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
Expires:	Oct 31, 2018
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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	458	2,313	SH		SOLE		2,313	0	0
AMERIS BANCORP	COM	03076K108	3,208	81,856	SH		SOLE		81,856	0	0
ADAMAS PHARMACEUTICALS INC	COM	00548A106	3,823	616,664	SH		SOLE		616,664	0	0
ADDUS HOMECARE CORPORATION	COM	006739106	15,604	208,195	SH		SOLE		208,195	0	0
AMERICAN EAGLE OUTFITTERS INC.	COM	02553E106	21,357	1,263,707	SH		SOLE		1,263,707	0	0
PLAYAGS INC	COM	72814N104	15,233	783,174	SH		SOLE		783,174	0	0
AIMMUNE THERAPEUTICS INC	COM	00900T107	16,176	776,943	SH		SOLE		776,943	0	0
APPLIED INDUSTRIAL TECH INC	COM	03820C105	3,473	56,438	SH		SOLE		56,438	0	0
ALARM.COM HOLDINGS INC	COM	011642105	15,942	297,989	SH		SOLE		297,989	0	0
AMALGAMATED BANK	COM	022663108	2,881	165,084	SH		SOLE		165,084	0	0
AMERICAN BUSINESS BK LA CALI	COM	02475L105	2,352	69,178	SH		SOLE		69,178	0	0
ALLIED MOTION TECHNOLOGIES	COM	019330109	2,354	62,105	SH		SOLE		62,105	0	0
AMERANT BANCORP INC	COM	023576101	10,514	533,450	SH		SOLE		533,450	0	0
AMERANT BANCORP INC-CL B	COM	023576200	211	14,727	SH		SOLE		14,727	0	0
AMAZON.COM, INC	COM	023135106	600	317	SH		SOLE		317	0	0
APPLIED THERAPEUTICS INC	COM	03828A101	3,798	460,980	SH		SOLE		460,980	0	0
AMERICAN RIVIERA BANK	COM	02932A106	3,404	185,488	SH		SOLE		185,488	0	0
ARENA PHARMACEUTICALS INC	COM	040047607	22,773	388,418	SH		SOLE		388,418	0	0
ARQULE INC	COM	04269E107	15,421	1,400,600	SH		SOLE		1,400,600	0	0
ASSEMBLY BIOSCIENCES INC	COM	045396108	5,641	418,143	SH		SOLE		418,143	0	0
ATRICURE INC	COM	04963C209	12,948	433,912	SH		SOLE		433,912	0	0
AIR TRANSPORT SERVICES GROUP	COM	00922R105	14,954	612,876	SH		SOLE		612,876	0	0
ATLANTIC UNION BANKSHARES CORP	COM	04911A107	11,084	313,726	SH		SOLE		313,726	0	0
AVROBIO INC	COM	05455M100	8,497	522,590	SH		SOLE		522,590	0	0
BAYCOM CORP	COM	07272M107	5,357	244,595	SH		SOLE		244,595	0	0
BLUCORA INC	COM	095229100	1,601	52,702	SH		SOLE		52,702	0	0
BIODELIVERY SCIENCES INTERNATIONAL INC	COM	09060J106	7,943	1,708,277	SH		SOLE		1,708,277	0	0
BUSINESS FIRST BANCSHARES INC	COM	12326C105	5,712	224,440	SH		SOLE		224,440	0	0
BIOHAVEN PHARMACEUTICAL HOLDINGS	COM	G11196105	13,402	306,042	SH		SOLE		306,042	0	0
BRYN MAWR BK CORP	COM	117665109	3,493	93,600	SH		SOLE		93,600	0	0
BANK OF COMMERCE HOLDINGS	COM	06424J103	4,539	424,577	SH		SOLE		424,577	0	0
