Emerald Mutual Fund Advisers Trust Closed Holding Positions

Emerald Mutual Fund Advisers Trust

Stock	Closed Quarter	Shares Sold	Price Range
MGM Mgm Resorts International Consumer Cyclical	Q4 2017 Filed on Feb 06, 2018	8,085	$29.69 - $34.22 $240K - $277K
TMST Timken Steel Corp Basic Materials	Q4 2017 Filed on Feb 06, 2018	202,192	$12.83 - $18.45 $2.59M - $3.73M
GABC German American Bancorp, Inc. Financial Services	Q4 2017 Filed on Feb 06, 2018	11,889	$34.48 - $38.75 $410K - $461K
Legacytexas Financial Group	Q4 2017 Filed on Feb 06, 2018	67,200	N/A
PLAY Dave & Buster'S Entertainment, Inc. Communication Services	Q4 2017 Filed on Feb 06, 2018	114,573	$46.34 - $57.03 $5.31M - $6.53M
MXL Maxlinear Inc Technology	Q4 2017 Filed on Feb 06, 2018	354,040	$23.02 - $27.25 $8.15M - $9.65M
Bovie Medical Corp	Q4 2017 Filed on Feb 06, 2018	490,000	N/A
TTSH Tile Shop Holdings, Inc. Consumer Cyclical	Q4 2017 Filed on Feb 06, 2018	692,665	$8.2 - $13.2 $5.68M - $9.14M
Manitowoc Company	Q4 2017 Filed on Feb 06, 2018	936,954	N/A
Oclaro Inc	Q4 2017 Filed on Feb 06, 2018	1,055,124	N/A
Cavium Inc	Q4 2017 Filed on Feb 06, 2018	295,344	N/A
PENN Penn National Gaming Inc Consumer Cyclical	Q4 2017 Filed on Feb 06, 2018	241,099	$22.91 - $31.42 $5.52M - $7.58M
Green Bancorp Inc	Q4 2017 Filed on Feb 06, 2018	61,496	N/A
Mainsource Financial Group	Q4 2017 Filed on Feb 06, 2018	44,420	N/A
MGNX Macrogenics Inc Healthcare	Q4 2017 Filed on Feb 06, 2018	358,161	$16.19 - $20.3 $5.8M - $7.27M

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