EMERALD MUTUAL FUND ADVISERS TRUST

Mutual Fund

Position in CDNL — Cardinal Infrastructure Group Inc.

CIK 1352895 Leola, PA

Position in CDNL

as of Mar 31, 2026 · filed May 4, 2026 Compact

Position Value

$14,238,643

+$6,984,764 QoQ

Shares Held

359,063

+19.7% QoQ

Ownership

0.838%

of shares outstanding

% of Portfolio

0.72%

of 13F equity value

Holder Rank

—

not a current holder

Holding Since

Dec 2025

2 quarters on record

Voting authority Sole 100% Shared 0% None 0%

Industrials · as of Mar 31, 2026

EMERALD MUTUAL FUND ADVISERS TRUST holds $69,000,229 across 5 Engineering & Construction names. CDNL ranks #3 (20.6% of the industry book) .

#	Ticker	Company	Shares	Value (USD)
1	AGX	Argan Inc	58,943	$32,103,304
2	STRL	Sterling Infrastructure, Inc.	48,875	$19,905,321
3	CDNL	Cardinal Infrastructure Group Inc. This page	359,063	$14,238,643
4	BWMN	Bowman Consulting Group Ltd.	77,533	$2,205,038
5	MTZ	Mastec Inc	1,703	$547,923

2 filing rows on record

Report Date	Value (USD)	Shares	Change	Type	Discretion	Filed
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.