BRIDGEWATER BANCSHARES INC

Ticker: BWB CUSIP: 108621103 Class: Common Stock

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

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

Q3 2019

Shares 246,272 Value ($000) $2,940 Avg Close $11.60 Range $10.86 - $12.56

Q2 2019

Shares 726,641 Value ($000) $8,385 Avg Close $10.89 Range $10.21 - $11.72

Q1 2019

Shares 727,668 Value ($000) $7,502 Avg Close $10.94 Range $9.69 - $11.59

Q4 2018

Shares 728,202 Value ($000) $7,683 Avg Close $11.55 Range $9.30 - $13.20

Q3 2018

Shares 722,896 Value ($000) $9,412 Avg Close $12.82 Range $12.29 - $13.50

Q2 2018

Shares 722,896 Value ($000) $9,195 Avg Close $13.00 Range $12.64 - $13.87

Q1 2018

Shares 579,591 Value ($000) $7,575 Avg Close $12.89 Range $12.60 - $13.66

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2019	246,272	$2,940	$11.60	$10.86 - $12.56
Q2 2019	726,641	$8,385	$10.89	$10.21 - $11.72
Q1 2019	727,668	$7,502	$10.94	$9.69 - $11.59
Q4 2018	728,202	$7,683	$11.55	$9.30 - $13.20
Q3 2018	722,896	$9,412	$12.82	$12.29 - $13.50
Q2 2018	722,896	$9,195	$13.00	$12.64 - $13.87
Q1 2018	579,591	$7,575	$12.89	$12.60 - $13.66