-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AnPM3CfUvWU7gwIJZ1O/VYDCv41Z7qJeSnYtwPEHkkF7KKGXh5TzIOtF0GVUvgFv IJPqLIjbwaN/egxkg92U5Q== 0001144204-08-042449.txt : 20080729 0001144204-08-042449.hdr.sgml : 20080729 20080729161827 ACCESSION NUMBER: 0001144204-08-042449 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080729 DATE AS OF CHANGE: 20080729 EFFECTIVENESS DATE: 20080729 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: 08976068 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 v121191_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, 2008 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: /s/ Kenneth G. Mertz II Lancaster, Pennsylvania July 28, 2008 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: 317 FORM 13F INFORMATION TABLE VALUE TOTAL: $499,321 (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: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 99 CENTS ONLY STORES COM COM 65440K106 844 127834 SH SOLE 127834 0 0 99 CENTS ONLY STORES COM COM 65440K106 457 69202 SH OTHER 01 0 69202 0 ACTUANT CORP CL A NEW COM 00508X203 1424 45410 SH SOLE 45410 0 0 ACTUANT CORP CL A NEW COM 00508X203 767 24460 SH OTHER 01 0 24460 0 ADVENT SOFTWARE INC COM COM 007974108 2265 62778 SH SOLE 62778 0 0 ADVENT SOFTWARE INC COM COM 007974108 1136 31474 SH OTHER 01 0 31474 0 AEROPOSTALE INC COM 007865108 1880 60020 SH SOLE 60020 0 0 AEROPOSTALE INC COM 007865108 1018 32500 SH OTHER 01 0 32500 0 AFFILIATED MANAGERS GROUP INCO COM 008252108 477 5300 SH OTHER 01 0 5300 0 AIRGAS INC COM COM 009363102 6669 114213 SH SOLE 114213 0 0 AIRGAS INC COM COM 009363102 3721 63723 SH OTHER 01 0 63723 0 ALEXION PHARMACEUTICALS INC CO COM 015351109 4626 63804 SH SOLE 63804 0 0 ALEXION PHARMACEUTICALS INC CO COM 015351109 2517 34712 SH OTHER 01 0 34712 0 ALPHA NATURAL RESOURCES INC CO COM 02076X102 2680 25693 SH SOLE 25693 0 0 ALPHA NATURAL RESOURCES INC CO COM 02076X102 1453 13930 SH OTHER 01 0 13930 0 AMERICAN CAMPUS CMNTYS INC COM COM 024835100 1314 47200 SH OTHER 01 0 47200 0 AMERICAN ECOLOGY CORP COM NEW COM 025533407 1134 38390 SH SOLE 38390 0 0 AMERICAN ECOLOGY CORP COM NEW COM 025533407 611 20700 SH OTHER 01 0 20700 0 AMERIGON INC COM COM 03070L300 704 99010 SH SOLE 99010 0 0 AMERIGON INC COM COM 03070L300 390 54799 SH OTHER 01 0 54799 0 AMTRUST FINANCIAL SERVICES ICO COM 032359309 404 32100 SH OTHER 01 0 32100 0 ANSOFT CORP COM COM 036384105 4745 130348 SH SOLE 130348 0 0 ANSOFT CORP COM COM 036384105 2544 69883 SH OTHER 01 0 69883 0 ANSYS INC COM COM 03662Q105 6269 133047 SH SOLE 133047 0 0 ANSYS INC COM COM 03662Q105 3471 73664 SH OTHER 01 0 73664 0 APPLERA CORP COM CELERA GENO COM 038020202 1208 106316 SH SOLE 106316 0 0 APPLERA CORP COM CELERA GENO COM 038020202 662 58263 SH OTHER 01 0 58263 0 ARBITRON INC COM COM 03875Q108 1406 29600 SH SOLE 29600 0 0 ARBITRON INC COM COM 03875Q108 758 15950 SH OTHER 01 0 15950 0 ATHEROS COMMUNICATIONS INC COM COM 04743P108 1405 46836 SH SOLE 46836 0 0 ATHEROS