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EMERALD MUTUAL FUND ADVISERS TRUST

3175 OREGON PIKE, LEOLA, PA 17540 • 717-556-8900

Q2 2025 · Filed 2025-08-04
Market Value
$1.6B
+19.1%
Holdings
232
+2
New Purchases
27
Added To
63
Closed
27
Reduced
67
Top 10 Concentration
22.2%
Turnover
23.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AVAV 2.53% 1.16% +1.36% $40M
MRCY 0.89% 0.00% +0.89% $14M
TMDX 2.14% 1.32% +0.83% $34M
TTMI 2.07% 1.35% +0.72% $33M
MIRM 0.69% 0.00% +0.69% $11M
CRDO 2.92% 2.24% +0.68% $47M
SITM 1.19% 0.55% +0.64% $19M
EYE 1.20% 0.60% +0.61% $19M
ESE 0.56% 0.00% +0.56% $9M
AGYS 1.31% 0.75% +0.56% $21M
STRL 0.49% 0.00% +0.49% $8M
KTOS 2.46% 1.97% +0.49% $39M
RMBS 1.67% 1.18% +0.49% $27M
ONTO 0.48% 0.00% +0.48% $8M
AMSC 0.49% 0.02% +0.47% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
INSM 0.16% 2.01% -1.85% $3M
BPMC 0.00% 1.65% -1.65% $0
GTLS 0.65% 1.75% -1.11% $10M
LPX 0.10% 0.98% -0.89% $2M
FRPT 1.27% 1.94% -0.68% $20M
CRS 0.99% 1.63% -0.65% $16M
OFIX 0.03% 0.63% -0.60% $420K
CHDN 0.00% 0.57% -0.57% $0
SKWD 1.57% 2.14% -0.57% $25M
PLMR 1.83% 2.32% -0.49% $29M
LIVN 0.91% 1.38% -0.47% $15M
NEO 0.00% 0.46% -0.46% $0
MMSI 1.03% 1.49% -0.46% $16M
TVTX 1.06% 1.50% -0.44% $17M
WHD 0.00% 0.42% -0.42% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 24.7%
Industrials 22.4%
Healthcare 22.3%
Financial Services 15.3%
Consumer Cyclical 9.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 15 $12M 0.7%
Large Cap 54 $427M 26.7%
Mid Cap 90 $783M 49.0%
Small Cap 61 $311M 19.5%
Micro Cap 12 $66M 4.1%

Portfolio Analytics

Avg Market Cap
$137.7B
Median Market Cap
$4.5B
Avg P/E
45.2
Median P/E
20.8
Avg Dividend Yield
0.01%
Avg Beta
1.17
# Stocks
231
# ETFs / Funds
1

