13F HOLDINGS REPORT
EMERALD MUTUAL FUND ADVISERS TRUST
Quarter ended Q2 2025 · Filed August 4, 2025 · Accession 0001104659-25-073443
Total Value
$1.64B
Positions
212
Other Managers
0
Confidential Omitted
No
Holdings (212)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | RBB FD INC | 74933W221 | 1,997,035 | $49.2M | 2.99% |
| 2 | CREDO TECHNOLOGY GROUP HOLDINGS | CRDO | 503,856 | $46.7M | 2.84% |
| 3 | AEROVIRONMENT INC | AVAV | 141,826 | $40.4M | 2.46% |
| 4 | KRATOS DEFENSE AND SECURITY | 50077B207 | 847,938 | $39.4M | 2.40% |
| 5 | TRANSMEDICS GROUP INC | TMDX | 255,643 | $34.3M | 2.09% |
| 6 | SOLENO THERAPEUTICS INC | SLNO | 405,651 | $34.0M | 2.07% |
| 7 | TTM TECHNOLOGIES INC | TTMI | 812,551 | $33.2M | 2.02% |
| 8 | PALOMAR HOLDINGS INC | PLMR | 189,780 | $29.3M | 1.78% |
| 9 | BRIDGEBIO PHARMA INC | BBIO | 645,745 | $27.9M | 1.70% |
| 10 | AXOS FINANCIAL INC | AX | 364,026 | $27.7M | 1.69% |
| 11 | VARONIS SYSTEMS INC | VRNS | 542,982 | $27.6M | 1.68% |
| 12 | Q2 HOLDINGS INC | QTWO | 290,974 | $27.2M | 1.66% |
| 13 | RAMBUS INC | RMBS | 416,122 | $26.6M | 1.62% |
| 14 | FABRINET | FN | 85,983 | $25.3M | 1.54% |
| 15 | SKYWARD SPECIALTY INSURANCE | 830940102 | 435,295 | $25.2M | 1.53% |
| 16 | OLLIE'S BARGAIN OUTLET HOLDINGS | 681116109 | 185,623 | $24.5M | 1.49% |
| 17 | RADNET INC | RDNT | 423,546 | $24.1M | 1.47% |
| 18 | VITAL FARMS INC | VITL | 603,874 | $23.3M | 1.42% |
| 19 | LUMENTUM HOLDINGS INC | LITE | 242,087 | $23.0M | 1.40% |
| 20 | INTERDIGITAL INC PA COM | IDCC | 102,400 | $23.0M | 1.40% |
| 21 | GUARDANT HEALTH INC | GH | 415,774 | $21.6M | 1.32% |
| 22 | THE BANCORP INC | TBBK | 366,729 | $20.9M | 1.27% |
| 23 | AGILYSYS INC | AGYS | 182,066 | $20.9M | 1.27% |
| 24 | FRESHPET INC | FRPT | 297,584 | $20.2M | 1.23% |
| 25 | BALDWIN INSURANCE GROUP INC | 05589G102 | 472,351 | $20.2M | 1.23% |
| 26 | NATIONAL VISION HOLDINGS | EYE | 836,359 | $19.2M | 1.17% |
| 27 | SITIME CORPORATION | SITM | 89,197 | $19.0M | 1.16% |
| 28 | MODINE MANUFACTURING CO | 607828100 | 185,570 | $18.3M | 1.11% |
| 29 | VSE CORPORATION | VSECU | 132,416 | $17.3M | 1.06% |
| 30 | TRAVERE THERAPEUTICS INC | TVTX | 1,141,428 | $16.9M | 1.03% |
| 31 | MOELIS & CO | MC | 267,451 | $16.7M | 1.02% |
| 32 | ARLO TECHNOLOGIES | ARLO | 972,501 | $16.5M | 1.00% |