COMMUNICATIONS INC COM COM 04743P108 773 25750 SH OTHER 01 0 25750 0 AUXILIUM PHARMACEUTICALS INCCO COM 05334D107 1963 58400 SH SOLE 58400 0 0 AUXILIUM PHARMACEUTICALS INCCO COM 05334D107 1094 32550 SH OTHER 01 0 32550 0 AXSYS TECHNOLOGIES INC COM COM 054615109 1455 27950 SH SOLE 27950 0 0 AXSYS TECHNOLOGIES INC COM COM 054615109 785 15080 SH OTHER 01 0 15080 0 BALDOR ELEC CO COM COM 057741100 1279 36550 SH SOLE 36550 0 0 BALDOR ELEC CO COM COM 057741100 693 19800 SH OTHER 01 0 19800 0 BANCORPSOUTH INC COM COM 059692103 311 17800 SH OTHER 01 0 17800 0 BANK OF THE OZARKS INC COM COM 063904106 1091 73419 SH OTHER 01 0 73419 0 BANNER CORP COM COM 06652V109 181 20400 SH OTHER 01 0 20400 0 BARE ESCENTUALS INC COM 067511105 2418 129120 SH SOLE 129120 0 0 BARE ESCENTUALS INC COM 067511105 1263 67455 SH OTHER 01 0 67455 0 BERKSHIRE HILLS BANCORP INC CO COM 084680107 736 31100 SH OTHER 01 0 31100 0 BIOMARIN PHARMACEUTICAL INC CO COM 09061G101 874 30150 SH SOLE 30150 0 0 BIOMARIN PHARMACEUTICAL INC CO COM 09061G101 473 16330 SH OTHER 01 0 16330 0 BIOMIMETIC THERAPEUTICS INC CO COM 09064X101 601 50400 SH SOLE 50400 0 0 BIOMIMETIC THERAPEUTICS INC CO COM 09064X101 311 26060 SH OTHER 01 0 26060 0 BIO-REFERENCE LABS INC COM PAR COM 09057G602 2534 113590 SH SOLE 113590 0 0 BIO-REFERENCE LABS INC COM PAR COM 09057G602 1432 64168 SH OTHER 01 0 64168 0 BLACKBOARD INC COM COM 091935502 4492 117501 SH SOLE 117501 0 0 BLACKBOARD INC COM COM 091935502 2463 64419 SH OTHER 01 0 64419 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 2 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- BROCADE COMMUNICATIONS SYS ICO COM 111621306 3273 397170 SH SOLE 397170 0 0 BROCADE COMMUNICATIONS SYS ICO COM 111621306 1801 218600 SH OTHER 01 0 218600 0 BUCYRUS INTL INC NEW CL A COM 118759109 1589 21760 SH SOLE 21760 0 0 BUCYRUS INTL INC NEW CL A COM 118759109 863 11820 SH OTHER 01 0 11820 0 CAL DIVE INTL INC DEL COM COM 12802T101 2006 140410 SH SOLE 140410 0 0 CAL DIVE INTL INC DEL COM COM 12802T101 1082 75690 SH OTHER 01 0 75690 0 CALIFORNIA PIZZA KITCHEN INCCO COM 13054D109 1468 131180 SH SOLE 131180 0 0 CALIFORNIA PIZZA KITCHEN INCCO COM 13054D109 790 70642 SH OTHER 01 0 70642 0 CAMDEN NATL CORP COM COM 133034108 255 10938 SH OTHER 01 0 10938 0 CAPELLA EDUCATION CO COM 139594105 2606 43680 SH SOLE 43680 0 0 CAPELLA EDUCATION CO COM 139594105 1402 23500 SH OTHER 01 0 23500 0 CARRIZO OIL & GAS INC COM COM 144577103 1359 19963 SH SOLE 19963 0 0 CARRIZO OIL & GAS INC COM COM 144577103 737 10820 SH OTHER 01 0 10820 0 CASCADE FINL CORP COM COM 147272108 887 136327 SH OTHER 01 0 136327 0 CASS INFORMATION SYS INC COM COM 14808P109 1654 51633 SH OTHER 01 0 51633 0 CAVIUM NETWORKS INC COM COM 14965A101 1513 72050 SH SOLE 72050 0 0 CAVIUM NETWORKS INC COM COM 14965A101 822 39120 SH OTHER 01 0 39120 0 CEPHEID COM COM 15670R107 758 26950 SH SOLE 26950 0 0 CEPHEID COM COM 15670R107 410 14588 SH OTHER 01 0 14588 0 CHARLOTTE RUSSE HOLDING INC COM 161048103 1964 110570 