DLH Holdings Corp.: which funds bought and sold

Institutions that bought and sold DLH Holdings shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 14 institutions that filed 13F reports for both quarters added to or opened positions in DLH Holdings, and 17 cut or closed them. Together they added a net 369K shares, +3.9% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 18K shares (−5.9%); index fund managers were net buyers of 12K shares (+1.4%). 8 opened a new position and 5 sold out entirely.

Bought, Q2 2026 14 institutions, 8 of them new holders Sold, Q2 2026 17 institutions, 5 of them sold out

Net change, all compared +369K shares (+3.9%)

Net change, active managers −18K shares (−5.9%), 1 bought, 4 sold

Buyers versus sellers

institutions compared, 50

14 bought 19 17 sold

Active managers and hedge funds 1 bought · 4 sold · −18K

Index fund managers 2 bought · 3 sold · +12K

Other institutions 11 bought · 10 sold · +375K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Merit Financial Group, LLC	+252K New position	252K	$1.3M
Mink Brook Asset Management LLC	+139K +5.2%	2.8M	$14.8M
Anson Funds Management LP Hedge fund	+20K New position	20K	$105,058
Goldman Sachs Group Inc	+14K New position	14K	$71,495
Blackrock, Inc. Index funds	+13K +18.2%	85K	$447,584
Vanguard Fiduciary Trust Co Index funds	+3,561 +5.4%	70K	$364,901
Minerva Advisors LLC	+3,331 +0.3%	1.1M	$5.9M
Tower Research Capital LLC (TRC)	+487 New position	487	$2,557
Dimensional Fund Advisors LP	+340 +0.1%	248K	$1.3M
Osaic Holdings, Inc.	+210 +23.0%	1,125	$5,906
Simplex Trading, LLC	+114 New position	114	$598
Barclays PLC	+50 New position	50	$263
Arax Advisory Partners	+2 New position	2	$10
Integrated Wealth Concepts LLC	+2 New position	2	$11

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Anson Funds Management LP Hedge fund	+20K New position	20K	$105,058

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	−13K −26.6%	36K	$189,441
Bridgeway Capital Management, LLC Active manager	−13K −26.9%	35K	$185,278
Renaissance Technologies LLC Hedge fund	−12K −6.0%	182K	$954,833
Susquehanna International Group, LLP	−10K Sold out	0	—
Proficio Capital Partners LLC	−8,311 −21.7%	30K	$157,500
Morgan Stanley	−8,299 −18.4%	37K	$193,710
LPL Financial LLC	−6,200 −36.0%	11K	$57,750
Northern Trust Corp Index funds	−1,924 −5.3%	34K	$180,096
Geode Capital Management, LLC Index funds	−1,862 −1.3%	137K	$717,510
Vanguard Capital Management LLC Index funds	−1,332 −0.3%	440K	$2.3M
Royal Bank Of Canada	−531 Sold out	0	—
UBS Group AG	−484 −39.7%	735	$3,859
Optiver Holding B.V.	−101 Sold out	0	—
FMR LLC Active manager	−37 −0.4%	8,802	$46,211
Private Wealth Management Group, LLC	−23 −12.6%	160	$840
Advisory Services Network, LLC	−12 Sold out	0	—
Citigroup Inc	−1 Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	−13K −26.6%	36K	$189,441
Bridgeway Capital Management, LLC Active manager	−13K −26.9%	35K	$185,278
Renaissance Technologies LLC Hedge fund	−12K −6.0%	182K	$954,833
FMR LLC Active manager	−37 −0.4%	8,802	$46,211

New positions

largest by value

Institution	Shares	Value June 30, 2026
Merit Financial Group, LLC	252K	$1.3M
Anson Funds Management LPHedge fund	20K	$105,058
Goldman Sachs Group Inc	14K	$71,495
Tower Research Capital LLC (TRC)	487	$2,557
Simplex Trading, LLC	114	$598
Barclays PLC	50	$263
Integrated Wealth Concepts LLC	2	$11
Arax Advisory Partners	2	$10

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Susquehanna International Group, LLP	10K	$59,597
Royal Bank Of Canada	531	$3,000
Optiver Holding B.V.	101	$588
Advisory Services Network, LLC	12	$70
Citigroup Inc	1	$6

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 45
Ten largest holders: 93.3%
Index fund managers: 8.3%
Active managers and hedge funds: 2.9%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	1	4	1	0	−18K	−5.9%
Index fund managers	2	3	0	0	+12K	+1.4%
Other institutions	11	10	7	5	+375K	+4.5%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on DLH Holdings.

Only managers that filed a holdings report for both quarters are compared (50 here). 1 other holder is left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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