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EMERALD MUTUAL FUND ADVISERS TRUST

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

Q3 2025 · Filed 2025-10-30
Market Value
$1.9B
+18.7%
Holdings
238
+6
New Purchases
33
Added To
64
Closed
29
Reduced
88
Top 10 Concentration
22.2%
Turnover
26.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BE 1.83% 0.32% +1.51% $35M
SMTC 0.94% 0.00% +0.94% $18M
AGX 0.75% 0.00% +0.75% $14M
NKTR 0.70% 0.00% +0.70% $13M
MOD 1.75% 1.14% +0.61% $33M
HIMS 0.55% 0.00% +0.55% $10M
EVLV 0.54% 0.00% +0.54% $10M
CUBI 0.50% 0.00% +0.50% $9M
MRCY 1.37% 0.89% +0.48% $26M
RMBS 2.15% 1.67% +0.48% $41M
GH 1.83% 1.35% +0.48% $35M
AMSC 0.96% 0.49% +0.47% $18M
CVLT 0.92% 0.46% +0.46% $18M
TVTX 1.51% 1.06% +0.46% $29M
LASR 0.45% 0.00% +0.45% $9M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BRP 0.08% 1.27% -1.19% $1M
PLMR 0.99% 1.83% -0.84% $19M
TMDX 1.41% 2.14% -0.73% $27M
GTLS 0.00% 0.65% -0.65% $0
BBIO 1.13% 1.74% -0.62% $21M
FRPT 0.65% 1.27% -0.61% $12M
SKWD 0.98% 1.57% -0.59% $19M
FORM 0.00% 0.59% -0.59% $0
QTWO 1.13% 1.70% -0.57% $22M
PTLO 0.00% 0.53% -0.53% $0
CRS 0.60% 0.99% -0.39% $11M
RXO 0.04% 0.42% -0.38% $736K
MTSI 0.52% 0.90% -0.38% $10M
BJRI 0.52% 0.88% -0.36% $10M
MARA 0.00% 0.34% -0.34% $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 14 $9M 0.5%
Large Cap 57 $574M 30.3%
Mid Cap 93 $878M 46.3%
Small Cap 63 $362M 19.1%
Micro Cap 11 $74M 3.9%

Portfolio Analytics

Avg Market Cap
$132.6B
Median Market Cap
$4.5B
Avg P/E
47.9
Median P/E
22.2
Avg Dividend Yield
0.01%
Avg Beta
1.22
# Stocks
237
# ETFs / Funds
1

