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
APPLIED OPTOELECTRONICS INC	COM	03823U102	10,678	172,818	SH		SOLE		172,818	0	0
AMERIS BANCORP	COM	03076K108	9,941	206,237	SH		SOLE		206,237	0	0
ATLANTIC COAST FINANCIAL CORP	COM	048426100	1,769	225,594	SH		SOLE		225,594	0	0
ACADIA HEALTHCAREPANY INC	COM	00404A109	238	4,816	SH		SOLE		4,816	0	0
ADAMAS PHARMACEUTICALS INC	COM	00548A106	10,001	571,789	SH		SOLE		571,789	0	0
AMERICAN EAGLE OUTFITTERS INC.	COM	02553E106	4,454	369,625	SH		SOLE		369,625	0	0
AIMMUNE THERAPEUTICS INC	COM	00900T107	9,440	459,160	SH		SOLE		459,160	0	0
ALDER BIOPHARMACEUITICALS INC	COM	014339105	10,794	942,709	SH		SOLE		942,709	0	0
ALARM.COM HOLDINGS INC	COM	011642105	15,507	412,096	SH		SOLE		412,096	0	0
AMERICAN BUSINESS BK LA CALI	COM	02475L105	2,260	53,798	SH		SOLE		53,798	0	0
AFFILIATED MANAGERS GROUP INC	COM	008252108	234	1,413	SH		SOLE		1,413	0	0
ACCESS NATL CORP	COM	004337101	1,466	55,280	SH		SOLE		55,280	0	0
APOGEE ENTERPRISES INC	COM	037598109	35,012	615,966	SH		SOLE		615,966	0	0
AMERICAN RIVIERA BANK	COM	02932A106	1,340	80,000	SH		SOLE		80,000	0	0
ATRICURE INC	COM	04963C209	11,762	485,043	SH		SOLE		485,043	0	0
BROADCOM LTD	COM	Y09827109	228	979	SH		SOLE		979	0	0
AXOGEN INC	COM	05463X106	2,777	165,807	SH		SOLE		165,807	0	0
BRIDGE BANCORP INC	COM	108035106	7,506	225,409	SH		SOLE		225,409	0	0
BERRY GLOBAL GROUP INC	COM	08579W103	236	4,144	SH		SOLE		4,144	0	0
BIOHAVEN PHARMACEUTICAL HOLDINGS	COM	G11196105	8,814	352,560	SH		SOLE		352,560	0	0
BLUE BIRD CORP	COM	095306106	871	51,238	SH		SOLE		51,238	0	0
BUILDERS FIRSTSOURCE INC	COM	12008R107	160	10,464	SH		SOLE		10,464	0	0
BLUEBIRD BIO INC	COM	09609G100	15,986	152,174	SH		SOLE		152,174	0	0
BANK OF COMMERCE HOLDINGS	COM	06424J103	4,692	424,577	SH		SOLE		424,577	0	0
BOFI HLDG INC	COM	05566U108	32,056	1,351,448	SH		SOLE		1,351,448	0	0
BOX INC	COM	10316T104	9,080	497,780	SH		SOLE		497,780	0	0
BURLINGTON STORES INC	COM	122017106	13,092	142,316	SH		SOLE		142,316	0	0
FIRST BUSEY CORP	COM	319383204	1,057	36,040	SH		SOLE		36,040	0	0
BOVIE MEDICAL CORP	COM	10211F100	1,210	490,000	SH		SOLE		490,000	0	0
BYLINE BANCORP INC	COM	124411109	3,008	150,000	SH		SOLE		150,000	0	0
CADENCE BANCORP	COM	12739A100	6,602	301,740	SH		SOLE		301,740	0	0
CAROLINA FINANCIAL CORP	COM	143873107	2,424	75,000	SH		SOLE		75,000	0	0
META FINANCIAL GROUP, INC	COM	59100U108	13,855	155,673	SH		SOLE		155,673	0	0
CAVIUM INC	COM	14964U108	22,748	366,142	SH		SOLE		366,142	0	0
CNB FINL CORP PA	COM	126128107	3,677	153,402	SH		SOLE		153,402	0	0
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	17,769	443,128	SH		SOLE		443,128	0	0
