Emerald Mutual Fund Advisers Trust
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), Emerald Mutual Fund Advisers Trust reported 229 stock positions worth $1.9 billion. Its top holding was Super Micro Computer (SMCI) at 3.7% of the portfolio, followed by Freshpet (FRPT, 2.7%) and Ftai Aviation (FTAI, 2.3%). Compared with Q4 2023, it opened 22 new positions, sold out of 33, added to 55 and reduced 94. The biggest buy was a new position in Viking Therapeutics (VKTX) and the biggest sale an exit from Immunogen (IMGN).
- Most Recent 13F
- Q2 2026
- Location
- LEOLA, PA
- CIK
- 0001352895
- Portfolio Value
- $1.9B (Q1 2024)
- SEC Filing
- 0001104659-24-058494 ↗ filed May 8, 2024
Holdings Value
Holdings 229 stocks · $1.9B
| SMCI Super Micro Computer Inc. | 3.66% | 69,657 | $70.4M | Reduce -43.4% |
| FRPT Freshpet Inc. | 2.73% | 452,830 | $52.5M | Add +0.0% |
| FTAI Ftai Aviation Ltd. | 2.30% | 657,355 | $44.2M | Reduce -6.7% |
| VRNS Varonis Systems Inc. | 1.93% | 787,492 | $37.1M | Add +0.5% |
| CRS Carpenter Technology | 1.80% | 483,597 | $34.5M | Reduce -14.4% |
| GTLS Chart Industries Inc. | 1.74% | 202,472 | $33.4M | Add +0.1% |
| TENB Tenable Holdings Inc. | 1.72% | 667,122 | $33.0M | Add +0.0% |
| PLMR Palomar Holdings Inc. | 1.64% | 375,485 | $31.5M | Add +0.1% |
| CHDN Churchill Downs Inc. | 1.64% | 254,273 | $31.5M | Reduce -2.4% |
| TMDX Transmedics Group Inc. | 1.60% | 414,514 | $30.6M | Add +0.1% |
| LIVN Livanova PLC | 1.58% | 543,979 | $30.4M | Add +39.4% |
| BPMC Blueprint Medicines Corp. | 1.56% | 315,819 | $30.0M | Reduce -16.9% |
| SKWD Skyward Specialty Insurance | 1.46% | 747,913 | $28.0M | No change |
| TNET Trinet Group Inc. | 1.42% | 205,328 | $27.2M | Add +2.9% |
| ATI Ati Inc. | 1.40% | 525,303 | $26.9M | Add +7.8% |
| KTOS Kratos Defense & Security | 1.37% | 1,433,058 | $26.3M | Reduce -2.6% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 1.35% | 494,492 | $26.0M | Add +57.9% |
| RDNT Radnet Inc. | 1.34% | 528,545 | $25.7M | Add +18.8% |
| NEO Neogenomics Inc. | 1.28% | 1,557,895 | $24.5M | No change |
| PDFS PDF Solutions Inc. | 1.26% | 715,920 | $24.1M | Add +16.2% |
| AVAV Aerovironment Inc. | 1.24% | 155,870 | $23.9M | Reduce -17.2% |
| CRDO Credo Technology Group Holdi | 1.23% | 1,114,068 | $23.6M | Add +13.9% |
| MMSI Merit Medical Systems Inc. | 1.21% | 307,141 | $23.3M | Reduce -0.0% |
| ACAD Acadia Pharmaceuticals Inc. | 1.20% | 1,250,229 | $23.1M | Reduce -4.2% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 1.19% | 583,957 | $22.9M | No change |
| ONTO Onto Innovation Inc. | 1.17% | 124,501 | $22.5M | Reduce -1.4% |
| NVEE NV5 Global Inc. | 1.17% | 229,468 | $22.5M | Reduce -4.5% |
| MTSI Macom Technology Solutions H | 1.15% | 230,080 | $22.0M | No change |