SH SOLE 110570 0 0 CHARLOTTE RUSSE HOLDING INC COM 161048103 1081 60880 SH OTHER 01 0 60880 0 CHART INDS INC COM PAR $0.01 COM 16115Q308 2261 46480 SH SOLE 46480 0 0 CHART INDS INC COM PAR $0.01 COM 16115Q308 1220 25080 SH OTHER 01 0 25080 0 CHIQUITA BRANDS INTL INC COM COM 170032809 2407 158662 SH SOLE 158662 0 0 CHIQUITA BRANDS INTL INC COM COM 170032809 1364 89931 SH OTHER 01 0 89931 0 COBIZ INC COM COM 190897108 214 32512 SH OTHER 01 0 32512 0 CODORUS VALLEY BANCORP COM COM 192025104 1155 84767 SH OTHER 01 0 84767 0 COMSTOCK RES INC COM COM 205768203 1849 21900 SH SOLE 21900 0 0 COMSTOCK RES INC COM COM 205768203 996 11800 SH OTHER 01 0 11800 0 CONCEPTUS INC COM COM 206016107 1453 78600 SH SOLE 78600 0 0 CONCEPTUS INC COM COM 206016107 790 42750 SH OTHER 01 0 42750 0 CULLEN FROST BANKERS INC COM COM 229899109 1715 34400 SH OTHER 01 0 34400 0 C&D TECHNOLOGIES INC COM COM 124661109 89 10500 SH OTHER 01 0 10500 0 DATA DOMAIN INC COM COM 23767P109 1170 50169 SH SOLE 50169 0 0 DATA DOMAIN INC COM COM 23767P109 645 27659 SH OTHER 01 0 27659 0 DIAMOND FOODS INC COM 252603105 2298 99727 SH SOLE 99727 0 0 DIAMOND FOODS INC COM 252603105 1302 56500 SH OTHER 01 0 56500 0 DIME CMNTY BANCORP INC COM COM 253922108 533 32300 SH OTHER 01 0 32300 0 DUFF & PHELPS CORP-CL A COM 26433B107 611 36900 SH OTHER 01 0 36900 0 EASTERN VA BANKSHARES INC COM COM 277196101 240 15016 SH OTHER 01 0 15016 0 EMERGENCY MEDICAL SVCS CORP CL COM 29100P102 850 37580 SH SOLE 37580 0 0 EMERGENCY MEDICAL SVCS CORP CL COM 29100P102 459 20304 SH OTHER 01 0 20304 0 ENCORE BANCSHARES INC COM 29255V201 871 55670 SH OTHER 01 0 55670 0 ENERGY CONVRSN DEVICES INC COM COM 292659109 685 9300 SH SOLE 9300 0 0 ENERGY CONVRSN DEVICES INC COM COM 292659109 368 5000 SH OTHER 01 0 5000 0 ENTERPRISE FINL SVCS CORP COM COM 293712105 1158 61446 SH OTHER 01 0 61446 0 ENVIRONMENTAL TECTONICS CORPCO COM 294092101 148 109917 SH OTHER 01 0 109917 0 ERIE INDTY CO CL A COM 29530P102 1084 23483 SH OTHER 01 0 23483 0 EVERGREEN SOLAR INC COM COM 30033R108 483 49890 SH SOLE 49890 0 0 EVERGREEN SOLAR INC COM COM 30033R108 272 28074 SH OTHER 01 0 28074 0 F N B CORP PA COM COM 302520101 1222 103700 SH OTHER 01 0 103700 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 3 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- FACTSET RESH SYS INC COM COM 303075105 2496 44280 SH SOLE 44280 0 0 FACTSET RESH SYS INC COM COM 303075105 1071 19000 SH OTHER 01 0 19000 0 FAR EAST ENERGY CORP COM COM 307325100 17 24000 SH OTHER 01 0 24000 0 FEDERATED INVS INC PA CL B COM 314211103 516 15000 SH OTHER 01 0 15000 0 FEI CO COM COM 30241L109 967 42440 SH SOLE 42440 0 0 FEI CO COM COM 30241L109 413 18123 SH OTHER 01 0 18123 0 FELCOR LODGING TR INC COM COM 31430F101 395 37600 SH OTHER 01 0 37600 0 FIRST FINL BANCSHARES INC COM COM 32020R109 655 14300 SH OTHER 01 0 14300 0 FIRST MERCURY FINANCIAL CORP COM 320841109 940 53300 SH OTHER 01 0 53300 0 FIRST REGIONAL BANCORP COM COM 33615C101 73 13050 SH OTHER 