EMERALD MUTUAL FUND ADVISERS TRUST — 13F Holdings & Portfolio
CIK 1352895 · latest 13F-HR filed 2026-05-04
EMERALD MUTUAL FUND ADVISERS TRUST manages $2.06B in 13F-reported U.S. long-equity assets across 199 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are LFSC (3.39%), MOD (2.48%), GH (2.33%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 24 new positions, exited 14, added to 61, and trimmed 87.
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.
$2.06B
Long-equity book
199
Distinct positions
2026-03-31
Filed 2026-05-04
+24 / −14 / ↑61 / ↓87
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- MODINE MANUFACTURING CO$19.7M +62.8%
- BLOOM ENERGY CO$17.2M +56.3%
- ARGAN INC$13.6M +73.8%
- IPG PHOTONICS CORP$13.3M +152.0%
- ASTRONICS CORP$10.1M +119.1%
Top Trims
- LUMENTUM HOLDINGS INC-$31.2M -97.3%
- WAVE LIFE SCIENCES LTD-$18.1M -75.4%
- CREDO TECHNOLOGY GROUP HOLDINGS-$14.2M -33.4%
- ACADIA PHARMACEUTICALS INC-$12.6M -97.1%
- Q2 HOLDINGS INC-$10.7M -52.6%
New Positions
- PLEXUS CORP$20.7M
- PIPER SANDLER CO$17.2M
- COHU INC$15.0M
- PALVELLA THERAPEUTICS INC$13.2M
- BOBS DISCOUNT FURNITURE$9.0M
Exited Positions
- VITAL FARMS INC$22.3M
- PIPER SANDLER CO$16.7M
- SHIFT4 PAYMENTS INC$10.4M
- MERIT MED SYS INC$9.3M
- HIMS & HERS HEALTH INC$4.8M
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 | $69.9M | 3.39% | 1,997,035 | SH |
| 2 | MODINE MANUFACTURING CO | MOD | 607828100 | $51.2M | 2.48% | 236,071 | SH |
| 3 | GUARDANT HEALTH INC | GH | 40131M109 | $48.0M | 2.33% | 519,545 | SH |
| 4 | BLOOM ENERGY CO | BE | 093712107 | $47.7M | 2.31% | 352,178 | SH |
| 5 | TTM TECHNOLOGIES INC | TTMI | 87305R109 | $45.8M | 2.22% | 470,005 | SH |
| 6 | COGENT BIOSCIENCES INC | COGT | 19240Q201 | $39.6M | 1.92% | 1,028,832 | SH |
| 7 | VSE CORPORATION | VSEC | 918284100 | $36.1M | 1.75% | 195,915 | SH |
| 8 | KRATOS DEFENSE AND SECURITY | KTOS | 50077B207 | $36.0M | 1.75% | 510,656 | SH |
| 9 | FABRINET | FN | G3323L100 | $33.9M | 1.64% | 65,010 | SH |
| 10 | ARGAN INC | AGX | 04010E109 | $32.1M | 1.56% | 58,943 | SH |
| 11 | AAR CORPORATION | AIR | 000361105 | $30.7M | 1.49% | 280,257 | SH |
| 12 | LIVANOVA PLC | LIVN | G5509L101 | $28.9M | 1.40% | 454,329 | SH |
| 13 | AXOS FINANCIAL INC | AX | 05465C100 | $28.7M | 1.39% | 336,740 | SH |
| 14 | CREDO TECHNOLOGY GROUP HOLDINGS | CRDO | G25457105 | $28.3M | 1.37% | 301,337 | SH |
| 15 | TRAVERE THERAPEUTICS INC | TVTX | 89422G107 | $28.1M | 1.36% | 945,033 | SH |
| 16 | ESCO TECHNOLOGIES INC | ESE | 296315104 | $27.7M | 1.34% | 98,502 | SH |
| 17 | MERCURY SYSTEMS INC | MRCY | 589378108 | $27.4M | 1.33% | 375,472 | SH |
| 18 | RAMBUS INC | RMBS | 750917106 | $26.4M | 1.28% | 307,248 | SH |