Top Holdings (232 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LFSC 3.08% 1,997,035 $49M $24.62 $4M
2 CRDO 2.92% 503,856 $47M $92.59 $17M -244,995 -32.7%
3 AVAV 2.53% 141,826 $40M $284.95 $25M +10,750 +8.2%
4 KTOS 2.46% 847,938 $39M $46.45 $13M -44,878 -5.0%
5 TMDX 2.14% 255,643 $34M $134.01 $17M -6,928 -2.6%
6 TTMI 2.07% 812,551 $33M $40.82 $15M -74,150 -8.4%
7 PLMR 1.83% 189,780 $29M $154.25 -$2M -37,386 -16.5%
8 BBIO 1.74% 645,745 $28M $43.18 $3M -78,609 -10.8%
9 AX 1.73% 364,026 $28M $76.04 $4M
10 VRNS 1.72% 542,982 $28M $50.75 $6M
11 QTWO 1.70% 290,974 $27M $93.59 $4M +529 +0.2%
12 RMBS 1.67% 416,122 $27M $64.02 $11M +110,016 +35.9%
13 FN 1.59% 85,983 $25M $294.68 $8M
14 SKWD 1.57% 435,295 $25M $57.79 -$4M -107,236 -19.8%
15 OLLI 1.53% 185,623 $24M $131.78 $5M +16,404 +9.7%
16 RDNT 1.51% 423,546 $24M $56.91 $3M -7,467 -1.7%
17 VITL 1.46% 603,874 $23M $38.52 $5M
18 LITE 1.44% 242,087 $23M $95.06 $8M +517 +0.2%
19 IDCC 1.44% 102,400 $23M $224.23 $4M +11,824 +13.1%
20 GH 1.35% 415,774 $22M $52.04 $8M +88,491 +27.0%
21 TBBK 1.31% 366,729 $21M $56.97 $4M +51,985 +16.5%
22 AGYS 1.31% 182,066 $21M $114.64 $11M +43,395 +31.3%
23 FRPT 1.27% 297,584 $20M $67.96 -$6M -15,713 -5.0%
24 BRP 1.27% 472,351 $20M $42.81 -$74K +18,211 +4.0%
25 EYE 1.20% 836,359 $19M $23.01 $11M +209,917 +33.5%
26 SITM 1.19% 89,197 $19M $213.08 $12M +40,736 +84.1%
27 MOD 1.14% 185,570 $18M $98.50 $5M +15,480 +9.1%
28 VSEC 1.09% 132,416 $17M $130.98 $9M +61,392 +86.4%
29 TVTX 1.06% 1,141,428 $17M $14.80 -$3M +19,542 +1.7%
30 MC 1.04% 267,451 $17M $62.32 -$912K -33,773 -11.2%
31 ARLO 1.03% 972,501 $16M $16.96 $7M +2,093 +0.2%
32 MMSI 1.03% 175,732 $16M $93.48 -$4M -13,018 -6.9%
33 COLL 1.02% 550,634 $16M $29.57 -$854K -23,446 -4.1%
34 FOUR 0.99% 159,569 $16M $99.11 $3M +1,564 +1.0%
35 CRS 0.99% 57,213 $16M $276.38 -$6M -63,899 -52.8%
36 ATI 0.97% 179,255 $15M $86.34 -$3M -169,768 -48.6%
37 LIVN 0.91% 323,462 $15M $45.02 -$4M -149,073 -31.6%
38 MTSI 0.90% 100,519 $14M $143.29 $3M -8,706 -8.0%
39 MRCY 0.89% 263,218 $14M $53.86 +263,218 NEW
40 BJRI 0.88% 316,073 $14M $44.60 $3M
41 FA 0.87% 835,917 $14M $16.61 $4M +121,770 +17.1%
42 SPXC 0.87% 82,750 $14M $167.68 $3M
43 BOOT 0.86% 90,060 $14M $152.00 $4M +2,467 +2.8%
44 AIR 0.84% 194,240 $13M $68.79 -$2M -86,821 -30.9%
45 UMBF 0.80% 121,672 $13M $105.16 $4M +36,460 +42.8%
46 CWAN 0.80% 579,602 $13M $21.93 $5M +307,165 +112.8%
47 WVE 0.79% 1,937,489 $13M $6.50 -$3M +6,669 +0.3%
48 LTH 0.78% 410,492 $12M $30.33 $327K +9,059 +2.3%
49 PDFS 0.78% 581,410 $12M $21.38 $613K -37,000 -6.0%
50 OSW 0.75% 585,525 $12M $20.39 $3M +44,343 +8.2%
51 MIR 0.75% 553,624 $12M $21.53 $5M +46,508 +9.2%
52 ETNB 0.70% 1,145,813 $11M $9.82 $3M +62,840 +5.8%
53 MDGL 0.70% 36,920 $11M $302.64 -$498K +1,682 +4.8%
54 CORT 0.69% 150,906 $11M $73.40 $7M +113,088 +299.0%
