Dark
Light
System
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 (2016Q4)
Portfolio Summary: 288 holdings with a total value of $2,100,933,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 AMERIS BANCORP 171,237 7,466,000 0.36%
102 KRATOS DEFENSE & SECURITY SOLU COM 1,008,103 7,460,000 0.36%
103 BLUEBIRD BIO INC COM 120,572 7,439,000 0.35%
104 MACROGENICS INC 358,161 7,321,000 0.35%
105 SYNCHRONOSS TECHNOLOGIES INC 190,268 7,287,000 0.35%
106 DAVE & BUSTERS ENTMT INC 126,913 7,145,000 0.34%
107 INTERCEPT PHARMACEUTICALS INCORPORATED 65,654 7,133,000 0.34%
108 LIVE OAK BANCSHARES INC 380,616 7,041,000 0.34%
109 RED ROBIN GOURMET BURGERS INC COM 123,503 6,966,000 0.33%
110 WESTERN ALLIANCE BANCORP 142,214 6,927,000 0.33%
111 SEQUENTIAL BRNDS GROUP INC N 1,452,991 6,800,000 0.32%
112 INNOSPEC INC COM 99,022 6,783,000 0.32%
113 NEOGENOMICS INC 780,678 6,690,000 0.32%
114 ELLIE MAE INCORPORATED 79,337 6,639,000 0.32%
115 MB FINL INC 136,913 6,466,000 0.31%
116 REPUBLIC FIRST BANCORP INC 747,663 6,243,000 0.30%
117 TEAM INC COM NEW 155,100 6,088,000 0.29%
118 Oceanfirst Financial Corporati 195,606 5,874,000 0.28%
119 MODEL N INCORPORATED 648,075 5,735,000 0.27%
120 WASHINGTONFIRST BANKSHARES I 197,059 5,713,000 0.27%
121 NANTHEALTH INC 559,261 5,559,000 0.26%
122 MALVERN BANCORP INC COM 259,003 5,478,000 0.26%
123 BNC BANCORP 171,605 5,474,000 0.26%
124 STONEGATE BANK 129,815 5,417,000 0.26%
125 MERITAGE HOMES CORP COM 155,376 5,407,000 0.26%
126 CONNECTONE BANCORP INC COM 205,231 5,326,000 0.25%
127 XACTLY CORPORATION 481,507 5,297,000 0.25%
128 MARINEMAX INC COM 266,214 5,151,000 0.25%
129 KONA GRILL INC COM 410,040 5,146,000 0.24%
130 CENTERSTATE BANKS COMMON STK USD0.01 203,323 5,118,000 0.24%
131 INPHI CORPORATION 112,620 5,025,000 0.24%
132 REATA PHARMACEUTICALS INC 229,559 5,011,000 0.24%
133 MEDEQUITIES RLTY TR INC COM 448,494 4,978,000 0.24%
134 REIS INC 221,026 4,918,000 0.23%
135 FIRST CHOICE BANK 286,000 4,728,000 0.23%
136 1st Source Corp 100,000 4,466,000 0.21%
137 PRIVATEBANCORP INC 78,990 4,280,000 0.20%
138 SIGNATURE BANK 28,387 4,264,000 0.20%
139 BANKRATE INC DEL COM 382,462 4,226,000 0.20%
140 SIMMONS 1ST NATL CORP CL A $1 PAR 66,236 4,117,000 0.20%
141 First Fndtn Inc 142,037 4,048,000 0.19%
142 QCR HOLDINGS INC 93,253 4,038,000 0.19%
143 Howard Bancorp Inc 262,499 3,964,000 0.19%
144 TABULA RASA HEALTHCARE INC COM 237,543 3,558,000 0.17%
145 Mercantile Bank Corp 87,881 3,313,000 0.16%
146 Paragon Commercial Corp 75,493 3,301,000 0.16%
147 APPLIED GENETIC TECHNOL CORP 335,661 3,138,000 0.15%
148 UNITED CMNTY BKS BLAIRSVLE GA COM 101,784 3,015,000 0.14%
149 INVESTAR HLDG CORP 157,712 2,941,000 0.14%
150 LEGACY TEX FINL GROUP INC 67,200 2,894,000 0.14%
Page 3 of 6

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144204-17-003969, filed 2017.01.26).

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.