POPULAR INC	COM	733174700	3,181	58,653	SH		SOLE		58,653	0	0
BANK7 CORP	COM	06652N107	9,226	498,975	SH		SOLE		498,975	0	0
BRIDGEWATER BANCSHARES INC	COM	108621103	8,385	726,641	SH		SOLE		726,641	0	0
CADENCE BANCORP	COM	12739A100	40,196	1,932,508	SH		SOLE		1,932,508	0	0
META FINANCIAL GROUP, INC	COM	59100U108	11,252	401,147	SH		SOLE		401,147	0	0
CAPITAL BANCORP INC	COM	139737100	426	34,596	SH		SOLE		34,596	0	0
CBTX INC	COM	12481V104	4,929	175,146	SH		SOLE		175,146	0	0
COASTAL FINANCIAL CORP	COM	19046P209	6,719	434,321	SH		SOLE		434,321	0	0
CNB FINL CORP PA	COM	126128107	4,714	166,927	SH		SOLE		166,927	0	0
COGENT COMMUNICATIONS HOLDINGS	COM	19239V302	19,196	323,375	SH		SOLE		323,375	0	0
CENTRIC FINANCIAL CORPORATION	COM	15641J101	980	97,000	SH		SOLE		97,000	0	0
CHURCHILL DOWNS INC	COM	171484108	32,073	278,726	SH		SOLE		278,726	0	0
CHEGG INC	COM	163092109	65,772	1,704,391	SH		SOLE		1,704,391	0	0
CHUY'S HOLDINGS INC	COM	171604101	8,210	358,196	SH		SOLE		358,196	0	0
CIENA CORP	COM	171779309	41,870	1,018,003	SH		SOLE		1,018,003	0	0
CIVISTA BANCSHARES INC	COM	178867107	2,667	118,810	SH		SOLE		118,810	0	0
COMMUNITY HERITAGE FINANCIAL INC	COM	20370L103	561	26,842	SH		SOLE		26,842	0	0
CANNAE HOLDINGS	COM	13765N107	5,110	176,340	SH		SOLE		176,340	0	0
CALLON PETROLEUM CO	COM	13123X102	1,121	170,153	SH		SOLE		170,153	0	0
CRAY INC	COM	225223304	19,676	565,069	SH		SOLE		565,069	0	0
CARPENTER TECHNOLOGY CORP	COM	144285103	9,342	194,703	SH		SOLE		194,703	0	0
CENTERSTATE BANKS CORP	COM	15201P109	19,716	856,115	SH		SOLE		856,115	0	0
CURO GROUP HOLD	COM	23131L107	7,263	657,262	SH		SOLE		657,262	0	0
DECIPHERA PHARMACEUTICALS INC	COM	24344T101	8,211	364,105	SH		SOLE		364,105	0	0
DELEK US HLDGS INC	COM	24665A103	7,581	187,103	SH		SOLE		187,103	0	0
DICERNA PHARMACEUTICALS INC	COM	253031108	13,291	843,895	SH		SOLE		843,895	0	0
EBIX INC	COM	278715206	5,339	106,304	SH		SOLE		106,304	0	0
EHEALTH INC	COM	28238P109	19,659	228,323	SH		SOLE		228,323	0	0
ELOXX PHARMACEUTICALS INC	COM	29014R103	1,994	200,000	SH		SOLE		200,000	0	0
ENOVA INTERNATI	COM	29357K103	1,913	82,995	SH		SOLE		82,995	0	0
ESQUIRE FINANCIAL HOLDINGS	COM	29667J101	8,849	351,830	SH		SOLE		351,830	0	0
ETSY INC	COM	29786A106	6,669	108,673	SH		SOLE		108,673	0	0
EVO PAYMENTS INC CLASS A	COM	26927E104	8,678	275,217	SH		SOLE		275,217	0	0
EVERI HOLDINGS INC	COM	30034T103	17,420	1,460,172	SH		SOLE		1,460,172	0	0
FIRST BANCSHARES INC	COM	318916103	3,457	113,927	SH		SOLE		113,927	0	0