01 0 13050 0 FIRST SECURITY GROUP INC COM 336312103 1075 192638 SH OTHER 01 0 192638 0 FLIR SYS INC COM COM 302445101 4739 116805 SH SOLE 116805 0 0 FLIR SYS INC COM COM 302445101 2649 65292 SH OTHER 01 0 65292 0 FORMFACTOR INC COM COM 346375108 969 52580 SH SOLE 52580 0 0 FORMFACTOR INC COM COM 346375108 527 28570 SH OTHER 01 0 28570 0 FTI CONSULTING INC COM COM 302941109 2162 31576 SH SOLE 31576 0 0 FTI CONSULTING INC COM COM 302941109 1274 18608 SH OTHER 01 0 18608 0 FULTON FINL CORP PA COM COM 360271100 369 36700 SH OTHER 01 0 36700 0 GARDNER DENVER MACHY INC COM COM 365558105 2553 44950 SH SOLE 44950 0 0 GARDNER DENVER MACHY INC COM COM 365558105 1375 24200 SH OTHER 01 0 24200 0 GATEWAY FINL HLDGS INC COM COM 368140109 491 63794 SH OTHER 01 0 63794 0 GENCO SHIPPING & TRADING LTDSH COM Y2685T107 877 13450 SH SOLE 13450 0 0 GENCO SHIPPING & TRADING LTDSH COM Y2685T107 473 7250 SH OTHER 01 0 7250 0 GEN-PROBE INC NEW COM COM 36866T103 1836 38647 SH SOLE 38647 0 0 GEN-PROBE INC NEW COM COM 36866T103 1025 21579 SH OTHER 01 0 21579 0 GEO GROUP INC COM 36159R103 830 36905 SH SOLE 36905 0 0 GEO GROUP INC COM 36159R103 469 20850 SH OTHER 01 0 20850 0 GLACIER BANCORP INC NEW COM COM 37637Q105 729 45600 SH OTHER 01 0 45600 0 GRAFTECH INTERNATIONAL LTD INC COM 384313102 1179 43950 SH SOLE 43950 0 0 GRAFTECH INTERNATIONAL LTD INC COM 384313102 636 23700 SH OTHER 01 0 23700 0 GREIF BROS CORP COM 397624107 2118 33080 SH SOLE 33080 0 0 GREIF BROS CORP COM 397624107 1211 18910 SH OTHER 01 0 18910 0 GSI COMM INC COM COM 36238G102 2783 204162 SH SOLE 204162 0 0 GSI COMM INC COM COM 36238G102 1576 115661 SH OTHER 01 0 115661 0 HAEMONETICS CORP COM COM 405024100 1838 33140 SH SOLE 33140 0 0 HAEMONETICS CORP COM COM 405024100 1023 18450 SH OTHER 01 0 18450 0 HARLEYSVILLE NATL CORP PA COM COM 412850109 938 84045 SH OTHER 01 0 84045 0 HARMONIC INC COM COM 413160102 3863 406180 SH SOLE 406180 0 0 HARMONIC INC COM COM 413160102 1982 208365 SH OTHER 01 0 208365 0 HCC INS HLDGS INC COM COM 404132102 1420 67150 SH OTHER 01 0 67150 0 HEALTH BENEFITS DIRECT CORP CO COM 42220V107 15 30000 SH OTHER 01 0 30000 0 HEARTLAND FINL USA INC COM COM 42234Q102 904 49700 SH OTHER 01 0 49700 0 HERSHA HOSPITALITY TR PRIORITY COM 427825104 334 44205 SH OTHER 01 0 44205 0 HORNBECK OFFSHORE SVCS INC NCO COM 440543106 3879 68646 SH SOLE 68646 0 0 HORNBECK OFFSHORE SVCS INC NCO COM 440543106 2241 39653 SH OTHER 01 0 39653 0 HUB GROUP INC CL A COM 443320106 3314 97110 SH SOLE 97110 0 0 HUB GROUP INC CL A COM 443320106 1870 54800 SH OTHER 01 0 54800 0 IBERIABANK CORP COM COM 450828108 667 15000 SH OTHER 01 0 15000 0 ICONIX BRAND GROUP INC COM COM 451055107 2654 219696 SH SOLE 219696 0 0 ICONIX BRAND GROUP INC COM COM 451055107 1511 125056 SH OTHER 01 0 125056 0 II-VI INC COM COM 902104108 5621 160960 SH SOLE 160960 0 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 4 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- II-VI INC COM COM 902104108 3154 90328 