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NOTICE TO SHAREHOLDERS AND BROKER-DEALERS:

The Emerald Mutual Funds will make any capital gains or income dividend payments for calendar year 2017 in December.

Important dates for any distributions are as follows:

Record Date: Friday, December 15, 2017

Ex-Date: Monday, December 18, 2017

Payable Date: Tuesday, December 19, 2017

Please check back to this website for updated information as it becomes available.

Emerald Growth Fund

Holdings* as of 10/31/2017 (subject to change)

Rank Security Weight
1.LendingTree Inc.3.15%
2.Trex Co. Inc.2.53%
3.Installed Building Products Inc.2.05%
4.Puma Biotechnology Inc.1.98%
5.Sarepta Therapeutics Inc.1.77%
6.Chegg Inc.1.75%
7.EPAM Systems Inc.1.73%
8.Vonage Holdings Corp.1.52%
9.KLX Inc.1.52%
10.QTS Realty Trust Inc. REIT1.50%
11.Kennametal Inc.1.49%
12.GTT Communications Inc.1.43%
13.IPG Photonics Corp.1.42%
14.Mercury Systems Inc.1.41%
15.Nutrisystem Inc.1.37%
16.Five Below Inc.1.33%
17.Proofpoint Inc.1.31%
18.BofI Holding Inc.1.30%
19.Varonis Systems Inc.1.29%
20.Apogee Enterprises Inc.1.28%
21.Pacific Premier Bancorp Inc.1.25%
22.FCB Financial Holdings Inc.1.23%
23.Catalent Inc.1.22%
24.US Concrete Inc.1.21%
25.Kratos Defense & Security Solutions Inc.1.18%
26.GMS Inc.1.14%
27.Supernus Pharmaceuticals Inc.1.13%
28.Bank of the Ozarks Inc.1.10%
29.Cogent Communications Holdings Inc.1.09%
30.Tutor Perini Corp.1.06%
31.Cavium Inc.1.04%
32.Carpenter Technology Corp.1.03%
33.Clovis Oncology Inc.1.02%
34.Insmed Inc.0.99%
35.Dycom Industries Inc.0.98%
36.8x8 Inc.0.95%
37.Alarm.com Holdings Inc.0.95%
38.Portola Pharmaceuticals Inc.0.95%
39.K2M Group Holdings Inc.0.95%
40.Ollie's Bargain Outlet Holdings Inc.0.94%
41.Meritage Homes Corp.0.93%
42.Tetra Tech Inc.0.92%
43.Ignyta Inc.0.90%
44.Lumentum Holdings Inc.0.87%
45.Microsemi Corp.0.83%
46.Teladoc Inc.0.83%
47.CareTrust REIT Inc.0.83%
48.Alder Biopharmaceuticals Inc.0.83%
49.Box Inc.0.82%
50.Guidewire Software Inc.0.82%
51.Steven Madden Ltd.0.81%
52.Moelis & Co.0.81%
53.Planet Fitness Inc.0.77%
54.National Commerce Corp.0.75%
55.PQ Group Holdings Inc.0.74%
56.Ciena Corp.0.72%
57.Opus Bank0.71%
58.G1 Therapeutics Inc.0.70%
59.Reata Pharmaceuticals Inc.0.69%
60.Burlington Stores Inc.0.68%
61.Adamas Pharmaceuticals Inc.0.68%
62.Primoris Services Corp.0.65%
63.Bluebird Bio Inc.0.64%
64.Imperva Inc.0.63%
65.Tennant Co.0.62%
66.Monolithic Power Systems Inc.0.62%
67.H&E Equipment Services Inc.0.61%
68.Daseke Inc.0.60%
69.Marcus Corp.0.60%
70.REV Group Inc.0.60%
71.Aimmune Therapeutics Inc.0.59%
72.AtriCure Inc.0.55%
73.Red Robin Gourmet Burgers Inc.0.55%
74.Callon Petroleum Co.0.53%
75.Freshpet Inc.0.53%
76.Jack in the Box Inc.0.53%
77.OSI Systems Inc.0.52%
78.Inphi Corp.0.51%
79.NeoGenomics Inc.0.50%
80.Hostess Brands Inc.0.48%
81.Cliffs Natural Resources Inc.0.48%
82.Internap Corp.0.47%
83.Masonite International Corp.0.47%
84.Manitowoc Co. Inc.0.46%
85.Atlas Air Worldwide Holdings Inc.0.46%
86.Air Transport Services Group Inc.0.45%
87.PDC Energy Inc.0.45%
88.Biohaven Pharmaceutical Holding Co. Ltd.0.45%
89.Monmouth Real Estate Investment Corp. REIT0.44%
90.Q2 Holdings Inc.0.43%
91.Model N Inc.0.40%
92.Live Oak Bancshares Inc.0.39%
93.Innospec Inc.0.39%
94.Tilly's Inc.0.38%
95.KapStone Paper and Packaging Corp.0.37%
96.Matthews International Corp.0.36%
97.Reis Inc.0.36%
98.HealthStream Inc.0.36%
99.Customers Bancorp Inc.0.35%
100.Chuy's Holdings Inc.0.34%
101.Exact Sciences Corp.0.33%
102.Tabula Rasa HealthCare Inc.0.33%
103.Penn National Gaming Inc.0.33%
104.Take-Two Interactive Software Inc.0.32%
105.Savara Inc0.32%
106.Merchants Bancorp/in0.31%
107.Merit Medical Systems Inc.0.31%
108.Churchill Downs Inc.0.31%
109.Deciphera Pharmaceuticals Inc.0.30%
110.Walker & Dunlop Inc.0.28%
111.Shenandoah Telecommunications Co.0.27%
112.Howard Bancorp Inc.0.27%
113.First Choice Bank0.26%
114.GrubHub Inc.0.26%
115.Dave & Buster's Entertainment Inc.0.25%
116.ChannelAdvisor Corp.0.25%
117.Allegheny Technologies Inc.0.25%
118.Oclaro Inc.0.25%
119.II-VI Inc.0.23%
120.Forescout Technologies Inc0.23%
121.Lindblad Expeditions Holdings Inc.0.22%
122.Cloudera Inc.0.22%
123.NV5 Global Inc.0.22%
124.Sage Therapeutics Inc.0.21%
125.Intercept Pharmaceuticals Inc.0.21%
126.Health Insurance Innovations Inc.0.20%
127.Leaf Group Ltd.0.18%
128.Cirrus Logic Inc.0.18%
129.Bovie Medical Corp.0.17%
130.Sequential Brands Group Inc.0.15%
131.Quantenna Communications Inc.0.14%
132.Switch Inc.0.13%
133.CareDx Inc.0.13%
134.TimkenSteel Corp.0.10%
135.USA Technologies Inc.0.10%
136.Yext Inc.0.10%
137.Blue Bird Corp.0.09%
138.CNB Financial Corp.0.06%
139.Obalon Therapeutics Inc.0.05%
140.NantHealth Inc.0.04%
141.Mongodb Inc0.04%
142.Enphase Energy Inc.0.04%
143.Cash Equivalent1.06%