Mink Brook lifts DLH Holdings (DLHC) stake with 8,048-share buy

Rhea-AI Filing Summary

Mink Brook Partners LP, an entity managed by Mink Brook Asset Management LLC, purchased 8,048 shares of DLH Holdings Corp. common stock in an open-market transaction at a weighted average price of $5.50 per share. After the trade, Mink Brook Partners LP held 1,983,195 shares and Mink Brook Opportunity Fund LP held 694,322 shares, with Mink Brook Asset Management LLC and its affiliates disclaiming beneficial ownership beyond their pecuniary interests.

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)
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, par value $0.001 per share ("Common Stock")	02/19/2026		P		8,048	A	$5.5(1)	1,983,195	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(3)(4)

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.

4. 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	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

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

Mink Brook Partners LP, managed by Mink Brook Asset Management LLC, reported buying 8,048 shares of DLH Holdings Corp. common stock in an open-market transaction. The weighted average purchase price was $5.50 per share, reflecting an increase in its indirect position through an affiliated investment fund.

At what price were the DLH Holdings (DLHC) shares purchased by Mink Brook Partners LP?

The 8,048 DLH Holdings shares were purchased at a weighted average price of $5.50 per share. The filing notes the shares were acquired in multiple transactions at that inclusive price, and Mink Brook undertakes to provide detailed trade breakdowns upon request to regulators, the issuer, or shareholders.

How many DLH Holdings (DLHC) shares does Mink Brook Partners LP hold after this Form 4 transaction?

Following the reported open-market purchase, Mink Brook Partners LP held 1,983,195 shares of DLH Holdings common stock. This position is reported as being owned directly by Mink Brook Partners LP, while Mink Brook Asset Management LLC may be deemed a beneficial owner as investment manager, subject to its ownership disclaimers.

What DLH Holdings (DLHC) position is reported for Mink Brook Opportunity Fund LP?

The Form 4 shows Mink Brook Opportunity Fund LP holding 694,322 DLH Holdings common shares after the reported date. These securities are owned directly by the Opportunity Fund, with Mink Brook Asset Management LLC potentially deemed a beneficial owner as investment manager, while expressly disclaiming beneficial ownership beyond its pecuniary interest.

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

Mink Brook Asset Management LLC and its related general partner disclaim beneficial ownership of the DLH Holdings shares except to the extent of their pecuniary interest. The filing states that neither those entities nor William Mueller should be deemed beneficial owners for Section 16(a) or other legal purposes.

How is the DLH Holdings (DLHC) ownership structured among Mink Brook entities?

DLH Holdings shares are held directly by two funds: Mink Brook Partners LP and Mink Brook Opportunity Fund LP. Mink Brook Asset Management LLC acts as investment manager for both funds and may be deemed a beneficial owner, but it disclaims beneficial ownership except for its economic interest in those securities.