DLH Holdings (DLHC) fund discloses January common stock purchases

Rhea-AI Filing Summary

Mink Brook Asset Management LLC, as a 10% owner of DLH Holdings Corp., reported indirect purchases of the company's common stock in early January 2026. Through Mink Brook Partners LP, the filings show open‑market buys of 3,569 shares on January 7, 2026 and 1,458 shares on January 8, 2026, both coded as purchases at a weighted average price of $5.50 per share. After these transactions, Mink Brook Partners LP is reported as indirectly holding 1,936,552 DLH common shares, while 694,322 shares are reported as indirectly held through Mink Brook Opportunity Fund LP. The filing explains that the funds own the shares directly, and Mink Brook Asset Management LLC and related entities disclaim beneficial ownership except to the extent of their 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^*

Mink Brook Asset Management LLC

(Last) (First) (Middle)

201 SUMMA STREET

(Street)

WEST PALM BEACH FL 33405

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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, par value $0.001 per share ("Common Stock")	01/07/2026		P		3,569	A	$5.5(1)	1,935,094	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	01/08/2026		P		1,458	A	$5.5(1)	1,936,552	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(1)(2)

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 a price of $5.50 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.

Remarks:

	/s/ William Mueller	01/08/2026
	** 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 DLH Holdings (DLHC) report in this Form 4?

The filing reports that entities associated with Mink Brook Asset Management LLC, a 10% owner of DLH Holdings Corp., purchased additional shares of DLH common stock in early January 2026 through one of its investment funds.

How many DLH Holdings (DLHC) shares were purchased and at what price?

Mink Brook Partners LP reported buying 3,569 DLH common shares on January 7, 2026 and 1,458 shares on January 8, 2026, at a weighted average price of $5.50 per share.

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

After the reported purchases, Mink Brook Partners LP is shown as indirectly holding 1,936,552 shares of DLH Holdings common stock.

What other DLH Holdings (DLHC) shares are reported as held by related funds?

The Form 4 also reports that 694,322 DLH common shares are indirectly held through Mink Brook Opportunity Fund LP, in addition to the holdings of Mink Brook Partners LP.

Who is the reporting person in this DLH Holdings (DLHC) Form 4 and what is their role?

The reporting person is Mink Brook Asset Management LLC, identified as a 10% owner of DLH Holdings Corp. It is described as the investment manager of Mink Brook Partners LP and is associated with Mink Brook Opportunity Fund LP through a common general partner.

Does Mink Brook Asset Management LLC claim full beneficial ownership of the DLH (DLHC) shares?

No. The filing states that Mink Brook Asset Management LLC and the general partner Mink Brook Capital GP LLC disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interest, and that the funds themselves own the shares directly.

How is the reported purchase price for DLH Holdings (DLHC) shares described?

The Form 4 explains that the $5.50 per share figure is a weighted average price for multiple transactions, and the reporting person undertakes to provide detailed trade‑level pricing upon request.