0001144204-11-043361.txt : 20110802
0001144204-11-043361.hdr.sgml : 20110802
20110802150213
ACCESSION NUMBER: 0001144204-11-043361
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110630
FILED AS OF DATE: 20110802
DATE AS OF CHANGE: 20110802
EFFECTIVENESS DATE: 20110802
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: EMERALD MUTUAL FUND ADVISERS TRUST
CENTRAL INDEX KEY: 0001352895
IRS NUMBER: 202531403
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-11623
FILM NUMBER: 111003303
BUSINESS ADDRESS:
STREET 1: 1703 OREGON PIKE
CITY: LANCASTER
STATE: PA
ZIP: 17601
BUSINESS PHONE: 717 396 1116
MAIL ADDRESS:
STREET 1: 1703 OREGON PIKE
CITY: LANCASTER
STATE: PA
ZIP: 17601
13F-HR
1
v230572_13fhr.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2011
Check here if Amendment [ ]; Amendment Number: ___
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Emerald Mutual Fund Advisers, Trust
Address: 1703 Oregon Pike
Suite 101
Lancaster, PA 17601
Form 13F File Number: 028-05618
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Kenneth G. Mertz II
Title: President
Phone: 717-396-1116
Signature, Place, and Date of Signing:
Kenneth G. Mertz II Lancaster, Pennsylvania August 1, 2011
Report Type (Check only one.):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
None.
Form 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 294
FORM 13F INFORMATION TABLE VALUE TOTAL: $327,213
(thousands)
List of other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state NONE and omit the column headings
and list entries.]
NO. 13F FILE NUMBER NAME
01 028-12088 FORWARD MANAGEMENT, LLC
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 1
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
1ST UNITED BANCORP INC FLA COM COM 33740N105 66 10550 SH OTHER 01 0 10550 0
3-D SYS CORP DEL COM NEW COM 88554D205 2223 112794 SH SOLE 112794 0 0
3-D SYS CORP DEL COM NEW COM 88554D205 1760 89277 SH OTHER 01 0 89277 0
ABOVENET INC COM COM 00374N107 2367 33600 SH SOLE 33600 0 0
ABOVENET INC COM COM 00374N107 1906 27050 SH OTHER 01 0 27050 0
ACME PACKET INC COM COM 004764106 1811 25826 SH SOLE 25826 0 0
ACME PACKET INC COM COM 004764106 1450 20673 SH OTHER 01 0 20673 0
ADTRAN INC COM COM 00738A106 1154 29804 SH SOLE 29804 0 0
ADTRAN INC COM COM 00738A106 976 25212 SH OTHER 01 0 25212 0
AFFILIATED MANAGERS GROUP INCO COM 008252108 465 4580 SH OTHER 01 0 4580 0
AIR TRANSPORT SERVICES GROUP COM 00922R105 615 89727 SH SOLE 89727 0 0
AIR TRANSPORT SERVICES GROUP COM 00922R105 509 74333 SH OTHER 01 0 74333 0
ALKERMES INC COM COM 01642T108 1607 86376 SH SOLE 86376 0 0
ALKERMES INC COM COM 01642T108 1345 72328 SH OTHER 01 0 72328 0
ALLIED NEVADA GOLD CORP COM COM 019344100 1825 51596 SH SOLE 51596 0 0
ALLIED NEVADA GOLD CORP COM COM 019344100 1446 40868 SH OTHER 01 0 40868 0