CHURCHILL DOWNS INC	COM	171484108	7,713	42,081	SH		SOLE		42,081	0	0
CHEGG INC	COM	163092109	26,805	2,181,082	SH		SOLE		2,181,082	0	0
CHUY'S HOLDINGS INC	COM	171604101	7,218	308,442	SH		SOLE		308,442	0	0
CIENA CORP	COM	171779309	22,496	899,135	SH		SOLE		899,135	0	0
CITY OFFICE REIT INC	COM	178587101	3,175	250,000	SH		SOLE		250,000	0	0
CIVISTA BANCSHARES INC	COM	178867107	2,533	121,319	SH		SOLE		121,319	0	0
CLOUDERA INC	COM	18914U100	4,648	290,123	SH		SOLE		290,123	0	0
CLIFFS NATURAL RESOURCES INC	COM	18683K101	8,796	1,271,072	SH		SOLE		1,271,072	0	0
CLOVIS ONCOLOGY INC	COM	189464100	19,255	205,649	SH		SOLE		205,649	0	0
CINEMARK HOLDINGS INC	COM	17243V102	206	5,307	SH		SOLE		5,307	0	0
CONNECTONE BANCORP INC	COM	20786W107	3,975	176,261	SH		SOLE		176,261	0	0
COHERENT INC	COM	192479103	5,383	23,925	SH		SOLE		23,925	0	0
CALLON PETROLEUM CO	COM	13123X102	11,806	1,112,730	SH		SOLE		1,112,730	0	0
CIRRUS LOGIC INC	COM	172755100	5,785	92,230	SH		SOLE		92,230	0	0
CENTERSTATE BANKS INC	COM	15201P109	9,203	370,213	SH		SOLE		370,213	0	0
CAPSTAR FINANCIAL HOLDINGS	COM	14070T102	2,218	125,000	SH		SOLE		125,000	0	0
CARETRUST REIT INC	COM	14174T107	16,332	880,907	SH		SOLE		880,907	0	0
CUSTOMERS BANCORP INC	COM	23204G100	18,203	643,665	SH		SOLE		643,665	0	0
COMMERCE UNION BANCSHARES	COM	200828101	407	17,052	SH		SOLE		17,052	0	0
MASONITE INTERNATIONAL CORP	COM	575385109	22,649	299,985	SH		SOLE		299,985	0	0
DYCOM INDUSTRIES INC	COM	267475101	25,249	282,048	SH		SOLE		282,048	0	0
MERIDIAN BANCORP INC	COM	58958U103	775	45,870	SH		SOLE		45,870	0	0
CHANNELADVISOR CORP	COM	159179100	6,304	545,803	SH		SOLE		545,803	0	0
EAGLE BANCORP INC MD	COM	268948106	10,618	167,748	SH		SOLE		167,748	0	0
8X8 INC NEW	COM	282914100	29,026	1,994,886	SH		SOLE		1,994,886	0	0
ELLIE MAE INC	COM	28849P100	8,073	73,451	SH		SOLE		73,451	0	0
ENPHASE ENERGY, INC	COM	29355A107	232	268,600	SH		SOLE		268,600	0	0
EPAM SYSTEMS INC	COM	29414B104	30,565	363,477	SH		SOLE		363,477	0	0
EQUITY BANCSHARES INC	COM	29460X109	7,010	228,773	SH		SOLE		228,773	0	0
ESQUIRE FINANCIAL HOLDINGS	COM	29667J101	3,000	200,000	SH		SOLE		200,000	0	0
EAST WEST BANCORP INC	COM	27579R104	9,529	162,663	SH		SOLE		162,663	0	0
FIRST BUS FINL SVCS INC WIS	COM	319390100	1,158	50,175	SH		SOLE		50,175	0	0
FB FINANCIAL CORP	COM	30257X104	3,011	83,204	SH		SOLE		83,204	0	0
FCB FINANCIAL HOLDINGS INC	COM	30255G103	33,639	704,487	SH		SOLE		704,487	0	0
FIRST CHOICE BANK	COM	319461109	6,492	286,000	SH		SOLE		286,000	0	0
1ST CONSTITUTION BANCORP	COM	31986N102	1,339	75,856	SH		SOLE		75,856	0	0
FREEDOM BANK OF VIRGINIA	COM	35633M102	3,234	258,714	SH		SOLE		258,714	0	0