SH OTHER 01 0 90328 0 ILLUMINA INC COM COM 452327109 4026 46220 SH SOLE 46220 0 0 ILLUMINA INC COM COM 452327109 2227 25560 SH OTHER 01 0 25560 0 INDEPENDENT BK CORP MASS COM COM 453836108 591 24800 SH OTHER 01 0 24800 0 INFOLOGIX INC COM COM 45668X105 34 16600 SH OTHER 01 0 16600 0 INTERNATIONAL BANCSHARES CORCO COM 459044103 1348 63100 SH OTHER 01 0 63100 0 INTERNET CAPITAL GROUP INC (NE COM 46059C205 1684 217801 SH SOLE 217801 0 0 INTERNET CAPITAL GROUP INC (NE COM 46059C205 1075 139101 SH OTHER 01 0 139101 0 INVESTMENT TECHNOLOGY GRP NECO COM 46145F105 1004 30000 SH OTHER 01 0 30000 0 ITRON INC COM COM 465741106 2517 25590 SH SOLE 25590 0 0 ITRON INC COM COM 465741106 1387 14105 SH OTHER 01 0 14105 0 IXIA COM COM 45071R109 2366 340430 SH SOLE 340430 0 0 IXIA COM COM 45071R109 1318 189626 SH OTHER 01 0 189626 0 J CREW GROUP INC COM COM 46612H402 784 23750 SH SOLE 23750 0 0 J CREW GROUP INC COM COM 46612H402 348 10550 SH OTHER 01 0 10550 0 J2 GLOBAL COMMUNICATONS INC CO COM 46626E205 1156 50250 SH SOLE 50250 0 0 J2 GLOBAL COMMUNICATONS INC CO COM 46626E205 637 27690 SH OTHER 01 0 27690 0 KBW INC COM 482423100 667 32400 SH OTHER 01 0 32400 0 KENDLE INTERNATIONAL INC COM COM 48880L107 3782 104090 SH SOLE 104090 0 0 KENDLE INTERNATIONAL INC COM COM 48880L107 2047 56345 SH OTHER 01 0 56345 0 KENNAMETAL INC COM COM 489170100 3314 101800 SH SOLE 101800 0 0 KENNAMETAL INC COM COM 489170100 1818 55850 SH OTHER 01 0 55850 0 KOPPERS HOLDINGS INC COM 50060P106 2431 58050 SH SOLE 58050 0 0 KOPPERS HOLDINGS INC COM 50060P106 1373 32790 SH OTHER 01 0 32790 0 LAKELAND FINL CORP COM COM 511656100 804 42138 SH OTHER 01 0 42138 0 LAWSON SOFTWARE INC NEW COM COM 52078P102 1853 254940 SH SOLE 254940 0 0 LAWSON SOFTWARE INC NEW COM COM 52078P102 1013 139400 SH OTHER 01 0 139400 0 LUMINEX CORP DEL COM COM 55027E102 1304 63440 SH SOLE 63440 0 0 LUMINEX CORP DEL COM COM 55027E102 712 34650 SH OTHER 01 0 34650 0 MARTEK BIOSCIENCES CORP COM COM 572901106 2559 75900 SH SOLE 75900 0 0 MARTEK BIOSCIENCES CORP COM COM 572901106 1378 40880 SH OTHER 01 0 40880 0 MARVEL ENTERTAINMENT INC COM 57383T103 4607 143340 SH SOLE 143340 0 0 MARVEL ENTERTAINMENT INC COM 57383T103 2500 77770 SH OTHER 01 0 77770 0 MASIMO CORPORATION COM 574795100 3036 88396 SH SOLE 88396 0 0 MASIMO CORPORATION COM 574795100 1690 49188 SH OTHER 01 0 49188 0 MEADOWBROOK INS GROUP INC COM COM 58319P108 865 163252 SH OTHER 01 0 163252 0 MERCER INS GROUP INC COM COM 587902107 1191 68830 SH OTHER 01 0 68830 0 MET PRO CORP COM COM 590876306 570 42677 SH OTHER 01 0 42677 0 METROCORP BANCSHARES INC COM COM 591650106 1837 153063 SH OTHER 01 0 153063 0 MICROS SYS INC COM COM 594901100 4878 160002 SH SOLE 160002 0 0 MICROS SYS INC COM COM 594901100 2763 90610 SH OTHER 01 0 90610 0 MICROSEMI CORP COM COM 595137100 5313 210996 SH SOLE 210996 0 0 MICROSEMI CORP COM COM 595137100 2965 117733 SH OTHER 01 0 117733 0 MICRUS ENDOVASCULAR CORP COM COM 59518V102 1509 107609 SH SOLE 107609 0 0 MICRUS