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	4,778	73,886	SH		SOLE		73,886	0	0
ATLAS AIR WORLDWIDE HOLDING	COM	049164205	4,951	75,247	SH		SOLE		75,247	0	0
AMERIS BANCORP	COM	03076K108	9,899	206,237	SH		SOLE		206,237	0	0
ATLANTIC COAST FINANCIAL CORP	COM	048426100	1,987	225,594	SH		SOLE		225,594	0	0
ACADIA HEALTHCAREPANY INC	COM	00404A109	202	4,239	SH		SOLE		4,239	0	0
ADAMAS PHARMACEUTICALS INC	COM	00548A106	11,219	529,937	SH		SOLE		529,937	0	0
AIMMUNE THERAPEUTICS INC	COM	00900T107	11,197	451,660	SH		SOLE		451,660	0	0
ALDER BIOPHARMACEUITICALS INC	COM	014339105	15,564	1,270,555	SH		SOLE		1,270,555	0	0
ALARM.COM HOLDINGS INC	COM	011642105	18,618	412,096	SH		SOLE		412,096	0	0
AMERICAN BUSINESS BK LA CALI	COM	02475L105	2,261	59,178	SH		SOLE		59,178	0	0
AFFILIATED MANAGERS GROUP INC	COM	008252108	207	1,090	SH		SOLE		1,090	0	0
ACCESS NATL CORP	COM	004337101	1,584	55,280	SH		SOLE		55,280	0	0
APOGEE ENTERPRISES INC	COM	037598109	25,298	524,208	SH		SOLE		524,208	0	0
AMERICAN RIVIERA BANK	COM	02932A106	1,348	80,000	SH		SOLE		80,000	0	0
ALLEGHENY TECHNOLOGIES INC	COM	01741R102	1,866	78,080	SH		SOLE		78,080	0	0
ATRICURE INC	COM	04963C209	11,167	499,190	SH		SOLE		499,190	0	0
AIR TRANSPORT SERVICES GROUP	COM	00922R105	8,770	360,313	SH		SOLE		360,313	0	0
BROADCOM LTD	COM	Y09827109	208	856	SH		SOLE		856	0	0
BRIDGE BANCORP INC	COM	108035106	7,653	225,409	SH		SOLE		225,409	0	0
BERRY GLOBAL GROUP INC	COM	08579W103	207	3,658	SH		SOLE		3,658	0	0
BIOHAVEN PHARMACEUTICAL HOLDINGS	COM	G11196105	7,483	200,186	SH		SOLE		200,186	0	0
BLUE BIRD CORP	COM	095306106	1,056	51,238	SH		SOLE		51,238	0	0
BUILDERS FIRSTSOURCE INC	COM	12008R107	188	10,464	SH		SOLE		10,464	0	0
BLUEBIRD BIO INC	COM	09609G100	20,314	147,897	SH		SOLE		147,897	0	0
BANK OF COMMERCE HOLDINGS	COM	06424J103	4,883	424,577	SH		SOLE		424,577	0	0
BOFI HLDG INC	COM	05566U108	31,691	1,113,135	SH		SOLE		1,113,135	0	0
BOX INC	COM	10316T104	13,949	721,990	SH		SOLE		721,990	0	0
THE BANK OF PRINCETON	COM	064520109	3,199	100,000	SH		SOLE		100,000	0	0
BURLINGTON STORES INC	COM	122017106	13,610	142,575	SH		SOLE		142,575	0	0
FIRST BUSEY CORP	COM	319383204	1,130	36,040	SH		SOLE		36,040	0	0
BOVIE MEDICAL CORP	COM	10211F100	1,656	490,000	SH		SOLE		490,000	0	0
BYLINE BANCORP INC	COM	124411109	5,066	238,282	SH		SOLE		238,282	0	0
CADENCE BANCORP	COM	12739A100	8,065	351,883	SH		SOLE		351,883	0	0
CAROLINA FINANCIAL CORP	COM	143873107	5,210	145,214	SH		SOLE		145,214	0	0
META FINANCIAL GROUP, INC	COM	59100U108	11,397	145,372	SH		SOLE		145,372	0	0
CASS INFORMATION SYS INC	COM	14808P109	943	14,870	SH		SOLE		14,870	0	0
CAVIUM INC	COM	14964U108	19,475	295,344	SH		SOLE		295,344	0	0