FLUSHING FINL CORP	COM	343873105	2,333	82,750	SH		SOLE		82,750	0	0
FIRST FINL BANCSHARES INC	COM	32020R109	896	20,280	SH		SOLE		20,280	0	0
FIRST FOUNDATION INC	COM	32026V104	9,498	578,105	SH		SOLE		578,105	0	0
FIVE BELOW	COM	33829M101	18,748	379,751	SH		SOLE		379,751	0	0
NATIONAL BEVERAGE CORP	COM	635017106	3,693	39,472	SH		SOLE		39,472	0	0
FIRST LONG IS CORP	COM	320734106	1,672	58,449	SH		SOLE		58,449	0	0
FARMERS NATL BANC CORP	COM	309627107	1,259	86,853	SH		SOLE		86,853	0	0
FEDERATED NATIONAL HOLDING COMPANY	COM	31422T101	640	40,000	SH		SOLE		40,000	0	0
KEANE GROUP INC	COM	48669A108	11,046	690,396	SH		SOLE		690,396	0	0
FIRST BANK	COM	31931U102	6,861	588,963	SH		SOLE		588,963	0	0
REPUBLIC FIRST BANCORP INC	COM	760416107	6,916	747,663	SH		SOLE		747,663	0	0
1ST MERCHANTS	COM	320817109	1,695	42,222	SH		SOLE		42,222	0	0
FRESHPET INC	COM	358039105	7,002	421,819	SH		SOLE		421,819	0	0
FIRST RESOURCE BANK	COM	336177100	1,104	125,475	SH		SOLE		125,475	0	0
FRANKLIN FINANCIAL NETWORK	COM	35352P104	7,835	189,940	SH		SOLE		189,940	0	0
FVCBANKCORP INC	COM	36120Q101	1,337	67,853	SH		SOLE		67,853	0	0
GERMAN AMERICAN BANCORP	COM	373865104	405	11,889	SH		SOLE		11,889	0	0
GUARANTY BANCORP DEL	COM	40075T607	4,838	177,886	SH		SOLE		177,886	0	0
GOLD COAST BANK NY	COM	38058E100	2,378	169,868	SH		SOLE		169,868	0	0
GMS INC	COM	36251C103	18,341	652,712	SH		SOLE		652,712	0	0
GREEN BANCORP INC	COM	39260X100	1,193	61,496	SH		SOLE		61,496	0	0
GUARANTY BANCSHARES INC	COM	400764106	6,390	200,000	SH		SOLE		200,000	0	0
GSV CAP CORP	COM	36191J101	764	175,979	SH		SOLE		175,979	0	0
G1 THERAPEUTICS INC	COM	3621LQ109	10,081	578,057	SH		SOLE		578,057	0	0
GRAY TELEVISION INC	COM	389375106	152	11,127	SH		SOLE		11,127	0	0
GTT COMMUNICATIONS INC	COM	362393100	27,673	874,351	SH		SOLE		874,351	0	0
GUIDEWIRE SOFTWARE INC	COM	40171V100	17,249	251,041	SH		SOLE		251,041	0	0
HOME BANCORP INC	COM	43689E107	497	11,680	SH		SOLE		11,680	0	0
HOWARD BANCORP INC	COM	442496105	7,941	412,499	SH		SOLE		412,499	0	0
HOPFED BANCORP INC	COM	439734104	229	16,003	SH		SOLE		16,003	0	0
HOME FEDERAL BANCORP	COM	43708L108	499	18,520	SH		SOLE		18,520	0	0
HERITAGE FINL CORP WASH	COM	42722X106	2,740	103,401	SH		SOLE		103,401	0	0
HEALTH INSURANCE INOVATIONS	COM	42225K106	10,550	448,955	SH		SOLE		448,955	0	0
HOME BANCSHARES INC	COM	436893200	4,970	199,592	SH		SOLE		199,592	0	0
HERITAGE COMMERCE CORP	COM	426927109	1,911	138,670	SH		SOLE		138,670	0	0
INDEPENENT BANK CORP	COM	453838609	1,088	50,000	SH		SOLE		50,000	0	0
INSTALLED BUILDING PRODUCTS	COM	45780R101	37,877	715,344	SH		SOLE		715,344	0	0
