Emerald Mutual Fund Advisers Trust’s First NBC Bank Holding Company FNBC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-76,520	Closed	-$722K	–	320
2016 Q3	$722K	Sell	76,520 -73,030	-49%	-$1.06M	0.04%	211
2016 Q2	$2.51M	Hold	149,550	–	–	0.14%	157
2016 Q1	$3.08M	Sell	149,550 -394,244	-72%	-$10.5M	0.17%	143
2015 Q4	$20.3M	Buy	543,794 +104,962	+24%	+$3.99M	1.07%	22
2015 Q3	$15.4M	Buy	438,832 +38,268	+10%	+$1.38M	1.01%	25
2015 Q2	$14.4M	Sell	400,564 -42,430	-10%	-$1.48M	1.12%	23
2015 Q1	$16M	Hold	442,994	–	–	1.31%	16
2014 Q4	$15.6M	Hold	442,994	–	–	1.35%	18
2014 Q3	$14.5M	Buy	442,994 +20,150	+5%	+$654K	1.39%	13
2014 Q2	$14.2M	Buy	422,844 +14,850	+4%	+$486K	1.3%	14
2014 Q1	$14.2M	Sell	407,994 -308,974	-43%	-$10.2M	1.36%	13
2013 Q4	$23M	Buy	716,968 +647,378	+930%	+$18M	1.37%	14
2013 Q3	$1.7M	Buy	69,590 +19,590	+39%	+$490K	0.23%	112
2013 Q2	$1.22M	Buy	+50,000	New	+$1.25M	0.21%	118