AMERICAN BUSINESS BK LA CALICO COM 02475L105 308 13077 SH OTHER 01 0 13077 0
AMERICAN CAMPUS CMNTYS INC COM COM 024835100 490 13790 SH OTHER 01 0 13790 0
AMERICAN RAILCAR INDS INC COM COM 02916P103 1163 49592 SH SOLE 49592 0 0
AMERICAN RAILCAR INDS INC COM COM 02916P103 928 39581 SH OTHER 01 0 39581 0
APPLIED INDL TECHNLGIES INC CO COM 03820C105 553 15540 SH SOLE 15540 0 0
APPLIED INDL TECHNLGIES INC CO COM 03820C105 258 7250 SH OTHER 01 0 7250 0
ARUBA NETWORKS INC COM COM 043176106 1904 64438 SH SOLE 64438 0 0
ARUBA NETWORKS INC COM COM 043176106 1585 53638 SH OTHER 01 0 53638 0
BANCORP INC DEL COM COM 05969A105 890 85140 SH OTHER 01 0 85140 0
BANK OF MARIN BANCORP COM COM 063425102 773 21866 SH OTHER 01 0 21866 0
BANK OF THE OZARKS INC COM COM 063904106 1323 25410 SH SOLE 25410 0 0
BANK OF THE OZARKS INC COM COM 063904106 2901 55719 SH OTHER 01 0 55719 0
BANKRATE INC COM 06647F102 283 17050 SH OTHER 01 0 17050 0
BANKUNITED INC COM 06652K103 309 11661 SH OTHER 01 0 11661 0
BASIC ENERGY SVCS INC NEW COM COM 06985P100 2018 64120 SH SOLE 64120 0 0
BASIC ENERGY SVCS INC NEW COM COM 06985P100 1666 52940 SH OTHER 01 0 52940 0
BERKSHIRE HILLS BANCORP INC CO COM 084680107 238 10630 SH OTHER 01 0 10630 0
BIOMIMETIC THERAPEUTICS INC CO COM 09064X101 100 19464 SH SOLE 19464 0 0
BIOMIMETIC THERAPEUTICS INC CO COM 09064X101 79 15342 SH OTHER 01 0 15342 0
BIO-REFERENCE LABS INC COM PAR COM 09057G602 1020 48798 SH SOLE 48798 0 0
BIO-REFERENCE LABS INC COM PAR COM 09057G602 815 38976 SH OTHER 01 0 38976 0
BJ'S RESTAURANT INC COM 09180C106 2266 43282 SH SOLE 43282 0 0
BJ'S RESTAURANT INC COM 09180C106 1894 36179 SH OTHER 01 0 36179 0
BLUEGREEN CORP COM COM 096231105 467 159361 SH SOLE 159361 0 0
BLUEGREEN CORP COM COM 096231105 382 130480 SH OTHER 01 0 130480 0
BODY CENTRAL CORP COM 09689U102 1975 83942 SH SOLE 83942 0 0
BODY CENTRAL CORP COM 09689U102 1603 68110 SH OTHER 01 0 68110 0
BRAVO BRIO RESTAURANT GROUP COM 10567B109 1000 40922 SH SOLE 40922 0 0
BRAVO BRIO RESTAURANT GROUP COM 10567B109 793 32476 SH OTHER 01 0 32476 0
BRYN MAWR BK CORP COM COM 117665109 247 12180 SH OTHER 01 0 12180 0
CALIFORNIA UTD BK ENCINO CA CO COM 130781107 702 57300 SH OTHER 01 0 57300 0
CAPITOL FEDERAL FINANCIAL COM 14057J101 266 22635 SH OTHER 01 0 22635 0
CARDINAL FINL CORP COM COM 14149F109 657 60020 SH OTHER 01 0 60020 0
CAROLINA TR BK LINCOLNTON NCCO COM 144200102 83 28050 SH OTHER 01 0 28050 0
CASS INFORMATION SYS INC COM COM 14808P109 1000 26483 SH OTHER 01 0 26483 0
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 2
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
CATALYST HEALTH SOLUTIONS INC COM 14888B103 2007 35954 SH SOLE 35954 0 0
CATALYST HEALTH SOLUTIONS INC COM 14888B103 1576 28225 SH OTHER 01 0 28225 0
CAVIUM INC COM COM 14964U108 1380 31654 SH SOLE 31654 0 0
CAVIUM INC COM COM 14964U108 1095 25129 SH OTHER 01 0 25129 0
