Emerald Mutual Fund Advisers Trust
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 4, 2026), Emerald Mutual Fund Advisers Trust reported 199 stock positions worth $2.1 billion. Its top holding was F/M Emr Life Sciences in ETF (LFSC) at 3.4% of the portfolio, followed by Modine Manufacturing (MOD, 2.5%) and Guardant Health (GH, 2.3%). Compared with Q4 2025, it opened 23 new positions, sold out of 13, added to 61 and reduced 54. The biggest buy was a new position in Plexus (PLXS) and the biggest sale Lumentum (LITE, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- LEOLA, PA
- CIK
- 0001352895
- Portfolio Value
- $2.1B (Q1 2026)
- SEC Filing
- 0001104659-26-054904 ↗ filed May 4, 2026
Holdings Value
Holdings 199 stocks · $2.1B
| LFSC F/M Emr Life Sciences in ETF | 3.39% | 1,997,035 | $69.9M | No change |
| MOD Modine Manufacturing Co. | 2.48% | 236,071 | $51.2M | Add +0.3% |
| GH Guardant Health Inc. | 2.33% | 519,545 | $48.0M | Reduce -0.8% |
| BE Bloom Energy Corp. Class A | 2.31% | 352,178 | $47.7M | Add +0.2% |
| TTMI TTM Technologies | 2.22% | 470,005 | $45.8M | Reduce -14.1% |
| COGT Cogent Biosciences Inc. | 1.92% | 1,028,832 | $39.6M | Reduce -0.9% |
| VSEC Vse Corp. | 1.75% | 195,915 | $36.1M | Add +16.4% |
| KTOS Kratos Defense & Security | 1.75% | 510,656 | $36.0M | Reduce -2.2% |
| FN Fabrinet | 1.64% | 65,010 | $33.9M | Reduce -1.2% |
| AGX Argan Inc. | 1.56% | 58,943 | $32.1M | No change |
| AIR Aar Corp. | 1.49% | 280,257 | $30.7M | Add +10.9% |
| LIVN Livanova PLC | 1.40% | 454,329 | $28.9M | Reduce -0.4% |
| AX Axos Financial Inc. | 1.39% | 336,740 | $28.7M | Reduce -1.3% |
| CRDO Credo Technology Group Holdi | 1.37% | 301,337 | $28.3M | Add +2.0% |
| TVTX Travere Therapeutics Inc. | 1.36% | 945,033 | $28.1M | Reduce -0.4% |
| ESE Esco Technologies Inc. | 1.34% | 98,502 | $27.7M | No change |
| MRCY Mercury Systems Inc. | 1.33% | 375,472 | $27.4M | Add +11.7% |
| RMBS Rambus Inc. | 1.28% | 307,248 | $26.4M | Reduce -21.5% |
| LASR Nlight Inc. | 1.19% | 429,772 | $24.5M | No change |
| EYE National Vision Holdings Inc. | 1.18% | 937,540 | $24.3M | No change |
| BBIO Bridgebio Pharma Inc. | 1.15% | 320,211 | $23.8M | Add +1.1% |
| MIRM Mirum Pharmaceuticals Inc. | 1.12% | 250,399 | $23.1M | Add +3.3% |
| AAOI Applied Optoelectronics Inc. | 1.12% | 271,760 | $23.0M | Reduce -31.9% |
| KLIC Kulicke & Soffa Industries | 1.11% | 349,295 | $23.0M | Add +8.3% |
| TMDX Transmedics Group Inc. | 1.11% | 229,326 | $22.8M | Reduce -0.3% |
| IPGP Ipg Photonics Corp. | 1.07% | 192,457 | $22.1M | Add +57.5% |
| SMTC Semtech Corp. | 1.06% | 285,037 | $21.9M | No change |
| RSI Rush Street Interactive Inc. | 1.04% | 981,901 | $21.4M | No change |
| PLXS Plexus Corp. | 1.00% | 102,278 | $20.7M | New |