CNB FINL CORP PA	COM	126128107	4,874	178,402	SH		SOLE		178,402	0	0
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	19,481	398,378	SH		SOLE		398,378	0	0
COMMUNITY HEALTHCARE TRUST	COM	20369C106	4,089	151,666	SH		SOLE		151,666	0	0
CHURCHILL DOWNS INC	COM	171484108	6,653	32,264	SH		SOLE		32,264	0	0
CHEGG INC	COM	163092109	33,043	2,226,645	SH		SOLE		2,226,645	0	0
CHUY'S HOLDINGS INC	COM	171604101	6,493	308,442	SH		SOLE		308,442	0	0
CIENA CORP	COM	171779309	14,542	661,888	SH		SOLE		661,888	0	0
CITY OFFICE REIT INC	COM	178587101	3,443	250,000	SH		SOLE		250,000	0	0
CIVISTA BANCSHARES INC	COM	178867107	2,710	121,319	SH		SOLE		121,319	0	0
CLOUDERA INC	COM	18914U100	5,718	344,023	SH		SOLE		344,023	0	0
CLEVELAND-CLIFFS INC	COM	185899101	11,204	1,566,962	SH		SOLE		1,566,962	0	0
CLOVIS ONCOLOGY INC	COM	189464100	22,480	272,813	SH		SOLE		272,813	0	0
CALLON PETROLEUM CO	COM	13123X102	10,324	918,480	SH		SOLE		918,480	0	0
CARPENTER TECHNOLOGY CORP	COM	144285103	11,277	234,788	SH		SOLE		234,788	0	0
CIRRUS LOGIC INC	COM	172755100	3,958	74,230	SH		SOLE		74,230	0	0
CENTERSTATE BANKS CORP	COM	15201P109	9,922	370,213	SH		SOLE		370,213	0	0
CATALENT INC	COM	148806102	18,420	461,419	SH		SOLE		461,419	0	0
CARETRUST REIT INC	COM	14174T107	16,772	880,907	SH		SOLE		880,907	0	0
CUSTOMERS BANCORP INC	COM	23204G100	17,038	522,330	SH		SOLE		522,330	0	0
COMMERCE UNION BANCSHARES	COM	200828101	395	17,052	SH		SOLE		17,052	0	0
DECIPHERA PHARMACEUTICALS INC	COM	24344T101	5,548	292,147	SH		SOLE		292,147	0	0
MASONITE INTERNATIONAL CORP	COM	575385109	12,321	178,055	SH		SOLE		178,055	0	0
DASEKE INC	COM	23753F107	8,251	632,232	SH		SOLE		632,232	0	0
DYCOM INDUSTRIES INC	COM	267475101	18,704	217,788	SH		SOLE		217,788	0	0
MERIDIAN BANCORP INC	COM	58958U103	855	45,870	SH		SOLE		45,870	0	0
CHANNELADVISOR CORP	COM	159179100	6,162	535,803	SH		SOLE		535,803	0	0
EAGLE BANCORP INC MD	COM	268948106	11,248	167,748	SH		SOLE		167,748	0	0
8X8 INC NEW	COM	282914100	21,590	1,599,281	SH		SOLE		1,599,281	0	0
ENPHASE ENERGY, INC	COM	29355A107	408	268,600	SH		SOLE		268,600	0	0
EPAM SYSTEMS INC	COM	29414B104	31,961	363,477	SH		SOLE		363,477	0	0
EQUITY BANCSHARES INC	COM	29460X109	8,140	228,773	SH		SOLE		228,773	0	0
ESQUIRE FINANCIAL HOLDINGS	COM	29667J101	5,241	325,700	SH		SOLE		325,700	0	0
EAST WEST BANCORP INC	COM	27579R104	9,724	162,663	SH		SOLE		162,663	0	0
EAGLE MATLS INC	COM	26969P108	201	1,887	SH		SOLE		1,887	0	0
FB FINANCIAL CORP	COM	30257X104	4,971	131,782	SH		SOLE		131,782	0	0
FCB FINANCIAL HOLDINGS INC	COM	30255G103	35,014	724,927	SH		SOLE		724,927	0	0
FIRST CHOICE BANK	COM	319461109	6,864	286,000	SH		SOLE		286,000	0	0
