Emerald Mutual Fund Advisers, Trust

Emerald Mutual Fund Advisers Trust as of March 31, 2014

Portfolio Holdings for Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust holds 221 positions in its portfolio as reported in the March 2014 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Spirit Airlines (SAVE) 2.8 $29M 494k 59.40
MWI Veterinary Supply 2.6 $27M 172k 155.62
Bank of the Ozarks 2.4 $25M 364k 68.06
Trex Company (TREX) 2.3 $24M 333k 73.16
SVB Financial (SIVBQ) 2.0 $21M 166k 128.78
Middleby Corporation (MIDD) 1.8 $18M 70k 264.22
Proofpoint 1.8 $18M 494k 37.08
Acadia Healthcare (ACHC) 1.7 $18M 396k 45.12
Magnum Hunter Resources Corporation 1.6 $17M 1.9M 8.50
Homeaway 1.4 $15M 397k 37.67
Alnylam Pharmaceuticals (ALNY) 1.4 $14M 213k 67.14
Imperva 1.4 $14M 257k 55.70
First Nbc Bank Holding 1.4 $14M 408k 34.86
Kate Spade & Co 1.3 $14M 370k 37.09
Multimedia Games 1.3 $13M 459k 29.04
Acuity Brands (AYI) 1.3 $13M 99k 132.57
PolyOne Corporation 1.2 $13M 344k 36.66
Amtrust Financial Services 1.2 $12M 330k 37.61
Wesco Aircraft Holdings 1.2 $12M 550k 22.01
Epam Systems (EPAM) 1.1 $12M 365k 32.90
NPS Pharmaceuticals 1.1 $12M 395k 29.93
H&E Equipment Services (HEES) 1.1 $12M 285k 40.45
8x8 (EGHT) 1.1 $11M 1.1M 10.81
Tile Shop Hldgs (TTSH) 1.0 $11M 706k 15.45
Jack in the Box (JACK) 1.0 $11M 181k 58.94
Evercore Partners (EVR) 1.0 $11M 192k 55.25
Cepheid 1.0 $11M 206k 51.58
Cavium 1.0 $11M 243k 43.73
Red Robin Gourmet Burgers (RRGB) 1.0 $10M 140k 71.68
InterMune 0.9 $9.8M 293k 33.47
CoBiz Financial 0.9 $9.7M 844k 11.52
Channeladvisor 0.9 $9.7M 257k 37.74
Cambrex Corporation 0.9 $9.6M 510k 18.87
D Horizon Pharma 0.9 $9.6M 636k 15.12
FARO Technologies (FARO) 0.9 $9.6M 181k 53.00
Roadrunner Transportation Services Hold. 0.9 $9.5M 377k 25.24
Qlik Technologies 0.9 $9.5M 357k 26.59
USG Corporation 0.9 $9.3M 284k 32.72
PacWest Ban 0.9 $9.3M 216k 43.01
Ultimate Software 0.9 $9.2M 67k 137.00
WESCO International (WCC) 0.8 $8.8M 106k 83.22
Intercept Pharmaceuticals In 0.8 $8.8M 27k 329.78
Diamondback Energy (FANG) 0.8 $8.8M 131k 67.31
Gigamon 0.8 $8.8M 290k 30.39
DepoMed 0.8 $8.6M 593k 14.50
CalAmp 0.8 $8.6M 309k 27.87
Cornerstone Ondemand 0.8 $8.4M 176k 47.87
Kforce (KFRC) 0.8 $8.4M 392k 21.32
Lumber Liquidators Holdings (LL) 0.8 $8.0M 86k 93.81
IPG Photonics Corporation (IPGP) 0.8 $8.1M 114k 71.08
Aruba Networks 0.8 $8.1M 430k 18.75
Infoblox 0.8 $7.9M 395k 20.06
