background image

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 Small Cap Value Fund

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

Rank Security Weight
1.ZAGG Inc.3.84%
2.ILG Inc.2.54%
3.Viad Corp.2.41%
4.Builders FirstSource Inc.2.22%
5.Cubic Corp.2.05%
6.Gray Television Inc.2.04%
7.Microsemi Corp.2.04%
8.Rudolph Technologies Inc.2.01%
9.CyrusOne Inc.1.98%
10.CoreSite Realty Corp.1.96%
11.Vonage Holdings Corp.1.92%
12.MDC Partners Inc.1.86%
13.Mitel Networks Corp.1.80%
14.PolyOne Corp.1.76%
15.ARRIS International PLC1.67%
16.Koppers Holdings Inc.1.66%
17.Perficient Inc.1.65%
18.ICF International Inc.1.62%
19.Xperi Corp.1.54%
20.Photronics Inc.1.48%
21.Tower Semiconductor Ltd.1.45%
22.Meta Financial Group Inc.1.37%
23.Community Healthcare Trust Inc. REIT1.35%
24.Invacare Corp.1.32%
25.Tutor Perini Corp.1.32%
26.US Concrete Inc.1.28%
27.Franklin Financial Network Inc.1.28%
28.Rexford Industrial Realty Inc. REIT1.26%
29.FS Bancorp Inc.1.21%
30.Penske Automotive Group Inc.1.19%
31.Summit Financial Group Inc.1.17%
32.Employers Holdings Inc.1.16%
33.Dycom Industries Inc.1.16%
34.CNB Financial Corp.1.15%
35.SRC Energy Inc.1.15%
36.Universal Forest Products Inc.1.10%
37.Bankwell Financial Group Inc.1.10%
38.People's Utah Bancorp1.07%
39.Preferred Bank1.06%
40.Entegra Financial Corp.1.06%
41.TriCo Bancshares1.06%
42.Western New England Bancorp Inc.1.05%
43.PDC Energy Inc.1.04%
44.Monmouth Real Estate Investment Corp. REIT1.03%
45.State Bank Financial Corp.1.03%
46.Apogee Enterprises Inc.1.03%
47.Live Oak Bancshares Inc.1.02%
48.STORE Capital Corp.1.02%
49.PennyMac Financial Services Inc.1.02%
50.Clifton Bancorp Inc.1.01%
51.Investar Holding Corp.1.00%
52.Plymouth Industrial REIT Inc.0.99%
53.Everi Holdings Inc.0.97%
54.InfraREIT Inc. REIT0.96%
55.Four Corners Property Trust Inc. REIT0.95%
56.OceanFirst Financial Corp.0.95%
57.Northeast Bancorp0.94%
58.Great Western Bancorp Inc.0.94%
59.First Financial Bancorp0.93%
60.Moelis & Co.0.92%
61.Presidio Inc.0.87%
62.Blue Bird Corp.0.85%
63.JBG SMITH Properties0.85%
64.QTS Realty Trust Inc. REIT0.83%
65.Mercer International Inc.0.76%
66.Standard AVB Financial Corp.0.75%
67.HomeStreet Inc.0.75%
68.ESSA Bancorp Inc.0.74%
69.CorEnergy Infrastructure Trust Inc. REIT0.72%
70.eHealth Inc.0.67%
71.Timberland Bancorp Inc.0.62%
72.Kosmos Energy Ltd.0.60%
73.Northrim BanCorp Inc.0.54%
74.First Savings Financial Group Inc.0.52%
75.PCSB Financial Corp.0.51%
76.Getty Realty Corp. REIT0.49%
77.First Merchants Corp.0.48%
78.Kirkland Lake Gold Ltd.0.43%
79.Pennsylvania Real Estate Investment Trust0.42%
80.Urban Edge Properties0.42%
81.Pattern Energy Group Inc.0.41%
82.Cash Equivalent2.65%