ANNALY CAPITAL MANAGEMENT IN

Ticker: NLY CUSIP: 035710839 Class: COM NEW

EMERALD MUTUAL FUND ADVISERS TRUST's Holding History (CIK: 0001352895)

Note: Option positions (PUT/CALL) are excluded.

Q1 2023
Shares 34,257 Value ($000) $655 Avg Close — Range —
Q4 2022
Shares 3,419 Value ($000) $72 Avg Close — Range —