Emerald Mutual Fund Advisers, Trust

Emerald Mutual Fund Advisers Trust as of Dec. 31, 2013

Portfolio Holdings for Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust holds 208 positions in its portfolio as reported in the December 2013 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
MWI Veterinary Supply 2.9 $23M 137k 169.97
Trex Company (TREX) 2.6 $21M 259k 79.53
Spirit Airlines (SAVE) 2.2 $18M 388k 45.41
Bank of the Ozarks 2.2 $17M 307k 56.59
SVB Financial (SIVBQ) 1.9 $15M 142k 104.86
Acadia Healthcare (ACHC) 1.9 $15M 315k 47.33
Homeaway 1.6 $13M 309k 40.88
Proofpoint 1.5 $12M 369k 33.17
Middleby Corporation (MIDD) 1.5 $12M 50k 239.73
Fifth & Pac Cos 1.5 $12M 369k 32.07
Magnum Hunter Resources Corporation 1.4 $11M 1.6M 7.31
Multimedia Games 1.4 $11M 357k 31.36
Akorn 1.4 $11M 453k 24.62
First Nbc Bank Holding 1.4 $11M 346k 32.30
Alnylam Pharmaceuticals (ALNY) 1.4 $11M 169k 64.30
Epam Systems (EPAM) 1.3 $10M 298k 34.94
Infoblox 1.3 $10M 304k 33.02
CalAmp 1.2 $9.9M 354k 27.97
Tile Shop Hldgs (TTSH) 1.2 $9.8M 542k 18.07
Cambrex Corporation 1.2 $9.7M 547k 17.83
Roadrunner Transportation Services Hold. 1.2 $9.8M 363k 26.95
NPS Pharmaceuticals 1.2 $9.5M 313k 30.36
Imperva 1.2 $9.4M 194k 48.13
Evercore Partners (EVR) 1.1 $9.1M 153k 59.78
Acuity Brands (AYI) 1.1 $9.1M 83k 109.33
Amtrust Financial Services 1.1 $8.7M 267k 32.69
Channeladvisor 1.1 $8.7M 209k 41.71
PolyOne Corporation 1.1 $8.5M 242k 35.35
8x8 (EGHT) 1.1 $8.5M 833k 10.15
Ultimate Software 1.0 $8.2M 54k 153.22
CoBiz Financial 1.0 $8.2M 684k 11.96
Red Robin Gourmet Burgers (RRGB) 1.0 $8.0M 109k 73.54
Cepheid 1.0 $7.9M 170k 46.67
Gulfport Energy Corporation 1.0 $7.7M 122k 63.13
USG Corporation 1.0 $7.6M 267k 28.38
WESCO International (WCC) 1.0 $7.6M 84k 91.07
Qlik Technologies 0.9 $7.6M 284k 26.63
Cornerstone Ondemand 0.9 $7.5M 141k 53.31
Wesco Aircraft Holdings 0.9 $7.2M 329k 21.92
Jack in the Box (JACK) 0.9 $7.1M 143k 50.02
ISIS Pharmaceuticals 0.9 $7.2M 180k 39.84
Lumber Liquidators Holdings (LL) 0.9 $7.0M 68k 102.89
Rex Energy Corporation 0.9 $7.0M 355k 19.71
IPG Photonics Corporation (IPGP) 0.9 $6.9M 89k 77.60
H&E Equipment Services (HEES) 0.9 $6.9M 231k 29.63
Gigamon 0.8 $6.6M 234k 28.08
Penske Automotive (PAG) 0.8 $6.4M 135k 47.16
Brightcove (BCOV) 0.8 $6.3M 445k 14.14
Rally Software Development 0.8 $6.3M 322k 19.45
FARO Technologies (FARO) 0.8 $6.1M 105k 58.30
Customers Ban (CUBI) 0.7 $5.9M 287k 20.46
Ixia 0.7 $5.8M 435k 13.31
Omnicell (OMCL) 0.7 $5.6M 218k 25.53
Saba Software 0.7 $5.5M 450k 12.25
Pacific Premier Ban (PPBI) 0.7 $5.5M 351k 15.74
Intercept Pharmaceuticals In 0.7 $5.6M 81k 68.28
Gray Television (GTN) 0.7 $5.5M 367k 14.88
Lithia Motors (LAD) 0.7 $5.3M 76k 69.42
Meritage Homes Corporation (MTH) 0.7 $5.3M 110k 47.99
Diamondback Energy (FANG) 0.7 $5.2M 99k 52.88
Aruba Networks 0.6 $5.1M 283k 17.90
Cynosure 0.6 $5.1M 191k 26.64
PDF Solutions (PDFS) 0.6 $4.9M 191k 25.62
Us Silica Hldgs (SLCA) 0.6 $5.0M 145k 34.11
Chuys Hldgs (CHUY) 0.6 $4.8M 134k 36.02
Methode Electronics (MEI) 0.6 $4.7M 139k 34.19
Black Diamond 0.6 $4.7M 349k 13.33