FREEDOM BANK OF VIRGINIA	COM	35633M102	3,428	258,714	SH		SOLE		258,714	0	0
FLUSHING FINL CORP	COM	343873105	2,459	82,750	SH		SOLE		82,750	0	0
FIRST FINL BANCSHARES INC	COM	32020R109	917	20,280	SH		SOLE		20,280	0	0
FIRST FOUNDATION INC	COM	32026V104	10,342	578,105	SH		SOLE		578,105	0	0
FIVE BELOW	COM	33829M101	25,668	467,705	SH		SOLE		467,705	0	0
FIRST LONG IS CORP	COM	320734106	1,780	58,449	SH		SOLE		58,449	0	0
FARMERS AND MERCHANTS BANK OF LONG BEACH	COM	308243104	1,677	215	SH		SOLE		215	0	0
FARMERS NATL BANC CORP	COM	309627107	1,307	86,853	SH		SOLE		86,853	0	0
FEDERATED NATIONAL HOLDING COMPANY	COM	31422T101	624	40,000	SH		SOLE		40,000	0	0
FIRST BANK	COM	31931U102	7,833	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	1,813	42,222	SH		SOLE		42,222	0	0
FRESHPET INC	COM	358039105	10,589	676,608	SH		SOLE		676,608	0	0
FIRST RESOURCE BANK	COM	336177100	1,161	125,475	SH		SOLE		125,475	0	0
FRANKLIN FINANCIAL NETWORK	COM	35352P104	6,771	189,940	SH		SOLE		189,940	0	0
FS BANCORP INC	COM	30263Y104	2,422	46,892	SH		SOLE		46,892	0	0
FVCBANKCORP INC	COM	36120Q101	1,574	92,837	SH		SOLE		92,837	0	0
GERMAN AMERICAN BANCORP	COM	373865104	452	11,889	SH		SOLE		11,889	0	0
GUARANTY BANCORP DEL	COM	40075T607	4,945	177,886	SH		SOLE		177,886	0	0
GOLD COAST BANCORP INC	COM	380569103	2,336	169,868	SH		SOLE		169,868	0	0
GMS INC	COM	36251C103	23,106	652,712	SH		SOLE		652,712	0	0
GREEN BANCORP INC	COM	39260X100	1,454	61,496	SH		SOLE		61,496	0	0
GUARANTY BANCSHARES INC	COM	400764106	6,398	200,000	SH		SOLE		200,000	0	0
GSV CAP CORP	COM	36191J101	952	175,979	SH		SOLE		175,979	0	0
G1 THERAPEUTICS INC	COM	3621LQ109	14,388	578,057	SH		SOLE		578,057	0	0
GRAY TELEVISION INC	COM	389375106	175	11,127	SH		SOLE		11,127	0	0
GTT COMMUNICATIONS INC	COM	362393100	25,555	807,429	SH		SOLE		807,429	0	0
GUIDEWIRE SOFTWARE INC	COM	40171V100	15,506	199,151	SH		SOLE		199,151	0	0
HOME BANCORP INC	COM	43689E107	488	11,680	SH		SOLE		11,680	0	0
HOWARD BANCORP INC	COM	442496105	8,621	412,499	SH		SOLE		412,499	0	0
H&E EQUIPMENT SERVICES INC	COM	404030108	11,428	391,386	SH		SOLE		391,386	0	0
HOPFED BANCORP INC	COM	439734104	232	16,003	SH		SOLE		16,003	0	0
HOME FEDERAL BANCORP	COM	43708L108	494	18,520	SH		SOLE		18,520	0	0
HERITAGE FINL CORP WASH	COM	42722X106	3,050	103,401	SH		SOLE		103,401	0	0
HEALTH INSURANCE INOVATIONS	COM	42225K106	6,713	462,963	SH		SOLE		462,963	0	0
HOME BANCSHARES INC	COM	436893200	5,034	199,592	SH		SOLE		199,592	0	0
HEALTHSTREAM INC	COM	42222N103	5,643	241,472	SH		SOLE		241,472	0	0
HERITAGE COMMERCE CORP	COM	426927109	1,973	138,670	SH		SOLE		138,670	0	0