| 33 | MERIT MED SYS INC | 589889104 | 175,732 | $16.4M | 1.00% |
| 34 | COLLEGIUM PHARMACEUTICAL INC | COLL | 550,634 | $16.3M | 0.99% |
| 35 | SHIFT4 PAYMENTS INC | 82452J109 | 159,569 | $15.8M | 0.96% |
| 36 | CARPENTER TECHNOLOGY CORP | CRS | 57,213 | $15.8M | 0.96% |
| 37 | ATI Inc | ATI | 179,255 | $15.5M | 0.94% |
| 38 | LIVANOVA PLC | LIVN | 323,462 | $14.6M | 0.89% |
| 39 | MACOM TECHNOLOGY SOLUTIONS | 55405Y100 | 100,519 | $14.4M | 0.88% |
| 40 | MERCURY SYSTEMS INC | MRCY | 263,218 | $14.2M | 0.86% |
| 41 | BJ'S RESTAURANT INC | BJRI | 316,073 | $14.1M | 0.86% |
| 42 | FIRST ADVANTAGE CORP | FA | 835,917 | $13.9M | 0.85% |
| 43 | SPX TECHNOLOGIES INC | SPXC | 82,750 | $13.9M | 0.85% |
| 44 | BOOT BARN HOLDINGS INC | BOOT | 90,060 | $13.7M | 0.83% |
| 45 | AAR CORPORATION | AIR | 194,240 | $13.4M | 0.81% |
| 46 | UMB FINANCIAL CORP | 902788108 | 121,672 | $12.8M | 0.78% |
| 47 | CLEARWATER ANALYTICS HDS | CWAN | 579,602 | $12.7M | 0.77% |
| 48 | WAVE LIFE SCIENCES LTD | WVE | 1,937,489 | $12.6M | 0.77% |
| 49 | LIFETIME GROUP HOLDINGS INC | LTH | 410,492 | $12.5M | 0.76% |
| 50 | PDF SOLUTIONS INC | PDFS | 581,410 | $12.4M | 0.76% |
| 51 | ONESPAWORLD HOLDINGS LIMITED | OSW | 585,525 | $11.9M | 0.73% |
| 52 | MIRION TECHNOLOGIES INC | MIR | 553,624 | $11.9M | 0.73% |
| 53 | 89BIO INC | 282559103 | 1,145,813 | $11.3M | 0.69% |
| 54 | MADRIGAL PHARMACEUTICALS INC | MDGL | 36,920 | $11.2M | 0.68% |
| 55 | CORCEPT THERAPEUTICS INC | CORT | 150,906 | $11.1M | 0.67% |
| 56 | RUSH STREET INTERACTIVE INC | RSI | 743,189 | $11.1M | 0.67% |
| 57 | MIRUM PHARMACEUTICALS INC | MIRM | 217,542 | $11.1M | 0.67% |
| 58 | ALPHATEC HOLDINGS INC | ATEC | 986,103 | $10.9M | 0.67% |
| 59 | ULTRAGENYX PHARMACEUTICAL INC | RARE | 295,317 | $10.7M | 0.65% |
| 60 | ALLEGIANT TRAVEL CO | ALGT | 193,624 | $10.6M | 0.65% |
| 61 | IMPINJ INC | PI | 94,017 | $10.4M | 0.64% |
| 62 | CHART INDS INC | 16115Q308 | 63,069 | $10.4M | 0.63% |
| 63 | TENABLE HOLDING | 88025T102 | 294,372 | $9.9M | 0.61% |
| 64 | RYMAN HOSPITALITY PROPERTIES | 78377T107 | 99,556 | $9.8M | 0.60% |
| 65 | LIFE360 INC | LIFX | 146,893 | $9.6M | 0.58% |
| 66 | APPLIED OPTOELECTRONICS INC | AAOI | 370,996 | $9.5M | 0.58% |
| 67 | FORMFACTOR INC | FORM | 272,800 | $9.4M | 0.57% |
| 68 | LENDINGTREE INC | TREE | 246,285 | $9.1M | 0.56% |
