EMERALD ADVISERS, LLC

LEOLA, PA · CIK 1015083 · 13F filing filed 2024-10-29

SEC-registered investment adviser since 1991 · limited liability company

Assets managed$3.3bn
Staff35 · 17 in investment roles
Main clients (by assets)State and local governments 62%, Pension plans 23%, Private funds 7%
Websiteteamemerald.com
Form ADV · 2026-03-31SEC adviser record

Legal entityEmerald Advisers, LLC (US)

Kindmutual funds, institutions
Others nearbyLeola, PA, Saint Louis, MO, King Of Prussia, PA
FamilyEMERALD ADVISERS, LLC · 4 related pages

As an employer

Offices in1 country

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Leola, PA (main office)United States	United States	about 15
King Of Prussia, PAUnited States	United States	2

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$2.6bn reported value +8.5% vs Q2 2024

248positions

21.2%in top 10

22 new 94 added 105 reduced 21 sold out vs Q2 2024

Holdings, Q3 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	FTAI AVIATION LTD SHS FTAI	FTAI	628,932	$83.6m3.23%	3.23%	Reduced -200.8k	-200,770 -24.2%
2	FRESHPET INC COM FRPT	FRPT	514,004	$70.3m2.72%	2.72%	Reduced -23.7k	-23,656 -4.4%
3	CARPENTER TECHNOLOGY CORP COM CRS	CRS	370,006	$59.0m2.28%	2.28%	Reduced -141.2k	-141,198 -27.6%
4	VARONIS SYS INC COM VRNS	VRNS	933,656	$52.8m2.04%	2.04%	Reduced -20.9k	-20,945 -2.2%
5	INSMED INC COM PAR $.01 INSM	INSM	689,807	$50.4m1.95%	1.95%	Added +49.5k	+49,540 7.7%
6	Q2 HLDGS INC COM QTWO	QTWO	620,877	$49.5m1.91%	1.91%	Added +15.6k	+15,581 2.6%
7	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	1,593,082	$49.1m1.90%	1.90%	Added +86.1k	+86,063 5.7%
8	RADNET INC COM RDNT	RDNT	669,250	$46.4m1.80%	1.80%	Added +21.3k	+21,318 3.3%
9	THE BALDWIN INSURANCE GRP IN COM CL A BWIN	BWIN	884,299	$44.0m1.70%	1.70%	Added +15.6k	+15,554 1.8%
10	AEROVIRONMENT INC COM AVAV	AVAV	217,666	$43.6m1.69%	1.69%	Added +20.2k	+20,207 10.2%
11	ATI INC COM ATI	ATI	637,468	$42.7m1.65%	1.65%	Reduced -2.9k	-2,920 -0.5%
12	PALOMAR HLDGS INC COM PLMR	PLMR	449,973	$42.6m1.65%	1.65%	Added +8.6k	+8,601 1.9%
13	KRATOS DEFENSE & SEC SOLUTIO COM NEW KTOS	KTOS	1,741,251	$40.6m1.57%	1.57%	Reduced -23.0k	-23,039 -1.3%
14	IMPINJ INC COM PI	PI	182,481	$39.5m1.53%	1.53%	Added +13.9k	+13,884 8.2%
15	LIVANOVA PLC SHS LIVN	LIVN	695,505	$36.5m1.41%	1.41%	Added +14.3k	+14,302 2.1%
16	SKYWARD SPECIALTY INS GROUP COM SKWD	SKWD	874,581	$35.6m1.38%	1.38%	Added +28.6k	+28,618 3.4%
17	SHIFT4 PMTS INC CL A FOUR	FOUR	398,807	$35.3m1.37%	1.37%	Added +5.6k	+5,627 1.4%
18	MODINE MFG CO COM MOD	MOD	264,349	$35.1m1.36%	1.36%	Added +4.2k	+4,199 1.6%
19	BLUEPRINT MEDICINES CORP COM BPMC	BPMC	375,866	$34.8m1.34%	1.34%	Added +34.7k	+34,666 10.2%
20	LOUISIANA PAC CORP COM LPX	LPX	317,241	$34.1m1.32%	1.32%	Added +27.5k	+27,544 9.5%
21	TENABLE HLDGS INC COM TENB	TENB	828,201	$33.6m1.30%	1.30%	Added +5.3k	+5,346 0.7%
22	INTRA-CELLULAR THERAPIES INC COM ITCI	ITCI	441,296	$32.3m1.25%	1.25%	Added +48.7k	+48,705 12.4%
23	AAR CORP COM AIR	AIR	491,406	$32.1m1.24%	1.24%	Added +6.4k	+6,399 1.3%
24	COLLEGIUM PHARMACEUTICAL INC COM COLL	COLL	827,302	$32.0m1.24%	1.24%	Added +177.1k	+177,129 27.2%
25	AXOS FINANCIAL INC COM AX	AX	505,544	$31.8m1.23%	1.23%	Added +63.5k	+63,458 14.3%
26	ULTRAGENYX PHARMACEUTICAL IN COM RARE	RARE	569,798	$31.7m1.22%	1.22%	Added +83.1k	+83,116 17.1%