Omnicell (OMCL) 0.8 $7.8M 273k 28.62
Us Silica Hldgs (SLCA) 0.7 $7.7M 202k 38.17
Applied Optoelectronics (AAOI) 0.7 $7.7M 310k 24.67
Primoris Services (PRIM) 0.7 $7.4M 246k 29.98
Nanostring Technologies (NSTGQ) 0.7 $7.4M 358k 20.65
Gulfport Energy Corporation 0.7 $7.4M 104k 71.18
Customers Ban (CUBI) 0.7 $7.3M 350k 20.87
Lithia Motors (LAD) 0.7 $7.3M 109k 66.46
Global Eagle Acquisition Cor 0.7 $7.2M 456k 15.78
Chuys Hldgs (CHUY) 0.7 $7.2M 167k 43.14
Cynosure 0.7 $7.0M 238k 29.30
ISIS Pharmaceuticals 0.6 $6.7M 156k 43.21
Inphi Corporation 0.6 $6.7M 414k 16.09
Intrexon 0.6 $6.4M 242k 26.29
Apogee Enterprises (APOG) 0.6 $6.3M 190k 33.23
Pacific Premier Ban (PPBI) 0.6 $6.3M 392k 16.14
Proto Labs (PRLB) 0.6 $6.2M 92k 67.67
Rex Energy Corporation 0.6 $5.9M 316k 18.71
Penske Automotive (PAG) 0.6 $5.7M 134k 42.76
Epizyme 0.5 $5.5M 243k 22.77
Macrogenics (MGNX) 0.5 $5.6M 201k 27.83
Black Diamond 0.5 $5.4M 445k 12.23
Guidewire Software (GWRE) 0.5 $5.4M 111k 49.05
Astronics Corporation (ATRO) 0.5 $5.3M 84k 63.41
Carmike Cinemas 0.5 $5.3M 179k 29.86
Rally Software Development 0.5 $5.3M 397k 13.38
Methode Electronics (MEI) 0.5 $5.2M 170k 30.66
Microsemi Corporation 0.5 $5.2M 206k 25.03
Portola Pharmaceuticals 0.5 $5.1M 198k 25.90
Sanchez Energy Corp C ommon stocks 0.5 $5.0M 170k 29.63
Malibu Boats (MBUU) 0.5 $4.8M 217k 22.22
Gray Television (GTN) 0.5 $4.7M 453k 10.37
Neonode 0.4 $4.6M 812k 5.69
Thoratec Corporation 0.4 $4.5M 126k 35.81
Orbcomm 0.4 $4.4M 636k 6.85
Sarepta Therapeutics (SRPT) 0.4 $4.4M 182k 24.03
PDF Solutions (PDFS) 0.4 $4.2M 233k 18.17
Christopher & Banks Corporation (CBKCQ) 0.4 $3.9M 587k 6.61
Neurocrine Biosciences (NBIX) 0.4 $3.8M 239k 16.10
Ldr Hldg 0.4 $3.9M 114k 34.33
Surgical Care Affiliates 0.4 $3.9M 126k 30.75
Independent Bank (IBTX) 0.4 $3.8M 65k 58.75
Saba Software 0.3 $3.6M 299k 12.15
Verastem 0.3 $3.7M 341k 10.79
Chegg (CHGG) 0.3 $3.7M 529k 7.00
Square 1 Financial 0.3 $3.7M 185k 20.10
Texas Capital Bancshares (TCBI) 0.3 $3.2M 49k 64.93
Financial Engines 0.3 $3.2M 64k 50.78
Five Below (FIVE) 0.3 $3.3M 77k 42.47
Tillys (TLYS) 0.3 $3.2M 271k 11.70
Signature Bank (SBNY) 0.3 $3.0M 24k 125.59
Eagle Ban (EGBN) 0.3 $2.8M 77k 36.10
Flagstar Ban 0.3 $2.8M 126k 22.22
Connectone Ban 0.3 $2.9M 58k 48.95
California Republic Ban 0.2 $2.6M 107k 24.80
First Financial 0.2 $2.5M 40k 62.63
Ixia 0.2 $2.4M 189k 12.50
Control4 0.2 $2.4M 112k 21.21
