Emerald Mutual Fund Advisers Trust 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
APPLE INC	COM	037833100	1,871	13,220	SH		SOLE		13,220	0	0
PLAYAGS INC	COM	72814N104	6,872	872,093	SH		SOLE		872,093	0	0
ADAPTHEALTH CORP	COM	00653Q102	5,916	253,994	SH		SOLE		253,994	0	0
ALTRA INDUSTRIAL MOTION CORP	COM	02208R106	9,428	170,337	SH		SOLE		170,337	0	0
ALKERMES PLC	COM	00B3P6D26	33,731	1,093,745	SH		SOLE		1,093,745	0	0
AMERESCO INC	COM	02361E108	15,351	262,727	SH		SOLE		262,727	0	0
AMAZON.COM, INC	COM	023135106	1,196	364	SH		SOLE		364	0	0
SPHERE 3D CORP	COM	84841L308	5,375	904,912	SH		SOLE		904,912	0	0
APPLIED BLOCKCHAIN INC	COM	038169108	2,903	1,451,521	SH		SOLE		1,451,521	0	0
APPLIED THERAPEUTICS INC	COM	03828A101	10,314	621,317	SH		SOLE		621,317	0	0
ARENA PHARMACEUTICALS INC	COM	040047607	10,089	169,424	SH		SOLE		169,424	0	0
ARVINAS INC	COM	04335A105	24,188	294,329	SH		SOLE		294,329	0	0
ATRICURE INC	COM	04963C209	33,903	487,462	SH		SOLE		487,462	0	0
ATEA PHARMACEUTICALS INC	COM	04683R106	4,343	123,877	SH		SOLE		123,877	0	0
AVIENT CORPORATION	COM	05368V106	36,882	795,737	SH		SOLE		795,737	0	0
AXOS FINANCIAL INC	COM	05465C100	3,196	62,003	SH		SOLE		62,003	0	0
THE AZEK COMPANY	COM	05478C105	12,002	328,558	SH		SOLE		328,558	0	0
BIOHAVEN PHARMACEUTICAL HOLDINGS	COM	G11196105	31,310	225,401	SH		SOLE		225,401	0	0
BITFARMS LTD	COM	09173B107	2,093	492,475	SH		SOLE		492,475	0	0
BJ'S RESTAURANT INC	COM	09180C106	11,314	270,939	SH		SOLE		270,939	0	0
BOOKING HOLDINGS INC	COM	09857L108	254	107	SH		SOLE		107	0	0
BANXA HOLDINGS INC	COM	06683R101	1,682	772,040	SH		SOLE		772,040	0	0
BLUEPRINT MEDICINES CORP	COM	09627Y109	25,246	245,557	SH		SOLE		245,557	0	0
BELLRING BRANDS INC	COM	079823100	34,349	1,117,033	SH		SOLE		1,117,033	0	0
BRP GROUP INC	COM	05589G102	41,651	1,251,156	SH		SOLE		1,251,156	0	0
BTCS INC	COM	05581M404	419	77,691	SH		SOLE		77,691	0	0
BABCOCK & WILCOX ENTERPRISES	COM	05614L209	1,842	287,344	SH		SOLE		287,344	0	0
BLACKSTONE INC	COM	09260D107	211	1,814	SH		SOLE		1,814	0	0
BYRNA TECHNOLOGIES INC	COM	12448X201	4,766	218,040	SH		SOLE		218,040	0	0
META FINANCIAL GROUP, INC	COM	59100U108	483	9,210	SH		SOLE		9,210	0	0
COASTAL FINANCIAL CORP	COM	19046P209	265	8,325	SH		SOLE		8,325	0	0
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	18,716	264,198	SH		SOLE		264,198	0	0
CHURCHILL DOWNS INC	COM	171484108	54,361	226,429	SH		SOLE		226,429	0	0
CHEGG INC	COM	163092109	36,675	539,177	SH		SOLE		539,177	0	0