| MC Moelis & Co. Class A | 1.13% | 380,711 | $21.6M | No change |
| ITCI Intra-Cellular Therapies Inc. | 1.12% | 312,131 | $21.6M | Add +11.2% |
| FORM Formfactor Inc. | 1.10% | 464,841 | $21.2M | No change |
| BWIN Baldwin Insurance Group Inc./ filed as BRP GROUP INC | 1.10% | 732,113 | $21.2M | Add +0.2% |
| AIR Aar Corp. | 1.06% | 339,988 | $20.4M | No change |
| MDGL Madrigal Pharmaceuticals Inc. | 1.05% | 75,759 | $20.2M | Add +92.9% |
| FOUR SHIFT4 Payments Inc. Class A | 1.04% | 303,000 | $20.0M | Reduce -24.7% |
| COLL Collegium Pharmaceutical Inc. | 1.03% | 511,201 | $19.8M | Reduce -7.4% |
| VKTX Viking Therapeutics Inc. | 1.03% | 240,437 | $19.7M | New |
| SVV Savers Value Village Inc. | 0.98% | 980,669 | $18.9M | Add +5.4% |
| AX Axos Financial Inc. | 0.98% | 348,910 | $18.9M | Add +16.6% |
| ARHS Arhaus Inc. | 0.94% | 1,170,567 | $18.0M | No change |
| RARE Ultragenyx Pharmaceutical Inc. | 0.94% | 385,340 | $18.0M | No change |
| LPX Louisiana-Pacific Corp. | 0.90% | 205,949 | $17.3M | New |
| HLI Houlihan Lokey Inc. | 0.89% | 132,870 | $17.0M | Reduce -2.9% |
| RMBS Rambus Inc. | 0.87% | 271,430 | $16.8M | Reduce -8.2% |
| FA First Advantage Corp. | 0.86% | 1,021,242 | $16.6M | No change |
| PI Impinj Inc. | 0.86% | 128,202 | $16.5M | Add +29.9% |
| TMCI Treace Medical Concepts Inc. | 0.84% | 1,229,128 | $16.0M | Add +3.8% |
| BBIO Bridgebio Pharma Inc. | 0.81% | 500,254 | $15.5M | No change |
| AGYS Agilysys Inc. | 0.79% | 180,533 | $15.2M | Add +6.6% |
| NOG Northern Oil and Gas Inc. | 0.79% | 382,705 | $15.2M | Add +0.3% |
| TDW Tidewater Inc. | 0.78% | 163,561 | $15.0M | Reduce -1.6% |
| INDI Indie Semiconductor Inc. Class A | 0.78% | 2,124,389 | $15.0M | Reduce -7.9% |
| RHP Ryman Hospitality Properties | 0.75% | 124,528 | $14.4M | Add +8.8% |
| LNWO Light & Wonder Inc. | 0.74% | 139,560 | $14.2M | Add +34.0% |
| JACK Jack in the Box Inc. | 0.74% | 206,561 | $14.1M | No change |
| BJRI Bj's Restaurants Inc. | 0.73% | 387,909 | $14.0M | No change |
| CCOI Cogent Communications Holdin | 0.73% | 214,726 | $14.0M | No change |
| VAL Valaris Ltd. | 0.71% | 181,223 | $13.6M | Add +19.6% |
| QTRX Quanterix Corp. | 0.69% | 558,841 | $13.2M | Add +18.0% |
| INSM Insmed Inc. | 0.68% | 484,714 | $13.2M | Reduce -35.2% |
| DCPH Deciphera Pharmaceuticals Inc. | 0.68% | 824,402 | $13.0M | Add +56.6% |
| BANC Banc of California Inc. | 0.67% | 849,110 | $12.9M | Add +22.0% |
| EYE National Vision Holdings Inc. | 0.65% | 561,081 | $12.4M | No change |
| BPOP Popular Inc. | 0.62% | 134,427 | $11.8M | Add +42.1% |
| OLLI Ollie's Bargain Outlet Holdi | 0.61% | 148,350 | $11.8M | Add +23.9% |
| UTZ Utz Brands Inc. | 0.61% | 633,933 | $11.7M | No change |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 0.60% | 769,746 | $11.6M | No change |
