HINGHAM INSTN SVGS MASS

Ticker: HIFS CUSIP: 433323102 Class: COM

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

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

Q4 2013

Shares 3,108 Value ($000) $244 Avg Close $63.61 Range $56.54 - $68.14

Q3 2013

Shares 3,300 Value ($000) $231 Avg Close $59.33 Range $56.32 - $65.69

Q2 2013

Shares 3,300 Value ($000) $224 Avg Close $55.69 Range $49.04 - $59.66

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	3,108	$244	$63.61	$56.54 - $68.14
Q3 2013	3,300	$231	$59.33	$56.32 - $65.69
Q2 2013	3,300	$224	$55.69	$49.04 - $59.66