CHUY'S HOLDINGS INC	COM	171604101	14,068	446,181	SH		SOLE		446,181	0	0
CIPHER MINING INC	COM	17253J106	7,070	683,720	SH		SOLE		683,720	0	0
CLEANSPARK INC	COM	18452B209	3,060	264,038	SH		SOLE		264,038	0	0
COMMUNITY HERITAGE FINANCIAL INC	COM	20370L103	617	26,842	SH		SOLE		26,842	0	0
CONCORD ACQUISITION CORP	COM	206071102	561	55,700	SH		SOLE		55,700	0	0
CINEMARK HOLDINGS INC	COM	17243V102	3,462	180,236	SH		SOLE		180,236	0	0
COHU INC	COM	192576106	26,131	818,137	SH		SOLE		818,137	0	0
COINBASE GLOBAL INC	COM	19260Q107	228	1,004	SH		SOLE		1,004	0	0
COLLEGIUM PHARMACEUTICAL INC	COM	19459J104	14,023	710,398	SH		SOLE		710,398	0	0
CURIS INC	COM	231269200	15,485	1,977,709	SH		SOLE		1,977,709	0	0
CANTALOUPE INC	COM	138103106	1,808	167,718	SH		SOLE		167,718	0	0
CUSTOMERS BANCORP INC	COM	23204G100	6,246	145,181	SH		SOLE		145,181	0	0
CVRx INC	COM	126638105	8,138	492,020	SH		SOLE		492,020	0	0
DIODES INCORPORATED	COM	254543101	29,526	325,932	SH		SOLE		325,932	0	0
DICKS SPORTING GOODS INC	COM	253393102	35,012	292,324	SH		SOLE		292,324	0	0
DERMTECH INC	COM	24984K105	1,927	60,000	SH		SOLE		60,000	0	0
DOCUSIGN INC	COM	256163106	228	885	SH		SOLE		885	0	0
MASONITE INTERNATIONAL CORP	COM	575385109	20,563	193,753	SH		SOLE		193,753	0	0
DICERNA PHARMACEUTICALS INC	COM	253031108	4,500	223,213	SH		SOLE		223,213	0	0
ETHER CAPITAL CORPORATION	COM	29764T101	1,121	387,930	SH		SOLE		387,930	0	0
DOUBLEVERIFY HOLDINGS INC	COM	25862V105	5,147	150,686	SH		SOLE		150,686	0	0
EASTERN BANKSHARES INC	COM	27627N105	44,690	2,201,460	SH		SOLE		2,201,460	0	0
EBIX INC	COM	278715206	261	9,676	SH		SOLE		9,676	0	0
ECHO GLOBAL LOGISTICS INC	COM	27875T101	22,260	466,568	SH		SOLE		466,568	0	0
ENTERPRISE FINL SVCS CORP	COM	293712105	3,929	86,775	SH		SOLE		86,775	0	0
GRAYSCALE ETHEREUM TRUST	COM	389638107	3,242	114,120	SH		SOLE		114,120	0	0
EVERI HOLDINGS INC	COM	30034T103	45,156	1,867,475	SH		SOLE		1,867,475	0	0
NATIONAL VISION HOLDINGS	COM	63845R107	39,282	691,944	SH		SOLE		691,944	0	0
FIRST ADVANTAGE CORP	COM	31846B108	16,028	841,385	SH		SOLE		841,385	0	0
DIAMONDBACK ENERGY INC	COM	25278X109	259	2,737	SH		SOLE		2,737	0	0
FARO TECHNOLOGIES INC	COM	311642102	15,881	241,317	SH		SOLE		241,317	0	0
FATE THERAPEUTICS INC	COM	31189P102	4,759	80,289	SH		SOLE		80,289	0	0
FACEBOOK INC	COM	30303M102	761	2,242	SH		SOLE		2,242	0	0
FLAGSTAR BANCORP INC	COM	337930705	5,217	102,736	SH		SOLE		102,736	0	0
FIRST FINL BANCSHARES INC	COM	32020R109	1,872	40,740	SH		SOLE		40,740	0	0
FIRST FOUNDATION INC	COM	32026V104	2,105	80,030	SH		SOLE		80,030	0	0
FIVE BELOW	COM	33829M101	25,632	144,972	SH		SOLE		144,972	0	0
FORMFACTOR INC	COM	346375108	15,198	407,137	SH		SOLE		407,137	0	0
FIRST REPUBLIC	COM	33616C100	4,300	22,295	SH		SOLE		22,295	0	0
FRESHPET INC	COM	358039105	58,211	407,957	SH		SOLE		407,957	0	0
FINTECH ACQUSITION CORP V CL A	COM	31810Q107	242	23,900	SH		SOLE		23,900	0	0
FORWARD AIR CORP COM	COM	349853101	19,725	237,593	SH		SOLE		237,593	0	0
GRAYSCALE BITCOIN TRUST btc	COM	389637109	3,033	89,600	SH		SOLE		89,600	0	0
GREEN DOT CORP	COM	39304D102	2,417	48,020	SH		SOLE		48,020	0	0
GENERAC HOLDINGS INC	COM	368736104	284	694	SH		SOLE		694	0	0
ALPHABET INC CLA A	COM	02079K305	1,158	433	SH		SOLE		433	0	0
GOSSAMER BIO INC	COM	38341P102	19,832	1,577,747	SH		SOLE		1,577,747	0	0
GREENRIDGE GENERATION HLDG INC	COM	39531G100	1,066	41,726	SH		SOLE		41,726	0	0
CHART INDS INC	COM	16115Q308	71,700	375,174	SH		SOLE		375,174	0	0
HANNON ARMSTRONG INFRASTRUCTURE CAPITAL	COM	41068X100	14,947	279,486	SH		SOLE		279,486	0	0
HAYWARD HOLDINGS INC	COM	421298100	13,015	585,211	SH		SOLE		585,211	0	0
H&E EQUIPMENT SERVICES INC	COM	404030108	3,752	108,091	SH		SOLE		108,091	0	0
HESS CORP	COM	42809H107	240	3,068	SH		SOLE		3,068	0	0
HIVE BLOCKCHAIN TECHNOLOGIES LTD	COM	43366H100	1,068	400,000	SH		SOLE		400,000	0	0
HOULIHAN LOKEY	COM	441593100	27,509	298,690	SH		SOLE		298,690	0	0
HUBSPOT INC	COM	443573100	433	641	SH		SOLE		641	0	0
HUT 8 MINING CORP	COM	44812T102	3,541	421,500	SH		SOLE		421,500	0	0
HORIZON THERAPEUTICS PLC	COM	G46188101	435	3,967	SH		SOLE		3,967	0	0
IKONICS CORPORATION	COM	45172K102	2,639	93,600	SH		SOLE		93,600	0	0
IMAGO BIOSCIENCES INC	COM	45250K107	10,709	534,644	SH		SOLE		534,644	0	0
ISW HOLDINGS INC	COM	45032U100	7,742	2,419,380	SH		SOLE		2,419,380	0	0
INTEGER HOLDINGS CORP	COM	45826H109	22,001	246,263	SH		SOLE		246,263	0	0
JACK IN THE BOX INC	COM	466367109	37,055	380,719	SH		SOLE		380,719	0	0
JAMF HOLDING CORP	COM	47074L105	8,735	226,761	SH		SOLE		226,761	0	0
KALVISTA PHARMACEUTICALS INC	COM	483497103	2,383	136,554	SH		SOLE		136,554	0	0
KINSALE CAPITAL GROUP INC	COM	49714P108	995	6,153	SH		SOLE		6,153	0	0
KARUNA THERAPEUTICS INC	COM	48576A100	13,653	111,604	SH		SOLE		111,604	0	0
KRATOS DEFENSE AND SECURITY	COM	50077B207	30,974	1,388,336	SH		SOLE		1,388,336	0	0
LENDINGCLUB CORP	COM	52603A208	11,920	422,082	SH		SOLE		422,082	0	0
LINBLAD EXPEDITIONS HOLDINGS	COM	535219109	9,397	644,089	SH		SOLE		644,089	0	0
