Emerald Mutual Fund Advisers Trust
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 5, 2026), Emerald Mutual Fund Advisers Trust reported 197 stock positions worth $2.8 billion. Its top holding was F/M Emr Life Sciences in ETF (LFSC) at 3.2% of the portfolio, followed by Travere Therapeutics (TVTX, 2.1%) and Cardinal Infrastructure GR-A (CDNL, 1.8%). Compared with Q1 2026, it opened 28 new positions, sold out of 30, added to 84 and reduced 38. The biggest buy was a new position in Legence Class A (LGN) and the biggest sale Bloom Energy Class A (BE, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- LEOLA, PA
- CIK
- 0001352895
- Portfolio Value
- $2.8B (Q2 2026)
- SEC Filing
- 0001104659-26-090961 ↗ filed Aug 5, 2026
Holdings Value
Holdings 197 stocks · $2.8B
| LFSC F/M Emr Life Sciences in ETF | 3.17% | 1,997,035 | $90.3M | No change |
| TVTX Travere Therapeutics Inc. | 2.06% | 1,032,024 | $58.6M | Add +9.2% |
| CDNL Cardinal Infrastructure GR-A | 1.82% | 549,297 | $51.7M | Add +53.0% |
| MRCY Mercury Systems Inc. | 1.77% | 412,354 | $50.4M | Add +9.8% |
| AIR Aar Corp. | 1.69% | 337,416 | $48.2M | Add +20.4% |
| VSEC Vse Corp. | 1.68% | 209,628 | $47.9M | Add +7.0% |
| KLIC Kulicke & Soffa Industries | 1.64% | 349,295 | $46.7M | No change |
| AGX Argan Inc. | 1.63% | 58,115 | $46.4M | Reduce -1.4% |
| CECO Ceco Environmental Corp. | 1.50% | 471,220 | $42.8M | Add +50.1% |
| IDCC Interdigital Inc. | 1.48% | 148,255 | $42.0M | Add +144.3% |
| SMTC Semtech Corp. | 1.46% | 257,359 | $41.7M | Reduce -9.7% |
| ACLS Axcelis Technologies Inc. | 1.46% | 219,443 | $41.6M | Add +362.8% |
| ESE Esco Technologies Inc. | 1.43% | 116,457 | $40.8M | Add +18.2% |
| GH Guardant Health Inc. | 1.43% | 271,380 | $40.7M | Reduce -47.8% |
| LIVN Livanova PLC | 1.42% | 492,868 | $40.5M | Add +8.5% |
| PLXS Plexus Corp. | 1.42% | 134,746 | $40.5M | Add +31.7% |
| CORT Corcept Therapeutics Inc. | 1.42% | 464,902 | $40.4M | Add +158.8% |
| PDFS PDF Solutions Inc. | 1.41% | 566,429 | $40.1M | Reduce -4.7% |
| COGT Cogent Biosciences Inc. | 1.40% | 1,031,378 | $39.9M | Add +0.3% |
| COHU Cohu Inc. | 1.39% | 533,619 | $39.4M | Add +8.9% |
| ALGT Allegiant Travel Co. | 1.30% | 313,661 | $36.9M | Add +48.1% |
| LGN Legence Corp. Class A | 1.27% | 425,628 | $36.3M | New |
| AX Axos Financial Inc. | 1.25% | 366,712 | $35.7M | Add +8.9% |
| SYRE Spyre Therapeutics Inc. | 1.25% | 401,271 | $35.6M | Reduce -1.7% |
| MOD Modine Manufacturing Co. | 1.23% | 131,187 | $35.0M | Reduce -44.4% |
| MIRM Mirum Pharmaceuticals Inc. | 1.19% | 289,372 | $33.9M | Add +15.6% |
| UMBF Umb Financial Corp. | 1.18% | 235,696 | $33.6M | Add +48.6% |
| SEI Solaris Energy Infrastructur | 1.15% | 405,313 | $32.6M | Add +28.8% |
| BOOT Boot Barn Holdings Inc. | 1.14% | 197,079 | $32.4M | Add +52.5% |
| LASR Nlight Inc. | 1.10% | 448,422 | $31.2M | Add +4.3% |
