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

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co‑Portfolio Manager Murray Stahl, a more than ten percent owner, reported open‑market purchases of a total of 1,134 shares of common stock at $2.77 per share on February 17, 2026.

The transactions included 360 shares bought in his direct account and additional shares purchased in accounts for his spouse and several entities, such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics entities. Following the direct purchase, Stahl directly held 148,454 shares, while he disclaimed beneficial ownership of the indirect holdings 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)
02/17/2026

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	02/17/2026		P		360	A	$2.77	148,454	D
Common Stock	02/17/2026		P		18	A	$2.77	5,372(1)	I	Spouse
Common Stock	02/17/2026		P		180	A	$2.77	131,988(1)(2)	I	Fromex Equity Corp.
Common Stock	02/17/2026		P		180	A	$2.77	317,240(1)(2)	I	FRMO Corp.
Common Stock	02/17/2026		P		296	A	$2.77	357,794(1)(2)	I	Horizon Common Inc.
Common Stock	02/17/2026		P		18	A	$2.77	11,448(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	02/17/2026		P		82	A	$2.77	65,810(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 148,454 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	02/18/2026
	** 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 activity did RENN Fund (RCG) report for Murray Stahl?

Murray Stahl reported buying a total of 1,134 RENN Fund (RCG) common shares in open‑market transactions. These occurred on February 17, 2026 at $2.77 per share, spanning his direct account, his spouse’s account, and several affiliated entities.

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

Murray Stahl bought 360 RENN Fund (RCG) common shares directly in the open market at $2.77 per share. After this transaction, his directly held position increased to 148,454 shares, separate from additional indirect holdings through his spouse and affiliated entities.

Which entities associated with Murray Stahl bought RENN Fund (RCG) shares?

Indirect purchases were reported in accounts for Stahl’s spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics entities. Stahl filed these as indirect holdings and disclaimed beneficial ownership except to the extent of any pecuniary interest.

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

All reported insider purchases of RENN Fund (RCG) common stock were executed at $2.77 per share. This single price applied to the 1,134 shares bought across Murray Stahl’s direct account, his spouse’s account, and several related corporate and LLC accounts.

What is Murray Stahl’s role at RENN Fund (RCG) and ownership status?

Murray Stahl serves as President and Co‑Portfolio Manager of RENN Fund (RCG) and is identified as a more than ten percent owner. After the latest open‑market purchase, he directly held 148,454 shares, in addition to indirect interests reported through various related accounts.

How many total RENN Fund (RCG) shares were involved in the indirect purchases?

Indirect accounts associated with Murray Stahl collectively bought the majority of the 1,134 shares reported, with only 360 shares acquired directly. For these indirect holdings, he disclaimed beneficial ownership except to the extent of any pecuniary interest noted in the filing footnotes.