CENTRAL VALLEY CMNTY BANCORPCO COM 155685100 102 15350 SH OTHER 01 0 15350 0
CHART INDS INC COM PAR $0.01 COM 16115Q308 1233 22840 SH SOLE 22840 0 0
CHART INDS INC COM PAR $0.01 COM 16115Q308 986 18260 SH OTHER 01 0 18260 0
CHENIERE ENERGY INC COM NEW COM 16411R208 565 61670 SH SOLE 61670 0 0
CHENIERE ENERGY INC COM NEW COM 16411R208 459 50115 SH OTHER 01 0 50115 0
CITIZENS FINL SVCS INC COM COM 174615104 258 7141 SH OTHER 01 0 7141 0
COMMUNITY BK SYS INC COM COM 203607106 235 9490 SH OTHER 01 0 9490 0
COST PLUS INC CALIF COM COM 221485105 1394 139366 SH SOLE 139366 0 0
COST PLUS INC CALIF COM COM 221485105 1102 110171 SH OTHER 01 0 110171 0
CROCS INC COM COM 227046109 2699 104812 SH SOLE 104812 0 0
CROCS INC COM COM 227046109 2114 82081 SH OTHER 01 0 82081 0
DEMANDTEC INC COM 24802R506 1326 145769 SH SOLE 145769 0 0
DEMANDTEC INC COM 24802R506 1062 116736 SH OTHER 01 0 116736 0
DIAMOND FOODS INC COM 252603105 2894 37909 SH SOLE 37909 0 0
DIAMOND FOODS INC COM 252603105 2281 29878 SH OTHER 01 0 29878 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 401 37390 SH OTHER 01 0 37390 0
DICE HLDGS INC COM COM 253017107 848 62717 SH SOLE 62717 0 0
DICE HLDGS INC COM COM 253017107 677 50101 SH OTHER 01 0 50101 0
DIME CMNTY BANCORP INC COM COM 253922108 333 22900 SH OTHER 01 0 22900 0
DUPONT FABROS TECHNOLOGY INCCO COM 26613Q106 955 37914 SH SOLE 37914 0 0
DUPONT FABROS TECHNOLOGY INCCO COM 26613Q106 1339 53140 SH OTHER 01 0 53140 0
EAGLE BANCORP INC MD COM COM 268948106 526 39542 SH OTHER 01 0 39542 0
EAST WEST BANCORP INC COM COM 27579R104 873 43200 SH OTHER 01 0 43200 0
ENTERPRISE FINL SVCS CORP COM COM 293712105 154 11356 SH OTHER 01 0 11356 0
ENVESTNET INC COM 29404K106 770 51880 SH OTHER 01 0 51880 0
ESTERLINE TECHNOLOGIES CORP CO COM 297425100 2368 30990 SH SOLE 30990 0 0
ESTERLINE TECHNOLOGIES CORP CO COM 297425100 1952 25554 SH OTHER 01 0 25554 0
EVANS BANCORP INC COM NEW COM 29911Q208 192 14050 SH OTHER 01 0 14050 0
FARO TECHNOLOGIES INC COM COM 311642102 3255 74313 SH SOLE 74313 0 0
FARO TECHNOLOGIES INC COM COM 311642102 2572 58720 SH OTHER 01 0 58720 0
FINANCIAL INSTNS INC COM COM 317585404 302 18400 SH OTHER 01 0 18400 0
FINISH LINE INC CL A COM 317923100 1951 91180 SH SOLE 91180 0 0
FINISH LINE INC CL A COM 317923100 1559 72840 SH OTHER 01 0 72840 0
FIRST CALIFORNIA FINANCIAL GCO COM 319395109 325 91000 SH OTHER 01 0 91000 0
FIRST CTZNS BANCSHARES NC CL A COM 31946M103 631 3371 SH OTHER 01 0 3371 0
FIRST FINL BANCORP COM COM 320209109 482 28866 SH OTHER 01 0 28866 0
FIRST FINL BANCSHARES INC COM COM 32020R109 729 21150 SH OTHER 01 0 21150 0
FIRST LONG IS CORP COM COM 320734106 842 30190 SH OTHER 01 0 30190 0
FIRSTMERIT CORP COM COM 337915102 530 32084 SH OTHER 01 0 32084 0
FLUSHING FINL CORP COM COM 343873105 163 12500 SH OTHER 01 0 12500 0