FIRST BANCORP	COM	318672706	963	87,222	SH		SOLE		87,222	0	0
FIRST CHOICE BANCORP	COM	31948P104	4,230	186,000	SH		SOLE		186,000	0	0
FIVE BELOW	COM	33829M101	41,636	346,905	SH		SOLE		346,905	0	0
FIRST MID BANCSHARES INC	COM	320866106	4,681	134,051	SH		SOLE		134,051	0	0
FRESHPET INC	COM	358039105	36,287	797,333	SH		SOLE		797,333	0	0
FS BANCORP INC	COM	30263Y104	3,444	66,405	SH		SOLE		66,405	0	0
FORESCOUT TECHNOLOGIES INC	COM	34553D101	31,278	923,731	SH		SOLE		923,731	0	0
FVCBANKCORP INC	COM	36120Q101	5,598	288,277	SH		SOLE		288,277	0	0
GREEN DOT CORP	COM	39304D102	21,131	432,133	SH		SOLE		432,133	0	0
GLU MOBILE INC	COM	379890106	17,903	2,493,485	SH		SOLE		2,493,485	0	0
GUARANTY BANCSHARES INC	COM	400764106	6,230	200,000	SH		SOLE		200,000	0	0
GROCERY OUTLET HOLDINGS CORP	COM	39874R101	730	22,210	SH		SOLE		22,210	0	0
ALPHABET INC CLA A	COM	02079K305	362	334	SH		SOLE		334	0	0
CHART INDS INC	COM	16115Q308	25,660	333,763	SH		SOLE		333,763	0	0
HAEMONETICS CORPORATION	COM	405024100	20,051	166,617	SH		SOLE		166,617	0	0
H&E EQUIPMENT SERVICES INC	COM	404030108	13,439	461,972	SH		SOLE		461,972	0	0
HERITAGE FINL CORP WASH	COM	42722X106	6,799	230,146	SH		SOLE		230,146	0	0
HARSCO CORP	COM	415864107	9,954	362,760	SH		SOLE		362,760	0	0
HERITAGE COMMERCE CORP	COM	426927109	2,595	211,862	SH		SOLE		211,862	0	0
HORIZON THERAPEUTICS PLC	COM	G46188101	28,604	1,188,856	SH		SOLE		1,188,856	0	0
INTERCEPT PHARMACEUTICAL	COM	45845P108	10,973	137,898	SH		SOLE		137,898	0	0
INTRICON CORP	COM	46121H109	4,097	175,400	SH		SOLE		175,400	0	0
INNOVATIVE INDUSTRIAL PROPER	COM	45781V101	9,246	74,831	SH		SOLE		74,831	0	0
INDUSTRIAL LOGISTICS PROPERTIES	COM	456237106	8,471	406,868	SH		SOLE		406,868	0	0
INSMED INC	COM	457669307	21,561	842,246	SH		SOLE		842,246	0	0
INSTRUCTURE INC	COM	45781U103	8,415	198,007	SH		SOLE		198,007	0	0
INNOSPEC INC	COM	45768S105	11,908	130,518	SH		SOLE		130,518	0	0
INVESTAR HOLDIN	COM	46134L105	2,517	105,547	SH		SOLE		105,547	0	0
INTEGER HOLDINGS CORP	COM	45826H109	29,794	355,030	SH		SOLE		355,030	0	0
JACK IN THE BOX INC	COM	466367109	19,029	233,797	SH		SOLE		233,797	0	0
JAMES RIVER GROUP HOLDINGS	COM	G5005R107	1,437	30,648	SH		SOLE		30,648	0	0
KINGSTONE INC	COM	496719105	1,310	151,397	SH		SOLE		151,397	0	0
KIRKLAND LAKE GOLD LTD	COM	49741E100	6,068	141,390	SH		SOLE		141,390	0	0
KNOLL INC	COM	498904200	4,374	190,337	SH		SOLE		190,337	0	0