27	CHART INDS INC COM GTLS	GTLS	252,661	$31.4m1.21%	1.21%	Added +9.2k	+9,181 3.8%
28	MERIT MED SYS INC COM MMSI	MMSI	315,179	$31.1m1.20%	1.20%	Reduced -44.0k	-43,974 -12.2%
29	MOELIS & CO CL A MC	MC	440,330	$30.2m1.17%	1.17%	Added +5.8k	+5,844 1.4%
30	PDF SOLUTIONS INC COM PDFS	PDFS	895,248	$28.4m1.10%	1.10%	Added +19.7k	+19,673 2.2%
31	BRIDGEBIO PHARMA INC COM BBIO	BBIO	1,103,508	$28.1m1.09%	1.09%	Added +437.2k	+437,164 65.6%
32	FORMFACTOR INC COM FORM	FORM	604,724	$27.8m1.08%	1.08%	Added +56.3k	+56,316 10.3%
33	TRAVERE THERAPEUTICS INC COM TVTX	TVTX	1,960,659	$27.4m1.06%	1.06%	Added +323.5k	+323,513 19.8%
34	NV5 GLOBAL INC COM NVEE	NVEE	280,666	$26.2m1.01%	1.01%	Added +8.7k	+8,720 3.2%
35	AGILYSYS INC COM AGYS	AGYS	239,455	$26.1m1.01%	1.01%	Reduced -886	-886 -0.4%
36	INTERDIGITAL INC COM IDCC	IDCC	180,987	$25.6m0.99%	0.99%	Added +60.6k	+60,575 50.3%
37	OLLIES BARGAIN OUTLET HLDGS COM OLLI	OLLI	257,297	$25.0m0.97%	0.97%	Added +37.9k	+37,893 17.3%
38	NEOGENOMICS INC COM NEW NEO	NEO	1,682,214	$24.8m0.96%	0.96%	Reduced -162.4k	-162,401 -8.8%
39	VITAL FARMS INC COM VITL	VITL	706,440	$24.8m0.96%	0.96%	Added +364.8k	+364,837 106.8%
40	TRINET GROUP INC COM TNET	TNET	252,819	$24.5m0.95%	0.95%	Added +2.7k	+2,651 1.1%
41	LUMENTUM HLDGS INC COM LITE	LITE	378,535	$24.0m0.93%	0.93%	Added +85.4k	+85,353 29.1%
42	RXO INC COMMON STOCK RXO	RXO	852,441	$23.9m0.92%	0.92%	Added +409.1k	+409,055 92.3%
43	FULTON FINL CORP PA COM FULT	FULT	1,307,559	$23.7m0.92%	0.92%	Added +890.6k	+890,630 213.6%
44	RAMBUS INC DEL COM RMBS	RMBS	561,414	$23.7m0.92%	0.92%	Added +166.5k	+166,453 42.1%
45	TRANSMEDICS GROUP INC COM TMDX	TMDX	150,907	$23.7m0.92%	0.92%	Reduced -172.4k	-172,443 -53.3%
46	WAVE LIFE SCIENCES LTD SHS 96663EUR	96663EUR	2,881,510	$23.6m0.91%	0.91%	Added +388.3k	+388,280 15.6%
47	FIRST ADVANTAGE CORP NEW COM FA	FA	1,183,050	$23.5m0.91%	0.91%	Added +24.2k	+24,217 2.1%
48	LONGBOARD PHARMACEUTICALS IN COM COM		683,642	$22.8m0.88%	0.88%	Added +455.1k	+455,119 199.2%
49	FABRINET SHS FN	FN	93,167	$22.0m0.85%	0.85%	Added +43.4k	+43,359 87.0%
50	NORTHERN OIL & GAS INC COM NOG	NOG	611,509	$21.7m0.84%	0.84%	Added +44.5k	+44,510 7.8%
51	VIKING THERAPEUTICS INC COM VKTX	VKTX	339,047	$21.5m0.83%	0.83%	Added +12.0k	+12,001 3.7%
52	SPX TECHNOLOGIES INC COM SPXC	SPXC	132,051	$21.1m0.81%	0.81%	Added +38.2k	+38,161 40.6%
53	MACOM TECH SOLUTIONS HLDGS I COM MTSI	MTSI	186,478	$20.7m0.80%	0.80%	Reduced -83.9k	-83,942 -31.0%
54	LENDINGTREE INC NEW COM TREE	TREE	356,389	$20.7m0.80%	0.80%	Added +10.5k	+10,497 3.0%
55	NAPCO SEC TECHNOLOGIES INC COM NSSC	NSSC	508,257	$20.6m0.80%	0.80%	Added +19.7k	+19,674 4.0%
56	KULICKE & SOFFA INDS INC COM KLIC	KLIC	452,945	$20.4m0.79%	0.79%	Added +9.9k	+9,943 2.2%
57	TIDEWATER INC NEW COM TDW	TDW	265,037	$19.0m0.74%	0.74%	Reduced -5.0k	-4,986 -1.9%
58	BJS RESTAURANTS INC COM BJRI	BJRI	569,221	$18.5m0.72%	0.72%	Added +4.0k	+4,009 0.7%
59	COGENT COMMUNICATIONS HLDGS COM NEW CCOI	CCOI	241,249	$18.3m0.71%	0.71%	Added +6.6k	+6,647 2.8%
60	CHURCHILL DOWNS INC COM CHDN	CHDN	129,844	$17.6m0.68%	0.68%	Reduced -6.5k	-6,461 -4.7%
61	PORTILLOS INC COM CL A PTLO	PTLO	1,272,214	$17.1m0.66%	0.66%	Added +288.7k	+288,675 29.4%
62	ARHAUS INC COM CL A ARHS	ARHS	1,371,567	$16.9m0.65%	0.65%	Added +32.1k	+32,077 2.4%