FORTINET INC COM 34959E109 2555 93620 SH SOLE 93620 0 0
FORTINET INC COM 34959E109 2034 74520 SH OTHER 01 0 74520 0
FRESH MARKET INC COM 35804H106 933 24130 SH SOLE 24130 0 0
FRESH MARKET INC COM 35804H106 741 19161 SH OTHER 01 0 19161 0
FUSION-IO INC COM 36112J107 207 6882 SH SOLE 6882 0 0
FUSION-IO INC COM 36112J107 168 5572 SH OTHER 01 0 5572 0
GEVO INC COM 374396109 740 47026 SH SOLE 47026 0 0
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 3
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
GEVO INC COM 374396109 591 37564 SH OTHER 01 0 37564 0
GNC HOLDINGS INC COM 36191G107 1073 49206 SH SOLE 49206 0 0
GNC HOLDINGS INC COM 36191G107 946 43363 SH OTHER 01 0 43363 0
GUARANTY BANCORP DEL COM COM 40075T102 138 102490 SH OTHER 01 0 102490 0
GULFPORT ENERGY CORP COM NEW COM 402635304 1952 65750 SH SOLE 65750 0 0
GULFPORT ENERGY CORP COM NEW COM 402635304 1545 52050 SH OTHER 01 0 52050 0
G-III APPAREL GROUP LTD COM COM 36237H101 1163 33722 SH SOLE 33722 0 0
G-III APPAREL GROUP LTD COM COM 36237H101 930 26954 SH OTHER 01 0 26954 0
HANCOCK HLDG CO COM COM 410120109 595 19206 SH OTHER 01 0 19206 0
HEALTHSOUTH CORP COM 421924309 1850 70478 SH SOLE 70478 0 0
HEALTHSOUTH CORP COM 421924309 1464 55780 SH OTHER 01 0 55780 0
HERITAGE FINL CORP WASH COM COM 42722X106 336 25950 SH OTHER 01 0 25950 0
HERSHA HOSPITALITY TR PRIORITY COM 427825104 157 28255 SH OTHER 01 0 28255 0
HIBBETT SPORTS INC COM COM 428567101 2319 56976 SH SOLE 56976 0 0
HIBBETT SPORTS INC COM COM 428567101 1837 45114 SH OTHER 01 0 45114 0
HOPFED BANCORP INC COM COM 439734104 147 18533 SH OTHER 01 0 18533 0
HORIZON BANCORP IND COM COM 440407104 582 21632 SH OTHER 01 0 21632 0
HUB GROUP INC CL A COM 443320106 1597 42411 SH SOLE 42411 0 0
HUB GROUP INC CL A COM 443320106 1261 33493 SH OTHER 01 0 33493 0
IBERIABANK CORP COM COM 450828108 1049 18194 SH OTHER 01 0 18194 0
II-VI INC COM COM 902104108 2713 105972 SH SOLE 105972 0 0
II-VI INC COM COM 902104108 2179 85100 SH OTHER 01 0 85100 0
INCYTE PHARMACEUTICALS INC COM COM 45337C102 1273 67210 SH SOLE 67210 0 0
INCYTE PHARMACEUTICALS INC COM COM 45337C102 1008 53200 SH OTHER 01 0 53200 0
INDEPENDENT BK CORP MASS COM COM 453836108 440 16750 SH OTHER 01 0 16750 0
INPHI CORP COM COM 45772F107 896 51470 SH SOLE 51470 0 0
INPHI CORP COM COM 45772F107 644 37005 SH OTHER 01 0 37005 0
INTERDIGITAL INC PA COM 45867G101 1345 32932 SH SOLE 32932 0 0
INTERDIGITAL INC PA COM 45867G101 1062 25996 SH OTHER 01 0 25996 0
INTRALINKS HLDGS INC COM COM 46118H104 1144 66188 SH SOLE 66188 0 0
INTRALINKS HLDGS INC COM COM 46118H104 908 52555 SH OTHER 01 0 52555 0
IPG PHOTONICS CORP COM 44980X109 4324 59463 SH SOLE 59463 0 0
IPG PHOTONICS CORP COM 44980X109 3422 47058 SH OTHER 01 0 47058 0
IXIA COM COM 45071R109 516 40311 SH SOLE 40311 0 0
IXIA COM COM 45071R109 435 33967 SH OTHER 01 0 33967 0
