EMERALD MUTUAL FUND ADVISERS TRUST

Name: EMERALD MUTUAL FUND ADVISERS TRUST: Form 13F holdings for the quarter ended 2026-06-30
Creator: Listed

An institutional investment manager in LEOLA, PA. Its Form 13F for the quarter ended Jun 30, 2026, filed Aug 5, 2026. SEC CIK 1352895.

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Reported value$2.85bn
Positions197

Holdings: 197 positions

The filing on sec.gov

As filed, largest first. Reported value is what the manager stated for each position at the quarter end, in US dollars; it is filing data, not a price. Weight is the position's share of the total reported value. Changes compare with the 13F for the quarter ended 2026-03-31.

EMERALD MUTUAL FUND ADVISERS TRUST, holdings
Issuer	Class	CUSIP	Reported value$m	Weight	Shares	Change on the quarter before
RBB FD Inc	FM EMERALD LIFE	74933W221	90.3	3.2%	1,997,035	Unchanged
Travere Therapeutics IncTVTX	COM	89422G107	58.6	2.1%	1,032,024	Added+86,991
Cardinal Infrastructure GroupCDNL	COM	14154A102	51.7	1.8%	549,297	Added+190,234
Mercury Systems IncMRCY	COM	589378108	50.4	1.8%	412,354	Added+36,882
AAR CorporationAIR	COM	000361105	48.2	1.7%	337,416	Added+57,159
VSE CorporationVSEC	COM	918284100	47.9	1.7%	209,628	Added+13,713
Kulicke and Soffa IndustriesKLIC	COM	501242101	46.7	1.6%	349,295	Unchanged
Argan IncAGX	COM	04010E109	46.4	1.6%	58,115	Reduced−828
Ceco Environmental CorpCECO	COM	125141101	42.8	1.5%	471,220	Added+157,215
Interdigital Inc Pa ComIDCC	COM	45867G101	42.0	1.5%	148,255	Added+87,579
Semtech CorpSMTC	COM	816850101	41.7	1.5%	257,359	Reduced−27,678
Axcelis Technologies IncACLS	COM	054540208	41.6	1.5%	219,443	Added+172,031
Esco Technologies IncESE	COM	296315104	40.8	1.4%	116,457	Added+17,955
Guardant Health IncGH	COM	40131M109	40.7	1.4%	271,380	Reduced−248,165
Livanova plc	COM	G5509L101	40.5	1.4%	492,868	Added+38,539
Plexus CorpPLXS	COM	729132100	40.5	1.4%	134,746	Added+32,468
Corcept Therapeutics IncCORT	COM	218352102	40.4	1.4%	464,902	Added+285,295
PDF Solutions IncPDFS	COM	693282105	40.1	1.4%	566,429	Reduced−28,181
Cogent Biosciences IncCOGT	COM	19240Q201	39.9	1.4%	1,031,378	Added+2,546
Cohu IncCOHU	COM	192576106	39.4	1.4%	533,619	Added+43,769
Allegiant Travel CoALGT	COM	01748X102	36.9	1.3%	313,661	Added+101,836
Legence CorpLGN	COM	52476L109	36.3	1.3%	425,628	New+425,628
Axos Financial IncAX	COM	05465C100	35.7	1.3%	366,712	Added+29,972
Spyre TherapeuticsSYRE	COM	00773J202	35.6	1.3%	401,271	Reduced−6,842
Modine Manufacturing CoMOD	COM	607828100	35.0	1.2%	131,187	Reduced−104,884
Mirum Pharmaceuticals IncMIRM	COM	604749101	33.9	1.2%	289,372	Added+38,973
UMB Financial CorpUMBF	COM	902788108	33.6	1.2%	235,696	Added+77,079
Solaris Energy Infrastructure IncSEI	COM	83418M103	32.6	1.1%	405,313	Added+90,531
Boot Barn Holdings IncBOOT	COM	099406100	32.4	1.1%	197,079	Added+67,819