ENDOVASCULAR CORP COM COM 59518V102 919 65550 SH OTHER 01 0 65550 0 MONOLITHIC PWR SYS INC COM COM 609839105 1957 90516 SH SOLE 90516 0 0 MONOLITHIC PWR SYS INC COM COM 609839105 1059 48973 SH OTHER 01 0 48973 0 MYRIAD GENETICS INC COM COM 62855J104 1388 30486 SH SOLE 30486 0 0 MYRIAD GENETICS INC COM COM 62855J104 753 16541 SH OTHER 01 0 16541 0 NATIONAL PENN BANCSHARES INCCO COM 637138108 1005 75700 SH OTHER 01 0 75700 0 NATIONAL RETAIL PROPERTIES INC COM 637417106 2103 100630 SH SOLE 100630 0 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 5 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- NATIONAL RETAIL PROPERTIES INC COM 637417106 2180 104310 SH OTHER 01 0 104310 0 NAVIGATORS GROUP INC COM COM 638904102 2130 39400 SH OTHER 01 0 39400 0 NEUTRAL TANDEM, INC COM 64128B108 3152 180094 SH SOLE 180094 0 0 NEUTRAL TANDEM, INC COM 64128B108 1727 98682 SH OTHER 01 0 98682 0 NUANCE COMMUNICATIONS INC COM 67020Y100 2591 165340 SH SOLE 165340 0 0 NUANCE COMMUNICATIONS INC COM 67020Y100 1426 90980 SH OTHER 01 0 90980 0 OLD DOMINION FGHT LINES INC CO COM 679580100 2069 68910 SH SOLE 68910 0 0 OLD DOMINION FGHT LINES INC CO COM 679580100 1120 37310 SH OTHER 01 0 37310 0 OMNICELL INC COM COM 68213N109 1619 122854 SH SOLE 122854 0 0 OMNICELL INC COM COM 68213N109 872 66152 SH OTHER 01 0 66152 0 PENN VIRGINIA CORP COM 707882106 4786 63456 SH SOLE 63456 0 0 PENN VIRGINIA CORP COM 707882106 2713 35973 SH OTHER 01 0 35973 0 PERRIGO CO COM COM 714290103 3864 121620 SH SOLE 121620 0 0 PERRIGO CO COM COM 714290103 2113 66500 SH OTHER 01 0 66500 0 PETROHAWK ENERGY CORP COM COM 716495106 809 17468 SH SOLE 17468 0 0 PETROHAWK ENERGY CORP COM COM 716495106 552 11910 SH OTHER 01 0 11910 0 PHASE FORWARD INC COM COM 71721R406 2721 151424 SH SOLE 151424 0 0 PHASE FORWARD INC COM COM 71721R406 1520 84575 SH OTHER 01 0 84575 0 PHILADELPHIA CONS HLDG CORP CO COM 717528103 3309 97422 SH OTHER 01 0 97422 0 PINNACLE FINL PARTNERS INC COM COM 72346Q104 1422 70800 SH OTHER 01 0 70800 0 POWER INTEGRATIONS INC COM COM 739276103 1975 62470 SH SOLE 62470 0 0 POWER INTEGRATIONS INC COM COM 739276103 1074 33965 SH OTHER 01 0 33965 0 PRINCETON NATL BANCORP INC COM COM 742282106 1180 43310 SH OTHER 01 0 43310 0 PRIVATEBANCORP INC COM COM 742962103 1337 44000 SH SOLE 44000 0 0 PRIVATEBANCORP INC COM COM 742962103 2824 92960 SH OTHER 01 0 92960 0 PROSPERITY BANCSHARES INC COM COM 743606105 2289 85650 SH SOLE 85650 0 0 PROSPERITY BANCSHARES INC COM COM 743606105 4810 179941 SH OTHER 01 0 179941 0 PSYCHIATRIC SOLUTIONS INC COM COM 74439H108 4421 116830 SH SOLE 116830 0 0 PSYCHIATRIC SOLUTIONS INC COM COM 74439H108 2062 54481 SH OTHER 01 0 54481 0 RAYMOND JAMES FINL INC COM COM 754730109 354 13400 SH OTHER 01 0 13400 0 RTI BIOLOGICS INC COM COM 74975N105 1009 115267 SH SOLE 115267 0 0 RTI BIOLOGICS INC COM COM 74975N105 545 62276 SH OTHER 01 0 62276 0 RUBICON TECHNOLOGY INC COM 78112T107 1038 51090 SH SOLE 51090 0 0 RUBICON TECHNOLOGY INC COM 78112T107 571 