CHENIERE ENERGY INC	COM	16411R208	400	4,097	SH		SOLE		4,097	0	0
LIVE OAK BANCSHARES INC	COM	53803X105	35,250	553,981	SH		SOLE		553,981	0	0
OPEN LENDING CORP	COM	68373J104	3,428	95,027	SH		SOLE		95,027	0	0
LATTICE SEMICONDUCTOR CORPORATION	COM	518415104	24,084	372,531	SH		SOLE		372,531	0	0
MARATHON DIGITAL HOLDINGS INC	COM	565788106	2,773	87,820	SH		SOLE		87,820	0	0
908 DEVICES INC	COM	65443P102	3,101	95,368	SH		SOLE		95,368	0	0
MEDIAALPHA INC	COM	58450V104	5,330	285,348	SH		SOLE		285,348	0	0
MOELIS & CO	COM	60786M105	46,752	755,652	SH		SOLE		755,652	0	0
METROPOLITAN BANK HOLDING CO	COM	591774104	5,459	64,755	SH		SOLE		64,755	0	0
MECHANICS BANK RICHMOND CA	COM	583614102	1,589	53	SH		SOLE		53	0	0
MIDWEST HOLDING INC	COM	59833J206	1,232	31,661	SH		SOLE		31,661	0	0
MONTROSE ENVIRONMENTAL GROUP	COM	615111101	32,769	530,750	SH		SOLE		530,750	0	0
MILLENIUM INVESTMENT & AQUISITION CO INC	COM	60039Q101	1,309	193,968	SH		SOLE		193,968	0	0
MERIT MED SYS INC	COM	589889104	33,905	472,218	SH		SOLE		472,218	0	0
MANNKIND CORP	COM	56400P706	15,102	3,471,826	SH		SOLE		3,471,826	0	0
MODEL N INC	COM	607525102	21,391	638,541	SH		SOLE		638,541	0	0
MID PENN BANCORP INC	COM	59540G107	4,973	180,500	SH		SOLE		180,500	0	0
MICROSOFT CORP	COM	594918104	1,710	6,065	SH		SOLE		6,065	0	0
MACOM TECHNOLOGY SOLUTIONS	COM	55405Y100	59,950	924,155	SH		SOLE		924,155	0	0
NOODLES AND COMPANY	COM	65540B105	12,065	1,022,448	SH		SOLE		1,022,448	0	0
NEOGENOMICS INC	COM	64049M209	48,185	998,858	SH		SOLE		998,858	0	0
NEWTEK BUSINESS SERVICES CORP	COM	652526203	2,995	107,990	SH		SOLE		107,990	0	0
NVIDIA CORPORATION	COM	67066G104	983	4,744	SH		SOLE		4,744	0	0
NV5 GLOBAL INC	COM	62945V109	18,390	186,568	SH		SOLE		186,568	0	0
NUVEI CORPORATION	COM	00BMGRQS8	6,305	55,020	SH		SOLE		55,020	0	0
OCEANFIRST FINANCIAL CORP	COM	675234108	13,669	638,420	SH		SOLE		638,420	0	0
OCULAR THERAPEUTIX INC	COM	67576A100	3,758	375,806	SH		SOLE		375,806	0	0
ONTO INNOVATION INC	COM	683344105	33,914	469,396	SH		SOLE		469,396	0	0
OPPFI INC	COM	68386H103	2,072	263,649	SH		SOLE		263,649	0	0
ORGANOGENESIS HOLDINGS INC	COM	68621F102	12,829	900,940	SH		SOLE		900,940	0	0
ORIC PHARMACEUTICAL	COM	68622P109	15,529	742,666	SH		SOLE		742,666	0	0
BLUE OWL CAPITAL	COM	09581B103	5,111	328,500	SH		SOLE		328,500	0	0
PAYA HOLDINGS INC	COM	70434P103	4,791	440,746	SH		SOLE		440,746	0	0
PING IDENTITY HOLDING CORP	COM	72341T103	5,610	228,330	SH		SOLE		228,330	0	0