| 69 | ESCO TECHNOLOGIES INC | ESE | 46,633 | $8.9M | 0.54% |
| 70 | SOLARIS ENERGY INFRASTRUCTURE INC | SEI | 315,972 | $8.9M | 0.54% |
| 71 | EVERQUOTE INC | EVER | 362,967 | $8.8M | 0.53% |
| 72 | KALVISTA PHARMACEUTICALS INC | KALV | 768,972 | $8.7M | 0.53% |
| 73 | PORTILLOS INC | 73642K106 | 731,603 | $8.5M | 0.52% |
| 74 | TRINITY CAPITAL INC | TRINZ | 577,713 | $8.1M | 0.50% |
| 75 | ARHAUS INC | ARHS | 934,333 | $8.1M | 0.49% |
| 76 | STERLING INFRASTRUCTURE INC | STRL | 34,197 | $7.9M | 0.48% |
| 77 | AMERICAN SEMICONDUCTOR CORP | AMSC | 213,914 | $7.8M | 0.48% |
| 78 | SABLE OFFSHORE CORP | SOC | 351,887 | $7.7M | 0.47% |
| 79 | COASTAL FINANCIAL CORP | 19046P209 | 78,995 | $7.7M | 0.47% |
| 80 | ONTO INNOVATION INC | ONTO | 75,385 | $7.6M | 0.46% |
| 81 | IONQ INC | IONQ-WT | 174,725 | $7.5M | 0.46% |
| 82 | INTEGER HOLDINGS CORP | ITGR | 60,339 | $7.4M | 0.45% |
| 83 | COMMVAULT SYSTEMS INC | CVLT | 42,411 | $7.4M | 0.45% |
| 84 | AKERO THERAPEUTCS INC | 00973Y108 | 136,297 | $7.3M | 0.44% |
| 85 | PERELLA WEINBERG PARTNERS | PWP | 367,163 | $7.1M | 0.43% |
| 86 | SKYWATER TECHNOLOGY INC | SKYT | 714,144 | $7.0M | 0.43% |
| 87 | COGENT COMMUNICATIONS HOLDINGS | CCOI | 144,344 | $7.0M | 0.42% |
| 88 | ACADIA PHARMACEUTICALS INC | ACAD | 319,306 | $6.9M | 0.42% |
| 89 | NAPCO SECURITY | 630402105 | 227,852 | $6.8M | 0.41% |
| 90 | RXO INC | RXO | 427,129 | $6.7M | 0.41% |
| 91 | AXSOME THERAPEUTICS INC | AXSM | 63,935 | $6.7M | 0.41% |
| 92 | COGENT BIOSCIENCES INC | COGT | 895,412 | $6.4M | 0.39% |
| 93 | EXCELERATE ENERGY INC | EE | 219,194 | $6.4M | 0.39% |
| 94 | FIVE BELOW | FIVE | 47,695 | $6.3M | 0.38% |
| 95 | BOWHEAD SPECIALTY HOLDINGS | BOW | 161,812 | $6.1M | 0.37% |
| 96 | KULICKE AND SOFFA INDUSTRIES | 501242101 | 173,592 | $6.0M | 0.37% |
| 97 | MARATHON DIGITAL HOLDINGS INC | MARA | 347,214 | $5.4M | 0.33% |
| 98 | ATEGRITY SPECIALTY HOLDINGS | 04681Y103 | 239,964 | $5.2M | 0.31% |
| 99 | D-WAVE QUANTUM INC | QBTS | 350,340 | $5.1M | 0.31% |
| 100 | BLOOM ENERGY CO | BE | 212,002 | $5.1M | 0.31% |
| 101 | SAVARA INC | SVRA | 2,186,404 | $5.0M | 0.30% |
| 102 | SPYRE THERAPEUTICS | SYRE | 329,430 | $4.9M | 0.30% |
| 103 | WESBANCO INC | WSBCO | 140,653 | $4.4M | 0.27% |
| 104 | MID PENN BANCORP INC | MPB | 157,538 | $4.4M | 0.27% |
| 105 | SLIDE INSURANCE HOLDINGS INC | 831349105 | 202,530 | $4.4M | 0.27% |