55 RSI 0.69% 743,189 $11M $14.90 $7M +395,146 +113.5%
56 MIRM 0.69% 217,542 $11M $50.89 +217,542 NEW
57 ATEC 0.68% 986,103 $11M $11.10 $767K -17,675 -1.8%
58 RARE 0.67% 295,317 $11M $36.36 -$2M -45,658 -13.4%
59 ALGT 0.67% 193,624 $11M $54.95 $2M +30,476 +18.7%
60 PI 0.65% 94,017 $10M $111.07 $2M
61 GTLS 0.65% 63,069 $10M $164.65 -$13M -100,103 -61.4%
62 TENB 0.62% 294,372 $10M $33.78 -$2M -59,006 -16.7%
63 RHP 0.61% 99,556 $10M $98.67 -$12K -8,005 -7.4%
64 LIF 0.60% 146,893 $10M $65.25 $4M
65 AAOI 0.60% 370,996 $10M $25.69 $4M
66 FORM 0.59% 272,800 $9M $34.41 -$1M -101,810 -27.2%
67 TREE 0.57% 246,285 $9M $37.07 -$3M -3,220 -1.3%
68 ESE 0.56% 46,633 $9M $191.87 +46,633 NEW
69 SEI 0.56% 315,972 $9M $28.29 $1M -25,902 -7.6%
70 EVER 0.55% 362,967 $9M $24.18 $393K +42,870 +13.4%
71 KALV 0.54% 768,972 $9M $11.30 $2M +160,759 +26.4%
72 PTLO 0.53% 731,603 $9M $11.67 -$161K
73 TRIN 0.51% 577,713 $8M $14.07 -$630K
74 ARHS 0.51% 934,333 $8M $8.67 -$28K
75 STRL 0.49% 34,197 $8M $230.73 +34,197 NEW
76 AMSC 0.49% 213,914 $8M $36.69 $8M +201,317 +1598.1%
77 SOC 0.48% 351,887 $8M $21.98 $3M +177,733 +102.1%
78 CCB 0.48% 78,995 $8M $96.87 $2M +14,122 +21.8%
79 ONTO 0.48% 75,385 $8M $100.93 +75,385 NEW
80 IONQ 0.47% 174,725 $8M $42.97 +174,725 NEW
81 ITGR 0.46% 60,339 $7M $122.97 $5M +43,225 +252.6%
82 CVLT 0.46% 42,411 $7M $174.33 $2M +6,599 +18.4%
83 AKRO 0.45% 136,297 $7M $53.36 -$1M -70,738 -34.2%
84 PWP 0.45% 367,163 $7M $19.42 $3M +160,737 +77.9%
85 SKYT 0.44% 714,144 $7M $9.84 $3M +111,847 +18.6%
86 CCOI 0.44% 144,344 $7M $48.21 -$2M
87 ACAD 0.43% 319,306 $7M $21.57 -$1M -175,778 -35.5%
88 NSSC 0.42% 227,852 $7M $29.69 $2M +6,678 +3.0%
89 RXO 0.42% 427,129 $7M $15.72 -$3M -68,055 -13.7%
90 AXSM 0.42% 63,935 $7M $104.39 +63,935 NEW
91 COGT 0.40% 895,412 $6M $7.18 +895,412 NEW
92 EE 0.40% 219,194 $6M $29.32 +219,194 NEW
93 FIVE 0.39% 47,695 $6M $131.18 $5M +37,101 +350.2%
94 BOW 0.38% 161,812 $6M $37.53 -$505K
95 KLIC 0.38% 173,592 $6M $34.60 -$543K -25,000 -12.6%
96 MARA 0.34% 347,214 $5M $15.68 $3M +165,688 +91.3%
97 ASIC 0.32% 239,964 $5M $21.52 +239,964 NEW
98 QBTS 0.32% 350,340 $5M $14.64 +350,340 NEW
99 BE 0.32% 212,002 $5M $23.92 $900K -172 -0.1%
100 SVRA 0.31% 2,186,404 $5M $2.28 -$595K +171,948 +8.5%

New Positions

SymbolValue% Port
MRCY $14M 0.89%
MIRM $11M 0.69%
ESE $9M 0.56%
STRL $8M 0.49%
ONTO $8M 0.48%
IONQ $8M 0.47%
AXSM $7M 0.42%
COGT $6M 0.40%
EE $6M 0.40%
ASIC $5M 0.32%
QBTS $5M 0.32%
SLDE $4M 0.27%
FWRG $4M 0.26%
AII $4M 0.25%
OMDA $3M 0.18%

Sold Out Positions

SymbolValue% Port
IBP —%
CRK —%
WHD —%
FNB —%
MTB —%
KEY —%
FHN —%
PINS —%
HOMB —%
CHDN —%
STC —%
ASML —%
WTTR —%
CVRX —%
FCNCA —%
View SEC EDGAR Filings for EMERALD MUTUAL FUND ADVISERS TRUST →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms