STOCK TITAN

Mink Brook (DLHC) boosts DLH Holdings stake with share purchases

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Mink Brook Asset Management LLC, a 10% owner of DLH Holdings Corp., reported open-market purchases of a total of 1,704 shares of common stock at a weighted average price of $5.50 per share through Mink Brook Partners LP.

After these trades, Mink Brook Partners LP held 2,061,855 DLH shares, and Mink Brook Opportunity Fund LP held 694,322 shares, all reported as indirect holdings of Mink Brook Asset Management LLC subject to its disclosed beneficial ownership disclaimers.

Positive

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Negative

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Insider Mink Brook Asset Management LLC
Role null
Bought 1,704 shs ($9K)
Type Security Shares Price Value
Purchase Common Stock, par value $0.001 per share ("Common Stock") 1,584 $5.50 $9K
Purchase Common Stock, par value $0.001 per share ("Common Stock") 120 $5.50 $660.00
holding Common Stock, par value $0.001 per share ("Common Stock") -- -- --
Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,061,855 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 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. 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. 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.
Total shares purchased 1,704 shares Open-market buys reported in Form 4
Purchase price $5.50 per share Weighted average price for 1,704 shares
Partners LP holdings 2,061,855 shares Total DLH shares held by Mink Brook Partners LP after trades
Opportunity Fund holdings 694,322 shares DLH shares held by Mink Brook Opportunity Fund LP as of reported date
Net buy direction 1,704 net shares bought transactionSummary net-buy for this Form 4
open-market purchase financial
"transaction_action: "open-market purchase" for DLH common stock"
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
"Mink Brook Asset Management LLC 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"
Section 16(a) regulatory
"for purposes of Section 16(a) of the Securities Exchange Act of 1934"
SEC Form 4
FORM 4UNITED 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)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, par value $0.001 per share ("Common Stock")05/20/2026P120A$5.5(1)2,060,271IBy Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")05/21/2026P1,584A$5.5(1)2,061,855IBy Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")694,322IBy Mink Brook Opportunity Fund LP(1)(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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 Mueller05/21/2026
** Signature of Reporting PersonDate
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 did Mink Brook Asset Management report in this DLHC Form 4 filing?

Mink Brook Asset Management LLC reported buying DLH Holdings common stock through Mink Brook Partners LP. The filing shows recent open-market purchases and the resulting indirect holdings across its affiliated funds, subject to the firm’s stated beneficial ownership disclaimers.

How many DLH Holdings (DLHC) shares did Mink Brook buy in this filing?

The filing shows purchases totaling 1,704 shares of DLH Holdings common stock. These open-market transactions were executed at a weighted average price of $5.50 per share through Mink Brook Partners LP, increasing that fund’s reported indirect position.

At what price were the DLH Holdings (DLHC) shares purchased?

The shares were purchased at a weighted average price of $5.50 per share. The filing notes that the 1,704 shares were acquired in multiple transactions, and full trade-by-trade pricing details are available upon request from the reporting person.

What are Mink Brook’s indirect DLH Holdings (DLHC) positions after the transactions?

After the reported trades, Mink Brook Partners LP held 2,061,855 DLH shares, and Mink Brook Opportunity Fund LP held 694,322 shares. Both positions are reported as indirect holdings of Mink Brook Asset Management LLC, subject to its beneficial ownership disclaimers.

How does Mink Brook describe its beneficial ownership of DLH Holdings (DLHC) shares?

The filing states Mink Brook Asset Management LLC may be deemed to beneficially own shares held by its funds but disclaims beneficial ownership except to the extent of its pecuniary interest. It also clarifies this disclaimer applies to related entities and the managing member.