DLH Holdings

DLHC • NASDAQ

DLH Holdings is a specialty business services company in the industrials sector on NASDAQ, with a market cap of $82.8M. As of Q3 2025, 66% of shares are held by 46 institutional investors, with WYNNEFIELD CAPITAL INC as the largest holder at 25.59%.

Market Cap$82.8M

Specialty Business Services

Industrials

Employees3.2K

Websitedlhcorp.com

Country

United States of America

Overview

Overview of institutional ownership in DLHC as of Q3 2025 with a market cap of $81.3M

All Institutions

Institutions: 46
Value Held: $53.5M
Shares Held: 9.5M
Avg Position: $1.2M
Median Position: $23.1K

Hedge Funds

Hedge Funds: 6
Value Held: $29.1M
Shares Held: 5.1M
Avg Position: $4.8M
Median Position: $882.9K

Ownership Breakdown

Institutional (non-HF)

30.02%

$24.4M

Hedge Funds

35.76%

$29.1M

Retail & Other

34.22%

$27.8M

Based on market cap of $81.3M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DLHC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
WYNNEFIELD CAPITAL INC Hedge Fund•Value	Joshua Haim Landes President	$20.8M 12.50% of portfolio	25.59% 3.7M shares	≤ Q2 2013 Held for 12y 5m+	$166.4M
M Mink Brook Asset Management LLC Institution	-	$14.5M 10.01% of portfolio	17.84% 2.6M shares	Q4 2024 Held for 11 months	$144.8M
M Minerva Advisors LLC Hedge Fund•Value	David Peter Cohen President	$6.3M 4.01% of portfolio	7.76% 1.1M shares	Q1 2019 Held for 6y 8m	$157.5M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.8M 0.00% of portfolio	3.44% 494.6K shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$1.4M 0.00% of portfolio	1.76% 253.5K shares	Q3 2017 Held for 8y 2m	$466.32B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$1.4M 0.00% of portfolio	1.75% 252.1K shares	≤ Q2 2013 Held for 12y 5m+	$75.8B
R RBF Capital, LLC Institution	-	$1.3M 0.06% of portfolio	1.56% 225.0K shares	Q2 2025 Held for 5 months	$2.2B
PERRITT CAPITAL MANAGEMENT INC Long Only Manager	Mark J Buh President	$961.6K 0.46% of portfolio	1.18% 170.2K shares	Q1 2014 Held for 11y 8m	$211.0M
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$773.2K 0.00% of portfolio	0.95% 136.8K shares	Q3 2020 Held for 5y 2m	$1.57T
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	$524.4K 0.01% of portfolio	0.65% 92.8K shares	Q3 2017 Held for 8y 2m	$4.7B

Net Capital Flow

Institutional buying and selling activity for DLHC in Q3 2025

Traded: +$6.0K
Buyers: 18
Sellers: 28
Total Bought: +$1.5M
Total Sold: −$1.4M
Avg Position: $938.1K

Biggest Buyers

Institution	Net Bought	Current Position
M Mink Brook Asset Management LLC Institution	+$1.1M +199.6K shares	$14.5M 2.6M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$135.6K +24.0K shares	$1.4M 252.1K shares
C Corton Capital Inc. Institution	+$67.1K +11.9K shares	$67.1K 11.9K shares
M Minerva Advisors LLC Hedge Fund•Value	+$34.2K +6.1K shares	$6.3M 1.1M shares
VANGUARD GROUP INC Institution	+$32.4K +5.7K shares	$2.8M 494.6K shares
GOLDMAN SACHS GROUP INC Institution	+$22.7K +4.0K shares	$141.9K 25.1K shares
R ROYAL BANK OF CANADA Institution	+$7.8K +-23.5K shares	$7.8K 1.4K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$7.0K +1.2K shares	$82.1K 14.5K shares
R Russell Investments Group, Ltd. RIA/Wealth	+$6.1K +-51.6K shares	$6.1K 1.1K shares
A Advisor Group Holdings, Inc. Institution	+$5.1K +915.0 shares	$9.2K 1.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
Ancora Advisors, LLC RIA/Wealth	−$249.6K −42.7K shares	Sold Off 0 shares
Y Y-Intercept Ltd Institution	−$239.3K −41.0K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$136.5K −24.2K shares	$279.2K 49.4K shares
H HRT FINANCIAL LLC Institution	−$111.4K −19.1K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$97.7K −17.3K shares	$341.6K 60.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$95.1K −16.8K shares	$108.1K 19.1K shares
Q Quadrature Capital Ltd Institution	−$89.2K −15.3K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$75.3K −13.3K shares	$320.4K 56.7K shares
Q Qube Research & Technologies Ltd Institution	−$73.2K −12.5K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$65.0K −11.1K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DLHC in Q3 2025

