BULLISH

Ticker: BLSH CUSIP: G16910120 Class: RD SHS A

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

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

Q4 2025

Shares 5,000 Value ($000) $189 Avg Close $48.70 Range $34.24 - $70.50

Q3 2025

Shares 5,000 Value ($000) $318 Avg Close $61.33 Range $47.88 - $118.00

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	5,000	$189	$48.70	$34.24 - $70.50
Q3 2025	5,000	$318	$61.33	$47.88 - $118.00