KINSALE CAPITAL GROUP INC	COM	49714P108	1,679	18,353	SH		SOLE		18,353	0	0
KARYOPHARM THERAPEUTICS INC	COM	48576U106	8,239	1,375,399	SH		SOLE		1,375,399	0	0
KRATOS DEFENSE AND SECURITY	COM	50077B207	43,689	1,908,637	SH		SOLE		1,908,637	0	0
LEAF GROUP LTD	COM	52177G102	5,410	730,058	SH		SOLE		730,058	0	0
LUMENTUM HOLDINGS INC	COM	55024U109	13,764	257,696	SH		SOLE		257,696	0	0
LIVANOVA PLC	COM	G5509L101	10,476	145,587	SH		SOLE		145,587	0	0
LIVE OAK BANCSHARES INC	COM	53803X105	1,846	107,636	SH		SOLE		107,636	0	0
MERCHANTS BANCORP IN	COM	58844R108	7,404	434,759	SH		SOLE		434,759	0	0
MALIBU BOATS INC-CLASS A	COM	56117J100	256	6,602	SH		SOLE		6,602	0	0
MOELIS & CO	COM	60786M105	17,984	514,561	SH		SOLE		514,561	0	0
METROPOLITAN BANK HOLDING CO	COM	591774104	10,088	229,276	SH		SOLE		229,276	0	0
MECHANICS BANK RICHMOND CA	COM	583614102	1,518	53	SH		SOLE		53	0	0
THE MARCUS CORP	COM	566330106	8,216	249,281	SH		SOLE		249,281	0	0
MALVERN BANCORP INC	COM	561409103	5,769	262,103	SH		SOLE		262,103	0	0
MERIT MED SYS INC	COM	589889104	14,137	237,353	SH		SOLE		237,353	0	0
MONMOUTH REAL ESTATE INV	COM	609720107	10,298	760,009	SH		SOLE		760,009	0	0
MODEL N INC	COM	607525102	12,708	651,669	SH		SOLE		651,669	0	0
MERCURY SYSTEMS INC	COM	589378108	32,603	463,440	SH		SOLE		463,440	0	0
MICROSOFT CORP	COM	594918104	627	4,677	SH		SOLE		4,677	0	0
MERITAGE CORP	COM	59001A102	18,233	355,142	SH		SOLE		355,142	0	0
NOODLES AND COMPANY	COM	65540B105	7,429	942,759	SH		SOLE		942,759	0	0
NEOGENOMICS INC	COM	64049M209	40,935	1,865,759	SH		SOLE		1,865,759	0	0
NEW RELIC INC	COM	64829B100	3,042	35,159	SH		SOLE		35,159	0	0
NEW FORTRESS ENERGY LLC	COM	644393100	9,094	776,616	SH		SOLE		776,616	0	0
NMI HOLDINGS INC	COM	629209305	1,456	51,270	SH		SOLE		51,270	0	0
INSPERITY INC	COM	45778Q107	25,517	208,917	SH		SOLE		208,917	0	0
BANK OF NT BUTTERFIELD AND SON LTD	COM	G0772R208	8,443	248,623	SH		SOLE		248,623	0	0
NV5 GLOBAL INC	COM	62945V109	24,717	303,646	SH		SOLE		303,646	0	0
ORIGIN BANCORP INC	COM	68621T102	4,973	150,710	SH		SOLE		150,710	0	0
OCEANFIRST FINANCIAL CORP	COM	675234108	17,117	688,829	SH		SOLE		688,829	0	0
ONCOCYTE CORP	COM	68235C107	5,927	2,380,180	SH		SOLE		2,380,180	0	0
OIL STATES INTERNATIONAL	COM	678026105	4,272	233,417	SH		SOLE		233,417	0	0
OLD LINE BANCSHARES INC	COM	67984M100	3,543	133,139	SH		SOLE		133,139	0	0
OLLIE'S BARGAIN OUTLET HOLDINGS	COM	681116109	24,616	282,589	SH		SOLE		282,589	0	0
ONEMAIN HOLDINGS INC	COM	68268W103	3,369	99,650	SH		SOLE		99,650	0	0