INDEPENDENT BANK GROUP INC	COM	45384B106	936	15,731	SH		SOLE		15,731	0	0
COUNTY BANCORP INC	COM	221907108	861	35,869	SH		SOLE		35,869	0	0
IMPERVA INC	COM	45321L100	22,139	462,680	SH		SOLE		462,680	0	0
INTERNAP CORP	COM	45885A300	2,514	685,018	SH		SOLE		685,018	0	0
INDEPENDENT BK CORP MASS	COM	453836108	1,016	15,250	SH		SOLE		15,250	0	0
INSMED INC	COM	457669307	17,783	1,036,283	SH		SOLE		1,036,283	0	0
INNOSPEC INC	COM	45768S105	10,158	154,962	SH		SOLE		154,962	0	0
IPG PHOTONICS CORP	COM	44980X109	18,533	127,729	SH		SOLE		127,729	0	0
INPHI CORP	COM	45772F107	6,789	197,921	SH		SOLE		197,921	0	0
INDEPENDENCE REALTY TRUST INC	COM	45378A106	916	92,800	SH		SOLE		92,800	0	0
INVESTAR HOLDIN	COM	46134L105	5,902	257,712	SH		SOLE		257,712	0	0
INTEGER HOLDINGS CORP	COM	45826H109	8,633	199,617	SH		SOLE		199,617	0	0
JACK IN THE BOX INC	COM	466367109	12,936	131,327	SH		SOLE		131,327	0	0
JOHN MARSHALL BANCORP INC	COM	47805L101	1,250	60,120	SH		SOLE		60,120	0	0
JONES ENERGY INC	COM	48019R108	62	38,498	SH		SOLE		38,498	0	0
JAMES RIVER GROUP HOLDINGS	COM	G5005R107	1,987	50,000	SH		SOLE		50,000	0	0
KINGSTONE INC	COM	496719105	2,831	185,000	SH		SOLE		185,000	0	0
KLX INC	COM	482539103	24,402	488,046	SH		SOLE		488,046	0	0
KENNAMETAL INC	COM	489170100	19,200	513,101	SH		SOLE		513,101	0	0
KNOLL INC	COM	498904200	3,628	180,939	SH		SOLE		180,939	0	0
KINSALE CAPITAL GROUP INC	COM	49714P108	1,775	47,570	SH		SOLE		47,570	0	0
THE KROGER CO	COM	501044101	206	8,829	SH		SOLE		8,829	0	0
KRATOS DEFENSE AND SECURITY	COM	50077B207	19,332	1,628,657	SH		SOLE		1,628,657	0	0
K2M GROUP HOLDINGS INC	COM	48273J107	22,439	921,137	SH		SOLE		921,137	0	0
LAKELAND BANCORP INC	COM	511637100	1,240	65,781	SH		SOLE		65,781	0	0
LEAF GROUP LTD	COM	52177G102	1,410	180,809	SH		SOLE		180,809	0	0
LUMENTUM HOLDINGS INC	COM	55024U109	25,105	440,056	SH		SOLE		440,056	0	0
LAKELAND FINL CORP	COM	511656100	2,139	46,615	SH		SOLE		46,615	0	0
LIVE OAK BANCSHARES INC	COM	53803X105	5,611	231,850	SH		SOLE		231,850	0	0
LEGACYTEXAS FINANCIAL GROUP	COM	52471Y106	2,562	67,200	SH		SOLE		67,200	0	0
MATTHEWS INTL CORP CL A	COM	577128101	11,616	189,648	SH		SOLE		189,648	0	0
MERCANTILE BANK CORP	COM	587376104	2,766	87,881	SH		SOLE		87,881	0	0
MOELIS & CO	COM	60786M105	14,271	367,335	SH		SOLE		367,335	0	0
MECHANICS BANK RICHMOND CA	COM	583614102	909	30	SH		SOLE		30	0	0
THE MARCUS CORP	COM	566330106	8,279	274,130	SH		SOLE		274,130	0	0
MDC PARTNERS INC-A	COM	552697104	136	13,711	SH		SOLE		13,711	0	0
MGM RESORTS INTERNATIONAL	COM	552953101	287	9,168	SH		SOLE		9,168	0	0
MACROGENICS INC	COM	556099109	6,271	358,161	SH		SOLE		358,161	0	0
MITEL NETWORKS	COM	60671Q104	130	17,745	SH		SOLE		17,745	0	0