| 106 | FIRST WATCH RESTAURANT GROUP | FWRG | 258,538 | $4.1M | 0.25% |
| 107 | LATHAM GROUP INC | SWIM | 642,554 | $4.1M | 0.25% |
| 108 | AMERICAN INTEGRITY INSURANCE GROUP | 026948109 | 219,510 | $4.0M | 0.25% |
| 109 | NOVOCURE LTD | NVCR | 219,584 | $3.9M | 0.24% |
| 110 | FIRST FINL BANCSHARES INC | 32020R109 | 101,872 | $3.7M | 0.22% |
| 111 | INFINITY NATURAL RESOURCES | 456941103 | 180,688 | $3.3M | 0.20% |
| 112 | GBANK FINANCIAL HOLDINGS INC | 36166F100 | 87,189 | $3.1M | 0.19% |
| 113 | CADENCE BANK | 12740C103 | 92,703 | $3.0M | 0.18% |
| 114 | OMADA HEALTH INC | OMDA | 161,227 | $3.0M | 0.18% |
| 115 | SPROUT SOCIAL INC | SPT | 133,395 | $2.8M | 0.17% |
| 116 | UTZ BRANDS INC | UTZ | 217,010 | $2.7M | 0.17% |
| 117 | NVIDIA CORPORATION | NVDA | 17,124 | $2.7M | 0.16% |
| 118 | INSMED INC | INSM | 25,424 | $2.6M | 0.16% |
| 119 | METROPOLITAN BANK HOLDING CO | 591774104 | 35,673 | $2.5M | 0.15% |
| 120 | ZEVIA PBC | ZVIA | 761,700 | $2.5M | 0.15% |
| 121 | BIOHAVEN LTD | BHVN | 172,999 | $2.4M | 0.15% |
| 122 | PROFICIENT AUTO LOGISTICS INC | PAL | 323,289 | $2.3M | 0.14% |
| 123 | NORTHEAST BANCORP | 66405S100 | 24,238 | $2.2M | 0.13% |
| 124 | MICROSOFT CORP | MSFT | 4,108 | $2.0M | 0.12% |
| 125 | MECHANICS BANK RICHMOND CA | 583614102 | 53 | $1.9M | 0.12% |
| 126 | CERIBELL INC | CBLL | 98,185 | $1.8M | 0.11% |
| 127 | ESQUIRE FINANCIAL HOLDINGS | 29667J101 | 17,640 | $1.7M | 0.10% |
| 128 | WINTRUST FINANCIAL CORP | 97650W108 | 13,020 | $1.6M | 0.10% |
| 129 | LOUISIANA-PACIFIC CORPORATION | LPX | 18,096 | $1.6M | 0.09% |
| 130 | BOWMAN CONSULTING GROUP LTD | BWMN | 50,357 | $1.4M | 0.09% |
| 131 | PINNACLE FINL PARTNERS INC | 72346Q104 | 12,883 | $1.4M | 0.09% |
| 132 | WESTERN ALLIANCE BANCORP | WAL-PA | 17,931 | $1.4M | 0.09% |
| 133 | PATHWARD FINANCIAL INC | CASH | 16,572 | $1.3M | 0.08% |
| 134 | FINWISE BANCORP | FINW | 85,424 | $1.3M | 0.08% |
| 135 | AMAZON.COM, INC | AMZN | 5,684 | $1.2M | 0.08% |
| 136 | NORWOOD FINANCIAL CORP | NWFL | 47,500 | $1.2M | 0.07% |
| 137 | KINSALE CAPITAL GROUP INC | 49714P108 | 2,492 | $1.2M | 0.07% |
| 138 | APPLE INC | AAPL | 5,639 | $1.2M | 0.07% |
| 139 | META PLATFORMS INC | META | 1,483 | $1.1M | 0.07% |
| 140 | RENASANT CORP | RNST | 29,782 | $1.1M | 0.07% |
| 141 | BROADCOM LTD | AVGO | 3,596 | $991,237 | 0.06% |