OPUS BANK	COM	684000102	6,429	304,535	SH		SOLE		304,535	0	0
OSI SYSTEMS INC	COM	671044105	270	2,395	SH		SOLE		2,395	0	0
PROFESSIONAL HOLDING CORP	COM	743139107	4,919	279,177	SH		SOLE		279,177	0	0
PROOFPOINT INC	COM	743424103	18,284	152,050	SH		SOLE		152,050	0	0
THE CHILDREN'S PLACE INC	COM	168905107	25,866	271,190	SH		SOLE		271,190	0	0
PLANET FITNESS INC	COM	72703H101	44,386	612,722	SH		SOLE		612,722	0	0
CPI CARD GROUP INC	COM	12634H200	90	34,921	SH		SOLE		34,921	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	22,726	735,944	SH		SOLE		735,944	0	0
PQ GROUP HOLDINGS INC	COM	73943T103	11,629	733,681	SH		SOLE		733,681	0	0
PLURALSIGHT INC	COM	72941B106	24,664	813,447	SH		SOLE		813,447	0	0
PERSONALIS INC	COM	71535D106	3,257	119,980	SH		SOLE		119,980	0	0
PURE STORAGE	COM	74624M102	6,444	421,999	SH		SOLE		421,999	0	0
PTC THERAPEUTICS INC	COM	69366J200	15,964	354,748	SH		SOLE		354,748	0	0
PORTOLA PHARMACEUTICALS INC	COM	737010108	12,912	475,934	SH		SOLE		475,934	0	0
PEOPLE'S UTAH BANCORP	COM	712706209	3,801	129,277	SH		SOLE		129,277	0	0
Q2 HOLDINGS INC	COM	74736L109	17,262	226,055	SH		SOLE		226,055	0	0
RADIUS HEALTH INC	COM	750469207	14,903	611,767	SH		SOLE		611,767	0	0
REPLIMUNE GROUP INC	COM	76029N106	10,435	711,770	SH		SOLE		711,770	0	0
REATA PHARMACEUTICALS INC	COM	75615P103	33,963	359,970	SH		SOLE		359,970	0	0
RAPID7 INC	COM	753422104	46,760	808,442	SH		SOLE		808,442	0	0
SAILPOINT TECHNOLOGIES HOLDINGS	COM	78781P105	10,285	513,244	SH		SOLE		513,244	0	0
SPIRIT AIRLS INC	COM	848577102	18,296	383,320	SH		SOLE		383,320	0	0
STERLING BANCORP INC	COM	85917W102	7,764	778,700	SH		SOLE		778,700	0	0
SEACOAST COMMERCE BANK	COM	81171B108	5,094	254,684	SH		SOLE		254,684	0	0
SEAWORLD ENTERTAINMENT	COM	81282V100	33,012	1,064,895	SH		SOLE		1,064,895	0	0
SERVISFIRST BANCSHARES INC	COM	81768T108	8,351	243,750	SH		SOLE		243,750	0	0
SOUTHERN FIRST BANCSHARES	COM	842873101	2,782	71,032	SH		SOLE		71,032	0	0
SHENANDOAH TELECOMMUNICATION	COM	82312B106	1,948	50,565	SH		SOLE		50,565	0	0
MADDEN STEVEN LTD	COM	556269108	26,110	769,074	SH		SOLE		769,074	0	0
SVB FINL GROUP	COM	78486Q101	1,688	7,514	SH		SOLE		7,514	0	0
SIMPLY GOOD FOODS CO	COM	82900L102	31,158	1,293,945	SH		SOLE		1,293,945	0	0
SYNOVUS FINANCIAL CORP	COM	87161C501	1,877	53,625	SH		SOLE		53,625	0	0
1ST SOURCE CORP	COM	336901103	3,276	70,605	SH		SOLE		70,605	0	0
SPIRIT OF TEXAS BANCSHARES	COM	84861D103	5,897	262,100	SH		SOLE		262,100	0	0