MALVERN BANCORP INC	COM	561409103	6,203	259,003	SH		SOLE		259,003	0	0
MODEL N INC	COM	607525102	8,619	648,075	SH		SOLE		648,075	0	0
MIDWESTONE FINANCIAL GROUP INC	COM	598511103	5,114	150,908	SH		SOLE		150,908	0	0
MERCURY SYSTEMS INC	COM	589378108	22,970	545,733	SH		SOLE		545,733	0	0
MEDEQUITIES REALTY TRUST INC	COM	58409L306	3,341	264,728	SH		SOLE		264,728	0	0
MIDLAND STATES BANCORP INC	COM	597742105	1,795	53,546	SH		SOLE		53,546	0	0
MICROSEMI CORP	COM	595137100	17,902	382,521	SH		SOLE		382,521	0	0
MAINSOURCE FINANCIAL GROUP	COM	56062Y102	1,489	44,420	SH		SOLE		44,420	0	0
MICROSTRATEGY INC	COM	594972408	27,145	141,623	SH		SOLE		141,623	0	0
MERITAGE CORP	COM	59001A102	7,580	179,626	SH		SOLE		179,626	0	0
MACOM TECHNOLOGY SOLUTIONS	COM	55405Y100	4,545	81,489	SH		SOLE		81,489	0	0
MANITOWOC COMPANY	COM	563571108	6,852	1,140,032	SH		SOLE		1,140,032	0	0
MULESOFT INC	COM	625207105	3,118	125,000	SH		SOLE		125,000	0	0
MAXLINEAR INC CLASS A	COM	57776J100	9,874	354,040	SH		SOLE		354,040	0	0
NATIONAL CAPITAL BANK OF WASHINGTON	COM	635162100	317	1,716	SH		SOLE		1,716	0	0
NEUROCRINE BIOSCIENCES, INC	COM	64125C109	3,782	82,212	SH		SOLE		82,212	0	0
NICHOLET BANKSHARES INC	COM	65406E102	2,629	48,060	SH		SOLE		48,060	0	0
NATIONAL COMMERCE CORP	COM	63546L102	18,159	459,135	SH		SOLE		459,135	0	0
NEOGENOMICS INC	COM	64049M209	8,131	907,529	SH		SOLE		907,529	0	0
NANTHEALTH INC	COM	630104107	1,887	446,079	SH		SOLE		446,079	0	0
NMI HOLDINGS INC	COM	629209305	863	75,340	SH		SOLE		75,340	0	0
SERVICENOW INC	COM	81762P102	208	1,958	SH		SOLE		1,958	0	0
NUTRI SYS INC NEW	COM	67069D108	24,998	480,271	SH		SOLE		480,271	0	0
NV5 GLOBAL INC	COM	62945V109	4,240	99,766	SH		SOLE		99,766	0	0
NEXSTAR MEDIA GROUP INC	COM	65336K103	22,524	376,649	SH		SOLE		376,649	0	0
OBALON THERAPEUTICS INC	COM	67424L100	331	33,353	SH		SOLE		33,353	0	0
OCEANFIRST FINANCIAL CORP	COM	675234108	5,039	185,812	SH		SOLE		185,812	0	0
OCLARO INC	COM	67555N206	13,937	1,492,134	SH		SOLE		1,492,134	0	0
OLD LINE BANCSHARES INC	COM	67984M100	5,737	203,594	SH		SOLE		203,594	0	0
OLLIE'S BARGAIN OUTLET HOLDINGS	COM	681116109	20,768	487,515	SH		SOLE		487,515	0	0
OPUS BANK	COM	684000102	11,288	466,433	SH		SOLE		466,433	0	0
BANK OF THE OZARKS INC	COM	063904106	40,127	856,139	SH		SOLE		856,139	0	0
PARAGON COMMERCIAL CORP	COM	69911U403	3,961	75,493	SH		SOLE		75,493	0	0
PUMA BIOTECHNOLOGY INC	COM	74587V107	21,679	248,038	SH		SOLE		248,038	0	0
PDC ENERGY INC	COM	69327R101	7,474	173,360	SH		SOLE		173,360	0	0
PENN NATL GAMING INC	COM	707569109	5,160	241,099	SH		SOLE		241,099	0	0
PROFESSIONAL HOLDING CORP	COM	743139107	3,152	240,584	SH		SOLE		240,584	0	0
