EMERALD MUTUAL FUND ADVISERS TRUST — 13F Holdings & Portfolio
CIK 1352895 · latest 13F-HR filed 2026-08-05
EMERALD MUTUAL FUND ADVISERS TRUST manages $2.85B in 13F-reported U.S. long-equity assets across 197 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are LFSC (3.17%), TVTX (2.06%), CDNL (1.82%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 28 new positions and exited 30; 117 existing positions rose in reported value and 36 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-05
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- CARDINAL INFRASTRUCTURE GROUP$37.5M +263.4%
- AXCELIS TECHNOLOGIES INC$37.2M +842.0%
- CORCEPT THERAPEUTICS INC$33.2M +458.3%
- TRAVERE THERAPEUTICS INC$30.6M +108.8%
- COHU INC$24.4M +162.9%
Top Trims
- BLOOM ENERGY CO-$47.4M -99.3%
- CREDO TECHNOLOGY GROUP HOLDINGS-$26.7M -94.5%
- BRIDGEBIO PHARMA INC-$22.4M -94.1%
- TTM TECHNOLOGIES INC-$19.2M -42.0%
- MODINE MANUFACTURING CO-$16.1M -31.5%
New Positions
- LEGENCE CORP$36.3M
- SENSIENT TECHNOLOGIES CORP$29.0M
- TEREX CORP NEW$25.8M
- HERC HOLDINGS INC$24.2M
- MAXLINEAR INC CLASS A$23.4M
Exited Positions
- FABRINET$33.9M
- STERLING INFRASTRUCTURE INC$19.9M
- SPX TECHNOLOGIES INC$18.6M
- KALVISTA PHARMACEUTICALS INC$16.2M
- SITIME CORPORATION$14.2M
EMERALD MUTUAL FUND ADVISERS TRUST Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | RBB FD INC | LFSC | 74933W221 | $90.3M | 3.17% | 1,997,035 | SH |
| 2 | TRAVERE THERAPEUTICS INC | TVTX | 89422G107 | $58.6M | 2.06% | 1,032,024 | SH |
| 3 | CARDINAL INFRASTRUCTURE GROUP | CDNL | 14154A102 | $51.7M | 1.82% | 549,297 | SH |
| 4 | MERCURY SYSTEMS INC | MRCY | 589378108 | $50.4M | 1.77% | 412,354 | SH |
| 5 | AAR CORPORATION | AIR | 000361105 | $48.2M | 1.69% | 337,416 | SH |
| 6 | VSE CORPORATION | VSEC | 918284100 | $47.9M | 1.68% | 209,628 | SH |
| 7 | KULICKE AND SOFFA INDUSTRIES | KLIC | 501242101 | $46.7M | 1.64% | 349,295 | SH |
| 8 | ARGAN INC | AGX | 04010E109 | $46.4M | 1.63% | 58,115 | SH |
| 9 | CECO ENVIRONMENTAL CORP | CECO | 125141101 | $42.8M | 1.50% | 471,220 | SH |
| 10 | INTERDIGITAL INC PA COM | IDCC | 45867G101 | $42.0M | 1.48% | 148,255 | SH |
| 11 | SEMTECH CORP | SMTC | 816850101 | $41.7M | 1.46% | 257,359 | SH |
| 12 | AXCELIS TECHNOLOGIES INC | ACLS | 054540208 | $41.6M | 1.46% | 219,443 | SH |
| 13 | ESCO TECHNOLOGIES INC | ESE | 296315104 | $40.8M | 1.43% | 116,457 | SH |
| 14 | GUARDANT HEALTH INC | GH | 40131M109 | $40.7M | 1.43% | 271,380 | SH |
| 15 | LIVANOVA PLC | LIVN | G5509L101 | $40.5M | 1.42% | 492,868 | SH |
| 16 | PLEXUS CORP | PLXS | 729132100 | $40.5M | 1.42% | 134,746 | SH |
| 17 | CORCEPT THERAPEUTICS INC | CORT | 218352102 | $40.4M | 1.42% | 464,902 | SH |
| 18 | PDF SOLUTIONS INC | PDFS | 693282105 | $40.1M | 1.41% | 566,429 | SH |