Top Holdings (238 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LFSC 3.13% 1,997,035 $59M $29.74 $10M
2 KTOS 2.83% 586,783 $54M $91.37 $14M -261,155 -30.8%
3 CRDO 2.68% 349,619 $51M $145.61 $4M -154,237 -30.6%
4 AVAV 2.35% 141,558 $45M $314.89 $4M -268 -0.2%
5 RMBS 2.15% 391,215 $41M $104.20 $14M -24,907 -6.0%
6 TTMI 1.85% 609,368 $35M $57.60 $2M -203,183 -25.0%
7 LITE 1.85% 215,680 $35M $162.71 $12M -26,407 -10.9%
8 GH 1.83% 556,009 $35M $62.48 $13M +140,235 +33.7%
9 BE 1.83% 409,435 $35M $84.57 $30M +197,433 +93.1%
10 MOD 1.75% 234,076 $33M $142.16 $15M +48,506 +26.1%
11 VRNS 1.68% 555,882 $32M $57.47 $4M +12,900 +2.4%
12 SITM 1.57% 98,689 $30M $301.31 $11M +9,492 +10.6%
13 AX 1.52% 341,262 $29M $84.65 $1M -22,764 -6.2%
14 TVTX 1.51% 1,200,942 $29M $23.90 $12M +59,514 +5.2%
15 RDNT 1.50% 372,780 $28M $76.21 $4M -50,766 -12.0%
16 EYE 1.49% 966,266 $28M $29.19 $9M +129,907 +15.5%
17 TMDX 1.41% 238,438 $27M $112.20 -$8M -17,205 -6.7%
18 TBBK 1.41% 357,098 $27M $74.89 $6M -9,631 -2.6%
19 MRCY 1.37% 336,058 $26M $77.40 $12M +72,840 +27.7%
20 VITL 1.34% 618,574 $25M $41.15 $2M +14,700 +2.4%
21 FN 1.27% 65,816 $24M $364.62 -$1M -20,167 -23.4%
22 OLLI 1.26% 185,623 $24M $128.40 -$627K
23 VSEC 1.19% 135,516 $23M $166.24 $5M +3,100 +2.3%
24 AGYS 1.14% 205,857 $22M $105.25 $794K +23,791 +13.1%
25 QTWO 1.13% 297,245 $22M $72.39 -$6M +6,271 +2.2%
26 BBIO 1.13% 411,427 $21M $51.94 -$7M -234,318 -36.3%
27 IDCC 1.11% 61,207 $21M $345.23 -$2M -41,193 -40.2%
28 MC 1.03% 273,351 $19M $71.32 $3M +5,900 +2.2%
29 AIR 1.00% 211,132 $19M $89.67 $6M +16,892 +8.7%
30 PLMR 0.99% 160,259 $19M $116.75 -$11M -29,521 -15.6%
31 SKWD 0.98% 391,303 $19M $47.56 -$7M -43,992 -10.1%
32 ESE 0.97% 87,419 $18M $211.11 $10M +40,786 +87.5%
33 LIVN 0.97% 349,664 $18M $52.38 $4M +26,202 +8.1%
34 AMSC 0.96% 307,737 $18M $59.39 $10M +93,823 +43.9%
35 SMTC 0.94% 248,436 $18M $71.45 +248,436 NEW
36 CVLT 0.92% 92,893 $18M $188.78 $10M +50,482 +119.0%
37 SPXC 0.92% 93,074 $17M $186.78 $4M +10,324 +12.5%
38 IONQ 0.90% 277,668 $17M $61.50 $10M +102,943 +58.9%
39 RSI 0.89% 825,244 $17M $20.48 $6M +82,055 +11.0%
40 ARLO 0.88% 980,066 $17M $16.95 $119K +7,565 +0.8%
41 STRL 0.88% 48,875 $17M $339.68 $9M +14,678 +42.9%
42 MIR 0.86% 704,496 $16M $23.26 $4M +150,872 +27.2%
43 BOOT 0.86% 97,953 $16M $165.72 $3M +7,893 +8.8%
44 PI 0.85% 89,329 $16M $180.75 $6M -4,688 -5.0%
45 MDGL 0.85% 35,091 $16M $458.66 $5M -1,829 -5.0%
46 MIRM 0.85% 219,038 $16M $73.31 $5M +1,496 +0.7%
47 ALGT 0.84% 260,935 $16M $60.77 $5M +67,311 +34.8%
48 PDFS 0.81% 594,610 $15M $25.82 $3M +13,200 +2.3%
49 ATI 0.79% 183,555 $15M $81.34 -$547K +4,300 +2.4%
50 COGT 0.77% 1,022,858 $15M $14.36 $8M +127,446 +14.2%
51 TREE 0.75% 220,747 $14M $64.73 $5M -25,538 -10.4%
52 AGX 0.75% 52,352 $14M $270.05 +52,352 NEW
53 ATEC 0.73% 956,049 $14M $14.54 $3M -30,054 -3.0%