INDEPENENT BANK CORP	COM	453838609	1,133	50,000	SH		SOLE		50,000	0	0
INSTALLED BUILDING PRODUCTS	COM	45780R101	37,209	574,212	SH		SOLE		574,212	0	0
INDEPENDENT BANK GROUP INC	COM	45384B106	949	15,731	SH		SOLE		15,731	0	0
COUNTY BANCORP INC	COM	221907108	1,078	35,869	SH		SOLE		35,869	0	0
IMPERVA INC	COM	45321L100	23,398	539,120	SH		SOLE		539,120	0	0
INTERNAP CORP	COM	45885A300	8,516	1,957,710	SH		SOLE		1,957,710	0	0
FIRST INTERNET BANCORP	COM	320557101	6,137	190,000	SH		SOLE		190,000	0	0
INDEPENDENT BK CORP MASS	COM	453836108	1,138	15,250	SH		SOLE		15,250	0	0
INSMED INC	COM	457669307	21,640	693,362	SH		SOLE		693,362	0	0
INNOSPEC INC	COM	45768S105	10,047	162,972	SH		SOLE		162,972	0	0
IPG PHOTONICS CORP	COM	44980X109	23,586	127,450	SH		SOLE		127,450	0	0
INPHI CORP	COM	45772F107	9,966	251,101	SH		SOLE		251,101	0	0
INDEPENDENCE REALTY TRUST INC	COM	45378A106	944	92,800	SH		SOLE		92,800	0	0
INVESTAR HOLDIN	COM	46134L105	6,211	257,712	SH		SOLE		257,712	0	0
JACK IN THE BOX INC	COM	466367109	10,066	98,767	SH		SOLE		98,767	0	0
JOHN MARSHALL BANCORP INC	COM	47805L101	1,383	75,150	SH		SOLE		75,150	0	0
JAMES RIVER GROUP HOLDINGS	COM	G5005R107	2,074	50,000	SH		SOLE		50,000	0	0
KINGSTONE INC	COM	496719105	3,016	185,000	SH		SOLE		185,000	0	0
KLX INC	COM	482539103	28,958	547,096	SH		SOLE		547,096	0	0
KENNAMETAL INC	COM	489170100	24,240	600,887	SH		SOLE		600,887	0	0
KINSALE CAPITAL GROUP INC	COM	49714P108	2,054	47,570	SH		SOLE		47,570	0	0
KAPSTONE PAPER AND PACKAGING	COM	48562P103	6,664	310,105	SH		SOLE		310,105	0	0
KRATOS DEFENSE AND SECURITY	COM	50077B207	23,897	1,826,953	SH		SOLE		1,826,953	0	0
K2M GROUP HOLDINGS INC	COM	48273J107	19,537	921,137	SH		SOLE		921,137	0	0
LAKELAND BANCORP INC	COM	511637100	1,342	65,781	SH		SOLE		65,781	0	0
LEAF GROUP LTD	COM	52177G102	1,978	286,649	SH		SOLE		286,649	0	0
LINBLAD EXPEDITIONS HOLDINGS	COM	535219109	2,441	228,100	SH		SOLE		228,100	0	0
LUMENTUM HOLDINGS INC	COM	55024U109	14,643	269,412	SH		SOLE		269,412	0	0
LAKELAND FINL CORP	COM	511656100	2,271	46,615	SH		SOLE		46,615	0	0
LIVE OAK BANCSHARES INC	COM	53803X105	14,130	602,548	SH		SOLE		602,548	0	0
LEGACYTEXAS FINANCIAL GROUP	COM	52471Y106	2,683	67,200	SH		SOLE		67,200	0	0
MATTHEWS INTL CORP CL A	COM	577128101	7,987	128,310	SH		SOLE		128,310	0	0
MERCANTILE BANK CORP	COM	587376104	3,067	87,881	SH		SOLE		87,881	0	0
MOELIS & CO	COM	60786M105	17,394	404,045	SH		SOLE		404,045	0	0
MECHANICS BANK RICHMOND CA	COM	583614102	902	30	SH		SOLE		30	0	0
THE MARCUS CORP	COM	566330106	6,208	224,130	SH		SOLE		224,130	0	0
MDC PARTNERS INC-A	COM	552697104	151	13,711	SH		SOLE		13,711	0	0
MGM RESORTS INTERNATIONAL	COM	552953101	263	8,085	SH		SOLE		8,085	0	0