New Positions: 3
New Value: $678.0
Exited Positions: 11
Exited Value: $960.0K

New Positions

Institution	Position Value
O Optiver Holding B.V. Institution	$565.0 100.0 shares
A Advisory Services Network, LLC RIA/Wealth	$68.0 12.0 shares
SRS Capital Advisors, Inc. RIA/Wealth	$45.0 8.0 shares

Exited Positions

Institution	Previous Position
Ancora Advisors, LLC RIA/Wealth	$249.6K 42.7K shares
Y Y-Intercept Ltd Institution	$239.3K 41.0K shares
H HRT FINANCIAL LLC Institution	$111.4K 19.1K shares
Q Quadrature Capital Ltd Institution	$89.2K 15.3K shares
Q Qube Research & Technologies Ltd Institution	$73.2K 12.5K shares
J JANE STREET GROUP, LLC Institution	$65.0K 11.1K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$62.9K 10.8K shares
BARD ASSOCIATES INC RIA/Wealth	$59.9K 10.3K shares
WELLS FARGO & COMPANY/MN Institution	$9.2K 1.6K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$210.0 36.0 shares

Options Activity

Institutions with the largest Call and Put options positions in DLHC as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with DLHC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
WYNNEFIELD CAPITAL INC Hedge Fund•Value	Joshua Haim Landes President	12.50% $20.8M	25.59% 3.7M shares	≤ Q2 2013 Held for 12y 5m+	$166.4M
M Mink Brook Asset Management LLC Institution	-	10.01% $14.5M	17.84% 2.6M shares	Q4 2024 Held for 11 months	$144.8M
M Minerva Advisors LLC Hedge Fund•Value	David Peter Cohen President	4.01% $6.3M	7.76% 1.1M shares	Q1 2019 Held for 6y 8m	$157.5M
PERRITT CAPITAL MANAGEMENT INC Long Only Manager	Mark J Buh President	0.46% $961.6K	1.18% 170.2K shares	Q1 2014 Held for 11y 8m	$211.0M
C Corton Capital Inc. Institution	-	0.17% $67.1K	0.08% 11.9K shares	Q2 2024 Held for 1y 5m	$40.6M
R RBF Capital, LLC Institution	-	0.06% $1.3M	1.56% 225.0K shares	Q2 2025 Held for 5 months	$2.2B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.01% $524.4K	0.65% 92.8K shares	Q3 2017 Held for 8y 2m	$4.7B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	0.00% $1.4M	1.75% 252.1K shares	≤ Q2 2013 Held for 12y 5m+	$75.8B
FIFTH THIRD BANCORP Institution	Greg D. Carmichael CEO	0.00% $283.4K	0.35% 50.2K shares	Q3 2024 Held for 1y 2m	$31.2B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	0.00% $320.4K	0.39% 56.7K shares	Q1 2025 Held for 8 months	$67.9B

Hedge Fund Spotlight

Discover hedge funds investing in DLHC

WYNNEFIELD CAPITAL INC

Hedge Fund • Value

Portfolio ManagerJoshua Haim Landes

Portfolio Value: $166.4M
Positions: 15
Last Reported: Q3 2025

Sector Allocation

Position in DLH Holdings

Market Value: $20.8M
Shares Held: 3.7M
Portfolio Weight: 12.50%
Owned Since: 2013-Q2

Top Holding	Sector	Market Value	Weight
1 Cadre Holdings CDRE	Aerospace & Defense Industrials	$41.1M	24.69%
2 Nature's Sunshine Products NATR	Packaged Foods Consumer Defensive	$38.4M	23.07%
3 Lifecore Biomedical, Inc. LFCR	Drug Manufacturers - Specialty & Generic Healthcare	$34.6M	20.80%