THE CHILDREN'S PLACE INC	COM	168905107	6,563	87,202	SH		SOLE		87,202	0	0
PALOMAR HOLDINGS INC	COM	69753M105	35,535	439,630	SH		SOLE		439,630	0	0
PLANET FITNESS INC	COM	72703H101	27,087	344,843	SH		SOLE		344,843	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	45,866	1,106,803	SH		SOLE		1,106,803	0	0
PORCH GROUP INC	COM	733245104	2,454	138,780	SH		SOLE		138,780	0	0
PERFICIENT INC	COM	71375U101	50,936	440,245	SH		SOLE		440,245	0	0
PRIVIA HEALTH GROUP INC	COM	74276R102	2,676	113,584	SH		SOLE		113,584	0	0
PURE STORAGE	COM	74624M102	227	9,034	SH		SOLE		9,034	0	0
PROVIDENT BANCORP INC	COM	74383L105	1,177	73,480	SH		SOLE		73,480	0	0
POWER REIT	COM	73933H101	8,226	164,638	SH		SOLE		164,638	0	0
PAYPAL HOLDINGS INC	COM	70450Y103	2,472	9,499	SH		SOLE		9,499	0	0
Q2 HOLDINGS INC	COM	74736L109	16,922	211,160	SH		SOLE		211,160	0	0
LIVERAMP HOLDINGS INC	COM	53815P108	20,008	423,635	SH		SOLE		423,635	0	0
ULTRAGENYX PHARMACEUTICAL INC	COM	90400D108	9,188	101,877	SH		SOLE		101,877	0	0
REPLIMUNE GROUP INC	COM	76029N106	30,142	1,016,937	SH		SOLE		1,016,937	0	0
REATA PHARMACEUTICALS INC	COM	75615P103	28,253	280,816	SH		SOLE		280,816	0	0
RYMAN HOSPITALITY PROPERTIES	COM	78377T107	11,505	137,453	SH		SOLE		137,453	0	0
RIOT BLOCKCHAIN INC	COM	767292105	3,147	122,440	SH		SOLE		122,440	0	0
RAPID7 INC	COM	753422104	71,099	629,080	SH		SOLE		629,080	0	0
SAILPOINT TECHNOLOGIES HOLDINGS	COM	78781P105	28,713	669,604	SH		SOLE		669,604	0	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	10,560	38,785	SH		SOLE		38,785	0	0
SEAWORLD ENTERTAINMENT	COM	81282V100	35,169	635,736	SH		SOLE		635,736	0	0
SERVISFIRST BANCSHARES INC	COM	81768T108	2,562	32,928	SH		SOLE		32,928	0	0
SHENANDOAH TELECOMMUNICATION	COM	82312B106	5,206	164,867	SH		SOLE		164,867	0	0
SILVERGATE CAPITAL CORPORATION	COM	82837P408	25,965	224,807	SH		SOLE		224,807	0	0
SVB FINL GROUP	COM	78486Q101	5,451	8,426	SH		SOLE		8,426	0	0
SKYWATER TECHNOLOGY INC	COM	83089J108	16,514	607,123	SH		SOLE		607,123	0	0
SUPER MICRO COMPUTER INC	COM	86800U104	19,278	527,165	SH		SOLE		527,165	0	0
SCOTTS MIRACLE GRO COMPANY	COM	810186106	308	2,106	SH		SOLE		2,106	0	0
SIMPLY GOOD FOODS CO	COM	82900L102	42,815	1,241,370	SH		SOLE		1,241,370	0	0
SEMTECH CORP	COM	816850101	33,317	427,305	SH		SOLE		427,305	0	0
SUN COUNTRY AIRLINES HOLDING	COM	866683105	6,049	180,360	SH		SOLE		180,360	0	0
SOFI TECHNOLOGIES	COM	83406F102	259	16,297	SH		SOLE		16,297	0	0
S&P GLOBAL INC	COM	78409V104	216	508	SH		SOLE		508	0	0