PROOFPOINT INC	COM	743424103	27,534	317,104	SH		SOLE		317,104	0	0
DAVE & BUSTER'S ENTERTAINMENT INC.	COM	238337109	8,441	126,913	SH		SOLE		126,913	0	0
PLANET FITNESS INC	COM	72703H101	13,714	587,592	SH		SOLE		587,592	0	0
PACIFIC MERCANTILE BANCORP	COM	694552100	5,274	599,284	SH		SOLE		599,284	0	0
PINNACLE FINL PARTNERS INC	COM	72346Q104	8,378	133,412	SH		SOLE		133,412	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	30,119	816,241	SH		SOLE		816,241	0	0
PRIMORIS SERVICES CORP	COM	74164F103	17,321	694,516	SH		SOLE		694,516	0	0
PORTOLA PHARMACEUTICALS INC	COM	737010108	20,373	362,711	SH		SOLE		362,711	0	0
PEOPLE'S UTAH BANCORP	COM	712706209	5,784	215,808	SH		SOLE		215,808	0	0
PUGET SOUND BANCORP INC	COM	74532B107	2,792	114,430	SH		SOLE		114,430	0	0
QCR HOLDINGS INC	COM	74727A104	4,420	93,253	SH		SOLE		93,253	0	0
QUANTENNA COMMUNICATIONS	COM	74766D100	2,470	130,010	SH		SOLE		130,010	0	0
QTS REALTY TRUST INC	COM	74736A103	20,882	399,051	SH		SOLE		399,051	0	0
Q2 HOLDINGS INC	COM	74736L109	2,391	64,716	SH		SOLE		64,716	0	0
REIS INC	COM	75936P105	4,697	221,026	SH		SOLE		221,026	0	0
REATA PHARMACEUTICALS INC	COM	75615P103	9,300	293,927	SH		SOLE		293,927	0	0
RED ROBIN GOURMET BURGERS INC	COM	75689M101	9,135	140,006	SH		SOLE		140,006	0	0
IGNYTA INC	COM	451731103	12,018	1,161,202	SH		SOLE		1,161,202	0	0
SAGE THERAPEUTICS INC	COM	78667J108	11,968	150,273	SH		SOLE		150,273	0	0
SPIRIT AIRLS INC	COM	848577102	23,570	456,332	SH		SOLE		456,332	0	0
SBA COMMUNICATIONS CORP CL A	COM	78410G104	229	1,695	SH		SOLE		1,695	0	0
SUSSEX BANCORP	COM	869245100	4,450	182,747	SH		SOLE		182,747	0	0
SUNSHINE BANCORP INC	COM	86777J108	2,211	103,767	SH		SOLE		103,767	0	0
SEACOAST COMMERCE BANK	COM	81171B108	1,622	78,338	SH		SOLE		78,338	0	0
SERVISFIRST BANCSHARES INC	COM	81768T108	9,449	256,130	SH		SOLE		256,130	0	0
SIMMONS FIRST NATIONAL CORPORATION	COM	828730200	3,446	65,136	SH		SOLE		65,136	0	0
SOUTHERN FIRST BANCSHARES	COM	842873101	2,632	71,032	SH		SOLE		71,032	0	0
SHENANDOAH TELECOMMUNICATION	COM	82312B106	1,742	56,758	SH		SOLE		56,758	0	0
MADDEN STEVEN LTD	COM	556269108	12,885	322,534	SH		SOLE		322,534	0	0
SVB FINL GROUP	COM	78486Q101	9,352	53,199	SH		SOLE		53,199	0	0
US SILICA HOLDINGS INC	COM	90346E103	12,790	360,370	SH		SOLE		360,370	0	0
SMARTFINANCIAL INC	COM	83190L208	2,388	100,000	SH		SOLE		100,000	0	0
SOLARIS OILFIELD INFRASTRUCTURE INC	COM	83418M103	3,459	300,000	SH		SOLE		300,000	0	0
SOUTHERN NATL BANCORP OF VA	COM	843395104	363	20,598	SH		SOLE		20,598	0	0
SEQUENTIAL BRANDS GROUP INC	COM	81734P107	4,365	1,094,073	SH		SOLE		1,094,073	0	0