Cavium 0.6 $4.6M 133k 34.51
Apogee Enterprises (APOG) 0.6 $4.4M 122k 35.91
Five Below (FIVE) 0.6 $4.3M 101k 43.20
Guidewire Software (GWRE) 0.5 $4.3M 87k 49.07
Nanostring Technologies (NSTGQ) 0.5 $4.3M 247k 17.24
Bind Therapeutics 0.5 $4.3M 286k 15.09
Microsemi Corporation 0.5 $4.1M 163k 24.95
Sarepta Therapeutics (SRPT) 0.5 $4.0M 198k 20.37
Carmike Cinemas 0.5 $4.0M 142k 27.84
Christopher & Banks Corporation (CBKCQ) 0.5 $3.9M 451k 8.54
Macrogenics (MGNX) 0.5 $3.9M 143k 27.43
Thoratec Corporation 0.5 $3.7M 101k 36.60
Inphi Corporation 0.5 $3.7M 291k 12.90
Portola Pharmaceuticals 0.5 $3.8M 146k 25.75
Applied Optoelectronics (AAOI) 0.5 $3.7M 248k 15.01
Surgical Care Affiliates 0.5 $3.7M 107k 34.84
Financial Engines 0.5 $3.6M 52k 69.49
Verastem 0.5 $3.6M 317k 11.40
Chegg (CHGG) 0.5 $3.6M 426k 8.51
Intrexon 0.5 $3.5M 149k 23.80
Taylor Morrison Hom (TMHC) 0.4 $3.5M 157k 22.45
Synageva Biopharma 0.4 $3.4M 52k 64.72
Blackhawk Network Hldgs Inc cl a 0.4 $3.4M 136k 25.26
PacWest Ban 0.4 $2.9M 69k 42.21
Insys Therapeutics 0.4 $3.0M 76k 38.71
Neonode 0.3 $2.8M 442k 6.32
Proto Labs (PRLB) 0.3 $2.8M 39k 71.17
Ciena Corporation (CIEN) 0.3 $2.6M 110k 23.93
Independent Bank (IBTX) 0.3 $2.6M 53k 49.66
Astronics Corporation (ATRO) 0.3 $2.5M 49k 51.01
Global Eagle Acquisition Cor 0.3 $2.5M 165k 14.87
Flagstar Ban 0.3 $2.5M 126k 19.62
Signature Bank (SBNY) 0.3 $2.2M 21k 107.43
Aegerion Pharmaceuticals 0.3 $2.1M 30k 70.96
Everbank Finl 0.3 $2.1M 117k 18.34
BofI Holding 0.3 $2.1M 27k 78.45
California Republic Ban 0.3 $2.0M 87k 23.70
Restoration Hardware Hldgs I 0.3 $2.1M 31k 67.29
Ldr Hldg 0.3 $2.1M 88k 23.60
First Internet Bancorp (INBK) 0.2 $2.0M 90k 22.50
Home BancShares (HOMB) 0.2 $1.9M 51k 37.36
Gsv Cap Corp 0.2 $1.9M 154k 12.09
Tillys (TLYS) 0.2 $1.9M 169k 11.45
Control4 0.2 $1.9M 106k 17.70
Chart Industries (GTLS) 0.2 $1.8M 19k 95.66
Bankunited (BKU) 0.2 $1.8M 55k 32.92
Connectone Ban 0.2 $1.8M 45k 39.62
First Financial 0.2 $1.8M 27k 66.50
Select Comfort 0.2 $1.8M 84k 21.08
Howard Ban 0.2 $1.7M 178k 9.31
Primoris Services (PRIM) 0.2 $1.6M 51k 31.14
Sanchez Energy Corp C ommon stocks 0.2 $1.6M 66k 24.51
Eagle Ban (EGBN) 0.2 $1.5M 48k 30.63
First Financial Bankshares (FFIN) 0.2 $1.4M 21k 66.10
Cu Bancorp Calif 0.2 $1.3M 77k 17.48
United Ins Hldgs (ACIC) 0.2 $1.4M 98k 14.08
Jive Software 0.2 $1.3M 111k 11.25
Ofg Ban (OFG) 0.2 $1.3M 74k 17.34
Meta Financial (CASH) 0.1 $1.2M 30k 40.34
HEALTH INSURANCE Common equity Innovations shares 0.1 $1.2M 114k 10.11
First of Long Island Corporation (FLIC) 0.1 $1.1M 26k 42.87
Lakeland Financial Corporation (LKFN) 0.1 $1.1M 28k 39.00
Ameris Ban (ABCB) 0.1 $1.1M 54k 21.12
Cass Information Systems (CASS) 0.1 $1.0M 15k 67.37
Center Ban 0.1 $1.0M 54k 18.76
Bridge Ban 0.1 $1.0M 39k 26.00
Old Line Bancshares 0.1 $1.1M 74k 14.50
Diversified Restaurant Holdi 0.1 $1.0M 220k 4.77
Diamond Resorts International 0.1 $994k 54k 18.47
Western Alliance Bancorporation (WAL) 0.1 $912k 38k 23.86
First Business Financial Services (FBIZ) 0.1 $945k 25k 37.61
Atlantic Coast Financial Cor 0.1 $977k 226k 4.33