63	POPULAR INC COM NEW BPOP	BPOP	164,982	$16.5m0.64%	0.64%	Added +38.4k	+38,409 30.4%
64	AVID BIOSERVICES INC COM PPHM	PPHM	1,448,916	$16.5m0.64%	0.64%	New
65	SYNAPTICS INC COM SYNA	SYNA	207,287	$16.1m0.62%	0.62%	Added +5.0k	+5,004 2.5%
66	SOLENO THERAPEUTICS INC COM SLNO	SLNO	313,334	$15.8m0.61%	0.61%	Added +20.0k	+20,006 6.8%
67	EXPRO GROUP HOLDINGS NV COM 96779EUR	96779EUR	907,451	$15.6m0.60%	0.60%	Added +321.9k	+321,873 55.0%
68	CELLDEX THERAPEUTICS INC NEW COM NEW CLDX	CLDX	456,202	$15.5m0.60%	0.60%	Added +257.8k	+257,773 129.9%
69	CACTUS INC CL A WHD	WHD	254,763	$15.2m0.59%	0.59%	Reduced -4.1k	-4,063 -1.6%
70	AKERO THERAPEUTICS INC COM AKRO	AKRO	524,427	$15.0m0.58%	0.58%	Added +9.2k	+9,175 1.8%
71	ONTO INNOVATION INC COM ONTO	ONTO	71,192	$14.8m0.57%	0.57%	Reduced -54.2k	-54,225 -43.2%
72	RYMAN HOSPITALITY PPTYS INC COM RHP	RHP	132,663	$14.2m0.55%	0.55%	Reduced -1.8k	-1,811 -1.4%
73	MONTROSE ENVIRONMENTAL GROUP COM ONT	ONT	525,552	$13.8m0.53%	0.53%	Reduced -210.5k	-210,547 -28.6%
74	TERRENO RLTY CORP COM TRNO	TRNO	205,861	$13.8m0.53%	0.53%	Reduced -2.5k	-2,477 -1.2%
75	TTM TECHNOLOGIES INC COM TTMI	TTMI	750,280	$13.7m0.53%	0.53%	New
76	EVERQUOTE INC COM CL A EVER	EVER	640,032	$13.5m0.52%	0.52%	Added +399.3k	+399,257 165.8%
77	INSTALLED BLDG PRODS INC COM IBP	IBP	54,656	$13.5m0.52%	0.52%	Added +1.4k	+1,419 2.7%
78	UMB FINL CORP COM UMBF	UMBF	122,415	$12.9m0.50%	0.50%	New
79	ACADIA PHARMACEUTICALS INC COM ACAD	ACAD	830,829	$12.8m0.49%	0.49%	Added +22.0k	+21,998 2.7%
80	SELECTIVE INS GROUP INC COM SIGI	SIGI	126,125	$11.8m0.45%	0.45%	New
81	ORTHOFIX MED INC COM OFIX	OFIX	732,660	$11.4m0.44%	0.44%	Reduced -1.3k	-1,339 -0.2%
82	ATRICURE INC COM ATRC	ATRC	389,836	$10.9m0.42%	0.42%	Added +38.4k	+38,421 10.9%
83	TRINITY CAP INC COM TRIN	TRIN	804,942	$10.9m0.42%	0.42%	Added +82.0k	+82,001 11.3%
84	COMMVAULT SYS INC COM CVLT	CVLT	69,525	$10.7m0.41%	0.41%	New
85	CLEARWATER ANALYTICS HLDGS I CL A CL A		401,982	$10.2m0.39%	0.39%	New
86	SKYWATER TECHNOLOGY INC COM COM		1,113,353	$10.1m0.39%	0.39%	Added +18.4k	+18,423 1.7%
87	CLEAR SECURE INC COM CL A YOU	YOU	292,257	$9.7m0.37%	0.37%	Reduced -17.1k	-17,094 -5.5%
88	KALVISTA PHARMACEUTICALS INC COM KALV	KALV	835,988	$9.7m0.37%	0.37%	Added +192.1k	+192,091 29.8%
89	ZUORA INC COM CL A ZUO	ZUO	1,105,573	$9.5m0.37%	0.37%	Reduced -109.2k	-109,185 -9.0%
90	QUANTERIX CORP COM QTRX	QTRX	719,217	$9.3m0.36%	0.36%	Added +38.2k	+38,230 5.6%
91	JACK IN THE BOX INC COM JACK	JACK	200,067	$9.3m0.36%	0.36%	Added +5.6k	+5,582 2.9%
92	ARLO TECHNOLOGIES INC COM ARLO	ARLO	768,315	$9.3m0.36%	0.36%	Reduced -115.7k	-115,732 -13.1%
93	KEROS THERAPEUTICS INC COM KROS	KROS	155,545	$9.0m0.35%	0.35%	New
94	NATIONAL VISION HLDGS INC COM EYE	EYE	805,086	$8.8m0.34%	0.34%	Reduced -51.3k	-51,282 -6.0%
95	LIFE360 INC COM LIF	LIF	221,679	$8.7m0.34%	0.34%	Added +12.5k	+12,458 6.0%
96	NVIDIA CORPORATION COM NVDA	NVDA	71,410	$8.7m0.34%	0.34%	Unchanged
97	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	292,569	$8.6m0.33%	0.33%	New
98	LIGHT & WONDER INC COM LNWO	LNWO	92,844	$8.4m0.33%	0.33%	Reduced -83.6k	-83,590 -47.4%
99	FIRST FINL BANKSHARES INC COM FFIN	FFIN	222,507	$8.2m0.32%	0.32%	New
100	SUN CTRY AIRLS HLDGS INC COM SNCY	SNCY	705,203	$7.9m0.31%	0.31%	Reduced -177.1k	-177,109 -20.1%

