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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 (2016Q3)
Portfolio Summary: 283 holdings with a total value of $1,964,630,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 SPIRIT AIRLS INC 331,017 14,078,000 0.72%
52 TENNANT CO COM 216,550 14,032,000 0.71%
53 CARETRUST REIT INC COM 945,965 13,981,000 0.71%
54 INSMED INC COM PAR .01 951,061 13,809,000 0.70%
55 K2M GROUP HLDGS INC COM 764,203 13,588,000 0.69%
56 MACOM TECH SOLUTIONS HLDGS I 316,045 13,381,000 0.68%
57 MERCURY SYS INC COM 537,968 13,218,000 0.67%
58 SVB FINANCIAL GROUP 116,941 12,927,000 0.66%
59 URBAN OUTFITTERS INC COM 369,300 12,748,000 0.65%
60 KNOLL INC 554,266 12,665,000 0.64%
61 OLLIES BARGAIN OUTLET HLDGS IN COM 482,515 12,647,000 0.64%
62 Alder Biopharmaceutl 384,137 12,588,000 0.64%
63 GENERAC HLDGS INC 341,589 12,400,000 0.63%
64 ELLIE MAE INCORPORATED 116,810 12,300,000 0.63%
65 TILE SHOP HLDGS INC 719,292 11,904,000 0.61%
66 CUSTOMERS BANCORP INC COM 466,382 11,734,000 0.60%
67 WALKER & DUNLOP INC COM 463,417 11,706,000 0.60%
68 WELLCARE HEALTH PLANS INC COM 99,773 11,682,000 0.59%
69 Sequential Brands Group, Inc. 1,448,534 11,588,000 0.59%
70 PLANET FITNESS INC 574,428 11,529,000 0.59%
71 PENN NATL GAMING INC 847,856 11,505,000 0.59%
72 RICE ENERGY INC 430,439 11,239,000 0.57%
73 GMS INC 494,164 10,985,000 0.56%
74 LIVE OAK BANCSHARES INC 752,390 10,849,000 0.55%
75 MACROGENICS INC 358,161 10,713,000 0.55%
76 IPG PHOTONICS CORP 126,414 10,410,000 0.53%
77 INTERCEPT PHARMACEUTICAL 63,233 10,408,000 0.53%
78 NATIONAL COMM CORP COM 384,135 10,395,000 0.53%
79 MARINEMAX INC COM 493,734 10,344,000 0.53%
80 CANTEL MED CORP 125,871 9,815,000 0.50%
81 Teladoc, Inc. 517,913 9,483,000 0.48%
82 COGENT COMMUNICATIONS HLDGS IN COM NEW 256,827 9,454,000 0.48%
83 AMICUS THERAPEUTICS INC 1,270,437 9,401,000 0.48%
84 ADAMAS PHARMACEUTICALS INC 571,789 9,383,000 0.48%
85 HOME BANCSHARES INC COM 440,592 9,169,000 0.47%
86 IMAX CORP COM 312,098 9,041,000 0.46%
87 APPLIED OPTOELECTRONICS INC 401,283 8,912,000 0.45%
88 VARONIS SYS INC COM 293,405 8,831,000 0.45%
89 SIGNATURE BANK 71,512 8,471,000 0.43%
90 RED ROBIN GOURMET BURGERS INC COM 186,496 8,381,000 0.43%
91 KLX INC COM 236,723 8,333,000 0.42%
92 EAGLE BANCORP INC MD 167,748 8,275,000 0.42%
93 BERRY PLASTICS GROUP INC 188,477 8,265,000 0.42%
94 ATRICURE INC 510,043 8,069,000 0.41%
95 VIRTU FINL INC CL A 528,320 7,909,000 0.40%
96 SYNCHRONOSS TECHNOLOGIES INC COM 190,268 7,835,000 0.40%
97 INTEGER HLDGS CORP COM 361,193 7,834,000 0.40%
98 NANTHEALTH INC 585,741 7,702,000 0.39%
99 MARCUS CORP DEL COM 304,623 7,628,000 0.39%
100 META FINL GROUP INC 125,327 7,596,000 0.39%
Page 2 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144204-16-129841, filed 2016.10.27).

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.