Nlight IncLASR	COM	65487K100	31.2	1.1%	448,422	Added+18,650
Rush Street Interactive IncRSI	COM	782011100	30.0	1.1%	1,007,943	Added+26,042
Agilysys IncAGYS	COM	00847J105	29.0	1.0%	277,666	Added+71,809
Sensient Technologies CorpSXT	COM	81725T100	29.0	1.0%	235,343	New+235,343
Compass IncCOMP	COM	20464U100	27.0	0.9%	2,185,814	Added+723,131
Astronics CorpATRO	COM	046433108	26.6	0.9%	327,295	Added+48,136
TTM Technologies IncTTMI	COM	87305R109	26.6	0.9%	142,120	Reduced−327,885
Freshpet IncFRPT	COM	358039105	26.4	0.9%	446,119	Added+145,187
Lifetime Group Holdings IncLTH	COM	53190C102	25.8	0.9%	632,840	Added+277,348
Veradermics IncMANE	COM	922967104	25.8	0.9%	209,924	Added+100,641
Terex Corp NewTEX	COM	880779103	25.8	0.9%	356,029	New+356,029
First Advantage CorpFA	COM	31846B108	25.7	0.9%	1,425,858	Added+753,142
IPG Photonics CorpIPGP	COM	44980X109	24.7	0.9%	210,791	Added+18,334
National Vision HoldingsEYE	COM	63845R107	24.7	0.9%	1,298,228	Added+360,688
Billiontoone IncBLLN	COM	090168105	24.5	0.9%	203,990	Added+71,784
Diodes IncorporatedDIOD	COM	254543101	24.2	0.9%	221,380	Added+107,283
Herc Holdings IncHRI	COM	42704L104	24.2	0.9%	168,972	New+168,972
Cytokenetics IncCYTK	COM	23282W605	23.8	0.8%	279,769	Added+144,305
Maxlinear Inc Class aMXL	COM	57776J100	23.4	0.8%	182,695	New+182,695
Varonis Systems IncVRNS	COM	922280102	23.3	0.8%	555,882	Unchanged
Trevi TherapeuticsTRVI	COM	89532M101	22.6	0.8%	1,210,965	Reduced−51,527
Moelis & CoMC	COM	60786M105	22.4	0.8%	342,465	Unchanged
American Semiconductor CorpAMSC	COM	030111207	22.4	0.8%	538,955	Added+100,080
Ollie'S Bargain Outlet HoldingsOLLI	COM	681116109	22.3	0.8%	290,675	Added+93,202
Tetra TechnologiesTTI	COM	88162F105	22.3	0.8%	1,970,377	Added+329,101
Kratos Defense and SecurityKTOS	COM	50077B207	22.1	0.8%	443,152	Reduced−67,504
Synaptics IncSYNA	COM	87157D109	22.1	0.8%	177,551	Reduced−31,308
Onto Innovation IncONTO	COM	683344105	21.9	0.8%	57,893	Reduced−13,037
RXO IncRXO	COM	74982T103	21.0	0.7%	761,015	Added+485,083
Imax CorpIMAX	COM	45245E109	21.0	0.7%	525,986	Unchanged
Palomar Holdings IncPLMR	COM	69753M105	20.7	0.7%	163,622	Added+352
The Bancorp IncTBBK	COM	05969A105	20.6	0.7%	328,845	Unchanged
Applied Optoelectronics IncAAOI	COM	03823U102	20.3	0.7%	136,959	Reduced−134,801
Transmedics Group IncTMDX	COM	89377M109	20.1	0.7%	302,074	Added+72,748
Palvella Therapeutics IncPVLA	COM	697947109	19.8	0.7%	129,847	Added+24,027
BJ'S Restaurant IncBJRI	COM	09180C106	19.6	0.7%	322,573	Unchanged
Customers Bancorp IncCUBI	COM	23204G100	19.0	0.7%	240,511	Reduced−1,802
Hinge Health IncHNGE	COM	433313103	18.9	0.7%	228,197	Added+46,431
Aerovironment IncAVAV	COM	008073108	18.9	0.7%	114,482	Added+2,075
Rambus IncRMBS	COM	750917106	18.5	0.6%	139,275	Reduced−167,973
Materion CorpMTRN	COM	576690101	18.2	0.6%	61,247	New+61,247