| RSI Rush Street Interactive Inc. | 1.05% | 1,007,943 | $30.0M | Add +2.6% |
| AGYS Agilysys Inc. | 1.02% | 277,666 | $29.0M | Add +34.9% |
| SXT Sensient Technologies Corp. | 1.02% | 235,343 | $29.0M | New |
| COMP Compass Inc. Class A | 0.95% | 2,185,814 | $27.0M | Add +49.4% |
| ATRO Astronics Corp. | 0.93% | 327,295 | $26.6M | Add +17.2% |
| TTMI TTM Technologies | 0.93% | 142,120 | $26.6M | Reduce -69.8% |
| FRPT Freshpet Inc. | 0.93% | 446,119 | $26.4M | Add +48.3% |
| LTH Life Time Group Holdings Inc. | 0.91% | 632,840 | $25.8M | Add +78.0% |
| MANE Veradermics Inc. | 0.91% | 209,924 | $25.8M | Add +92.1% |
| TEX Terex Corp. | 0.91% | 356,029 | $25.8M | New |
| FA First Advantage Corp. | 0.90% | 1,425,858 | $25.7M | Add +112.0% |
| IPGP Ipg Photonics Corp. | 0.87% | 210,791 | $24.7M | Add +9.5% |
| EYE National Vision Holdings Inc. | 0.87% | 1,298,228 | $24.7M | Add +38.5% |
| BLLN Billiontoone Inc. Class A | 0.86% | 203,990 | $24.5M | Add +54.3% |
| DIOD Diodes Inc. | 0.85% | 221,380 | $24.2M | Add +94.0% |
| HRI Herc Holdings Inc. filed as HERC HLDGS INC | 0.85% | 168,972 | $24.2M | New |
| CYTK Cytokinetics Inc. | 0.84% | 279,769 | $23.8M | Add +106.5% |
| MXL Maxlinear Inc. | 0.82% | 182,695 | $23.4M | New |
| VRNS Varonis Systems Inc. | 0.82% | 555,882 | $23.3M | No change |
| TRVI Trevi Therapeutics Inc. | 0.79% | 1,210,965 | $22.6M | Reduce -4.1% |
| MC Moelis & Co. Class A | 0.79% | 342,465 | $22.4M | No change |
| AMSC American Superconductor Corp. | 0.79% | 538,955 | $22.4M | Add +22.8% |
| OLLI Ollie's Bargain Outlet Holdi | 0.79% | 290,675 | $22.3M | Add +47.2% |
| TTI Tetra Technologies Inc. | 0.78% | 1,970,377 | $22.3M | Add +20.1% |
| KTOS Kratos Defense & Security | 0.78% | 443,152 | $22.1M | Reduce -13.2% |
| SYNA Synaptics Inc. | 0.78% | 177,551 | $22.1M | Reduce -15.0% |
| ONTO Onto Innovation Inc. | 0.77% | 57,893 | $21.9M | Reduce -18.4% |
| RXO Rxo Inc. | 0.74% | 761,015 | $21.0M | Add +175.8% |
| IMAX Imax Corp. | 0.74% | 525,986 | $21.0M | No change |
| PLMR Palomar Holdings Inc. | 0.73% | 163,622 | $20.7M | Add +0.2% |
| TBBK The Bancorp Inc. | 0.72% | 328,845 | $20.6M | No change |
| AAOI Applied Optoelectronics Inc. | 0.71% | 136,959 | $20.3M | Reduce -49.6% |
| TMDX Transmedics Group Inc. | 0.71% | 302,074 | $20.1M | Add +31.7% |
| PVLA Palvella Therapeutics Inc. | 0.70% | 129,847 | $19.8M | Add +22.7% |
| BJRI Bj's Restaurants Inc. | 0.69% | 322,573 | $19.6M | No change |
| CUBI Customers Bancorp Inc. | 0.67% | 240,511 | $19.0M | Reduce -0.7% |
| HNGE Hinge Health Inc. Class A | 0.67% | 228,197 | $18.9M | Add +25.5% |
| AVAV Aerovironment Inc. | 0.66% | 114,482 | $18.9M | Add +1.9% |
| RMBS Rambus Inc. | 0.65% | 139,275 | $18.5M | Reduce -54.7% |
| MTRN Materion Corp. | 0.64% | 61,247 | $18.2M | New |
| HAPN Happen Inc. | 0.63% | 871,131 | $18.1M | Add +24.3% |