KODIAK OIL & GAS CORP COM COM 50015Q100 876 151884 SH SOLE 151884 0 0
KODIAK OIL & GAS CORP COM COM 50015Q100 966 167500 SH OTHER 01 0 167500 0
KRATON PERFORMANCE POLYMERS CO COM 50077C106 1939 49512 SH SOLE 49512 0 0
KRATON PERFORMANCE POLYMERS CO COM 50077C106 1549 39546 SH OTHER 01 0 39546 0
LAKELAND FINL CORP COM COM 511656100 647 29063 SH OTHER 01 0 29063 0
LOGMEIN INC COM 54142L109 903 23402 SH SOLE 23402 0 0
LOGMEIN INC COM 54142L109 720 18676 SH OTHER 01 0 18676 0
MAGNUM HUNTER RES CORP DEL COM COM 55973B102 1314 194361 SH SOLE 194361 0 0
MAGNUM HUNTER RES CORP DEL COM COM 55973B102 1099 162540 SH OTHER 01 0 162540 0
MASIMO CORPORATION COM 574795100 944 31806 SH SOLE 31806 0 0
MASIMO CORPORATION COM 574795100 749 25248 SH OTHER 01 0 25248 0
MEADOWBROOK INS GROUP INC COM COM 58319P108 793 80032 SH OTHER 01 0 80032 0
MERIT MED SYS INC COM COM 589889104 1170 65110 SH SOLE 65110 0 0
MERIT MED SYS INC COM COM 589889104 939 52276 SH OTHER 01 0 52276 0
MICROSEMI CORP COM COM 595137100 1003 48911 SH SOLE 48911 0 0
MICROSEMI CORP COM COM 595137100 803 39195 SH OTHER 01 0 39195 0
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 4
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
MIDDLEBY CORP COM COM 596278101 2004 21314 SH SOLE 21314 0 0
MIDDLEBY CORP COM COM 596278101 1474 15672 SH OTHER 01 0 15672 0
MIDSOUTH BANCORP INC COM COM 598039105 199 14566 SH OTHER 01 0 14566 0
MID-AMER APT CMNTYS INC COM COM 59522J103 797 11810 SH SOLE 11810 0 0
MID-AMER APT CMNTYS INC COM COM 59522J103 1039 15400 SH OTHER 01 0 15400 0
MOLINA HEALTHCARE INC COM COM 60855R100 1918 70714 SH SOLE 70714 0 0
MOLINA HEALTHCARE INC COM COM 60855R100 1525 56226 SH OTHER 01 0 56226 0
MWI VETERINARY SUPPLY INC COM COM 55402X105 4302 53258 SH SOLE 53258 0 0
MWI VETERINARY SUPPLY INC COM COM 55402X105 3265 40429 SH OTHER 01 0 40429 0
NATIONAL RETAIL PROPERTIES INC COM 637417106 213 8700 SH OTHER 01 0 8700 0
NATUS MEDICAL INC DEL COM COM 639050103 1462 96510 SH SOLE 96510 0 0
NATUS MEDICAL INC DEL COM COM 639050103 1163 76770 SH OTHER 01 0 76770 0
NETLOGIC MICROSYSTEMS INC COM COM 64118B100 902 22316 SH SOLE 22316 0 0
NETLOGIC MICROSYSTEMS INC COM COM 64118B100 717 17736 SH OTHER 01 0 17736 0
NEWMARKET CORP COM COM 651587107 1447 8479 SH SOLE 8479 0 0
NEWMARKET CORP COM COM 651587107 1149 6732 SH OTHER 01 0 6732 0
NORDSON CORP COM COM 655663102 915 16686 SH SOLE 16686 0 0
NORDSON CORP COM COM 655663102 735 13398 SH OTHER 01 0 13398 0
NPS PHARMACEUTICALS INC COM COM 62936P103 925 97837 SH SOLE 97837 0 0
NPS PHARMACEUTICALS INC COM COM 62936P103 741 78388 SH OTHER 01 0 78388 0
OLD NATL BANCORP IND COM COM 680033107 215 19950 SH OTHER 01 0 19950 0
ORIENTAL FINL GROUP INC COM COM 68618W100 187 14500 SH OTHER 01 0 14500 0
ORRSTOWN FINL SVCS INC COM COM 687380105 783 29767 SH OTHER 01 0 29767 0