54 COLL 0.73% 395,661 $14M $34.99 -$2M -154,973 -28.1%
55 MMSI 0.73% 165,730 $14M $83.23 -$3M -10,002 -5.7%
56 SKYT 0.71% 725,120 $14M $18.66 $7M +10,976 +1.5%
57 UMBF 0.71% 113,316 $13M $118.35 $616K -8,356 -6.9%
58 NKTR 0.70% 233,205 $13M $56.90 +233,205 NEW
59 CORT 0.69% 158,142 $13M $83.11 $2M +7,236 +4.8%
60 FOUR 0.69% 169,718 $13M $77.40 -$3M +10,149 +6.4%
61 WVE 0.68% 1,766,062 $13M $7.32 $334K -171,427 -8.8%
62 OSW 0.67% 600,025 $13M $21.14 $746K +14,500 +2.5%
63 FRPT 0.65% 224,970 $12M $55.11 -$8M -72,614 -24.4%
64 SEI 0.65% 308,798 $12M $39.97 $3M -7,174 -2.3%
65 FA 0.63% 772,716 $12M $15.39 -$2M -63,201 -7.6%
66 LTH 0.60% 410,492 $11M $27.60 -$1M
67 CRS 0.60% 46,062 $11M $245.54 -$5M -11,151 -19.5%
68 KALV 0.59% 917,975 $11M $12.18 $2M +149,003 +19.4%
69 LIF 0.58% 103,971 $11M $106.30 $1M -42,922 -29.2%
70 CWAN 0.56% 592,802 $11M $18.02 -$2M +13,200 +2.3%
71 PWP 0.56% 494,652 $11M $21.32 $3M +127,489 +34.7%
72 HIMS 0.55% 183,304 $10M $56.72 +183,304 NEW
73 EVLV 0.54% 1,360,062 $10M $7.55 +1,360,062 NEW
74 ARHS 0.52% 934,333 $10M $10.63 $2M
75 MTSI 0.52% 79,376 $10M $124.49 -$5M -21,143 -21.0%
76 BJRI 0.52% 323,573 $10M $30.53 -$4M +7,500 +2.4%
77 AAOI 0.52% 379,796 $10M $25.93 $317K +8,800 +2.4%
78 ONTO 0.51% 75,385 $10M $129.22 $2M
79 EVER 0.50% 416,662 $10M $22.87 $753K +53,695 +14.8%
80 CUBI 0.50% 145,032 $9M $65.37 +145,032 NEW
81 KLIC 0.48% 222,116 $9M $40.64 $3M +48,524 +27.9%
82 QBTS 0.47% 358,640 $9M $24.71 $4M +8,300 +2.4%
83 LASR 0.45% 291,108 $9M $29.63 +291,108 NEW
84 COMP 0.45% 1,069,474 $9M $8.03 $8M +1,018,371 +1992.8%
85 TRIN 0.45% 549,260 $9M $15.48 $374K -28,453 -4.9%
86 CCB 0.45% 78,182 $8M $108.17 $805K -813 -1.0%
87 RHP 0.44% 92,807 $8M $89.59 -$2M -6,749 -6.8%
88 NSSC 0.43% 189,495 $8M $42.95 $1M -38,357 -16.8%
89 AXSM 0.42% 65,505 $8M $121.45 $1M +1,570 +2.5%
90 FWRG 0.41% 498,226 $8M $15.64 $4M +239,688 +92.7%
91 SVRA 0.40% 2,151,358 $8M $3.57 $3M -35,046 -1.6%
92 ETNB 0.40% 512,051 $8M $14.70 -$4M -633,762 -55.3%
93 VC 0.39% 61,970 $7M $119.86 +61,970 NEW
94 FIVE 0.39% 47,695 $7M $154.70 $1M
95 RARE 0.39% 242,802 $7M $30.08 -$3M -52,515 -17.8%
96 TENB 0.38% 247,506 $7M $29.16 -$3M -46,866 -15.9%
97 ACAD 0.35% 315,324 $7M $21.34 -$158K -3,982 -1.2%
98 IPGP 0.35% 83,916 $7M $79.19 +83,916 NEW
99 ITGR 0.33% 60,807 $6M $103.33 -$1M +468 +0.8%
100 SOC 0.33% 355,324 $6M $17.46 -$2M +3,437 +1.0%

New Positions

SymbolValue% Port
SMTC $18M 0.94%
AGX $14M 0.75%
NKTR $13M 0.70%
HIMS $10M 0.55%
EVLV $10M 0.54%
CUBI $9M 0.50%
LASR $9M 0.45%
VC $7M 0.39%
IPGP $7M 0.35%
IMAX $5M 0.26%
HTFL $4M 0.23%
BRCB $4M 0.21%
CECO $4M 0.19%
LC $3M 0.15%
KRRO $3M 0.15%

Sold Out Positions

SymbolValue% Port
NOW —%
AUB —%
DCOM —%
FTI —%
LPX —%
PNFP —%
GTLS —%
FLOC —%
BHRB —%
RNST —%
SSB —%
CARE —%
ALKT —%
CORZ —%
FULT —%
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