Liposcience 0.1 $941k 221k 4.25
Sterling Bancorp 0.1 $932k 70k 13.36
Tree 0.1 $890k 27k 32.86
Investors Ban 0.1 $876k 34k 25.59
Elmira Savings Bank 0.1 $911k 36k 25.19
Silvercrest Asset Mgmt Groupcl (SAMG) 0.1 $853k 50k 17.06
East West Ban (EWBC) 0.1 $812k 23k 34.97
TransAct Technologies Incorporated (TACT) 0.1 $791k 63k 12.52
Prosperity Bancshares (PB) 0.1 $766k 12k 63.41
FirstMerit Corporation 0.1 $775k 35k 22.23
Pinnacle Financial Partners (PNFP) 0.1 $790k 24k 32.51
Shore Bancshares (SHBI) 0.1 $775k 84k 9.22
Heritage Oaks Ban 0.1 $799k 107k 7.50
American Business Bank (AMBZ) 0.1 $773k 26k 30.28
Tandem Diabetes Care 0.1 $803k 31k 25.77
Texas Capital Bancshares (TCBI) 0.1 $710k 11k 62.23
Farmers Natl Banc Corp (FMNB) 0.1 $684k 105k 6.55
Physicians Realty Trust 0.1 $675k 53k 12.73
CapitalSource 0.1 $640k 45k 14.37
Chemical Financial Corporation 0.1 $633k 20k 31.65
Independent Bank (INDB) 0.1 $597k 15k 39.15
QCR Holdings (QCRH) 0.1 $618k 36k 17.04
Independent Bank Corporation (IBCP) 0.1 $600k 50k 12.00
Glimcher Realty Trust 0.1 $591k 63k 9.35
Bryn Mawr Bank 0.1 $552k 18k 30.18
First PacTrust Ban 0.1 $558k 42k 13.41
Federated National Holding C 0.1 $587k 40k 14.68
United Community Financial 0.1 $446k 125k 3.57
Meridian Interstate Ban 0.1 $469k 21k 22.57
Uni-Pixel 0.1 $481k 48k 10.02
Northeast Bancorp 0.1 $500k 52k 9.58
Atlas Financial Holdings (AFHIF) 0.1 $466k 32k 14.72
Washington Banking Company 0.1 $432k 24k 17.74
Renasant (RNST) 0.1 $405k 13k 31.49
Peoples Ban (PEBO) 0.1 $360k 16k 22.50
Urstadt Biddle Properties 0.1 $409k 22k 18.44
Cascade Bancorp 0.1 $376k 72k 5.24
Heritage Financial 0.1 $413k 22k 19.25
Mackinac Financial Corporation 0.1 $361k 36k 9.91
Teche Holding Company 0.1 $390k 7.8k 49.94
Citizens Financial Services (CZFS) 0.1 $390k 7.6k 51.51
Peoples Financial Corporation (PFBX) 0.1 $436k 33k 13.05
First Capital Ban 0.1 $418k 90k 4.64
Central Valley Community Ban 0.1 $389k 35k 11.25
Kingstone Companies (KINS) 0.1 $364k 50k 7.28
Vantagesouth Bancshares 0.1 $426k 81k 5.27
First Bank (FRBA) 0.1 $412k 65k 6.33
DiamondRock Hospitality Company (DRH) 0.0 $321k 28k 11.56
Guaranty Ban 0.0 $316k 23k 14.04
Home Fed Bancorp Inc La (HFBL) 0.0 $330k 19k 17.82
Cubesmart (CUBE) 0.0 $338k 21k 15.92
Artisan Partners (APAM) 0.0 $320k 4.9k 65.12
Tristate Capital Hldgs 0.0 $323k 27k 11.86
Hilltop Holdings (HTH) 0.0 $243k 11k 23.10
Hersha Hospitality Trust 0.0 $247k 44k 5.57
Flushing Financial Corporation (FFIC) 0.0 $259k 13k 20.72
Saul Centers (BFS) 0.0 $242k 5.1k 47.83
Bridge Capital Holdings 0.0 $221k 11k 20.56
Heritage Financial Corporation (HFWA) 0.0 $254k 15k 17.10
Home Ban (HBCP) 0.0 $220k 12k 18.84
Territorial Ban (TBNK) 0.0 $205k 8.8k 23.22
Hingham Institution for Savings (HIFS) 0.0 $244k 3.1k 78.51
Southern National Banc. of Virginia 0.0 $206k 21k 10.00
shares First Bancorp P R (FBP) 0.0 $227k 37k 6.20
BNC Ban 0.0 $241k 14k 17.13
Cortland Ban 0.0 $204k 20k 10.24
Marcus & Millichap (MMI) 0.0 $270k 18k 14.88
HopFed Ban 0.0 $182k 16k 11.37
Doral Financial Corp Common St 0.0 $175k 11k 15.62