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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor Class" sharesOutstandingClassId="C000111290" sharesOutstandingTickerSymbol="FFGRX"/>
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          <sharesOutstanding sharesOutstandingClassName="Institutional Class" sharesOutstandingClassId="C000111289" sharesOutstandingTickerSymbol="FGROX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000111288" sharesOutstandingTickerSymbol="HSPCX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Emerald Mutual Fund Advisers Trust</investmentAdviserName>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>ALPS Fund Services, Inc.</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-CO" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE DATA PRICING &amp; REFERENCE DATA, LLC</pricingServiceName>
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          <pricingService>
            <pricingServiceName>REFINITIV US LLC</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Bloomberg Global Markets Services LLC</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>MUFG Union Bank</custodianName>
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          <shareholderServicingAgent>
            <shareholderServiceAgentName>ALPS Fund Services, Inc.</shareholderServiceAgentName>
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            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
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          <admin>
            <adminName>ALPS Fund Services, Inc.</adminName>
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        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>CRAIG-HALLUM CAPITAL GROUP LLC</brokerName>
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          <broker>
            <brokerName>JPMorgan Chase</brokerName>
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          <broker>
            <brokerName>Royal Bank Of Canada</brokerName>
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          <broker>
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          <broker>
            <brokerName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</brokerName>
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          <broker>
            <brokerName>Bloomberg Tradebook</brokerName>
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          <broker>
            <brokerName>Piper Sandler</brokerName>
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          <broker>
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            <grossCommission>21560</grossCommission>
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        <aggregateCommission>826639</aggregateCommission>
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          <principalTransaction>
            <principalName>Piper Sandler</principalName>
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          <principalTransaction>
            <principalName>JPMorgan Chase</principalName>
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      <managementInvestmentQuestion>
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            <transferAgentName>ALPS Fund Services, Inc.</transferAgentName>
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            <pricingServiceName>Bloomberg Global Markets Services LLC</pricingServiceName>
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            <adminName>ALPS Fund Services, Inc.</adminName>
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        <brokers>
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            <brokerName>UBS SECURITIES LLC</brokerName>
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          <broker>
            <brokerName>Ho Chi Minh Securities</brokerName>
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            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerCountry>UA</brokerCountry>
            <grossCommission>1385</grossCommission>
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          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
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            <grossCommission>1185</grossCommission>
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          <broker>
            <brokerName>DEUTSCHE BANK SECURITIES INC.</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1589</grossCommission>
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        <aggregateCommission>53788</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>94041060.62</mnthlyAvgNetAssets>
        <isInterfundLending>N</isInterfundLending>
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      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Vulcan Value Partners Small Cap Fund</mgmtInvFundName>
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        <mgmtInvLei>549300I5666K4TQ8WH14</mgmtInvLei>
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        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Institutional Class" sharesOutstandingClassId="C000211492" sharesOutstandingTickerSymbol="VVISX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor Class" sharesOutstandingClassId="C000082314" sharesOutstandingTickerSymbol="VVPSX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Vulcan Value Partners, LLC</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>ALPS Fund Services, Inc.</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-CO" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE DATA PRICING &amp; REFERENCE DATA, LLC</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Bloomberg Global Markets Services LLC</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>REFINITIV US LLC</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>BNY MELLON CAPITAL MARKETS, LLC</custodianName>
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            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>ALPS Fund Services, Inc.</shareholderServiceAgentName>
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            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-CO" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>ALPS Fund Services, Inc.</adminName>
            <adminLei>84-05730</adminLei>
            <adminStateCountry adminState="US-CO" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
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          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Jones Trading</brokerName>
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            <grossCommission>132968</grossCommission>
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          <broker>
            <brokerName>ALLIANCEBERNSTEIN INVESTMENTS, INC.</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>21854</grossCommission>
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          <broker>
            <brokerName>BTIG, LLC</brokerName>
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            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>98998</grossCommission>
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          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
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            <grossCommission>84561</grossCommission>
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          <broker>
            <brokerName>Jefferies</brokerName>
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            <brokerCrdNo>000002347</brokerCrdNo>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7561</grossCommission>
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          <broker>
