EMERALD MUTUAL FUND ADVISERS TRUST Information

3175 OREGON PIKE, LEOLA, Pennsylvania, 17540, (717) 556-8900

Report Date: 03/31/2014

Position Statistics

Total Positions 249
New Positions 44
Increased Positions 148
Decreased Positions 49
Positions with Activity 197
Sold Out Positions 31
Total Mkt Value (in $ millions) 978

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 3.39%
Capital Goods 7.78%
Conglomerates 2.15%
Consumer Cyclical 1.93%
Consumer/Non-Cyclical
Energy 4.55%
Financial 17.65%
Healthcare 15.08%
Services 13.04%
Technology 19.95%
Transportation 4.28%
Utilities

249 Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
SPIRIT AIRLS INC COM 31,381 6,768 27.50 494,030
MWI VETERINARY SUPPLY INC COM 24,660 5,013 25.51 172,148
BANK OF THE OZARKS INC COM 24,114 3,788 18.64 727,188
SVB FINL GROUP COM 18,754 2,685 16.71 165,887
TREX CO INC COM 18,502 4,118 28.63 665,768
ACADIA HEALTHCARE COMPANY INC COM 17,871 3,667 25.81 395,808
MIDDLEBY CORP COM 16,736 4,754 39.68 209,328
PROOFPOINT INC COM 16,432 4,157 33.87 493,887
MAGNUM HUNTER RES CORP DEL COM 15,349 3,130 25.62 1,947,798
POLYONE CORP COM 14,696 4,380 42.46 344,167
EPAM SYS INC COM 14,547 2,656 22.34 364,589
KATE SPADE & CO COM 14,096 21 .15 369,790
AMTRUST FINL SVCS INC COM 13,644 2,623 23.80 330,367
FIRST NBC BK HLDG CO COM 13,566 2,078 18.09 407,994
MULTIMEDIA GAMES HLDG CO INC COM 13,162 2,918 28.48 458,589
HOMEAWAY INC COM 13,053 2,872 28.21 396,512
ALNYLAM PHARMACEUTICALS INC COM 12,465 2,593 26.27 212,961
INTERMUNE INC COM 12,363 12,363 New 293,160
NPS PHARMACEUTICALS INC COM 12,045 2,511 26.34 395,168
CAVIUM INC COM 11,788 5,319 82.21 242,653