| SYRE Spyre Therapeutics Inc. | 1.00% | 408,113 | $20.6M | Reduce -1.0% |
| AVAV Aerovironment Inc. | 1.00% | 112,407 | $20.6M | Reduce -10.6% |
| IMAX Imax Corp. | 0.97% | 525,986 | $20.0M | No change |
| STRL Sterling Infrastructure Inc. | 0.97% | 48,875 | $19.9M | No change |
| MC Moelis & Co. Class A | 0.95% | 342,465 | $19.5M | Reduce -5.8% |
| PLMR Palomar Holdings Inc. | 0.95% | 163,270 | $19.5M | Add +1.0% |
| PDFS PDF Solutions Inc. | 0.94% | 594,610 | $19.4M | No change |
| BOOT Boot Barn Holdings Inc. | 0.92% | 129,260 | $18.9M | Add +18.6% |
| CECO Ceco Environmental Corp. | 0.91% | 314,005 | $18.7M | Add +20.5% |
| ATRO Astronics Corp. | 0.90% | 279,159 | $18.6M | Add +78.1% |
| SPXC SPX Technologies Inc. | 0.90% | 93,074 | $18.6M | No change |
| NKTR Nektar Therapeutics | 0.89% | 256,106 | $18.4M | Add +1.2% |
| IDCC Interdigital Inc. | 0.89% | 60,676 | $18.3M | Add +99.8% |
| OLLI Ollie's Bargain Outlet Holdi | 0.88% | 197,473 | $18.2M | Add +6.4% |
| UMBF Umb Financial Corp. | 0.87% | 158,617 | $17.9M | No change |
| ARLO Arlo Technologies Inc. | 0.87% | 1,256,289 | $17.9M | Add +1.4% |
| SEI Solaris Energy Infrastructur | 0.86% | 314,782 | $17.8M | Add +0.9% |
| FRPT Freshpet Inc. | 0.86% | 300,932 | $17.7M | Add +19.3% |
| TBBK The Bancorp Inc. | 0.86% | 328,845 | $17.7M | Reduce -7.0% |
| SKWD Skyward Specialty Insurance | 0.85% | 401,899 | $17.6M | Add +1.1% |
| PIPR Piper Sandler Cos | 0.84% | 225,192 | $17.2M | Add +14.3% |
| ALGT Allegiant Travel Co. | 0.83% | 211,825 | $17.2M | No change |
| CUBI Customers Bancorp Inc. | 0.82% | 242,313 | $16.8M | Add +14.1% |
| MIR Mirion Technologies Inc. | 0.79% | 873,466 | $16.2M | Add +24.0% |
| KALV Kalvista Pharmaceuticals Inc. | 0.79% | 805,762 | $16.2M | Reduce -5.8% |
| EVLV Evolv Technologies Holdings | 0.78% | 2,667,589 | $16.1M | Add +6.6% |
| TRVI Trevi Therapeutics Inc. | 0.73% | 1,262,492 | $15.1M | Reduce -0.8% |
| COHU Cohu Inc. | 0.73% | 489,850 | $15.0M | New |
| AMSC American Superconductor Corp. | 0.72% | 438,875 | $14.9M | Add +0.8% |
| AGYS Agilysys Inc. | 0.71% | 205,857 | $14.6M | No change |
| SYNA Synaptics Inc. | 0.71% | 208,859 | $14.6M | No change |
| ONTO Onto Innovation Inc. | 0.71% | 70,930 | $14.5M | Reduce -5.9% |
| CDNL Cardinal Infrastructure GR-A | 0.69% | 359,063 | $14.2M | Add +19.7% |
| SITM Sitime Corp. | 0.69% | 41,170 | $14.2M | Reduce -22.1% |
| CRS Carpenter Technology | 0.69% | 35,876 | $14.1M | Reduce -22.1% |
| RDNT Radnet Inc. | 0.68% | 250,597 | $14.0M | Reduce -0.3% |
| TTI Tetra Technologies Inc. | 0.68% | 1,641,276 | $14.0M | Reduce -4.6% |
| OSW Onespaworld Holdings Ltd. | 0.67% | 600,025 | $13.8M | No change |
| ATI Ati Inc. | 0.66% | 93,847 | $13.7M | Reduce -48.9% |