PACIFIC PREMIER BANCORP COM COM 69478X105 176 27490 SH OTHER 01 0 27490 0
PALOMAR MED TECHNOLOGIES INCCO COM 697529303 709 62872 SH SOLE 62872 0 0
PALOMAR MED TECHNOLOGIES INCCO COM 697529303 568 50341 SH OTHER 01 0 50341 0
PANDORA MEDIA INC COM 698354107 298 15743 SH SOLE 15743 0 0
PANDORA MEDIA INC COM 698354107 238 12609 SH OTHER 01 0 12609 0
PAREXEL INTL CORP COM COM 699462107 952 40425 SH SOLE 40425 0 0
PAREXEL INTL CORP COM COM 699462107 677 28724 SH OTHER 01 0 28724 0
PHARMASSET INC COM COM 71715N106 1536 13686 SH SOLE 13686 0 0
PHARMASSET INC COM COM 71715N106 1220 10872 SH OTHER 01 0 10872 0
PINNACLE FINL PARTNERS INC COM COM 72346Q104 256 16460 SH OTHER 01 0 16460 0
PREFERRED APARTMENT COMMUNITIE COM 74039L103 676 74356 SH OTHER 01 0 74356 0
PROSPERITY BANCSHARES INC COM COM 743606105 739 16870 SH OTHER 01 0 16870 0
QLIK TECHNOLOGIES INC COM 74733T105 1965 57681 SH SOLE 57681 0 0
QLIK TECHNOLOGIES INC COM 74733T105 1541 45231 SH OTHER 01 0 45231 0
QUALITY SYS INC COM COM 747582104 1085 12430 SH SOLE 12430 0 0
QUALITY SYS INC COM COM 747582104 871 9980 SH OTHER 01 0 9980 0
RACKSPACE HOSTING INC COM COM 750086100 1569 36720 SH SOLE 36720 0 0
RACKSPACE HOSTING INC COM COM 750086100 1256 29380 SH OTHER 01 0 29380 0
RAVEN INDS INC COM COM 754212108 1222 21935 SH SOLE 21935 0 0
RAVEN INDS INC COM COM 754212108 979 17582 SH OTHER 01 0 17582 0
RAYMOND JAMES FINL INC COM COM 754730109 385 11960 SH OTHER 01 0 11960 0
RESPONSYS INC COM 761248103 1064 59999 SH SOLE 59999 0 0
RESPONSYS INC COM 761248103 996 56184 SH OTHER 01 0 56184 0
RIVERBED TECHNOLOGY INC COM COM 768573107 702 17734 SH SOLE 17734 0 0
RIVERBED TECHNOLOGY INC COM COM 768573107 561 14162 SH OTHER 01 0 14162 0
ROADRUNNER TRNSN SVCS HLDG ICO COM 76973Q105 721 47840 SH SOLE 47840 0 0
ROADRUNNER TRNSN SVCS HLDG ICO COM 76973Q105 576 38221 SH OTHER 01 0 38221 0
ROBBINS & MYERS INC COM COM 770196103 606 11458 SH SOLE 11458 0 0
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 5
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
ROBBINS & MYERS INC COM COM 770196103 480 9074 SH OTHER 01 0 9074 0
ROVI CORP COM COM 779376102 767 13368 SH SOLE 13368 0 0
ROVI CORP COM COM 779376102 611 10647 SH OTHER 01 0 10647 0
RPC INC COM COM 749660106 1370 55834 SH SOLE 55834 0 0
RPC INC COM COM 749660106 1097 44712 SH OTHER 01 0 44712 0
RUSH ENTERPISES INC CL A COM 781846209 866 45509 SH SOLE 45509 0 0
RUSH ENTERPISES INC CL A COM 781846209 688 36149 SH OTHER 01 0 36149 0
SAGENT PHARMACEUTICALS INC COM 786692103 1563 57942 SH SOLE 57942 0 0
SAGENT PHARMACEUTICALS INC COM 786692103 1253 46431 SH OTHER 01 0 46431 0
SALIX PHARMACEUTICALS LTD COM COM 795435106 1568 39371 SH SOLE 39371 0 0
SALIX PHARMACEUTICALS LTD COM COM 795435106 1246 31281 SH OTHER 01 0 31281 0
SANDY SPRING BANCORP INC CMT-C COM 800363103 306 16983 SH OTHER 01 0 16983 0