| 19 | NLIGHT INC | LASR | 65487K100 | $24.5M | 1.19% | 429,772 | SH |
| 20 | NATIONAL VISION HOLDINGS | EYE | 63845R107 | $24.3M | 1.18% | 937,540 | SH |
| 21 | BRIDGEBIO PHARMA INC | BBIO | 10806X102 | $23.8M | 1.15% | 320,211 | SH |
| 22 | MIRUM PHARMACEUTICALS INC | MIRM | 604749101 | $23.1M | 1.12% | 250,399 | SH |
| 23 | APPLIED OPTOELECTRONICS INC | AAOI | 03823U102 | $23.0M | 1.12% | 271,760 | SH |
| 24 | KULICKE AND SOFFA INDUSTRIES | KLIC | 501242101 | $23.0M | 1.11% | 349,295 | SH |
| 25 | TRANSMEDICS GROUP INC | TMDX | 89377M109 | $22.8M | 1.11% | 229,326 | SH |
| 26 | IPG PHOTONICS CORP | IPGP | 44980X109 | $22.1M | 1.07% | 192,457 | SH |
| 27 | SEMTECH CORP | SMTC | 816850101 | $21.9M | 1.06% | 285,037 | SH |
| 28 | RUSH STREET INTERACTIVE INC | RSI | 782011100 | $21.4M | 1.04% | 981,901 | SH |
| 29 | PLEXUS CORP | PLXS | 729132100 | $20.7M | 1.00% | 102,278 | SH |
| 30 | SPYRE THERAPEUTICS | SYRE | 00773J202 | $20.6M | 1.00% | 408,113 | SH |
| 31 | AEROVIRONMENT INC | AVAV | 008073108 | $20.6M | 1.00% | 112,407 | SH |
| 32 | IMAX CORP | IMAX | 45245E109 | $20.0M | 0.97% | 525,986 | SH |
| 33 | STERLING INFRASTRUCTURE INC | STRL | 859241101 | $19.9M | 0.97% | 48,875 | SH |
| 34 | MOELIS & CO | MC | 60786M105 | $19.5M | 0.95% | 342,465 | SH |
| 35 | PALOMAR HOLDINGS INC | PLMR | 69753M105 | $19.5M | 0.95% | 163,270 | SH |
| 36 | PDF SOLUTIONS INC | PDFS | 693282105 | $19.4M | 0.94% | 594,610 | SH |
| 37 | BOOT BARN HOLDINGS INC | BOOT | 099406100 | $18.9M | 0.92% | 129,260 | SH |
| 38 | CECO ENVIRONMENTAL CORP | CECO | 125141101 | $18.7M | 0.91% | 314,005 | SH |
| 39 | ASTRONICS CORP | ATRO | 046433108 | $18.6M | 0.90% | 279,159 | SH |
| 40 | SPX TECHNOLOGIES INC | SPXC | 78473E103 | $18.6M | 0.90% | 93,074 | SH |
| 41 | NEKTAR THERAPEUTICS | NKTR | 640268306 | $18.4M | 0.89% | 256,106 | SH |
| 42 | INTERDIGITAL INC PA COM | IDCC | 45867G101 | $18.3M | 0.89% | 60,676 | SH |
| 43 | OLLIE'S BARGAIN OUTLET HOLDINGS | OLLI | 681116109 | $18.2M | 0.88% | 197,473 | SH |
| 44 | UMB FINANCIAL CORP | UMBF | 902788108 | $17.9M | 0.87% | 158,617 | SH |
| 45 | ARLO TECHNOLOGIES | ARLO | 04206A101 | $17.9M | 0.87% | 1,256,289 | SH |
| 46 | SOLARIS ENERGY INFRASTRUCTURE INC | SEI | 83418M103 | $17.8M | 0.86% | 314,782 | SH |
| 47 | FRESHPET INC | FRPT | 358039105 | $17.7M | 0.86% | 300,932 | SH |
| 48 | THE BANCORP INC | TBBK | 05969A105 | $17.7M | 0.86% | 328,845 | SH |
| 49 | SKYWARD SPECIALTY INSURANCE | SKWD | 830940102 | $17.6M | 0.85% | 401,899 | SH |
| 50 | PIPER SANDLER CO | PIPR | 724078209 | $17.2M | 0.84% | 225,192 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-04 | $2.06B | 199 | 0001104659-26-054904 |
| 2025-12-31 | 2026-02-09 | $2.05B | 189 | 0001104659-26-011929 |