| PVLA Palvella Therapeutics Inc. | 0.64% | 105,820 | $13.2M | New |
| SVRA Savara Inc. | 0.63% | 2,368,669 | $12.9M | Reduce -1.2% |
| ATEC Alphatec Holdings Inc. | 0.61% | 1,156,826 | $12.6M | Add +27.1% |
| VRNS Varonis Systems Inc. | 0.58% | 555,882 | $11.9M | No change |
| CCB Coastal Financial Corp. | 0.58% | 156,664 | $11.9M | Add +45.4% |
| PI Impinj Inc. | 0.55% | 111,287 | $11.4M | Add +11.9% |
| AXSM Axsome Therapeutics Inc. | 0.55% | 67,054 | $11.3M | Reduce -0.8% |
| BJRI Bj's Restaurants Inc. | 0.55% | 322,573 | $11.3M | Reduce -0.3% |
| PWP Perella Weinberg Partners | 0.55% | 621,774 | $11.3M | Add +14.9% |
| FIVE Five Below | 0.53% | 47,695 | $10.9M | No change |
| COMP Compass Inc. Class A | 0.52% | 1,462,683 | $10.7M | Add +36.2% |
| BLLN Billiontoone Inc. Class A | 0.51% | 132,206 | $10.4M | Add +11.9% |
| COLL Collegium Pharmaceutical Inc. | 0.49% | 306,074 | $10.1M | Reduce -21.9% |
| HAPN Happen Inc. | 0.49% | 700,631 | $10.0M | Add +21.3% |
| SBCF Seacoast Banking Corp. | 0.48% | 326,516 | $9.9M | Add +138.7% |
| CVLT Commvault Systems Inc. | 0.47% | 124,233 | $9.7M | Add +20.9% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 0.47% | 203,815 | $9.6M | Reduce -27.7% |
| LTH Life Time Group Holdings Inc. | 0.46% | 355,492 | $9.6M | No change |
| TREE Lendingtree Inc. | 0.45% | 218,269 | $9.4M | No change |
| BOBS Bob's Discount Furniture | 0.44% | 764,745 | $9.0M | New |
| CYTK Cytokinetics Inc. | 0.43% | 135,464 | $8.9M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.42% | 16,500 | $8.6M | Reduce -34.0% |
| SLDE Slide Insurance Holdings Inc. | 0.40% | 459,820 | $8.3M | Add +24.9% |
| TRIN Trinity Capital Inc. | 0.39% | 549,260 | $8.1M | No change |
| IONQ Ionq Inc. | 0.39% | 277,668 | $8.0M | No change |
| FA First Advantage Corp. | 0.38% | 672,716 | $7.9M | No change |
| DIOD Diodes Inc. | 0.38% | 114,097 | $7.8M | New |
| CORT Corcept Therapeutics Inc. | 0.35% | 179,607 | $7.2M | Reduce -7.6% |
| HNGE Hinge Health Inc. Class A | 0.34% | 181,766 | $7.0M | New |
| MANE Veradermics Inc. | 0.33% | 109,283 | $6.9M | New |
| SLNO Soleno Therapeutics Inc. | 0.33% | 200,727 | $6.7M | Reduce -13.7% |
| CRVS Corvus Pharmaceuticals Inc. | 0.33% | 459,253 | $6.7M | New |
Portfolio Sells Q4 2025 → Q1 2026
| LITE Lumentum Holdings Inc. | Reduce -98.6% | 0.04% | −1.52 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −1.09 |
| WVE Wave Life Sciences Ltd. | Reduce -42.4% | 0.29% | −0.89 |
| ACAD Acadia Pharmaceuticals Inc. | Reduce -96.6% | 0.02% | −0.61 |
| QTWO Q2 Holdings Inc. | Reduce -27.7% | 0.47% | −0.52 |
| FOUR SHIFT4 Payments Inc. Class A | Sold out | 0.00% | −0.51 |
| AVAV Aerovironment Inc. | Reduce -10.6% | 1.00% | −0.48 |
| RMBS Rambus Inc. | Reduce -21.5% | 1.28% | −0.47 |