| CVLT Commvault Systems Inc. | 0.63% | 126,126 | $17.9M | Add +1.5% |
| QBTS D-Wave Quantum Inc. | 0.63% | 744,084 | $17.9M | Add +107.5% |
| NKTR Nektar Therapeutics | 0.63% | 255,587 | $17.8M | Reduce -0.2% |
| ARLO Arlo Technologies Inc. | 0.60% | 1,270,713 | $17.1M | Add +1.1% |
| NPKI NPK International Inc. | 0.60% | 1,074,368 | $17.1M | New |
| OSW Onespaworld Holdings Ltd. | 0.60% | 600,025 | $16.9M | No change |
| BOBS Bob's Discount Furniture | 0.58% | 1,049,648 | $16.6M | Add +37.3% |
| AXSM Axsome Therapeutics Inc. | 0.58% | 67,195 | $16.4M | Add +0.2% |
| PIPR Piper Sandler Cos | 0.57% | 225,192 | $16.3M | No change |
| PI Impinj Inc. | 0.56% | 111,287 | $15.9M | No change |
| MIR Mirion Technologies Inc. | 0.55% | 873,466 | $15.7M | No change |
| SKWD Skyward Specialty Insurance | 0.55% | 266,150 | $15.5M | Reduce -33.8% |
| EVLV Evolv Technologies Holdings | 0.54% | 2,667,589 | $15.5M | No change |
| RDNT Radnet Inc. | 0.54% | 250,764 | $15.5M | Add +0.1% |
| SVRA Savara Inc. | 0.51% | 2,375,999 | $14.6M | Add +0.3% |
| SBCF Seacoast Banking Corp. | 0.51% | 433,797 | $14.4M | Add +32.9% |
| POWI Power Integrations Inc. | 0.51% | 172,196 | $14.4M | Add +180.9% |
| AMBQ Ambiq Micro Inc. | 0.49% | 159,131 | $14.1M | New |
| HIMS Hims & Hers Health Inc. | 0.49% | 398,842 | $13.8M | New |
| ARHS Arhaus Inc. | 0.47% | 1,576,486 | $13.3M | Add +59.2% |
| DNTH Dianthus Therapeutics Inc. | 0.45% | 131,018 | $12.8M | New |
| CCB Coastal Financial Corp. | 0.43% | 156,664 | $12.1M | No change |
| ALMR Alamar Biosciences Inc. | 0.40% | 422,127 | $11.4M | New |
| EE Excelerate Energy Inc. Class A | 0.40% | 299,991 | $11.4M | Add +58.6% |
| ATEC Alphatec Holdings Inc. | 0.38% | 1,258,086 | $10.9M | Add +8.8% |
| FWRG First Watch Restaurant Group | 0.37% | 823,954 | $10.6M | Add +44.7% |
| LPTH Lightpath Technologies Inc. Class A | 0.35% | 607,882 | $9.9M | New |
| TRIN Trinity Capital Inc. | 0.35% | 549,260 | $9.8M | No change |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 0.34% | 203,815 | $9.8M | No change |
Portfolio Sells Q1 2026 → Q2 2026
| BE Bloom Energy Corp. Class A | Reduce -99.7% | 0.01% | −2.30 |
| FN Fabrinet | Sold out | 0.00% | −1.64 |
| CRDO Credo Technology Group Holdi | Reduce -98.1% | 0.05% | −1.32 |
| TTMI TTM Technologies | Reduce -69.8% | 0.93% | −1.29 |
| MOD Modine Manufacturing Co. | Reduce -44.4% | 1.23% | −1.25 |
| BBIO Bridgebio Pharma Inc. | Reduce -94.2% | 0.05% | −1.10 |
| KTOS Kratos Defense & Security | Reduce -13.2% | 0.78% | −0.97 |
| STRL Sterling Infrastructure Inc. | Sold out | 0.00% | −0.97 |
| SPXC SPX Technologies Inc. | Sold out | 0.00% | −0.90 |
| GH Guardant Health Inc. | Reduce -47.8% | 1.43% | −0.90 |
| KALV Kalvista Pharmaceuticals Inc. | Sold out | 0.00% | −0.79 |
| SITM Sitime Corp. | Sold out | 0.00% | −0.69 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.69 |
