EMERALD MUTUAL FUND ADVISERS TRUST

Mutual Fund

Position in CDNL — Cardinal Infrastructure Group Inc.

CIK 1352895 Leola, PA

Position in CDNL

as of Jun 30, 2026 · filed Aug 5, 2026 Compact

Position Value

$51,743,777

+$37,505,134 QoQ

Shares Held

549,297

+53.0% QoQ

Ownership

1.28%

of shares outstanding

% of Portfolio

1.88%

of 13F equity value

Holder Rank

#14

of 156 holders

Holding Since

Dec 2025

3 quarters on record

Voting authority Sole 100% Shared 0% None 0%

Industrials · as of Jun 30, 2026

EMERALD MUTUAL FUND ADVISERS TRUST holds $137,989,474 across 5 Engineering & Construction names. CDNL ranks #1 (37.5% of the industry book) .

#	Ticker	Company	Shares	Value (USD)
1	CDNL	Cardinal Infrastructure Group Inc. This page	549,297	$51,743,777
2	AGX	Argan Inc	58,115	$46,407,733
3	LGN	Legence Corp.	425,628	$36,276,274
4	BWMN	Bowman Consulting Group Ltd.	95,573	$2,790,731
5	MTZ	Mastec Inc	1,853	$770,959

3 filing rows on record

Report Date	Value (USD)	Shares	Change	Type	Discretion	Filed
2026-06-30	$51,743,777	549,297	+53.0%	Shares	Sole	2026-08-05
2026-03-31	$14,238,643	359,063	+19.7%	Shares	Sole	2026-05-04
2025-12-31	$7,253,879	299,995	—	Shares	Sole	2026-02-09
No filing history on record for this holder in this stock.