Bankunited (BKU) 0.2 $2.3M 65k 34.76
Everbank Finl 0.2 $2.3M 117k 19.73
TransAct Technologies Incorporated (TACT) 0.2 $2.2M 188k 11.49
Ameris Ban (ABCB) 0.2 $2.2M 94k 23.30
WisdomTree Investments (WT) 0.2 $2.2M 166k 13.12
Inogen (INGN) 0.2 $2.2M 132k 16.51
AtriCure (ATRC) 0.2 $2.1M 113k 18.81
Icad (ICAD) 0.2 $2.1M 225k 9.16
Alerus Finl (ALRS) 0.2 $2.0M 37k 54.95
Peoples Ban (PEBO) 0.2 $2.0M 81k 24.73
Vonage Holdings 0.2 $1.9M 455k 4.27
First Internet Bancorp (INBK) 0.2 $2.0M 87k 22.77
Howard Ban 0.2 $2.0M 178k 11.30
Biosante Pharmaceuticals (ANIP) 0.2 $2.0M 62k 31.34
Tutor Perini Corporation (TPC) 0.2 $1.9M 65k 28.67
Cara Therapeutics (CARA) 0.2 $1.9M 102k 18.61
Ladder Capital Corp Class A (LADR) 0.2 $1.9M 100k 18.88
Home BancShares (HOMB) 0.2 $1.7M 51k 34.43
Auspex Pharmaceuticals 0.2 $1.8M 59k 30.75
BNC Ban 0.2 $1.6M 95k 17.33
Diversified Restaurant Holdi 0.2 $1.7M 331k 5.00
Gsv Cap Corp 0.1 $1.6M 154k 10.14
A10 Networks (ATEN) 0.1 $1.6M 105k 15.04
United Ins Hldgs (ACIC) 0.1 $1.4M 98k 14.61
Hilltop Holdings (HTH) 0.1 $1.4M 57k 23.78
Meta Financial (CASH) 0.1 $1.3M 30k 44.86
First Business Financial Services (FBIZ) 0.1 $1.4M 29k 47.17
Sterling Bancorp 0.1 $1.3M 105k 12.66
First Financial Bankshares (FFIN) 0.1 $1.3M 21k 61.80
PrivateBan 0.1 $1.2M 40k 30.51
Inovio Pharmaceuticals 0.1 $1.2M 367k 3.33
Old Line Bancshares 0.1 $1.3M 74k 17.25
Cu Bancorp Calif 0.1 $1.3M 70k 18.41
Ovascience 0.1 $1.2M 135k 8.94
Vantagesouth Bancshares 0.1 $1.2M 171k 7.03
Heritage Financial Corporation (HFWA) 0.1 $1.1M 66k 16.92
Lakeland Financial Corporation (LKFN) 0.1 $1.1M 28k 40.24
Commercewest Bank Na 0.1 $1.1M 82k 13.60
Apollo Global Management 'a' 0.1 $1.1M 35k 31.80
Tandem Diabetes Care 0.1 $1.2M 52k 22.08
Ultragenyx Pharmaceutical (RARE) 0.1 $1.1M 23k 48.87
Center Ban 0.1 $1.0M 54k 19.00
First of Long Island Corporation (FLIC) 0.1 $1.1M 26k 40.61
Bridge Ban 0.1 $1.0M 39k 26.70
Stonegate Bk Ft Lauderdale 0.1 $1.0M 43k 23.81
Atlantic Coast Financial Cor 0.1 $1.0M 226k 4.49
Investors Ban 0.1 $946k 34k 27.63
Western Alliance Bancorporation (WAL) 0.1 $940k 38k 24.59
Pinnacle Financial Partners (PNFP) 0.1 $911k 24k 37.49
Silvercrest Asset Mgmt Groupcl (SAMG) 0.1 $915k 50k 18.30
Diamond Resorts International 0.1 $912k 54k 16.94
Santander Consumer Usa 0.1 $987k 41k 24.09
Tree 0.1 $841k 27k 31.05
East West Ban (EWBC) 0.1 $848k 23k 36.52
Prosperity Bancshares (PB) 0.1 $799k 12k 66.14
