics Asset Management LLC)

Footnotes (2)

1. F1. This figure does not include 149,174 shares held directly by Mr. Stahl.
2. F2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did RCG’s Murray Stahl report in this Form 4?

Murray Stahl reported open-market purchases of RENN Fund common stock on February 19, 2026. The filing lists one direct purchase of 360 shares and several indirect purchases through his spouse and entities such as Fromex Equity Corp., FRMO Corp. and Horizon-affiliated entities.

At what price were the RCG shares purchased in Murray Stahl’s latest filing?

All reported purchases of RENN Fund common stock were executed at $2.88 per share. This price applied to the direct purchase by Murray Stahl and to each of the indirect purchases through his spouse and the various related corporate and LLC accounts disclosed.

How many RCG shares does Murray Stahl hold directly after these transactions?

Following the reported transactions, Murray Stahl directly held 149,174 shares of RENN Fund common stock. This direct holding figure is separate from the indirect positions in spouse and affiliated entity accounts, for which he disclaims beneficial ownership except for any pecuniary interest.

Which indirect accounts bought RENN Fund (RCG) shares in this Form 4?

Indirect purchases were reported in accounts identified as a spouse account, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC and Horizon Kinetics Asset Management LLC. These entities each acquired small amounts of RENN Fund common stock at $2.88 per share.

Does Murray Stahl claim full beneficial ownership of the indirect RCG holdings?

No. The disclosure states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any. This means economic exposure may exist, but he does not assert full beneficial ownership of those indirect positions.

What is Murray Stahl’s role at RENN Fund, Inc. mentioned in the Form 4?

Murray Stahl is identified as President and Co-Portfolio Manager of RENN Fund, Inc., and also as a ten percent owner. These titles help explain why his direct and indirect transactions in the company’s common stock are subject to Form 4 reporting requirements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/20/2026 - 11:50 AM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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)
02/19/2026

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	02/19/2026		P		360	A	$2.88	149,174	D
Common Stock	02/19/2026		P		18	A	$2.88	5,408(1)	I	Spouse
Common Stock	02/19/2026		P		180	A	$2.88	132,348(1)(2)	I	Fromex Equity Corp.
Common Stock	02/19/2026		P		180	A	$2.88	317,600(1)(2)	I	FRMO Corp.
Common Stock	02/19/2026		P		296	A	$2.88	358,386(1)(2)	I	Horizon Common Inc.
Common Stock	02/19/2026		P		18	A	$2.88	11,484(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	02/19/2026		P		82	A	$2.88	65,974(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 149,174 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	02/20/2026
	** 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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