SEASPINE HOLDINGS CORP	COM	81255T108	11,323	719,808	SH		SOLE		719,808	0	0
SQUARE INC - A	COM	852234103	2,409	10,045	SH		SOLE		10,045	0	0
SOUTHSTATE CORP	COM	840441109	5,163	69,141	SH		SOLE		69,141	0	0
STERLING CHECK CORP	COM	85917T109	9,916	381,968	SH		SOLE		381,968	0	0
SUMMIT MATERIAL	COM	86614U100	4,037	126,285	SH		SOLE		126,285	0	0
LATHAM GROUP INC	COM	51819L107	4,099	249,952	SH		SOLE		249,952	0	0
THE BANCORP INC	COM	05969A105	12,005	471,696	SH		SOLE		471,696	0	0
TRIUMPH BANCORP	COM	89679E300	24,130	240,988	SH		SOLE		240,988	0	0
THORNE HEALTHTECH INC	COM	885260109	3,963	458,110	SH		SOLE		458,110	0	0
TILLY'S INC-CLASS A SHRS	COM	886885102	9,277	662,149	SH		SOLE		662,149	0	0
TREACE MEDICAL CONCEPTS INC	COM	89455T109	6,732	250,247	SH		SOLE		250,247	0	0
TRANSMEDICS GROUP INC	COM	89377M109	11,267	340,492	SH		SOLE		340,492	0	0
TRINET GROUP IN	COM	896288107	39,724	420,006	SH		SOLE		420,006	0	0
TURNING POINT THERAPEUTICS INC	COM	90041T108	8,388	126,266	SH		SOLE		126,266	0	0
TREX INC	COM	89531P105	30,626	300,457	SH		SOLE		300,457	0	0
TRINITY CAPITAL INC	COM	896442308	9,290	577,380	SH		SOLE		577,380	0	0
TRISTATE CAPITAL HOLDINGS	COM	89678F100	1,864	88,145	SH		SOLE		88,145	0	0
TETRA TECH INC	COM	88162G103	49,570	331,925	SH		SOLE		331,925	0	0
TETRA TECHNOLOGIES	COM	88162F105	214	68,652	SH		SOLE		68,652	0	0
TWIST BIOSCIENCE CORP	COM	90184D100	2,856	26,698	SH		SOLE		26,698	0	0
UNITED THERAPEUTICS CORP DEL	COM	91307C102	33,978	184,083	SH		SOLE		184,083	0	0
VISA INC-CLASS A	COM	92826C839	256	1,148	SH		SOLE		1,148	0	0
VISTEON CORP	COM	92839U206	20,818	220,556	SH		SOLE		220,556	0	0
VIAVI SOLUTIONS INC	COM	925550105	19,832	1,259,994	SH		SOLE		1,259,994	0	0
VARONIS SYSTEMS INC	COM	922280102	57,267	941,117	SH		SOLE		941,117	0	0
VOYAGER DIGITAL LTD	COM	92919V108	5,994	599,447	SH		SOLE		599,447	0	0
WESTERN ALLIANCE BANCORP	COM	957638109	6,080	55,869	SH		SOLE		55,869	0	0
WINNEBAGO INDUSTRIES	COM	974637100	19,724	272,241	SH		SOLE		272,241	0	0
CACTUS INC	COM	127203107	4,777	126,649	SH		SOLE		126,649	0	0
PET ACQUISITION LLC	COM	71601V105	9,323	441,841	SH		SOLE		441,841	0	0
WILLIAMS SONOMA INC	COM	969904101	201	1,135	SH		SOLE		1,135	0	0
POWER AND DIGITAL INFRASTRUCTURE ACQ CORP	COM	739190106	1,179	116,660	SH		SOLE		116,660	0	0
YETI HOLDINGS INC	COM	98585X104	30,869	360,242	SH		SOLE		360,242	0	0
ZIPRECRUITER INC	COM	98980B103	222	8,027	SH		SOLE		8,027	0	0
ZVIA PBC	COM	98955K104	5,304	460,810	SH		SOLE		460,810	0	0