| 142 | CNB FINL CORP PA | 126128107 | 42,886 | $980,374 | 0.06% |
| 143 | OLD NATL BANCORP IND | 680033107 | 45,755 | $976,412 | 0.06% |
| 144 | ALPHABET INC CLA A | GOOG | 5,302 | $934,371 | 0.06% |
| 145 | FLOWCO HOLDINGS INC | FLOC | 51,059 | $909,361 | 0.06% |
| 146 | QCR HOLDINGS INC | QCRH | 13,110 | $890,169 | 0.05% |
| 147 | GLOBUS MEDICAL INC | GMED | 13,656 | $805,977 | 0.05% |
| 148 | BURKE & HERBERT FINANCIAL | 12135Y108 | 13,080 | $781,268 | 0.05% |
| 149 | VERITEX HOLDINGS INC | 923451108 | 28,953 | $755,673 | 0.05% |
| 150 | UNITED THERAPEUTICS CORP DEL | UTHR | 2,580 | $741,363 | 0.05% |
| 151 | UNITED BANKSHARES INC | UNTCW | 20,108 | $732,534 | 0.04% |
| 152 | SOUTHSTATE CORP | SSB | 7,930 | $729,798 | 0.04% |
| 153 | PORCH GROUP INC | PRCH | 54,906 | $647,342 | 0.04% |
| 154 | EAST WEST BANCORP INC | EWBC | 6,314 | $637,588 | 0.04% |
| 155 | THIRD COAST BANCSHARES INC | TCBX | 19,108 | $624,258 | 0.04% |
| 156 | ROBINHOOD MARKETS INC | 770700102 | 6,410 | $600,168 | 0.04% |
| 157 | CONNECTONE BANCORP INC | CNOBP | 25,356 | $587,245 | 0.04% |
| 158 | LINKBANCORP INC | LNKB | 76,139 | $556,576 | 0.03% |
| 159 | COMMUNITY HERITAGE FINANCIAL INC | 20370L103 | 20,772 | $529,686 | 0.03% |
| 160 | FULTON FINL CORP PA | 360271100 | 29,189 | $526,570 | 0.03% |
| 161 | SELECTIVE INSURANCE GROUP INC | 816300107 | 6,059 | $525,012 | 0.03% |
| 162 | FIVE STAR BANCORP | FSBC | 18,040 | $514,862 | 0.03% |
| 163 | FIRST BUSEY CORP | BUSEP | 21,123 | $483,400 | 0.03% |
| 164 | BYLINE BANCORP INC | BY | 16,270 | $434,897 | 0.03% |
| 165 | NETFLIX INC | NFLX | 318 | $425,843 | 0.03% |
| 166 | ORTHOFIX MEDICAL INC | OFIX | 37,625 | $419,519 | 0.03% |
| 167 | ATLANTIC UNION BANKSHARES CORP | 04911A107 | 12,574 | $393,315 | 0.02% |
| 168 | CARTER BANCSHARES INC | CARE | 22,070 | $382,694 | 0.02% |
| 169 | COMMUNITY WEST BANCSHARES | CWBC | 19,168 | $373,968 | 0.02% |
| 170 | SUPER MICRO COMPUTER INC | SMCI | 7,265 | $356,058 | 0.02% |
| 171 | HOMESTREET INC | MCHB | 25,572 | $334,226 | 0.02% |
| 172 | COMPASS INC | COMP | 51,103 | $320,927 | 0.02% |
| 173 | TJX COS. | 872540109 | 2,526 | $311,936 | 0.02% |
| 174 | CHENIERE ENERGY INC | LNG | 1,252 | $304,887 | 0.02% |
| 175 | AMERIS BANCORP | ABCB | 4,442 | $287,397 | 0.02% |
| 176 | COINBASE GLOBAL INC | COIN | 792 | $277,588 | 0.02% |
