Mink Brook Asset Management (NASDAQ: DLHC) funds add 15,062 DLH shares in open-market buys

Rhea-AI Filing Summary

Mink Brook Asset Management LLC, as investment manager for affiliated funds, reported open-market purchases of DLH Holdings Corp. common stock. Mink Brook Partners LP bought 5,640 shares on July 2 at a weighted average price of $5.2477 per share and 9,422 shares on July 6 at a weighted average price of $5.1881 per share, for total reported purchases of 15,062 shares. Following these trades, Mink Brook Partners LP held 2,136,798 shares indirectly, while a separate holding line shows Mink Brook Opportunity Fund LP holding 694,322 shares. Mink Brook Asset Management LLC, its general partner, and William Mueller disclaim beneficial ownership of these shares except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 15,062 shares ($78,479)

Net Buy 3 txns

Insider Mink Brook Asset Management LLC

Role null

Bought 15,062 shs ($78K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share ("Common Stock")	9,422	$5.1881	$49K
Purchase	Common Stock, par value $0.001 per share ("Common Stock")	5,640	$5.2477	$30K
holding	Common Stock, par value $0.001 per share ("Common Stock")	--	--	--

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,136,798 shares (Indirect, By Mink Brook Partners LP)

Footnotes (1)

1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.21 to $5.25 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.12 to $5.24 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price. Represents securities owned directly by Mink Brook Opportunity Fund LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

Key Figures

Shares bought July 6: 9,422 shares Price July 6 trade: $5.1881 per share Shares bought July 2: 5,640 shares +4 more

7 metrics

Shares bought July 6 9,422 shares Open-market purchase at $5.1881 weighted average price

Price July 6 trade $5.1881 per share Weighted average; individual trades $5.21–$5.25

Shares bought July 2 5,640 shares Open-market purchase at $5.2477 weighted average price

Price July 2 trade $5.2477 per share Weighted average; individual trades $5.12–$5.24

Post-trade holdings (Mink Brook Partners LP) 2,136,798 shares Indirect ownership after reported purchases

Holdings (Mink Brook Opportunity Fund LP) 694,322 shares Indirect ownership line dated July 2

Total reported net purchases 15,062 shares Net-buy across reported transactions

Key Terms

open-market purchase, weighted average price, beneficially own, pecuniary interest, +1 more

5 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially own financial

"may be deemed to beneficially own the securities owned directly by the Fund."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein"

ten percent owner financial

""is_ten_percent_owner": 1"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/06/2026 - 06:07 PM Accepted by SEC EDGAR 07/06/2026 - 06:07 PM 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^*

Mink Brook Asset Management LLC

(Last) (First) (Middle)

201 SUMMA STREET

(Street)

WEST PALM BEACH FLORIDA 33405

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DLH Holdings Corp. [ DLHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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, par value $0.001 per share ("Common Stock")	07/02/2026		P		5,640	A	$5.2477(1)	2,127,376	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	07/06/2026		P		9,422	A	$5.1881(4)	2,136,798	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")								694,322	I	By Mink Brook Opportunity Fund LP(4)(5)

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. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.21 to $5.25 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

2. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

3. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

4. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.12 to $5.24 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

5. Represents securities owned directly by Mink Brook Opportunity Fund LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

Remarks:

	/s/ William Mueller	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did Mink Brook report for DLH Holdings Corp. (DLHC)?

Mink Brook, through affiliated funds, reported open-market purchases of DLH Holdings common stock totaling 15,062 shares. These trades occurred on July 2 and July 6 at weighted average prices just above $5 per share.

At what prices did Mink Brook’s funds buy DLHC shares in this Form 4?

Mink Brook Partners LP bought 5,640 shares at a weighted average of $5.2477 and 9,422 shares at $5.1881. Footnotes note actual trade prices ranged from $5.12–$5.25 across multiple executions.

How many DLH Holdings (DLHC) shares does Mink Brook Partners LP hold after these trades?

After the reported open-market purchases, Mink Brook Partners LP held 2,136,798 DLHC shares indirectly. This figure comes from the post-transaction ownership column for the fund’s position in DLH Holdings common stock.

What is Mink Brook Opportunity Fund LP’s DLHC position in this filing?

A separate holding line shows Mink Brook Opportunity Fund LP with 694,322 shares of DLH Holdings common stock. This entry is presented as an indirect ownership position managed by Mink Brook Asset Management LLC.

Does Mink Brook Asset Management LLC claim full beneficial ownership of these DLHC shares?

No. The filing states Mink Brook Asset Management LLC and related entities disclaim beneficial ownership of the reported DLHC shares, except to the extent of their pecuniary interest in the funds that directly own the stock.

What do the weighted average price footnotes mean for the DLHC trades?

The filing explains reported prices are weighted averages for multiple trades. Actual purchases on each date occurred in a price range, and Mink Brook undertakes to provide exact share counts at each price level upon request.