MACROGENICS INC	COM	556099109	6,619	358,161	SH		SOLE		358,161	0	0
MITEL NETWORKS	COM	60671Q104	149	17,745	SH		SOLE		17,745	0	0
MALVERN BANCORP INC	COM	561409103	6,928	259,003	SH		SOLE		259,003	0	0
MERIT MED SYS INC	COM	589889104	10,122	239,019	SH		SOLE		239,019	0	0
MONMOUTH REAL ESTATE INV	COM	609720107	8,474	523,436	SH		SOLE		523,436	0	0
MODEL N INC	COM	607525102	9,250	618,715	SH		SOLE		618,715	0	0
MIDWESTONE FINANCIAL GROUP INC	COM	598511103	5,095	150,908	SH		SOLE		150,908	0	0
MONOLITHICPOWER SYSTEMS INC	COM	609839105	10,546	98,980	SH		SOLE		98,980	0	0
MERCURY SYSTEMS INC	COM	589378108	28,313	545,733	SH		SOLE		545,733	0	0
MEDEQUITIES REALTY TRUST INC	COM	58409L306	2,409	205,053	SH		SOLE		205,053	0	0
MIDLAND STATES BANCORP INC	COM	597742105	1,616	51,013	SH		SOLE		51,013	0	0
MICROSEMI CORP	COM	595137100	15,702	305,011	SH		SOLE		305,011	0	0
MAINSOURCE FINANCIAL GROUP	COM	56062Y102	1,593	44,420	SH		SOLE		44,420	0	0
MERITAGE CORP	COM	59001A102	17,735	399,441	SH		SOLE		399,441	0	0
MANITOWOC COMPANY	COM	563571108	8,433	936,954	SH		SOLE		936,954	0	0
MAXLINEAR INC CLASS A	COM	57776J100	8,408	354,040	SH		SOLE		354,040	0	0
NATIONAL CAPITAL BANK OF WASHINGTON	COM	635162100	364	1,716	SH		SOLE		1,716	0	0
NICHOLET BANKSHARES INC	COM	65406E102	2,765	48,060	SH		SOLE		48,060	0	0
NATIONAL COMMERCE CORP	COM	63546L102	19,223	449,135	SH		SOLE		449,135	0	0
NEOGENOMICS INC	COM	64049M209	12,438	1,117,555	SH		SOLE		1,117,555	0	0
NANTHEALTH INC	COM	630104107	854	207,337	SH		SOLE		207,337	0	0
NMI HOLDINGS INC	COM	629209305	934	75,340	SH		SOLE		75,340	0	0
SERVICENOW INC	COM	81762P102	202	1,720	SH		SOLE		1,720	0	0
NUTRI SYS INC NEW	COM	67069D108	30,164	539,601	SH		SOLE		539,601	0	0
NV5 GLOBAL INC	COM	62945V109	5,452	99,766	SH		SOLE		99,766	0	0
NEXSTAR MEDIA GROUP INC	COM	65336K103	5,805	93,184	SH		SOLE		93,184	0	0
OBALON THERAPEUTICS INC	COM	67424L100	602	63,171	SH		SOLE		63,171	0	0
OCEANFIRST FINANCIAL CORP	COM	675234108	5,108	185,812	SH		SOLE		185,812	0	0
OCLARO INC	COM	67555N206	9,106	1,055,124	SH		SOLE		1,055,124	0	0
OLD LINE BANCSHARES INC	COM	67984M100	5,701	203,594	SH		SOLE		203,594	0	0
OLLIE'S BARGAIN OUTLET HOLDINGS	COM	681116109	19,004	409,575	SH		SOLE		409,575	0	0
OPUS BANK	COM	684000102	12,825	534,380	SH		SOLE		534,380	0	0
OSI SYSTEMS INC	COM	671044105	11,235	122,965	SH		SOLE		122,965	0	0
BANK OF THE OZARKS INC	COM	063904106	27,595	574,288	SH		SOLE		574,288	0	0
PORTER BANCORP INC	COM	736233206	356	31,217	SH		SOLE		31,217	0	0
PARAGON COMMERCIAL CORP	COM	69911U403	4,262	75,493	SH		SOLE		75,493	0	0
PUMA BIOTECHNOLOGY INC	COM	74587V107	34,865	291,146	SH		SOLE		291,146	0	0