Happen IncHAPN	COM	52603A208	18.1	0.6%	871,131	Added+170,500
Commvault Systems IncCVLT	COM	204166102	17.9	0.6%	126,126	Added+1,893
D-Wave Quantum IncQBTS	COM	26740W109	17.9	0.6%	744,084	Added+385,444
Nektar TherapeuticsNKTR	COM	640268306	17.8	0.6%	255,587	Reduced−519
Arlo TechnologiesARLO	COM	04206A101	17.1	0.6%	1,270,713	Added+14,424
NPK International IncNPKI	COM	651718504	17.1	0.6%	1,074,368	New+1,074,368
Onespaworld Holdings Limited	COM	P73684113	16.9	0.6%	600,025	Unchanged
Bobs Discount FurnitureBOBS	COM	09681N106	16.6	0.6%	1,049,648	Added+284,903
Axsome Therapeutics IncAXSM	COM	05464T104	16.4	0.6%	67,195	Added+141
Piper Sandler CoPIPR	COM	724078209	16.3	0.6%	225,192	Unchanged
Impinj IncPI	COM	453204109	15.9	0.6%	111,287	Unchanged
Mirion Technologies IncMIR	COM	60471A101	15.7	0.6%	873,466	Unchanged
Skyward Specialty InsuranceSKWD	COM	830940102	15.5	0.5%	266,150	Reduced−135,749
Evolv TechnologiesEVLV	COM	30049H102	15.5	0.5%	2,667,589	Unchanged
Radnet IncRDNT	COM	750491102	15.5	0.5%	250,764	Added+167
Savara IncSVRA	COM	805111101	14.6	0.5%	2,375,999	Added+7,330
Seacoast Banking Corporation of FloridaSBCF	COM	811707801	14.4	0.5%	433,797	Added+107,281
Power Integrations IncPOWI	COM	739276103	14.4	0.5%	172,196	Added+110,902
Ambiq Micro IncAMBQ	COM	023193105	14.1	0.5%	159,131	New+159,131
Hims & Hers Health IncHIMS	COM	433000106	13.8	0.5%	398,842	New+398,842
Arhaus IncARHS	COM	04035M102	13.3	0.5%	1,576,486	Added+586,271
Dianthus Therapeutics IncDNTH	COM	252828108	12.8	0.4%	131,018	New+131,018
Coastal Financial CorpCCB	COM	19046P209	12.1	0.4%	156,664	Unchanged
Alamar Biosciences IncALMR	COM	010911105	11.4	0.4%	422,127	New+422,127
Excelerate Energy IncEE	COM	30069T101	11.4	0.4%	299,991	Added+110,826
Alphatec Holdings IncATEC	COM	02081G201	10.9	0.4%	1,258,086	Added+101,260
First Watch Restaurant GroupFWRG	COM	33748L101	10.6	0.4%	823,954	Added+254,536
Lightpath Technologies IncLPTH	COM	532257805	9.9	0.3%	607,882	New+607,882
Trinity Capital IncTRIN	COM	896442308	9.8	0.3%	549,260	Unchanged
Q2 Holdings IncQTWO	COM	74736L109	9.8	0.3%	203,815	Unchanged
Lendingtree IncTREE	COM	52603B107	9.7	0.3%	218,269	Unchanged
Everquote IncEVER	COM	30041R108	9.5	0.3%	397,268	Reduced−14,338
Slide Insurance Holdings IncSLDE	COM	831349105	8.9	0.3%	459,820	Unchanged
Aveanna Healthcare HoldingsAVAH	COM	05356F105	8.3	0.3%	967,108	Reduced−8,811
Corvus Pharmaceuticals IncCRVS	COM	221015100	7.9	0.3%	526,389	Added+67,136
Visteon CorpVC	COM	92839U206	7.5	0.3%	75,500	Added+13,530
Dave IncDAVE	COM	23834J201	7.4	0.3%	19,894	Added+17,416
Whitehawk Minerals CorpWHK	COM	96524T101	7.3	0.3%	263,810	New+263,810
Viridian Therapeutics IncVRDN	COM	92790C104	7.3	0.3%	395,546	New+395,546
Aevex CorpAVEX	COM	00835T107	7.1	0.3%	341,108	New+341,108
Definium Therapeutics IncDFTX	COM	24477V105	5.7	0.2%	121,249	New+121,249