| MMSI Merit Medical Systems Inc. | Sold out | 0.00% | −0.45 |
| TVTX Travere Therapeutics Inc. | Reduce -0.4% | 1.36% | −0.40 |
| SKYT Skywater Technology Inc. | Reduce -74.9% | 0.24% | −0.40 |
| COLL Collegium Pharmaceutical Inc. | Reduce -21.9% | 0.49% | −0.39 |
| ATI Ati Inc. | Reduce -48.9% | 0.66% | −0.36 |
| TBBK The Bancorp Inc. | Reduce -7.0% | 0.86% | −0.31 |
| MDGL Madrigal Pharmaceuticals Inc. | Reduce -34.0% | 0.42% | −0.29 |
| GH Guardant Health Inc. | Reduce -0.8% | 2.33% | −0.28 |
| MC Moelis & Co. Class A | Reduce -5.8% | 0.95% | −0.27 |
| TMDX Transmedics Group Inc. | Reduce -0.3% | 1.11% | −0.26 |
| HIMS Hims & Hers Health Inc. | Sold out | 0.00% | −0.23 |
| SITM Sitime Corp. | Reduce -22.1% | 0.69% | −0.22 |
| SLNO Soleno Therapeutics Inc. | Reduce -13.7% | 0.33% | −0.20 |
| RDNT Radnet Inc. | Reduce -0.3% | 0.68% | −0.19 |
| KTOS Kratos Defense & Security | Reduce -2.2% | 1.75% | −0.18 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −0.14 |
| TENB Tenable Holdings Inc. | Sold out | 0.00% | −0.11 |
| TTI Tetra Technologies Inc. | Reduce -4.6% | 0.68% | −0.11 |
| ZVIA Zevia PBC-A | Sold out | 0.00% | −0.09 |
| AVAH Aveanna Healthcare Holdings | Reduce -0.5% | 0.30% | −0.09 |
| NP Neptune Insurance Holdi Class A | Reduce -32.7% | 0.10% | −0.08 |
| SVRA Savara Inc. | Reduce -1.2% | 0.63% | −0.08 |
| BJRI Bj's Restaurants Inc. | Reduce -0.3% | 0.55% | −0.07 |
| GDOT Green Dot Corp. Class A | Sold out | 0.00% | −0.06 |
| AXSM Axsome Therapeutics Inc. | Reduce -0.8% | 0.55% | −0.05 |
| ASIC Ategrity Specialty Holdings | Reduce -86.2% | 0.01% | −0.05 |
| INSM Insmed Inc. | Reduce -37.8% | 0.07% | −0.05 |
| TRVI Trevi Therapeutics Inc. | Reduce -0.8% | 0.73% | −0.05 |
| AX Axos Financial Inc. | Reduce -1.3% | 1.39% | −0.04 |
| UTZ Utz Brands Inc. | Sold out | 0.00% | −0.04 |
| ICUI Icu Medical Inc. | Reduce -11.2% | 0.12% | −0.03 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −0.03 |
| ITGR Integer Holdings Corp. | Reduce -35.0% | 0.07% | −0.03 |
| KLAR Klarna Group PLC | Sold out | 0.00% | −0.02 |
| OZK Bank Ozk | Sold out | 0.00% | −0.02 |
| GENI Genius Sports Ltd. | Sold out | 0.00% | −0.02 |
| CRS Carpenter Technology | Reduce -22.1% | 0.69% | −0.02 |
| CBLL Ceribell Inc. | Reduce -4.1% | 0.08% | −0.02 |
| CHYM Chime Financial Inc. Class A | Reduce -44.2% | 0.01% | −0.02 |
| WAL Western Alliance Bancorp | Reduce -20.1% | 0.04% | −0.02 |
| ESQ Esquire Financial Holdings I | Reduce -19.4% | 0.10% | −0.02 |
| MCB Metropolitan Bank Holding Co. | Reduce -21.4% | 0.09% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| PLXS Plexus Corp. | New | 1.00% | +1.00 |
| MOD Modine Manufacturing Co. | Add +0.3% | 2.48% | +0.95 |
| BE Bloom Energy Corp. Class A | Add +0.2% | 2.31% | +0.83 |