PDC ENERGY INC	COM	69327R101	8,525	173,875	SH		SOLE		173,875	0	0
PENN NATL GAMING INC	COM	707569109	5,639	241,099	SH		SOLE		241,099	0	0
PETIQ INC	COM	71639T106	1,856	68,540	SH		SOLE		68,540	0	0
PROFESSIONAL HOLDING CORP	COM	743139107	3,347	240,584	SH		SOLE		240,584	0	0
PROOFPOINT INC	COM	743424103	25,515	292,540	SH		SOLE		292,540	0	0
PHOTRONICS INC	COM	719405102	114	12,925	SH		SOLE		12,925	0	0
DAVE & BUSTER'S ENTERTAINMENT INC.	COM	238337109	6,013	114,573	SH		SOLE		114,573	0	0
PLANET FITNESS INC	COM	72703H101	16,458	609,992	SH		SOLE		609,992	0	0
PACIFIC MERCANTILE BANCORP	COM	694552100	5,483	599,284	SH		SOLE		599,284	0	0
PINNACLE FINL PARTNERS INC	COM	72346Q104	8,932	133,412	SH		SOLE		133,412	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	35,892	950,791	SH		SOLE		950,791	0	0
PQ GROUP HOLDINGS INC	COM	73943T103	14,397	834,590	SH		SOLE		834,590	0	0
PRIMORIS SERVICES CORP	COM	74164F103	17,072	580,276	SH		SOLE		580,276	0	0
PORTOLA PHARMACEUTICALS INC	COM	737010108	20,256	374,908	SH		SOLE		374,908	0	0
PEOPLE'S UTAH BANCORP	COM	712706209	7,003	215,808	SH		SOLE		215,808	0	0
PUGET SOUND BANCORP INC	COM	74532B107	4,057	114,430	SH		SOLE		114,430	0	0
QCR HOLDINGS INC	COM	74727A104	4,243	93,253	SH		SOLE		93,253	0	0
QUANTENNA COMMUNICATIONS	COM	74766D100	1,699	101,080	SH		SOLE		101,080	0	0
QTS REALTY TRUST INC	COM	74736A103	26,273	501,781	SH		SOLE		501,781	0	0
Q2 HOLDINGS INC	COM	74736L109	12,718	305,361	SH		SOLE		305,361	0	0
RBB BANCORP	COM	74930B105	3,434	150,000	SH		SOLE		150,000	0	0
REIS INC	COM	75936P105	3,978	221,026	SH		SOLE		221,026	0	0
REATA PHARMACEUTICALS INC	COM	75615P103	14,712	473,051	SH		SOLE		473,051	0	0
RED ROBIN GOURMET BURGERS INC	COM	75689M101	10,385	155,006	SH		SOLE		155,006	0	0
IGNYTA INC	COM	451731103	14,292	1,157,222	SH		SOLE		1,157,222	0	0
SAGE THERAPEUTICS INC	COM	78667J108	3,907	62,708	SH		SOLE		62,708	0	0
SBA COMMUNICATIONS CORP CL A	COM	78410G104	203	1,412	SH		SOLE		1,412	0	0
SUSSEX BANCORP	COM	869245100	4,331	182,747	SH		SOLE		182,747	0	0
SUNSHINE BANCORP INC	COM	86777J108	2,412	103,767	SH		SOLE		103,767	0	0
SEACOAST COMMERCE BANK	COM	81171B108	2,215	101,163	SH		SOLE		101,163	0	0
SERVISFIRST BANCSHARES INC	COM	81768T108	9,951	256,130	SH		SOLE		256,130	0	0
SOUTHERN FIRST BANCSHARES	COM	842873101	2,582	71,032	SH		SOLE		71,032	0	0
SHENANDOAH TELECOMMUNICATION	COM	82312B106	2,967	79,758	SH		SOLE		79,758	0	0
MADDEN STEVEN LTD	COM	556269108	13,966	322,534	SH		SOLE		322,534	0	0
SVB FINL GROUP	COM	78486Q101	9,906	52,946	SH		SOLE		52,946	0	0
SMARTFINANCIAL INC	COM	83190L208	4,812	200,000	SH		SOLE		200,000	0	0
SOLARIS OILFIELD INFRASTRUCTURE INC	COM	83418M103	5,229	300,000	SH		SOLE		300,000	0	0