28110 SH OTHER 01 0 28110 0 SANDERS MORRIS HARRIS GROUP CO COM 80000Q104 147 21755 SH OTHER 01 0 21755 0 SANDY SPRING BANCORP INC CMT-C COM 800363103 239 14400 SH OTHER 01 0 14400 0 SANGAMO BIOSCIENCES INC COM COM 800677106 1464 147090 SH SOLE 147090 0 0 SANGAMO BIOSCIENCES INC COM COM 800677106 875 87890 SH OTHER 01 0 87890 0 SBA COMMUNICATIONS CORP CL A COM 78388J106 7980 221610 SH SOLE 221610 0 0 SBA COMMUNICATIONS CORP CL A COM 78388J106 4395 122050 SH OTHER 01 0 122050 0 SEATTLE GENETICS INC COM COM 812578102 566 66922 SH SOLE 66922 0 0 SEATTLE GENETICS INC COM COM 812578102 305 36010 SH OTHER 01 0 36010 0 SEI INVTS CO COM COM 784117103 379 16100 SH OTHER 01 0 16100 0 SEQUENOM INC COM NEW COM 817337405 2078 130180 SH SOLE 130180 0 0 SEQUENOM INC COM NEW COM 817337405 1237 77490 SH OTHER 01 0 77490 0 SIGNATURE BK NEW YORK N Y COM COM 82669G104 1459 56645 SH OTHER 01 0 56645 0 SKYWORKS SOLUTIONS INC COM COM 83088M102 591 59920 SH SOLE 59920 0 0 SKYWORKS SOLUTIONS INC COM COM 83088M102 320 32440 SH OTHER 01 0 32440 0 SMITH & WESSON HLDG CORP COM COM 831756101 1986 381148 SH SOLE 381148 0 0 SMITH & WESSON HLDG CORP COM COM 831756101 1086 208530 SH OTHER 01 0 208530 0 SMITHTOWN BANCORP INC COM COM 832449102 2556 157286 SH OTHER 01 0 157286 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 6 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- SPSS INC COM COM 78462K102 2410 66258 SH SOLE 66258 0 0 SPSS INC COM COM 78462K102 1322 36360 SH OTHER 01 0 36360 0 STARLIMS TECHNOLOGIES LTD SHS COM M8484K109 120 18346 SH OTHER 01 0 18346 0 STELLARONE CORP COM COM 85856G100 439 30063 SH OTHER 01 0 30063 0 STERLING BANCSHARES INC COM COM 858907108 413 45400 SH OTHER 01 0 45400 0 STIFEL FINL CORP COM COM 860630102 1793 52134 SH OTHER 01 0 52134 0 SUCCESSFACTORS INC COM 864596101 1405 128266 SH SOLE 128266 0 0 SUCCESSFACTORS INC COM 864596101 763 69714 SH OTHER 01 0 69714 0 SUPERIOR BANCORP COM COM 86806M205 287 33760 SH OTHER 01 0 33760 0 SVB FINL GROUP COM COM 78486Q101 4374 90925 SH SOLE 90925 0 0 SVB FINL GROUP COM COM 78486Q101 5967 124030 SH OTHER 01 0 124030 0 SYNTHESIS ENERGY SYS INC COM COM 871628103 689 76504 SH SOLE 76504 0 0 SYNTHESIS ENERGY SYS INC COM COM 871628103 343 38112 SH OTHER 01 0 38112 0 TAMALPAIS BANCORP COM 87485H103 996 88516 SH OTHER 01 0 88516 0 TEXAS CAPITAL BANCSHARES INC COM 88224Q107 2412 150724 SH SOLE 150724 0 0 TEXAS CAPITAL BANCSHARES INC COM 88224Q107 5259 328689 SH OTHER 01 0 328689 0 THESTREET COM INC COM COM 88368Q103 1186 182184 SH SOLE 182184 0 0 THESTREET COM INC COM COM 88368Q103 1706 262050 SH OTHER 01 0 262050 0 THORATEC LABS CORP COM NEW COM 885175307 2733 157170 SH SOLE 157170 0 0 THORATEC LABS CORP COM NEW COM 885175307 1527 87820 SH OTHER 01 0 87820 0 TITAN MACHY INC COM COM 88830R101 547 17452 SH SOLE 17452 0 0 TITAN MACHY INC COM COM 88830R101 329 10502 SH OTHER 01 0 10502 0 TRUE RELIGION APPAREL INC COM COM 89784N104 1325 49710 SH SOLE 49710 0 0 TRUE RELIGION APPAREL INC COM