PIERIS PHARMACEUTICALS INC

CUSIP: 720795103 Class: COMMON

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

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

Q3 2015
Shares 948,628 Value ($000) $1,736 Avg Close — Range —
Q2 2015
Shares 905,628 Value ($000) $2,490 Avg Close — Range —