SOUTHERN NATL BANCORP OF VA	COM	843395104	350	20,598	SH		SOLE		20,598	0	0
SEQUENTIAL BRANDS GROUP INC	COM	81734P107	3,389	1,133,543	SH		SOLE		1,133,543	0	0
1ST SOURCE CORP	COM	336901103	5,080	100,000	SH		SOLE		100,000	0	0
SRC ENERGY INC	COM	78470V108	99	10,195	SH		SOLE		10,195	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	32,513	716,772	SH		SOLE		716,772	0	0
STEWARDSHIP FINANCIAL CORPORATION	COM	860326107	2,940	300,000	SH		SOLE		300,000	0	0
STERLING BANCORP	COM	85917A100	5,219	211,713	SH		SOLE		211,713	0	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	20,115	502,870	SH		SOLE		502,870	0	0
THE BANCORP INC	COM	05969A105	5,169	625,049	SH		SOLE		625,049	0	0
TRIUMPH BANCORP	COM	89679E300	4,502	139,610	SH		SOLE		139,610	0	0
TEXAS CAPITAL BANCSHARES INC	COM	88224Q107	9,091	105,959	SH		SOLE		105,959	0	0
TELADOC INC	COM	87918A105	17,496	527,770	SH		SOLE		527,770	0	0
TILLY'S INC-CLASS A SHRS	COM	886885102	7,505	625,910	SH		SOLE		625,910	0	0
TIMKENSTEEL CORP	COM	887399103	3,336	202,192	SH		SOLE		202,192	0	0
TENNANT CO	COM	880345103	11,978	180,936	SH		SOLE		180,936	0	0
TUTOR PERINI CORPORATION	COM	901109108	21,201	746,521	SH		SOLE		746,521	0	0
LENDINGTREE INC	COM	52603B107	72,856	298,039	SH		SOLE		298,039	0	0
TREX INC	COM	89531P105	40,120	445,430	SH		SOLE		445,430	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	6,352	237,543	SH		SOLE		237,543	0	0
TETRA TECH INC	COM	88162G103	17,951	385,623	SH		SOLE		385,623	0	0
TILE SHOP HLDGS INC	COM	88677Q109	8,797	692,665	SH		SOLE		692,665	0	0
TAKE TWO INTERACTIVE SOFTWARE	COM	874054109	13,266	129,767	SH		SOLE		129,767	0	0
HOSTESS BRANDS INC	COM	44109J106	16,828	1,231,883	SH		SOLE		1,231,883	0	0
UNITY BANCORP INC	COM	913290102	3,341	168,750	SH		SOLE		168,750	0	0
US CONCRETE INC	COM	90333L201	23,584	309,094	SH		SOLE		309,094	0	0
VERITEX HOLDINGS INC	COM	923451108	3,654	135,517	SH		SOLE		135,517	0	0
VEEVA SYSTEMS INC	COM	922475108	3,737	66,254	SH		SOLE		66,254	0	0
VONAGE HOLDINGS CORP	COM	92886T201	30,104	3,698,332	SH		SOLE		3,698,332	0	0
VARONIS SYSTEMS INC	COM	922280102	24,144	576,232	SH		SOLE		576,232	0	0
VIAD CORP	COM	92552R406	215	3,527	SH		SOLE		3,527	0	0
WESTERN ALLIANCE BANCORP	COM	957638109	9,917	186,834	SH		SOLE		186,834	0	0
WALKER & DUNLOP INC	COM	93148P102	2,972	56,787	SH		SOLE		56,787	0	0
WATERSTONE FINANCIAL INC	COM	94188P101	780	40,000	SH		SOLE		40,000	0	0
WSFS FINANCIAL CORPORATION	COM	929328102	8,268	169,608	SH		SOLE		169,608	0	0
WEST TOWN BANK & TRUST	COM	956308100	2,727	109,942	SH		SOLE		109,942	0	0
YEXT INC	COM	98585N106	398	30,000	SH		SOLE		30,000	0	0
ZAGG INC	COM	98884U108	328	20,838	SH		SOLE		20,838	0	0