Mink Brook Asset Management buys DLH Holdings shares

Mink Brook Asset Management LLC, a ten percent owner of DLH Holdings Corp., reported indirect purchases of Common Stock through Mink Brook Partners LP.

Rhea-AI Filing Summary

Mink Brook Asset Management LLC, a ten percent owner of DLH Holdings Corp., reported indirect purchases of Common Stock through Mink Brook Partners LP. It bought 391 shares on July 24, 2026 at a weighted-average price of $5.0997 and 79 shares on July 23 at $5.0975, in multiple trades within stated price ranges. An additional holding line reports 694,322 shares held indirectly by Mink Brook Opportunity Fund LP, with beneficial ownership disclaimed except for pecuniary interest.

Insider Trade Summary

Net Buyer: 470 shares

Net Buy 3 txns

Insider Mink Brook Asset Management LLC

Role 10% Owner

Bought 470 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F4, F2, F3	391	$5.0997	$2K
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F1, F2, F3	79	$5.0975	$402.70
holding	Common Stock, par value $0.001 per share ("Common Stock") F3, F5	--	--	--

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,158,950 shares (Indirect, By Mink Brook Partners LP); Common Stock, par value $0.001 per share ("Common Stock") — 694,322 shares (Indirect, By Mink Brook Opportunity Fund LP)

Footnotes (5)

1. F1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.08 to $5.10 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. F2. 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. F3. 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. F4. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.09 to $5.10 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. F5. 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 purchased 2026-07-24: 391 shares Price 2026-07-24 purchase: $5.0997 per share Shares purchased 2026-07-23: 79 shares +3 more

6 metrics

Shares purchased 2026-07-24 391 shares Indirect purchase of Common Stock through Mink Brook Partners LP

Price 2026-07-24 purchase $5.0997 per share Weighted-average price over multiple trades within $5.09–$5.10

Shares purchased 2026-07-23 79 shares Indirect purchase of Common Stock through Mink Brook Partners LP

Price 2026-07-23 purchase $5.0975 per share Weighted-average price over multiple trades within $5.08–$5.10

Total shares bought 470 shares Net common shares purchased across reported transactions

Indirect fund holding 694,322 shares Common Stock held by Mink Brook Opportunity Fund LP as of 2026-07-23

Key Terms

weighted average price, beneficially own, pecuniary interest, indirect ownership, +1 more

5 terms

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"

indirect ownership financial

"Represents securities owned directly by Mink Brook Partners LP ... indirect"

ten percent owner financial

"Mink Brook Asset Management LLC is reported as a ten percent owner"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did Mink Brook Asset Management report for DLHC?

Mink Brook Asset Management reported indirect purchases of DLH Holdings Common Stock: 391 shares on July 24, 2026 at $5.0997 and 79 shares on July 23 at $5.0975, executed in multiple trades within disclosed price ranges.

How many DLHC shares did Mink Brook Asset Management buy in total?

Across the reported trades, Mink Brook Asset Management bought 470 shares of DLH Holdings Common Stock indirectly through Mink Brook Partners LP, consisting of 391 shares on July 24, 2026 and 79 shares on July 23, 2026, at weighted-average prices slightly above $5.09 per share.

At what prices were Mink Brook’s DLHC share purchases executed?

The reported prices are $5.0997 per share for 391 shares on July 24, 2026 and $5.0975 per share for 79 shares on July 23, 2026. Footnotes state these are weighted averages over multiple trades within specified ranges around these prices.

What are Mink Brook’s indirect DLHC holdings reported in this Form 4?

A holding entry shows 694,322 shares of DLH Holdings Common Stock held indirectly through Mink Brook Opportunity Fund LP. Mink Brook Asset Management, as investment manager, may be deemed to beneficially own these securities but disclaims beneficial ownership except to the extent of its pecuniary interest.

Were the DLHC trades by Mink Brook under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan, and the footnotes do not reference any such plan, so these DLH Holdings transactions are reported without an associated pre-arranged trading-plan disclosure.

Who actually holds the DLHC shares reported by Mink Brook Asset Management?

The purchased shares are held by Mink Brook Partners LP, and the 694,322-share position is held by Mink Brook Opportunity Fund LP. Mink Brook Asset Management is investment manager to these funds and disclaims beneficial ownership beyond its economic, or pecuniary, interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/24/2026 - 05:31 PM Accepted by SEC EDGAR 07/24/2026 - 05:31 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)
07/23/2026

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")	07/23/2026		P		79	A	$5.0975(1)	2,158,559	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	07/24/2026		P		391	A	$5.0997(4)	2,158,950	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)(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 $5.08 to $5.10 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 $5.09 to $5.10 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	07/24/2026
	** 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)