Mink Brook funds boost DLH Holdings (DLHC) stake with 24,699-share purchase

Rhea-AI Filing Summary

Mink Brook Partners LP, an entity managed by Mink Brook Asset Management LLC, reported open-market purchases of DLH Holdings Corp. common stock. The fund bought 24,699 shares of Common Stock in total at a weighted-average price of $5.50 per share on February 17–18, 2026, increasing its indirect holdings to over 1.97 million shares in that fund. A related fund, Mink Brook Opportunity Fund LP, is reported as holding 694,322 shares indirectly. Mink Brook Asset Management LLC and its general partner disclaim beneficial ownership beyond their pecuniary interest, stating that the filing should not be taken as an admission of beneficial ownership for Section 16 purposes.

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)
02/17/2026

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, par value $0.001 per share ("Common Stock")	02/17/2026		P		2,642	A	$5.5(1)	1,953,090	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	02/18/2026		P		22,057	A	$5.5(1)	1,975,147	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)(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	02/18/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Mink Brook Partners LP report buying in DLH Holdings Corp. (DLHC)?

Mink Brook Partners LP reported buying 24,699 shares of DLH Holdings common stock. The purchases were open-market transactions at a weighted-average price of $5.50 per share, increasing the fund’s indirect position reported under Mink Brook Asset Management LLC’s Form 4 filing.

On what dates did the DLHC share purchases by Mink Brook Partners LP occur?

The DLHC share purchases occurred on February 17 and February 18, 2026. On these dates, Mink Brook Partners LP executed open-market transactions at a weighted-average price of $5.50 per share, as disclosed in the Form 4 insider trading report.

How many DLH Holdings (DLHC) shares did Mink Brook Partners LP hold after the reported trades?

After the reported trades, Mink Brook Partners LP held 1,975,147 DLH Holdings common shares. This figure reflects the total indirect ownership reported for that fund following the open-market purchases disclosed in the Form 4 filing by Mink Brook Asset Management LLC.

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

Mink Brook Opportunity Fund LP is reported as holding 694,322 DLH Holdings common shares. These securities are owned directly by the fund, with Mink Brook Asset Management LLC identified as its investment manager and therefore potentially deemed a beneficial owner of those shares.

How does Mink Brook Asset Management LLC describe its beneficial ownership of DLHC shares?

Mink Brook Asset Management LLC states it 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 notes the Form 4 should not be viewed as an admission of beneficial ownership.

What price details are disclosed for Mink Brook’s DLHC share purchases?

The filing discloses a weighted-average purchase price of $5.50 per DLH Holdings share. It explains that shares were bought in multiple transactions at that inclusive price and offers to provide full trade details upon request to the SEC staff, issuer, or security holders.