            <brokerName>Redburn (USA) LLC</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>24705</grossCommission>
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          <broker>
            <brokerName>WELLS FARGO PRIME SERVICES, LLC</brokerName>
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            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>9304</grossCommission>
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          <broker>
            <brokerName>MKM PARTNERS LLC</brokerName>
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            <brokerCrdNo>000114666</brokerCrdNo>
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            <brokerStateCountry brokerState="US-CT" brokerCountry="US"/>
            <grossCommission>8584</grossCommission>
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          <broker>
            <brokerName>MORGAN STANLEY</brokerName>
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            <brokerStateCountry brokerState="US-OH" brokerCountry="US"/>
            <grossCommission>41627</grossCommission>
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        <aggregateCommission>451795</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>210468052.54</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Emerald Banking and Finance Fund</mgmtInvFundName>
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        <mgmtInvLei>5493002N765XOK5MEJ73</mgmtInvLei>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor Class" sharesOutstandingClassId="C000111286" sharesOutstandingTickerSymbol="FFBFX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Emerald Mutual Fund Advisers Trust</investmentAdviserName>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>ALPS Fund Services, Inc.</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-CO" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg Global Markets Services LLC</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
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          <pricingService>
            <pricingServiceName>ICE DATA PRICING &amp; REFERENCE DATA, LLC</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>REFINITIV US LLC</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>ALPS Fund Services, Inc.</shareholderServiceAgentName>
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            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
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        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>ALPS Fund Services, Inc.</adminName>
            <adminLei>84-05730</adminLei>
            <adminStateCountry adminState="US-CO" adminCountry="US"/>
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            <isAdminSubAdmin>N</isAdminSubAdmin>
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        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Keefe Bruyette Woods</brokerName>
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            <brokerCrdNo>000000481</brokerCrdNo>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7744</grossCommission>
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          <broker>
            <brokerName>JPMORGAN DISTRIBUTION SERVICES, INC.</brokerName>
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            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-OH" brokerCountry="US"/>
            <grossCommission>31</grossCommission>
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          <broker>
            <brokerName>BLOOMBERG TRADEBOOK LLC</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>326</grossCommission>
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          <broker>
            <brokerName>Raymond James</brokerName>
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          <broker>
            <brokerName>Piper Sandler</brokerName>
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            <brokerLei>549300GRQCWQ3XGH0H10</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>10927</grossCommission>
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          <broker>
            <brokerName>JANNEY MONTGOMERY SCOTT LLC</brokerName>
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            <brokerLei>549300QQRY1JCFQHYS08</brokerLei>
            <brokerStateCountry brokerState="US-PA" brokerCountry="US"/>
            <grossCommission>6045</grossCommission>
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          <broker>
            <brokerName>Stephens</brokerName>
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            <brokerLei>213800LH6T9XDYZCA534</brokerLei>
            <brokerStateCountry brokerState="US-AR" brokerCountry="US"/>
            <grossCommission>14625</grossCommission>
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          <broker>
            <brokerName>Jeffries LLC</brokerName>
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            <brokerCrdNo>000002347</brokerCrdNo>
            <brokerLei>58PU97L1C0WSRCWADL48</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>777</grossCommission>
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          <broker>
            <brokerName>RBC CAPITAL MARKETS, LLC</brokerName>
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            <brokerCrdNo>000031194</brokerCrdNo>
            <brokerLei>549300LCO2FLSSVFFR64</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>530</grossCommission>
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          <broker>
            <brokerName>D.A. DAVIDSON &amp; CO.</brokerName>
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            <brokerStateCountry brokerState="US-MT" brokerCountry="US"/>
            <grossCommission>69</grossCommission>
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        <aggregateCommission>49639</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>KEEFE, BRUYETTE &amp; WOODS, INC.</principalName>
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            <principalStateCountry principalState="US-NY" principalCountry="US"/>
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          <principalTransaction>
            <principalName>Piper Sandler</principalName>
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            <principalStateCountry principalState="US-MN" principalCountry="US"/>
            <principalTotalPurchaseSale>65000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>STEPHENS</principalName>
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            <principalTotalPurchaseSale>295000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>MORGAN STANLEY</principalName>
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            <principalStateCountry principalState="US-MD" principalCountry="US"/>
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        <principalAggregatePurchase>1420296</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>50134475</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Vulcan Value Partners Fund</mgmtInvFundName>
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        <mgmtInvLei>549300JDPSKF89Z1MM80</mgmtInvLei>
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          <sharesOutstanding sharesOutstandingClassName="Institutional Class" sharesOutstandingClassId="C000211491" sharesOutstandingTickerSymbol="VVILX"/>
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        <fundType>N/A</fundType>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Vulcan Value Partners, LLC</investmentAdviserName>
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