| TRNO Terreno Realty Corp. | 0.60% | 173,600 | $11.5M | Reduce -5.6% |
| WFRD Weatherford International PL | 0.58% | 97,096 | $11.2M | Add +1.1% |
| LITE Lumentum Holdings Inc. | 0.58% | 235,725 | $11.2M | New |
| PTLO Portillo's Inc. Class A | 0.58% | 784,449 | $11.1M | No change |
| KLIC Kulicke & Soffa Industries | 0.58% | 220,231 | $11.1M | Add +78.3% |
| IBP Installed Building Products | 0.57% | 42,559 | $11.0M | No change |
| EXPO Exponent Inc. | 0.57% | 131,897 | $10.9M | No change |
| TREE Lendingtree Inc. | 0.57% | 256,736 | $10.9M | Add +671.1% |
| HRI Herc Holdings Inc. filed as HERC HLDGS INC | 0.56% | 64,331 | $10.8M | Reduce -46.5% |
| AKRO Akero Therapeutics Inc. | 0.56% | 424,901 | $10.7M | Add +266.0% |
| RPD RAPID7 Inc. | 0.55% | 214,982 | $10.5M | Reduce -25.8% |
| TVTX Travere Therapeutics Inc. | 0.53% | 1,328,381 | $10.2M | Add +73.7% |
| TRIN Trinity Capital Inc. | 0.52% | 681,144 | $10.0M | No change |
| ATEC Alphatec Holdings Inc. | 0.52% | 719,324 | $9.9M | Add +81.3% |
| SLNO Soleno Therapeutics Inc. | 0.52% | 231,761 | $9.9M | Add +15.1% |
| VC Visteon Corp. | 0.52% | 84,279 | $9.9M | No change |
| CHUY Chuy's Holdings Inc. | 0.51% | 292,967 | $9.9M | No change |
| SKYT Skywater Technology Inc. | 0.47% | 883,009 | $9.0M | Add +4.2% |
| ZUO Zuora Inc. Class A | 0.46% | 963,738 | $8.8M | No change |
| SYNA Synaptics Inc. | 0.43% | 85,313 | $8.3M | Add +91.7% |
| CELH Celsius Holdings Inc. | 0.43% | 100,204 | $8.3M | Reduce -58.2% |
| ATRC Atricure Inc. | 0.43% | 271,814 | $8.3M | Reduce -25.0% |
| RXO Rxo Inc. | 0.41% | 356,026 | $7.8M | No change |
| HLIT Harmonic Inc. | 0.40% | 573,182 | $7.7M | Reduce -31.3% |
| FLYW Flywire Corp.-Voting | 0.38% | 295,802 | $7.3M | Add +142.3% |
| OSW Onespaworld Holdings Ltd. | 0.38% | 544,738 | $7.2M | Add +18.9% |
| WHD Cactus Inc. Class A | 0.37% | 141,854 | $7.1M | Reduce -50.3% |
| CVRX CVRX Inc. | 0.37% | 385,034 | $7.0M | Add +17.0% |
| AGS Playags Inc. | 0.34% | 730,046 | $6.6M | Add +0.4% |
| IMVT Immunovant Inc. | 0.34% | 201,087 | $6.5M | Reduce -1.6% |
| TBBK The Bancorp Inc. | 0.33% | 192,132 | $6.4M | Add +478.1% |
| KALV Kalvista Pharmaceuticals Inc. | 0.33% | 529,365 | $6.3M | New |
| PRFT Perficient Inc. | 0.32% | 107,690 | $6.1M | No change |
Portfolio Sells Q4 2023 → Q1 2024
| IMGN Immunogen Inc. | Sold out | 0.00% | −1.87 |
| CBAY Cymabay Therapeutics Inc. | Sold out | 0.00% | −1.10 |
| ACAD Acadia Pharmaceuticals Inc. | Reduce -4.2% | 1.20% | −0.96 |
| PRVA Privia Health Group Inc. | Reduce -78.8% | 0.18% | −0.82 |
| SMPL The Simply Good Foods Co. | Reduce -82.5% | 0.13% | −0.73 |
| DCGO Docgo Inc. | Sold out | 0.00% | −0.56 |
| INSM Insmed Inc. | Reduce -35.2% | 0.68% | −0.54 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -24.7% | 1.04% | −0.54 |
