STEEL DYNAMICS INC

Ticker: STLD CUSIP: 858119100 Class: COMMON STOCK

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

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

Q2 2016

Shares 13,738 Value ($000) $337 Avg Close $20.03 Range $17.68 - $22.12

Q1 2016

Shares 13,331 Value ($000) $300 Avg Close $15.36 Range $12.48 - $18.79

Q4 2015

Shares 10,313 Value ($000) $184 Avg Close $14.45 Range $13.12 - $15.93

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	13,738	$337	$20.03	$17.68 - $22.12
Q1 2016	13,331	$300	$15.36	$12.48 - $18.79
Q4 2015	10,313	$184	$14.45	$13.12 - $15.93