MID Penn Bancorp IncMPB	COM	59540G107	5.7	0.2%	162,411	Unchanged
Ambarella Inc	COM	G037AX101	5.6	0.2%	65,731	New+65,731
First Carolina Financial ServicesFCBM	COM	31943F200	5.5	0.2%	414,090	New+414,090
Astronics Corporation - CL BATRO	COM	046433207	5.0	0.2%	65,459	New+65,459
Flowco Holdings IncFLOC	COM	342909108	4.9	0.2%	231,287	Unchanged
Wave Life Sciences Ltd	COM	Y95308105	4.9	0.2%	847,999	Added+33,470
Wesbanco IncWSBC	COM	950810101	4.7	0.2%	120,647	Added+29,749
United Therapeutics Corp DelUTHR	COM	91307C102	4.3	0.2%	7,928	Reduced−456
Hawkeye 360 IncHAWK	COM	420201105	4.2	0.1%	205,363	New+205,363
Black Rock Coffee BarBRCB	COM	092244102	3.8	0.1%	453,734	Unchanged
Metallus IncMTUS	COM	887399103	3.7	0.1%	196,964	Reduced−40,946
Gbank Financial Holdings IncGBFH	COM	36166F100	3.6	0.1%	118,000	Unchanged
Bowman Consulting Group LtdBWMN	COM	103002101	2.8	<0.1%	95,573	Added+18,040
Heartflow IncHTFL	COM	42238D107	2.8	<0.1%	94,099	Reduced−37,163
Once Upon a FarmOFRM	COM	68237F108	2.7	<0.1%	129,422	Reduced−82,825
Erock IncEROC	COM	296013105	2.6	<0.1%	182,249	New+182,249
ICU Medical IncICUI	COM	44930G107	2.4	<0.1%	16,409	Reduced−3,111
Latham Group IncSWIM	COM	51819L107	2.3	<0.1%	351,654	Reduced−290,900
Esquire Financial HoldingsESQ	COM	29667J101	2.2	<0.1%	18,513	Unchanged
Metropolitan Bank Holding CoMCB	COM	591774104	2.1	<0.1%	21,735	Reduced−1,334
Northeast Bancorp	COM	66405S100	2.1	<0.1%	16,094	Reduced−2,061
Pathward Financial IncCASH	COM	59100U108	1.9	<0.1%	21,450	Unchanged
Twist Bioscience CorpTWST	COM	90184D100	1.9	<0.1%	18,050	Added+200
Neptune Insurance HoldingsNP	COM	64073B103	1.7	<0.1%	55,248	Reduced−27,631
Ceribell IncCBLL	COM	15678C102	1.7	<0.1%	89,348	Added+994
Credo Technology Group Holdings	COM	G25457105	1.6	<0.1%	5,730	Reduced−295,607
Enova InternatiENVA	COM	29357K103	1.5	<0.1%	6,371	Reduced−13,531
Pinnacle Finl Partners IncPNFP	COM	72348N109	1.4	<0.1%	14,343	Unchanged
Wintrust Financial CorpWTFC	COM	97650W108	1.4	<0.1%	8,733	Unchanged
Bridgebio Pharma IncBBIO	COM	10806X102	1.4	<0.1%	18,741	Reduced−301,470
Globus Medical IncGMED	COM	379577208	1.3	<0.1%	16,440	Added+182
QCR Holdings IncQCRH	COM	74727A104	1.3	<0.1%	13,110	Unchanged
Insmed IncINSM	COM	457669307	1.2	<0.1%	11,218	Added+2,988
Robinhood Markets IncHOOD	COM	770700102	1.2	<0.1%	11,694	Reduced−8,182
Waystar Holding CorpWAY	COM	946784105	1.1	<0.1%	55,775	Added+620
Sezzle IncSEZL	COM	78435P105	1.1	<0.1%	6,378	New+6,378
Lumexa Imaging Holdings IncLMRI	COM	550249106	1.1	<0.1%	96,046	Reduced−557,296
Amazon.Com, IncAMZN	COM	023135106	1.1	<0.1%	4,504	New+4,504
Mechanics BancorpMCHB	COM	43785V102	1.0	<0.1%	60,462	Unchanged
Western Alliance BancorpWAL	COM	957638109	0.9	<0.1%	11,471	Unchanged
Forbright IncFRBT	COM	34520K105	0.9	<0.1%	50,000	New+50,000
Oppfi IncOPFI	COM	68386H103	0.9	<0.1%	91,433	New+91,433