SCBT FINANCIAL CORPOERATION COM 78401V102 365 12740 SH OTHER 01 0 12740 0
SCHWEITZER-MAUDUIT INTL INC CO COM 808541106 1482 26390 SH SOLE 26390 0 0
SCHWEITZER-MAUDUIT INTL INC CO COM 808541106 1119 19920 SH OTHER 01 0 19920 0
SHORETEL INC COM COM 825211105 1841 180481 SH SOLE 180481 0 0
SHORETEL INC COM COM 825211105 1457 142845 SH OTHER 01 0 142845 0
SHUFFLE MASTER INC COM COM 825549108 1704 182195 SH SOLE 182195 0 0
SHUFFLE MASTER INC COM COM 825549108 965 103123 SH OTHER 01 0 103123 0
SIGNATURE BK NEW YORK N Y COM COM 82669G104 1646 28776 SH SOLE 28776 0 0
SIGNATURE BK NEW YORK N Y COM COM 82669G104 3311 57884 SH OTHER 01 0 57884 0
SIRONA DENTAL SYSTEMS INC COM COM 82966C103 883 16620 SH SOLE 16620 0 0
SIRONA DENTAL SYSTEMS INC COM COM 82966C103 737 13880 SH OTHER 01 0 13880 0
SOURCEFIRE INC COM COM 83616T108 1190 40034 SH SOLE 40034 0 0
SOURCEFIRE INC COM COM 83616T108 956 32163 SH OTHER 01 0 32163 0
SOUTHERN NATL BANCORP OF VA CO COM 843395104 94 13866 SH OTHER 01 0 13866 0
SOUTHWEST BANCORP INC OKLA COM COM 844767103 207 21150 SH OTHER 01 0 21150 0
STIFEL FINL CORP COM COM 860630102 1205 33606 SH SOLE 33606 0 0
STIFEL FINL CORP COM COM 860630102 1607 44804 SH OTHER 01 0 44804 0
STILLWATER MNG CO COM COM 86074Q102 480 21810 SH SOLE 21810 0 0
STILLWATER MNG CO COM COM 86074Q102 385 17480 SH OTHER 01 0 17480 0
SUCCESSFACTORS INC COM 864596101 1775 60358 SH SOLE 60358 0 0
SUCCESSFACTORS INC COM 864596101 1363 46351 SH OTHER 01 0 46351 0
SUMMIT HOTEL PROPERTIES INC COM 866082100 913 80478 SH SOLE 80478 0 0
SUMMIT HOTEL PROPERTIES INC COM 866082100 1405 123818 SH OTHER 01 0 123818 0
SUSQUEHANNA BANCSHARES INC COM COM 869099101 305 38076 SH OTHER 01 0 38076 0
SVB FINL GROUP COM COM 78486Q101 708 11858 SH OTHER 01 0 11858 0
SYNCHRONOSS TECHNOLOGIES INCCO COM 87157B103 1015 31976 SH SOLE 31976 0 0
SYNCHRONOSS TECHNOLOGIES INCCO COM 87157B103 801 25240 SH OTHER 01 0 25240 0
TALEO CORP COM 87424N104 829 22394 SH SOLE 22394 0 0
TALEO CORP COM 87424N104 664 17932 SH OTHER 01 0 17932 0
TECHE HLDG CO COM COM 878330109 724 20800 SH OTHER 01 0 20800 0
TENNANT CO COM COM 880345103 878 21986 SH SOLE 21986 0 0
TENNANT CO COM COM 880345103 701 17563 SH OTHER 01 0 17563 0
TESCO CORP COM COM 88157K101 858 44184 SH SOLE 44184 0 0
TESCO CORP COM COM 88157K101 686 35352 SH OTHER 01 0 35352 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 952 36862 SH SOLE 36862 0 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 1786 69139 SH OTHER 01 0 69139 0
TEXAS ROADHOUSE INC CL A COM 882681109 2555 145724 SH SOLE 145724 0 0
TEXAS ROADHOUSE INC CL A COM 882681109 2022 115337 SH OTHER 01 0 115337 0
THERAVANCE INC COM COM 88338T104 689 31020 SH SOLE 31020 0 0
EMERALD MUTUAL FUND ADVISERS TRUST PAGE 6
FORM 13F INFORMATION TABLE
AS OF DATE: 06/30/11