1ST SOURCE CORP	COM	336901103	4,794	100,000	SH		SOLE		100,000	0	0
SRC ENERGY INC	COM	78470V108	69	10,195	SH		SOLE		10,195	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	22,864	678,270	SH		SOLE		678,270	0	0
STEWARDSHIP FINANCIAL CORPORATION	COM	860326107	2,820	300,000	SH		SOLE		300,000	0	0
STERLING BANCORP	COM	85917A100	9,301	400,023	SH		SOLE		400,023	0	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	17,553	407,260	SH		SOLE		407,260	0	0
THE BANCORP INC	COM	05969A105	3,063	404,137	SH		SOLE		404,137	0	0
TRIUMPH BANCORP	COM	89679E300	972	39,610	SH		SOLE		39,610	0	0
TEXAS CAPITAL BANCSHARES INC	COM	88224Q107	8,201	105,959	SH		SOLE		105,959	0	0
TELADOC INC	COM	87918A105	17,713	510,470	SH		SOLE		510,470	0	0
TILLY'S INC-CLASS A SHRS	COM	886885102	6,353	625,910	SH		SOLE		625,910	0	0
TIMKENSTEEL CORP	COM	887399103	9,526	619,765	SH		SOLE		619,765	0	0
TENNANT CO	COM	880345103	13,353	180,936	SH		SOLE		180,936	0	0
TUTOR PERINI CORPORATION	COM	901109108	20,898	726,881	SH		SOLE		726,881	0	0
LENDINGTREE INC	COM	52603B107	52,493	304,839	SH		SOLE		304,839	0	0
TREX INC	COM	89531P105	30,138	445,430	SH		SOLE		445,430	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	3,575	237,543	SH		SOLE		237,543	0	0
TRISTATE CAPITAL HOLDINGS	COM	89678F100	4,884	193,816	SH		SOLE		193,816	0	0
TETRA TECH INC	COM	88162G103	20,806	454,783	SH		SOLE		454,783	0	0
TILE SHOP HLDGS INC	COM	88677Q109	17,686	856,455	SH		SOLE		856,455	0	0
TAKE TWO INTERACTIVE SOFTWARE	COM	874054109	17,126	233,386	SH		SOLE		233,386	0	0
HOSTESS BRANDS INC	COM	44109J106	19,833	1,231,883	SH		SOLE		1,231,883	0	0
UNITED COMMUNITY BANKS	COM	90984P303	2,830	101,784	SH		SOLE		101,784	0	0
UNITED INS HLDGS CORP	COM	910710102	495	31,441	SH		SOLE		31,441	0	0
UNITY BANCORP INC	COM	913290102	2,903	168,750	SH		SOLE		168,750	0	0
US CONCRETE INC	COM	90333L201	23,780	302,734	SH		SOLE		302,734	0	0
VERITEX HOLDINGS INC	COM	923451108	1,593	60,517	SH		SOLE		60,517	0	0
VEEVA SYSTEMS INC	COM	922475108	23,656	385,844	SH		SOLE		385,844	0	0
VONAGE HOLDINGS CORP	COM	92886T201	26,892	4,111,972	SH		SOLE		4,111,972	0	0
VARONIS SYSTEMS INC	COM	922280102	21,593	580,463	SH		SOLE		580,463	0	0
WABTEC CORPORATION	COM	929740108	253	2,762	SH		SOLE		2,762	0	0
WESTERN ALLIANCE BANCORP	COM	957638109	9,192	186,834	SH		SOLE		186,834	0	0
WATERSTONE FINANCIAL INC	COM	94188P101	754	40,000	SH		SOLE		40,000	0	0
WSFS FINANCIAL CORPORATION	COM	929328102	7,692	169,608	SH		SOLE		169,608	0	0
WEST TOWN BANK & TRUST	COM	956308100	2,600	109,942	SH		SOLE		109,942	0	0
YEXT INC	COM	98585N106	400	30,000	SH		SOLE		30,000	0	0
ZAGG INC	COM	98884U108	180	20,838	SH		SOLE		20,838	0	0