Take Two Interactive SoftwareTTWO	COM	874054109	0.9	<0.1%	3,587	Added+904
Figure Technology SolutionsFIGR	COM	349381103	0.9	<0.1%	27,860	Unchanged
Porch Group IncPRCH	COM	733245104	0.8	<0.1%	56,315	Unchanged
Korro Bio IncKRRO	COM	500946108	0.8	<0.1%	63,562	Added+707
East West Bancorp IncEWBC	COM	27579R104	0.8	<0.1%	6,314	Unchanged
MVB Financial CorpMVBF	COM	553810102	0.8	<0.1%	27,293	Unchanged
Finwise BancorpFINW	COM	31813A109	0.8	<0.1%	54,364	Unchanged
Third Coast Bancshares IncTCBX	COM	88422P109	0.8	<0.1%	19,108	Unchanged
Mastec IncMTZ	COM	576323109	0.8	<0.1%	1,853	Added+150
Biogen Idec IncBIIB	COM	09062X103	0.7	<0.1%	3,389	Added+272
Neogenomics IncNEO	COM	64049M209	0.6	<0.1%	43,554	Added+483
Broadcom LtdAVGO	COM	11135F101	0.6	<0.1%	1,675	Added+136
Remitly GlobalRELY	COM	75960P104	0.6	<0.1%	28,159	Unchanged
Starbucks CorpSBUX	COM	855244109	0.6	<0.1%	5,925	Added+2,112
Pagaya Technologies	COM	M7S64L123	0.5	<0.1%	29,648	Reduced−44,992
Mongodb IncMDB	COM	60937P106	0.5	<0.1%	1,591	Added+128
Affirm Holdings IncAFRM	COM	00827B106	0.5	<0.1%	6,520	Unchanged
BWX Technologies IncBWXT	COM	05605H100	0.5	<0.1%	2,651	Added+216
Indie Semiconductor IncINDI	COM	45569U101	0.5	<0.1%	113,971	Added+9,347
BANK7 CorpBSVN	COM	06652N107	0.5	<0.1%	10,435	Unchanged
Everpure IncP	COM	74624M102	0.5	<0.1%	6,454	New+6,454
Five Star BancorpFSBC	COM	33830T103	0.5	<0.1%	10,289	Unchanged
Fair Isaac CorpFICO	COM	303250104	0.5	<0.1%	397	Added+32
Ftai Aviation Ltd	COM	G3730V105	0.5	<0.1%	1,721	Reduced−55
Rocket Companies IncRKT	COM	77311W101	0.4	<0.1%	28,548	Reduced−25,501
Ameris BancorpABCB	COM	03076K108	0.4	<0.1%	4,442	Unchanged
Matthews International Corp CL aMATW	COM	577128101	0.4	<0.1%	14,704	Added+1,201
Untiy Software IncU	COM	91332U101	0.4	<0.1%	13,266	Added+1,086
Invivyd IncIVVD	COM	00534A102	0.4	<0.1%	428,847	Unchanged
Boeing CoBA	COM	097023105	0.4	<0.1%	1,709	Added+136
TSS IncTSSI	COM	87288V101	0.4	<0.1%	28,456	New+28,456
Bloom Energy CoBE	COM	093712107	0.3	<0.1%	1,135	Reduced−351,043
United Bankshares IncUBSI	COM	909907107	0.3	<0.1%	6,277	Unchanged
Private Bancorp of America IncPBAM	COM	74274F100	0.3	<0.1%	3,676	Unchanged
Bowhead Specialty HoldingsBOW	COM	10240L102	0.3	<0.1%	8,914	Unchanged
Pixelworks IncPXLW	COM	72581M404	0.3	<0.1%	40,561	Added+3,324
American Integrity Insurance GroupAII	COM	026948109	0.2	<0.1%	11,624	Reduced−159,805
Ategrity Specialty HoldingsASIC	COM	04681Y103	0.2	<0.1%	7,410	Unchanged
CNB Finl Corp PaCCNE	COM	126128107	0.2	<0.1%	5,156	Unchanged
Ncino IncNCNO	COM	63947X101	0.1	<0.1%	7,612	New+7,612
TWFG IncTWFG	COM	87318A101	0.1	<0.1%	4,900	Unchanged
Perella Weinberg PartnersPWP	COM	71367G102	0.1	<0.1%	5,763	Reduced−616,011
Opendoor Technologies IncOPEN	COM	683712103	0.1	<0.1%	16,576	Unchanged
Sable Offshore CorpSOC	COM	78574H104	0.0	<0.1%	11,337	Added+5,993