| 19 | COGENT BIOSCIENCES INC | COGT | 19240Q201 | $39.9M | 1.40% | 1,031,378 | SH |
| 20 | COHU INC | COHU | 192576106 | $39.4M | 1.39% | 533,619 | SH |
| 21 | ALLEGIANT TRAVEL CO | ALGT | 01748X102 | $36.9M | 1.30% | 313,661 | SH |
| 22 | LEGENCE CORP | LGN | 52476L109 | $36.3M | 1.27% | 425,628 | SH |
| 23 | AXOS FINANCIAL INC | AX | 05465C100 | $35.7M | 1.26% | 366,712 | SH |
| 24 | SPYRE THERAPEUTICS | SYRE | 00773J202 | $35.6M | 1.25% | 401,271 | SH |
| 25 | MODINE MANUFACTURING CO | MOD | 607828100 | $35.0M | 1.23% | 131,187 | SH |
| 26 | MIRUM PHARMACEUTICALS INC | MIRM | 604749101 | $33.9M | 1.19% | 289,372 | SH |
| 27 | UMB FINANCIAL CORP | UMBF | 902788108 | $33.6M | 1.18% | 235,696 | SH |
| 28 | SOLARIS ENERGY INFRASTRUCTURE INC | SEI | 83418M103 | $32.6M | 1.15% | 405,313 | SH |
| 29 | BOOT BARN HOLDINGS INC | BOOT | 099406100 | $32.4M | 1.14% | 197,079 | SH |
| 30 | NLIGHT INC | LASR | 65487K100 | $31.2M | 1.10% | 448,422 | SH |
| 31 | RUSH STREET INTERACTIVE INC | RSI | 782011100 | $30.0M | 1.05% | 1,007,943 | SH |
| 32 | AGILYSYS INC | AGYS | 00847J105 | $29.0M | 1.02% | 277,666 | SH |
| 33 | SENSIENT TECHNOLOGIES CORP | SXT | 81725T100 | $29.0M | 1.02% | 235,343 | SH |
| 34 | COMPASS INC | COMP | 20464U100 | $27.0M | 0.95% | 2,185,814 | SH |
| 35 | ASTRONICS CORP | ATRO | 046433108 | $26.6M | 0.93% | 327,295 | SH |
| 36 | TTM TECHNOLOGIES INC | TTMI | 87305R109 | $26.6M | 0.93% | 142,120 | SH |
| 37 | FRESHPET INC | FRPT | 358039105 | $26.4M | 0.93% | 446,119 | SH |
| 38 | LIFETIME GROUP HOLDINGS INC | LTH | 53190C102 | $25.8M | 0.91% | 632,840 | SH |
| 39 | VERADERMICS INC | MANE | 922967104 | $25.8M | 0.91% | 209,924 | SH |
| 40 | TEREX CORP NEW | TEX | 880779103 | $25.8M | 0.91% | 356,029 | SH |
| 41 | FIRST ADVANTAGE CORP | FA | 31846B108 | $25.7M | 0.90% | 1,425,858 | SH |
| 42 | IPG PHOTONICS CORP | IPGP | 44980X109 | $24.7M | 0.87% | 210,791 | SH |
| 43 | NATIONAL VISION HOLDINGS | EYE | 63845R107 | $24.7M | 0.87% | 1,298,228 | SH |
| 44 | BILLIONTOONE INC | BLLN | 090168105 | $24.5M | 0.86% | 203,990 | SH |
| 45 | DIODES INCORPORATED | DIOD | 254543101 | $24.2M | 0.85% | 221,380 | SH |
| 46 | HERC HOLDINGS INC | HRI | 42704L104 | $24.2M | 0.85% | 168,972 | SH |
| 47 | CYTOKENETICS INC | CYTK | 23282W605 | $23.8M | 0.84% | 279,769 | SH |
| 48 | MAXLINEAR INC CLASS A | MXL | 57776J100 | $23.4M | 0.82% | 182,695 | SH |
| 49 | VARONIS SYSTEMS INC | VRNS | 922280102 | $23.3M | 0.82% | 555,882 | SH |
| 50 | TREVI THERAPEUTICS | TRVI | 89532M101 | $22.6M | 0.79% | 1,210,965 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-05 | $2.85B | 197 | 0001104659-26-090961 |
| 2026-03-31 | 2026-05-04 | $2.06B | 199 | 0001104659-26-054904 |
| 2025-12-31 | 2026-02-09 | $2.05B | 189 | 0001104659-26-011929 |
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