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Institutional Investment Manager
EMERALD MUTUAL FUND ADVISERS TRUST
EMERALD MUTUAL FUND ADVISERS TRUST (CIK: 0001352895) incorporated in Delaware, located at 3175 Oregon Pike, Leola, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q1)
Portfolio Summary: 219 holdings with a total value of $1,220,308,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 SPIRIT AIRLS INC 391,621 30,499,000 2.50%
2 BANK OF THE OZARKS 724,155 28,829,000 2.36%
3 APOGEE ENTERPRISES INC COM 464,909 24,808,000 2.03%
4 ACADIA HEALTHCARE COMPANY IN 333,842 24,157,000 1.98%
5 EPAM SYS INC 351,835 23,541,000 1.93%
6 OPUS BK IRVINE CALIF 622,679 20,256,000 1.66%
7 TREX CO INC COM 393,195 19,715,000 1.62%
8 IMPERVA INC 408,433 19,372,000 1.59%
9 MICROSEMI CORP 544,776 18,157,000 1.49%
10 ASTRONICS CORP COM 245,319 17,886,000 1.47%
11 JACK IN THE BOX INC 189,709 17,762,000 1.46%
12 BRUNSWICK CORP 311,682 17,174,000 1.41%
13 IPG PHOTONICS CORP 180,011 16,708,000 1.37%
14 PROOFPOINT INC 298,105 16,646,000 1.36%
15 QLIK TECHNOLOGIES INC COM 467,198 16,340,000 1.34%
16 FIRST NBC BK HLDG CO 442,994 15,970,000 1.31%
17 RED ROBIN GOURMET BURGERS INC COM 191,006 15,800,000 1.29%
18 INTREXON CORP 384,932 15,112,000 1.24%
19 MICROSTRATEGY INC CL A NEW 87,618 14,869,000 1.22%
20 PACWEST BANCORP DEL COM 323,102 14,630,000 1.20%
21 FARO TECHNOLOGIES INC COM 336,503 14,557,000 1.19%
22 KFORCE INC COM 625,509 14,049,000 1.15%
23 DEPOMED INC 556,311 13,969,000 1.14%
24 Ultimate Software Group Inc 77,972 13,948,000 1.14%
25 NEUROCRINE BIOSCIE COM USD0.001 347,627 13,133,000 1.08%
26 PORTOLA PHARMACEUTICALS INC 356,983 12,919,000 1.06%
27 FCB FINL HLDGS INC 481,559 12,877,000 1.06%
28 GTT COMMUNICATIONS INC COM 660,227 12,703,000 1.04%
29 CEPHEID 222,447 12,613,000 1.03%
30 CAVIUM INC 189,595 12,512,000 1.03%
31 LENDINGTREE INC NEW COM 201,847 12,464,000 1.02%
32 SYNCHRONOSS TECHNOLOGIES INC COM 251,694 12,363,000 1.01%
33 WELLCARE HEALTH PLANS INC COM 148,320 12,100,000 0.99%
34 MARINEMAX INC COM 505,203 11,903,000 0.98%
35 TUTOR PERINI CORP 504,806 11,676,000 0.96%
36 HOMEAWAY INC 427,346 11,590,000 0.95%
37 CONNECTONE BANCORP INC COM 580,091 11,526,000 0.94%
38 AKORN INC 253,693 11,355,000 0.93%
39 AMTRUST FINL SVCS INC 186,042 11,202,000 0.92%
40 K2M GROUP HLDGS INC COM 507,701 11,195,000 0.92%
41 WALKER & DUNLOP INC COM 557,911 10,946,000 0.90%
42 RENTRAK CORP 221,181 10,729,000 0.88%
43 AMERICAN EAGLE OUTFITTERS IN 628,485 10,433,000 0.85%
44 CoBiz Financial Inc 832,375 10,413,000 0.85%
45 INTERCEPT PHARMACEUTICAL 38,799 10,367,000 0.85%
46 DAVE & BUSTERS ENTMT INC COM 302,542 10,283,000 0.84%
47 MACROGENICS INC 317,928 10,180,000 0.83%
48 GLU MOBILE INC 1,961,707 10,024,000 0.82%
49 CUSTOMERS BANCORP INC COM 384,416 9,833,000 0.81%
50 INOGEN INC COM 259,702 9,812,000 0.80%
Page 1 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144204-15-025900, filed 2015.04.29).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.