Shore Bancshares (SHBI) 0.1 $799k 84k 9.51
Heritage Oaks Ban 0.1 $861k 107k 8.08
Cascade Bancorp 0.1 $866k 155k 5.60
Elmira Savings Bank 0.1 $886k 36k 24.50
Farmers Natl Banc Corp (FMNB) 0.1 $802k 105k 7.68
Everyday Health 0.1 $874k 63k 13.99
HEICO Corporation (HEI) 0.1 $707k 12k 60.12
Cass Information Systems (CASS) 0.1 $775k 15k 51.59
American Business Bank (AMBZ) 0.1 $783k 26k 30.67
Federated National Holding C 0.1 $733k 40k 18.32
Physicians Realty Trust 0.1 $738k 53k 13.92
Talmer Ban 0.1 $771k 53k 14.63
CapitalSource 0.1 $650k 45k 14.59
athenahealth 0.1 $678k 4.2k 160.28
Independent Bank (INDB) 0.1 $600k 15k 39.34
Independent Bank Corporation (IBCP) 0.1 $649k 50k 12.98
Artisan Partners (APAM) 0.1 $661k 10k 64.27
CenterState Banks 0.1 $527k 48k 10.92
Bryn Mawr Bank 0.1 $525k 18k 28.70
Meridian Interstate Ban 0.1 $531k 21k 25.56
Northeast Bancorp 0.1 $488k 52k 9.35
Regulus Therapeutics 0.1 $558k 62k 9.02
Q2 Holdings (QTWO) 0.1 $546k 35k 15.53
New Home 0.1 $489k 34k 14.23
Washington Banking Company 0.0 $433k 24k 17.78
Renasant (RNST) 0.0 $374k 13k 29.08
KKR & Co 0.0 $416k 18k 22.83
Heritage Financial 0.0 $422k 22k 19.66
Safeguard Scientifics 0.0 $425k 19k 22.18
Mackinac Financial Corporation 0.0 $457k 36k 12.54
Citizens Financial Services (CZFS) 0.0 $416k 7.6k 54.95
Peoples Financial Corporation (PFBX) 0.0 $444k 33k 13.29
First Capital Ban 0.0 $379k 90k 4.20
Atlas Financial Holdings (AFHIF) 0.0 $433k 32k 13.68
First Bank (FRBA) 0.0 $423k 65k 6.50
DiamondRock Hospitality Company (DRH) 0.0 $326k 28k 11.74
Flushing Financial Corporation (FFIC) 0.0 $263k 13k 21.04
BofI Holding 0.0 $277k 3.2k 85.63
Bridge Capital Holdings 0.0 $279k 12k 23.74
Kingstone Companies (KINS) 0.0 $349k 50k 6.98
Home Fed Bancorp Inc La (HFBL) 0.0 $329k 19k 17.76
Guaranty Bancorp Del 0.0 $321k 23k 14.26
Marcus & Millichap (MMI) 0.0 $324k 18k 17.86
Saul Centers (BFS) 0.0 $240k 5.1k 47.43
HopFed Ban 0.0 $187k 16k 11.69
Home Ban (HBCP) 0.0 $245k 12k 20.98
Reis 0.0 $186k 10k 18.03
Southern National Banc. of Virginia 0.0 $210k 21k 10.20
Lpl Financial Holdings (LPLA) 0.0 $239k 4.6k 52.53
Liposcience 0.0 $236k 74k 3.18
Cortland Ban 0.0 $214k 20k 10.74
Bind Therapeutics 0.0 $231k 19k 11.95
Versartis 0.0 $225k 7.5k 30.00
HEALTH INSURANCE Common equity Innovations shares 0.0 $103k 10k 10.30
Communityone Ban 0.0 $156k 14k 11.24
Seacoast Commerce Bank 0.0 $89k 10k 8.90