| ATI Ati Inc. | Sold out | 0.00% | −0.66 |
| RMBS Rambus Inc. | Reduce -54.7% | 0.65% | −0.63 |
| PWP Perella Weinberg Partners | Reduce -99.1% | 0.00% | −0.54 |
| FIVE Five Below | Sold out | 0.00% | −0.53 |
| COLL Collegium Pharmaceutical Inc. | Sold out | 0.00% | −0.49 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −0.42 |
| AAOI Applied Optoelectronics Inc. | Reduce -49.6% | 0.71% | −0.40 |
| IONQ Ionq Inc. | Sold out | 0.00% | −0.39 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −0.33 |
| SKWD Skyward Specialty Insurance | Reduce -33.8% | 0.55% | −0.31 |
| NKTR Nektar Therapeutics | Reduce -0.2% | 0.63% | −0.27 |
| SKYT Skywater Technology Inc. | Sold out | 0.00% | −0.24 |
| LMRI Lumexa Imaging Holdings Inc. | Reduce -85.3% | 0.04% | −0.23 |
| AII American Integrity Insurance | Reduce -93.2% | 0.01% | −0.15 |
| CUBI Customers Bancorp Inc. | Reduce -0.7% | 0.67% | −0.15 |
| BYRN Byrna Technologies Inc. | Sold out | 0.00% | −0.14 |
| UTHR United Therapeutics Corp. | Reduce -5.4% | 0.15% | −0.09 |
| SWIM Latham Group Inc. | Reduce -45.3% | 0.08% | −0.09 |
| ENVA Enova International Inc. | Reduce -68.0% | 0.05% | −0.08 |
| OFRM Once Upon A Farm PBC | Reduce -39.0% | 0.09% | −0.08 |
| ITGR Integer Holdings Corp. | Sold out | 0.00% | −0.07 |
| MTUS Metallus Inc. | Reduce -17.2% | 0.13% | −0.06 |
| XERS Xeris Biopharma Holdings Inc. | Sold out | 0.00% | −0.06 |
| HTFL Heartflow Inc. | Reduce -28.3% | 0.10% | −0.06 |
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −0.04 |
| ICUI Icu Medical Inc. | Reduce -15.9% | 0.08% | −0.04 |
| NP Neptune Insurance Holdi Class A | Reduce -33.3% | 0.06% | −0.04 |
| NWFL Norwood Financial Corp. | Sold out | 0.00% | −0.04 |
| HOOD Robinhood Markets Inc. Class A | Reduce -41.2% | 0.04% | −0.03 |
| GLNG Golar LNG Ltd. | Sold out | 0.00% | −0.02 |
| NBN Northeast Bank | Reduce -11.3% | 0.07% | −0.02 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.02 |
| PGY Pagaya Technologies Ltd. Class A | Reduce -60.3% | 0.02% | −0.02 |
| RKT Rocket Cos Inc. Class A | Reduce -47.2% | 0.02% | −0.02 |
| ACAD Acadia Pharmaceuticals Inc. | Sold out | 0.00% | −0.02 |
| MCB Metropolitan Bank Holding Co. | Reduce -5.8% | 0.08% | −0.02 |
| MP MP Materials Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q1 2026 → Q2 2026
| LGN Legence Corp. Class A | New | 1.27% | +1.27 |
| ACLS Axcelis Technologies Inc. | Add +362.8% | 1.46% | +1.25 |
| CDNL Cardinal Infrastructure GR-A | Add +53.0% | 1.82% | +1.13 |
| CORT Corcept Therapeutics Inc. | Add +158.8% | 1.42% | +1.07 |
| SXT Sensient Technologies Corp. | New | 1.02% | +1.02 |
| TEX Terex Corp. | New | 0.91% | +0.91 |
| HRI Herc Holdings Inc. | New | 0.85% | +0.85 |
| MXL Maxlinear Inc. | New | 0.82% | +0.82 |
| TVTX Travere Therapeutics Inc. | Add +9.2% | 2.06% | +0.70 |
| COHU Cohu Inc. | Add +8.9% | 1.39% | +0.66 |