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------------------------------------------------------------------------------------------------------------
THERAVANCE INC COM COM 88338T104 541 24350 SH OTHER 01 0 24350 0
TIBCO SOFTWARE INC COM COM 88632Q103 2389 82332 SH SOLE 82332 0 0
TIBCO SOFTWARE INC COM COM 88632Q103 1915 65976 SH OTHER 01 0 65976 0
TOMPKINS TRUSTCO INC COM COM 890110109 334 8520 SH OTHER 01 0 8520 0
TOWER BANCORP INC COM COM 891709107 273 9976 SH OTHER 01 0 9976 0
TOWER GROUP INC COM COM 891777104 479 20110 SH OTHER 01 0 20110 0
TRIUMPH GROUP INC NEW COM COM 896818101 2631 52832 SH SOLE 52832 0 0
TRIUMPH GROUP INC NEW COM COM 896818101 2076 41696 SH OTHER 01 0 41696 0
ULTA SALON COSMETICS & FRAGR COM 90384S303 2654 41090 SH SOLE 41090 0 0
ULTA SALON COSMETICS & FRAGR COM 90384S303 2184 33821 SH OTHER 01 0 33821 0
ULTIMATE SOFTWARE GROUP INC CO COM 90385D107 2355 43263 SH SOLE 43263 0 0
ULTIMATE SOFTWARE GROUP INC CO COM 90385D107 1863 34223 SH OTHER 01 0 34223 0
ULTRA CLEAN HLDGS INC COM COM 90385V107 848 93436 SH SOLE 93436 0 0
ULTRA CLEAN HLDGS INC COM COM 90385V107 673 74068 SH OTHER 01 0 74068 0
URSTADT BIDDLE PPTYS INC CL A COM 917286205 503 27780 SH OTHER 01 0 27780 0
VALUEVISION INTL INC CL A COM 92047K107 1005 131418 SH SOLE 131418 0 0
VALUEVISION INTL INC CL A COM 92047K107 793 103707 SH OTHER 01 0 103707 0
VIASAT INC COM COM 92552V100 916 21174 SH SOLE 21174 0 0
VIASAT INC COM COM 92552V100 729 16848 SH OTHER 01 0 16848 0
VIEWPOINT FINL GROUP INC MD CO COM 92672A101 505 36593 SH OTHER 01 0 36593 0
VIST FINANCIAL CORP COM COM 918255100 298 42479 SH OTHER 01 0 42479 0
VITAMIN SHOPPE INC COM COM 92849E101 2460 53762 SH SOLE 53762 0 0
VITAMIN SHOPPE INC COM COM 92849E101 1957 42761 SH OTHER 01 0 42761 0
VOLCANO CORPORATION COM COM 928645100 1650 51085 SH SOLE 51085 0 0
VOLCANO CORPORATION COM COM 928645100 1297 40165 SH OTHER 01 0 40165 0
WABASH NATL CORP COM COM 929566107 1294 138140 SH SOLE 138140 0 0
WABASH NATL CORP COM COM 929566107 1025 109390 SH OTHER 01 0 109390 0
WALKER & DUNLOP INC COM 93148P102 1106 83122 SH SOLE 83122 0 0
WALKER & DUNLOP INC COM 93148P102 1432 107683 SH OTHER 01 0 107683 0
WARNACO GROUP INC CL A NEW COM 934390402 810 15507 SH SOLE 15507 0 0
WARNACO GROUP INC CL A NEW COM 934390402 647 12387 SH OTHER 01 0 12387 0
WASHINGTON BKG CO OAK HBR WACO COM 937303105 376 28463 SH OTHER 01 0 28463 0
WESCO INTL INC COM COM 95082P105 2791 51600 SH SOLE 51600 0 0
WESCO INTL INC COM COM 95082P105 1980 36610 SH OTHER 01 0 36610 0
WESTERN ALLIANCE BANCORP COM 957638109 415 58387 SH OTHER 01 0 58387 0
WET SEAL INC CL A COM 961840105 850 190262 SH SOLE 190262 0 0
WET SEAL INC CL A COM 961840105 669 149617 SH OTHER 01 0 149617 0
WHITESTONE REIT CL B SBI COM 966084204 665 52300 SH OTHER 01 0 52300 0
WINTRUST FINL CORP COM COM 97650W108 932 28950 SH OTHER 01 0 28950 0