SVMK INC	COM	78489X103	14,103	854,231	SH		SOLE		854,231	0	0
SAVARA INC	COM	805111101	443	186,939	SH		SOLE		186,939	0	0
DEL TACO RESTAURANTS INC	COM	245496104	11,130	868,159	SH		SOLE		868,159	0	0
THE BANCORP INC	COM	05969A105	8,192	918,342	SH		SOLE		918,342	0	0
TRIUMPH BANCORP	COM	89679E300	9,392	323,315	SH		SOLE		323,315	0	0
TELADOC HEALTH INC	COM	87918A105	36,871	555,203	SH		SOLE		555,203	0	0
TENABLE HOLDING	COM	88025T102	14,790	518,235	SH		SOLE		518,235	0	0
TILLY'S INC-CLASS A SHRS	COM	886885102	5,025	658,610	SH		SOLE		658,610	0	0
TRANSMEDICS GROUP INC	COM	89377M109	5,697	196,510	SH		SOLE		196,510	0	0
TANDEM DIABETES CARE INC	COM	875372203	34,970	542,007	SH		SOLE		542,007	0	0
TRINET GROUP IN	COM	896288107	36,248	534,624	SH		SOLE		534,624	0	0
TUTOR PERINI CORPORATION	COM	901109108	9,675	697,531	SH		SOLE		697,531	0	0
LENDINGTREE INC	COM	52603B107	40,721	96,949	SH		SOLE		96,949	0	0
TREX INC	COM	89531P105	46,126	643,321	SH		SOLE		643,321	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	13,570	271,776	SH		SOLE		271,776	0	0
TRISTATE CAPITAL HOLDINGS	COM	89678F100	2,436	114,145	SH		SOLE		114,145	0	0
TETRA TECH INC	COM	88162G103	32,823	417,866	SH		SOLE		417,866	0	0
TETRA TECHNOLOGIES	COM	88162F105	28	16,980	SH		SOLE		16,980	0	0
TWIST BIOSCIENCE CORP	COM	90184D100	15,204	524,093	SH		SOLE		524,093	0	0
UNIVERSITY BANCORP INC	COM	914090105	2,158	250,000	SH		SOLE		250,000	0	0
UNITY BANCORP INC	COM	913290102	3,831	168,750	SH		SOLE		168,750	0	0
URBAN OUTFITTERS INC	COM	917047102	3,891	171,012	SH		SOLE		171,012	0	0
USA TECHNOLOGIES INC	COM	90328S500	8,435	1,135,296	SH		SOLE		1,135,296	0	0
US XPRESS ENTERPRISES INC	COM	90338N202	2,697	524,623	SH		SOLE		524,623	0	0
VERITEX HOLDINGS INC	COM	923451108	3,517	135,517	SH		SOLE		135,517	0	0
VERICEL CORP	COM	92346J108	13,570	718,359	SH		SOLE		718,359	0	0
VOCERAMUNICATIONS INC	COM	92857F107	22,106	692,539	SH		SOLE		692,539	0	0
VONAGE HOLDINGS CORP	COM	92886T201	29,861	2,635,598	SH		SOLE		2,635,598	0	0
VIPER ENERGY PA	COM	92763M105	10,341	335,520	SH		SOLE		335,520	0	0
VAREX IMAGING CORPORATION	COM	92214X106	9,244	301,607	SH		SOLE		301,607	0	0
VARONIS SYSTEMS INC	COM	922280102	35,788	577,777	SH		SOLE		577,777	0	0
BOINGO WIRELESS INC	COM	09739C102	10,129	563,641	SH		SOLE		563,641	0	0
YETI HOLDINGS INC	COM	98585X104	15,787	545,318	SH		SOLE		545,318	0	0
ZOGENIX INC	COM	98978L204	15,775	330,169	SH		SOLE		330,169	0	0