| AMLX Amylyx Pharmaceuticals Inc. | Sold out | 0.00% | −0.51 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.42 |
| HRI Herc Holdings Inc. | Reduce -46.5% | 0.56% | −0.38 |
| HAE Haemonetics Corp. | Reduce -68.6% | 0.15% | −0.34 |
| IPGP Ipg Photonics Corp. | Sold out | 0.00% | −0.33 |
| RPD RAPID7 Inc. | Reduce -25.8% | 0.55% | −0.33 |
| CRS Carpenter Technology | Reduce -14.4% | 1.80% | −0.32 |
| WHD Cactus Inc. Class A | Reduce -50.3% | 0.37% | −0.32 |
| PPBI Pacific Premier Bancorp Inc. | Reduce -55.7% | 0.18% | −0.31 |
| TTI Tetra Technologies Inc. | Reduce -55.8% | 0.23% | −0.31 |
| BPMC Blueprint Medicines Corp. | Reduce -16.9% | 1.56% | −0.30 |
| LNTH Lantheus Holdings Inc. | Sold out | 0.00% | −0.29 |
| AMRC Ameresco Inc. Class A | Sold out | 0.00% | −0.29 |
| CELH Celsius Holdings Inc. | Reduce -58.2% | 0.43% | −0.26 |
| PRKS United Parks & Resorts Inc. | Sold out | 0.00% | −0.26 |
| ATRC Atricure Inc. | Reduce -25.0% | 0.43% | −0.25 |
| APLD Applied Digital Corp. | Sold out | 0.00% | −0.25 |
| NVEE NV5 Global Inc. | Reduce -4.5% | 1.17% | −0.24 |
| CHX Championx Corp. | Sold out | 0.00% | −0.22 |
| CHDN Churchill Downs Inc. | Reduce -2.4% | 1.64% | −0.22 |
| KTOS Kratos Defense & Security | Reduce -2.6% | 1.37% | −0.21 |
| INDI Indie Semiconductor Inc. Class A | Reduce -7.9% | 0.78% | −0.21 |
| RMBS Rambus Inc. | Reduce -8.2% | 0.87% | −0.19 |
| MNKD Mannkind Corp. | Sold out | 0.00% | −0.18 |
| HLIT Harmonic Inc. | Reduce -31.3% | 0.40% | −0.18 |
| FWRD Forward Air Corp. | Sold out | 0.00% | −0.16 |
| HRT Hireright Holdings Corp. | Sold out | 0.00% | −0.15 |
| FINW Finwise Bancorp | Reduce -60.1% | 0.05% | −0.13 |
| IMVT Immunovant Inc. | Reduce -1.6% | 0.34% | −0.12 |
| MTDR Matador Resources Co. | Reduce -39.8% | 0.25% | −0.11 |
| REPL Replimune Group Inc. | Reduce -61.9% | 0.06% | −0.10 |
| EE Excelerate Energy Inc. Class A | Sold out | 0.00% | −0.08 |
| LOB Live Oak Bancshares Inc. | Reduce -67.8% | 0.03% | −0.07 |
| TCBI Texas Capital Bancshares Inc. | Sold out | 0.00% | −0.07 |
| CNOB Connectone Bancorp Inc. | Reduce -64.9% | 0.03% | −0.06 |
| WAL Western Alliance Bancorp | Reduce -31.8% | 0.11% | −0.06 |
| DCOM Dime Commercial Bancshares I | Sold out | 0.00% | −0.05 |
| ZVIA Zevia PBC-A | Reduce -0.8% | 0.06% | −0.05 |
| FFWM First Foundation Inc. | Reduce -16.6% | 0.08% | −0.04 |
| COLB Columbia Banking System Inc. | Sold out | 0.00% | −0.04 |
| PNFP Pinnacle Financial Partners | Reduce -50.8% | 0.04% | −0.04 |
| CCB Coastal Financial Corp. | Reduce -62.0% | 0.02% | −0.04 |
Portfolio Buys Q4 2023 → Q1 2024
| VKTX Viking Therapeutics Inc. | New | 1.03% | +1.03 |
| LPX Louisiana-Pacific Corp. | New | 0.90% | +0.90 |
| FRPT Freshpet Inc. | Add +0.0% | 2.73% | +0.65 |
| QTWO Q2 Holdings Inc. | Add +57.9% | 1.35% | +0.63 |