Sold out: 30 positions

Held at the end of the quarter before and not reported this quarter.

EMERALD MUTUAL FUND ADVISERS TRUST, positions sold out
Issuer	Class	CUSIP	Weight	Change on the quarter before
Acadia Pharmaceuticals IncACAD	COM	004225108	0.0%	Sold out−16,576
ATI IncATI	COM	01741R102	0.0%	Sold out−93,847
Bitmine Immersion TechnologiesBMNR	COM	09175A206	0.0%	Sold out−11,558
Bullish	COM	G16910120	0.0%	Sold out−5,000
Byrna Technologies IncBYRN	COM	12448X201	0.0%	Sold out−320,151
Carpenter Technology CorpCRS	COM	144285103	0.0%	Sold out−35,876
Chime FinancialCHYM	COM	16935C109	0.0%	Sold out−15,488
Circle Internet GroupCRCL	COM	172573107	0.0%	Sold out−2,282
Coinbase Global IncCOIN	COM	19260Q107	0.0%	Sold out−1,251
Collegium Pharmaceutical IncCOLL	COM	19459J104	0.0%	Sold out−306,074
Fabrinet	COM	G3323L100	0.0%	Sold out−65,010
First Busey CorpBUSE	COM	319383204	0.0%	Sold out−7,000
Five BelowFIVE	COM	33829M101	0.0%	Sold out−47,695
Golar LNG Limited	COM	G9456A100	0.0%	Sold out−9,171
Integer Holdings CorpITGR	COM	45826H109	0.0%	Sold out−16,593
Ionq IncIONQ	COM	46222L108	0.0%	Sold out−277,668
Kalvista Pharmaceuticals Inc	COM	483497103	0.0%	Sold out−805,762
Kinsale Capital Group IncKNSL	COM	49714P108	0.0%	Sold out−533
Lumentum Holdings IncLITE	COM	55024U109	0.0%	Sold out−1,243
Madrigal Pharmaceuticals IncMDGL	COM	558868105	0.0%	Sold out−16,500
Miami InternationalMIAX	COM	59356Q108	0.0%	Sold out−2,500
MP Materials CorpMP	COM	553368101	0.0%	Sold out−6,966
Norwood Financial CorpNWFL	COM	669549107	0.0%	Sold out−25,000
Shopify IncSHOP	COM	82509L107	0.0%	Sold out−4,053
Sitime CorporationSITM	COM	82982T106	0.0%	Sold out−41,170
Skywater Technology Inc	COM	83089J108	0.0%	Sold out−183,263
Soleno Therapeutics Inc	COM	834203309	0.0%	Sold out−200,727
SPX Technologies IncSPXC	COM	78473E103	0.0%	Sold out−93,074
Sterling Infrastructure IncSTRL	COM	859241101	0.0%	Sold out−48,875
Xeris Biopharma Holdings IncXERS	COM	98422E103	0.0%	Sold out−207,543

Source: SEC EDGAR, Form 13F-HR, accession 0001104659-26-090961 (on sec.gov). Last ingested by Listed: Oct 22, 2026, 05:26 ET. Listed shows no prices and gives no investment advice.