| MTRN Materion Corp. | New | 0.64% | +0.64 |
| NPKI NPK International Inc. | New | 0.60% | +0.60 |
| CECO Ceco Environmental Corp. | Add +50.1% | 1.50% | +0.59 |
| IDCC Interdigital Inc. | Add +144.3% | 1.48% | +0.59 |
| MANE Veradermics Inc. | Add +92.1% | 0.91% | +0.57 |
| RXO Rxo Inc. | Add +175.8% | 0.74% | +0.54 |
| FA First Advantage Corp. | Add +112.0% | 0.90% | +0.52 |
| AMBQ Ambiq Micro Inc. | New | 0.49% | +0.49 |
| HIMS Hims & Hers Health Inc. | New | 0.49% | +0.49 |
| DIOD Diodes Inc. | Add +94.0% | 0.85% | +0.47 |
| ALGT Allegiant Travel Co. | Add +48.1% | 1.30% | +0.46 |
| DNTH Dianthus Therapeutics Inc. | New | 0.45% | +0.45 |
| MRCY Mercury Systems Inc. | Add +9.8% | 1.77% | +0.44 |
| LTH Life Time Group Holdings Inc. | Add +78.0% | 0.91% | +0.44 |
| COMP Compass Inc. Class A | Add +49.4% | 0.95% | +0.43 |
| PLXS Plexus Corp. | Add +31.7% | 1.42% | +0.42 |
| CYTK Cytokinetics Inc. | Add +106.5% | 0.84% | +0.40 |
| ALMR Alamar Biosciences Inc. | New | 0.40% | +0.40 |
| QBTS D-Wave Quantum Inc. | Add +107.5% | 0.63% | +0.38 |
| POWI Power Integrations Inc. | Add +180.9% | 0.51% | +0.35 |
| BLLN Billiontoone Inc. Class A | Add +54.3% | 0.86% | +0.35 |
| LPTH Lightpath Technologies Inc. Class A | New | 0.35% | +0.35 |
| HNGE Hinge Health Inc. Class A | Add +25.5% | 0.67% | +0.33 |
| UMBF Umb Financial Corp. | Add +48.6% | 1.18% | +0.31 |
| AGYS Agilysys Inc. | Add +34.9% | 1.02% | +0.31 |
| SEI Solaris Energy Infrastructur | Add +28.8% | 1.15% | +0.28 |
| WHK Whitehawk Minerals Corp. Class A | New | 0.26% | +0.26 |
| VRDN Viridian Therapeutics Inc. | New | 0.26% | +0.26 |
| AVEX Aevex Corp. Class A | New | 0.25% | +0.25 |
| DAVE Dave Inc. | Add +702.8% | 0.26% | +0.24 |
| BOOT Boot Barn Holdings Inc. | Add +52.5% | 1.14% | +0.22 |
| AIR Aar Corp. | Add +20.4% | 1.69% | +0.21 |
| DFTX Definium Therapeutics Inc. | New | 0.20% | +0.20 |
| AMBA Ambarella Inc. | New | 0.20% | +0.20 |
| FCBM First Carolina Financial Ser | New | 0.19% | +0.19 |
| ATROB Astronics Corp. Class B | New | 0.17% | +0.17 |
| CVLT Commvault Systems Inc. | Add +1.5% | 0.63% | +0.16 |
| HAPN Happen Inc. | Add +24.3% | 0.63% | +0.15 |
| BOBS Bob's Discount Furniture | Add +37.3% | 0.58% | +0.15 |
| HAWK Hawkeye 360 Inc. | New | 0.15% | +0.15 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 197 | $2.8B | LFSC, TVTX, CDNL, MRCY, AIR |
| Q1 2026 | 199 | $2.1B | LFSC, MOD, GH, BE, TTMI |
| Q4 2025 | 189 | $2.1B | LFSC, GH, CRDO, KTOS, TTMI |
| Q3 2025 | 219 | $1.9B | LFSC, KTOS, CRDO, AVAV, RMBS |
| Q2 2025 | 212 | $1.6B | LFSC, CRDO, AVAV, KTOS, TMDX |
| Q1 2025 | 209 | $1.4B | PLMR, FTAI, CRDO, SKWD, INSM |
| Q4 2024 | 212 | $1.6B | CRDO, FTAI, LFSC, FRPT, PLMR |
| Q3 2024 | 224 | $1.9B | FTAI, FRPT, CRS, VRNS, CRDO |
| Q2 2024 | 223 | $1.9B | FTAI, FRPT, CRS, CRDO, TMDX |
| Q1 2024 | 229 | $1.9B | SMCI, FRPT, FTAI, VRNS, CRS |