| 177 | ELI LILLY & CO | LLY | 338 | $263,481 | 0.02% |
| 178 | SHOPIFY INC | SHOP | 2,206 | $254,462 | 0.02% |
| 179 | VISA INC-CLASS A | V | 703 | $249,600 | 0.02% |
| 180 | COSTCO WHOLESALE CORP | 22160K105 | 249 | $246,495 | 0.02% |
| 181 | TETRA TECHNOLOGIES | 88162F105 | 68,925 | $231,588 | 0.01% |
| 182 | PALO ALTO NETWORKS, INC | PANW | 1,078 | $220,602 | 0.01% |
| 183 | NORWEGIAN CRUISE LINE HOLDINGS LTD | NCLH | 10,597 | $214,907 | 0.01% |
| 184 | FTAI AVIATION LTD | FTAIN | 1,852 | $213,054 | 0.01% |
| 185 | SERVICENOW INC | NOW | 205 | $210,756 | 0.01% |
| 186 | PRIVATE BANCORP OF AMERICA INC | 74274F100 | 3,676 | $199,313 | 0.01% |
| 187 | MURAL ONCOLOGY PLC | G63365103 | 77,567 | $191,590 | 0.01% |
| 188 | FIFTH THIRD BANCORP | FITBM | 4,530 | $186,319 | 0.01% |
| 189 | 1ST MERCHANTS | FRMEP | 4,767 | $182,576 | 0.01% |
| 190 | MASTEC INC | MTZ | 1,033 | $176,054 | 0.01% |
| 191 | DOORDASH INC | DASH | 710 | $175,022 | 0.01% |
| 192 | GENIUS SPORTS LIMITED | GENI | 16,642 | $173,077 | 0.01% |
| 193 | TWFG INC | TWFG | 4,900 | $171,500 | 0.01% |
| 194 | TESLA MOTORS, INC | TSLA | 509 | $161,689 | 0.01% |
| 195 | TAKE TWO INTERACTIVE SOFTWARE | TTWO | 636 | $154,453 | 0.01% |
| 196 | ORACLE SYS CORP | ORCL-PD | 657 | $143,640 | 0.01% |
| 197 | SEACOAST BANKING CORPORATION OF FLORIDA | SE | 4,680 | $129,262 | 0.01% |
| 198 | MONGODB INC | MDB | 609 | $127,884 | 0.01% |
| 199 | INDIE SEMICONDUCTOR INC | INDI | 33,547 | $119,427 | 0.01% |
| 200 | BROOKLINE BANCORP INC | 11373M107 | 10,923 | $115,238 | 0.01% |
| 201 | CHIME FINANCIAL | 16935C109 | 3,274 | $112,986 | 0.01% |
| 202 | TECHNIPFMC PLC | FTI | 3,127 | $107,694 | 0.01% |
| 203 | DATADOG INC | DDOG | 766 | $102,897 | 0.01% |
| 204 | AUTOZONE INC | AZO | 27 | $100,230 | 0.01% |
| 205 | DIME COMMUNITY BANCSHARES INC | 25432X102 | 3,610 | $97,253 | 0.01% |
| 206 | CORE SCIENTIFIC INC | 21874A106 | 5,282 | $90,164 | 0.01% |
| 207 | GOLAR LNG LIMITED | GLNG | 1,800 | $74,142 | 0.00% |
| 208 | BWX TECHNOLOGIES INC | BWXT | 504 | $72,606 | 0.00% |
| 209 | PALANTIR TECHNOLOGIES INC | PLTR | 517 | $70,477 | 0.00% |
| 210 | CIRCLE INTERNET GROUP | CRCL | 287 | $52,030 | 0.00% |
| 211 | ALKAMI TECHNOLOGY INC | ALKT | 1,613 | $48,616 | 0.00% |
| 212 | DUOLINGO INC CL A | DUOL | 98 | $40,182 | 0.00% |