COM 89784N104 713 26750 SH OTHER 01 0 26750 0 T-3 ENERGY SRVCS INC COM COM 87306E107 675 8500 SH SOLE 8500 0 0 T-3 ENERGY SRVCS INC COM COM 87306E107 413 5200 SH OTHER 01 0 5200 0 ULTA SALON COSMETICS & FRAGR COM 90384S303 1331 118424 SH SOLE 118424 0 0 ULTA SALON COSMETICS & FRAGR COM 90384S303 717 63792 SH OTHER 01 0 63792 0 ULTIMATE SOFTWARE GROUP INC CO COM 90385D107 4716 132370 SH SOLE 132370 0 0 ULTIMATE SOFTWARE GROUP INC CO COM 90385D107 2478 69550 SH OTHER 01 0 69550 0 UNITED AMERICA INDEMNITY LTD C COM 90933T109 652 48785 SH OTHER 01 0 48785 0 UNITED CMNTY BKS INC CDT-CAP S COM 90984P105 530 62152 SH OTHER 01 0 62152 0 UNITED ONLINE INC COM COM 911268100 1553 154810 SH SOLE 154810 0 0 UNITED ONLINE INC COM COM 911268100 900 89740 SH OTHER 01 0 89740 0 URSTADT BIDDLE PPTYS INC CL A COM 917286205 1173 80000 SH OTHER 01 0 80000 0 VALLEY NATL BANCORP COM COM 919794107 516 32740 SH OTHER 01 0 32740 0 VARIAN SEMICONDUCTOR EQUIPTMCO COM 922207105 1674 48082 SH SOLE 48082 0 0 VARIAN SEMICONDUCTOR EQUIPTMCO COM 922207105 920 26410 SH OTHER 01 0 26410 0 VIASAT INC COM COM 92552V100 2268 112240 SH SOLE 112240 0 0 VIASAT INC COM COM 92552V100 1322 65436 SH OTHER 01 0 65436 0 VIRGINIA COMM BANCORP INC COM COM 92778Q109 393 75807 SH OTHER 01 0 75807 0 VISTAPRINT LIMITED SHS COM G93762204 890 33250 SH SOLE 33250 0 0 VISTAPRINT LIMITED SHS COM G93762204 479 17900 SH OTHER 01 0 17900 0 VOLCANO CORPORATION COM COM 928645100 1037 84960 SH SOLE 84960 0 0 VOLCANO CORPORATION COM COM 928645100 570 46743 SH OTHER 01 0 46743 0 WABTEC CORPORATION COM 929740108 6149 126480 SH SOLE 126480 0 0 WABTEC CORPORATION COM 929740108 3362 69150 SH OTHER 01 0 69150 0 WADDELL & REED FINL INC CL A COM 930059100 1124 32100 SH OTHER 01 0 32100 0 WASHINGTON TR BANCORP INC COM COM 940610108 829 42100 SH OTHER 01 0 42100 0 WEBSTER FINL CORP WATERBURY CO COM 947890109 214 11500 SH OTHER 01 0 11500 0 WESTFIELD FINL INC COM COM 96008P104 1030 113800 SH OTHER 01 0 113800 0
EMERALD MUTUAL FUND ADVISERS, TRUST PAGE 7 FORM 13F INFORMATION TABLE AS OF DATE: 06/30/08
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 - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- WET SEAL INC CL A COM 961840105 3041 637615 SH SOLE 637615 0 0 WET SEAL INC CL A COM 961840105 1729 362560 SH OTHER 01 0 362560 0 WILLBROS GROUP INC COM COM 969199108 2299 52477 SH SOLE 52477 0 0 WILLBROS GROUP INC COM COM 969199108 1238 28253 SH OTHER 01 0 28253 0 WILSHIRE BANCORP INC COM 97186T108 533 62230 SH SOLE 62230 0 0 WILSHIRE BANCORP INC COM 97186T108 1503 175416 SH OTHER 01 0 175416 0 WISDOMTREE INVTS INC COM COM 97717P104 83 36100 SH OTHER 01 0 36100 0 WOODWARD GOVERNOR CO COM COM 980745103 1068 29950 SH SOLE 29950 0 0 WOODWARD GOVERNOR CO COM COM 980745103 578 16200 SH OTHER 01 0 16200 0 WSFS FINL CORP COM COM 929328102 459 10300 SH OTHER 01 0 10300 0 YADKIN VALLEY FINANCIAL CORPOR COM 984314104 396 33100 SH OTHER 01 0 33100 0 LINE COUNT: 317
-----END PRIVACY-ENHANCED MESSAGE-----