| LITE Lumentum Holdings Inc. | New | 0.58% | +0.58 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +92.9% | 1.05% | +0.57 |
| PLMR Palomar Holdings Inc. | Add +0.1% | 1.64% | +0.54 |
| RDNT Radnet Inc. | Add +18.8% | 1.34% | +0.52 |
| LIVN Livanova PLC | Add +39.4% | 1.58% | +0.52 |
| TREE Lendingtree Inc. | Add +671.1% | 0.57% | +0.51 |
| AKRO Akero Therapeutics Inc. | Add +266.0% | 0.56% | +0.42 |
| PI Impinj Inc. | Add +29.9% | 0.86% | +0.39 |
| KALV Kalvista Pharmaceuticals Inc. | New | 0.33% | +0.33 |
| IRWD Ironwood Pharmaceuticals Inc. | New | 0.29% | +0.29 |
| LNWO Light & Wonder Inc. | Add +34.0% | 0.74% | +0.29 |
| AAOI Applied Optoelectronics Inc. | New | 0.29% | +0.29 |
| CLDX Celldex Therapeutics Inc. | New | 0.28% | +0.28 |
| GTLS Chart Industries Inc. | Add +0.1% | 1.74% | +0.28 |
| TBBK The Bancorp Inc. | Add +478.1% | 0.33% | +0.27 |
| CYTK Cytokinetics Inc. | New | 0.26% | +0.26 |
| FLYW Flywire Corp.-Voting | Add +142.3% | 0.38% | +0.23 |
| ATI Ati Inc. | Add +7.8% | 1.40% | +0.23 |
| DCPH Deciphera Pharmaceuticals Inc. | Add +56.6% | 0.68% | +0.23 |
| CRDO Credo Technology Group Holdi | Add +13.9% | 1.23% | +0.22 |
| MAX Mediaalpha Inc. Class A | New | 0.22% | +0.22 |
| KLIC Kulicke & Soffa Industries | Add +78.3% | 0.58% | +0.22 |
| PDFS PDF Solutions Inc. | Add +16.2% | 1.26% | +0.21 |
| BPOP Popular Inc. | Add +42.1% | 0.62% | +0.21 |
| ATEC Alphatec Holdings Inc. | Add +81.3% | 0.52% | +0.20 |
| BWMN Bowman Consulting Group Ltd. | New | 0.18% | +0.18 |
| BANC Banc of California Inc. | Add +22.0% | 0.67% | +0.18 |
| BWIN Baldwin Insurance Group Inc./ | Add +0.2% | 1.10% | +0.17 |
| TVTX Travere Therapeutics Inc. | Add +73.7% | 0.53% | +0.17 |
| SYNA Synaptics Inc. | Add +91.7% | 0.43% | +0.16 |
| TNET Trinet Group Inc. | Add +2.9% | 1.42% | +0.16 |
| VAL Valaris Ltd. | Add +19.6% | 0.71% | +0.16 |
| OLLI Ollie's Bargain Outlet Holdi | Add +23.9% | 0.61% | +0.13 |
| SVV Savers Value Village Inc. | Add +5.4% | 0.98% | +0.13 |
| AX Axos Financial Inc. | Add +16.6% | 0.98% | +0.12 |
| IDCC Interdigital Inc. | New | 0.09% | +0.09 |
| TENB Tenable Holdings Inc. | Add +0.0% | 1.72% | +0.09 |
| SLNO Soleno Therapeutics Inc. | Add +15.1% | 0.52% | +0.09 |
| WFRD Weatherford International PL | Add +1.1% | 0.58% | +0.09 |
| RHP Ryman Hospitality Properties | Add +8.8% | 0.75% | +0.08 |
| ITGR Integer Holdings Corp. | Add +33.5% | 0.20% | +0.07 |
| ITCI Intra-Cellular Therapies Inc. | Add +11.2% | 1.12% | +0.06 |
| MCB Metropolitan Bank Holding Co. | Add +117.1% | 0.18% | +0.06 |
| VRNS Varonis Systems Inc. | Add +0.5% | 1.93% | +0.06 |
| MCHB Mechanics Bancorp Class A | Add +139.0% | 0.08% | +0.05 |
| NVDA Nvidia Corp. | Add +12.0% | 0.10% | +0.05 |
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 |