Sold out since Q2 2024

Security	Ticker	Shares held before	Value then
SAVERS VALUE VLG INC SVV	SVV	748,398	$9.2m748.4k shares
CHUYS HLDGS INC CHUY	CHUY	347,098	$9.0m347.1k shares
MEDIAALPHA INC MAX	MAX	598,517	$7.9m598.5k shares
ARCBEST CORP ARCB	ARCB	63,620	$6.8m63.6k shares
HAEMONETICS CORP MASS HAE	HAE	66,108	$5.5m66.1k shares
PERFICIENT INC PRFT	PRFT	54,108	$4.0m54.1k shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	5,299	$2.0m5.3k shares
ICON PLC ICLR	ICLR	1,746	$547.3k1.7k shares
HALLIBURTON CO HAL	HAL	10,236	$345.8k10.2k shares
NEW FORTRESS ENERGY INC		14,976	$329.2k15.0k shares
HARMONIC INC HLIT	HLIT	25,497	$300.1k25.5k shares
BANCORP INC DEL TBBK	TBBK	7,173	$270.9k7.2k shares
ANTERO RESOURCES CORP AR	AR	7,886	$257.3k7.9k shares
ALIGN TECHNOLOGY INC ALGN	ALGN	980	$236.6k980 shares
COHERENT CORP COHR	COHR	2,908	$210.7k2.9k shares
MODERNA INC MRNA	MRNA	1,736	$206.2k1.7k shares
LATHAM GROUP INC SWIM	SWIM	64,238	$194.6k64.2k shares
RESMED INC RMD	RMD	970	$185.7k970 shares
AMETEK INC AME	AME	748	$124.7k748 shares
FIVE BELOW INC FIVE	FIVE	1,113	$121.3k1.1k shares
SIMPLY GOOD FOODS CO SMPL	SMPL	612	$22.1k612 shares