| COHU Cohu Inc. | New | 0.73% | +0.73 |
| IPGP Ipg Photonics Corp. | Add +57.5% | 1.07% | +0.64 |
| PVLA Palvella Therapeutics Inc. | New | 0.64% | +0.64 |
| ATRO Astronics Corp. | Add +78.1% | 0.90% | +0.49 |
| AIR Aar Corp. | Add +10.9% | 1.49% | +0.47 |
| BOBS Bob's Discount Furniture | New | 0.44% | +0.44 |
| CYTK Cytokinetics Inc. | New | 0.43% | +0.43 |
| IDCC Interdigital Inc. | Add +99.8% | 0.89% | +0.42 |
| KLIC Kulicke & Soffa Industries | Add +8.3% | 1.11% | +0.40 |
| DIOD Diodes Inc. | New | 0.38% | +0.38 |
| NKTR Nektar Therapeutics | Add +1.2% | 0.89% | +0.37 |
| HNGE Hinge Health Inc. Class A | New | 0.34% | +0.34 |
| CDNL Cardinal Infrastructure GR-A | Add +19.7% | 0.69% | +0.34 |
| VSEC Vse Corp. | Add +16.4% | 1.75% | +0.34 |
| MANE Veradermics Inc. | New | 0.33% | +0.33 |
| CRVS Corvus Pharmaceuticals Inc. | New | 0.33% | +0.33 |
| SBCF Seacoast Banking Corp. | Add +138.7% | 0.48% | +0.27 |
| FLOC Flowco Holdings Inc. Class A | New | 0.23% | +0.23 |
| ACLS Axcelis Technologies Inc. | New | 0.21% | +0.21 |
| RXO Rxo Inc. | New | 0.20% | +0.20 |
| MIRM Mirum Pharmaceuticals Inc. | Add +3.3% | 1.12% | +0.19 |
| MTUS Metallus Inc. | New | 0.19% | +0.19 |
| OFRM Once Upon A Farm PBC | New | 0.17% | +0.17 |
| SEI Solaris Energy Infrastructur | Add +0.9% | 0.86% | +0.16 |
| POWI Power Integrations Inc. | New | 0.15% | +0.15 |
| CECO Ceco Environmental Corp. | Add +20.5% | 0.91% | +0.15 |
| MRCY Mercury Systems Inc. | Add +11.7% | 1.33% | +0.13 |
| FRPT Freshpet Inc. | Add +19.3% | 0.86% | +0.11 |
| AMSC American Superconductor Corp. | Add +0.8% | 0.72% | +0.11 |
| PWP Perella Weinberg Partners | Add +14.9% | 0.55% | +0.09 |
| UTHR United Therapeutics Corp. | Add +10.3% | 0.24% | +0.06 |
| PNFP Pinnacle Financial Partners | New | 0.06% | +0.06 |
| CUBI Customers Bancorp Inc. | Add +14.1% | 0.82% | +0.06 |
| XERS Xeris Biopharma Holdings Inc. | New | 0.06% | +0.06 |
| EE Excelerate Energy Inc. Class A | Add +2.6% | 0.31% | +0.05 |
| SLDE Slide Insurance Holdings Inc. | Add +24.9% | 0.40% | +0.05 |
| BYRN Byrna Technologies Inc. | Add +184.9% | 0.14% | +0.05 |
| TWST Twist Bioscience Corp. | New | 0.04% | +0.04 |
| WAY Waystar Holding Corp. | Add +236.6% | 0.06% | +0.04 |
| CASH Pathward Financial Inc. | Add +29.4% | 0.09% | +0.04 |
| BLLN Billiontoone Inc. Class A | Add +11.9% | 0.51% | +0.04 |
| ARLO Arlo Technologies Inc. | Add +1.4% | 0.87% | +0.02 |
| PIPR Piper Sandler Cos | Add +14.3% | 0.84% | +0.02 |
| MPB Mid Penn Bancorp Inc. | Add +5.2% | 0.25% | +0.02 |
| FICO Fair Isaac Corp. | New | 0.02% | +0.02 |
| SBUX Starbucks Corp. | New | 0.02% | +0.02 |
| BA The Boeing Co. | New | 0.02% | +0.02 |
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 |