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Institutional Investment Manager
EMERALD ADVISERS, LLC
EMERALD ADVISERS, LLC (CIK: 0001015083) incorporated in Pennsylvania, located at 3175 Oregon Pike, Leola, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q4)
Portfolio Summary: 337 holdings with a total value of $1,884,962,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 ALLIANCE DATA SYSTEMS CORP 11,801 3,376,000 0.18%
152 FORTINET INC 110,040 3,374,000 0.18%
153 Penns Woods Bancorp Inc 67,972 3,348,000 0.18%
154 PEP BOYS MANNY MOE & JACK 340,700 3,346,000 0.18%
155 FOX CHASE BANCORP INC NEW COM 197,954 3,300,000 0.18%
156 DIVERSIFIED RSTRNT HLDGS INC COM 624,234 3,221,000 0.17%
157 INC RESH HLDGS INC 124,795 3,206,000 0.17%
158 LIONS GATE ENTERTN 99,807 3,196,000 0.17%
159 AVIS BUDGET GROUP 47,771 3,169,000 0.17%
160 FOOT LOCKER INC 56,190 3,157,000 0.17%
161 HEALTHCARE SVCS GRP INC 101,657 3,144,000 0.17%
162 Royal Bancshares of Pennsylvania, Inc. 1,934,444 3,114,000 0.17%
163 ERIE INDEMNITY CO-CL A 34,214 3,106,000 0.16%
164 SPROUTS FMRS MKT INC 90,311 3,069,000 0.16%
165 VONAGE HLDGS CORP 798,974 3,044,000 0.16%
166 FNB CORP PA 228,405 3,042,000 0.16%
167 VWR CORP 116,790 3,021,000 0.16%
168 S&P GLOBAL INC 33,395 2,971,000 0.16%
169 Penn Virginia Corp 443,884 2,965,000 0.16%
170 GULFPORT ENERGY CORP 70,025 2,923,000 0.16%
171 SIGNATURE BANK 23,141 2,915,000 0.15%
172 Magnum Hunter Resources Corp 918,149 2,883,000 0.15%
173 Marinus Pharmaceuticals Inc 272,013 2,875,000 0.15%
174 GNC HLDGS INC 60,511 2,842,000 0.15%
175 ROADRUNNER TRANSHOLDINGS INC 121,656 2,841,000 0.15%
176 BON-TON STORES INC 376,422 2,789,000 0.15%
177 NEXSTAR MEDIA GROUP INC 53,249 2,758,000 0.15%
178 APPLE INC 24,949 2,754,000 0.15%
179 QUANTA SVCS INC 96,556 2,741,000 0.15%
180 SALIX PHARMACEUTICALS INC 23,846 2,741,000 0.15%
181 PIXELWORKS INC 599,728 2,735,000 0.15%
182 SERVICENOW INC 40,084 2,720,000 0.14%
183 UNIVEST FINANCIAL CORPORATIO 132,999 2,692,000 0.14%
184 MICRON TECHNOLOGY INC 76,673 2,684,000 0.14%
185 IMAX CORP 86,043 2,659,000 0.14%
186 TRISTATE CAP HLDGS INC COM 257,283 2,635,000 0.14%
187 UNITED THERAPEUTICS CORP DEL 20,209 2,617,000 0.14%
188 Citizens Financial Services In 47,423 2,544,000 0.13%
189 Intuit Inc 11,071 2,543,000 0.13%
190 KATE SPADE & CO 79,365 2,540,000 0.13%
191 NORTHWEST BANCSHARES INC MD COM 201,944 2,530,000 0.13%
192 ADEPT TECHNOLOGY INC 288,269 2,502,000 0.13%
193 SKYWORKS SOLUTIONS INC 32,691 2,377,000 0.13%
194 ROSS STORES INC 24,985 2,355,000 0.12%
195 UNDER ARMOUR INC 34,155 2,319,000 0.12%
196 RITE AID CORP 302,204 2,273,000 0.12%
197 DECKERS OUTDOOR CORP 24,905 2,267,000 0.12%
198 CALGON CARBON CORP 109,030 2,266,000 0.12%
199 DONEGAL GROUP INC 141,073 2,254,000 0.12%
200 SBA COMMUNICATIONS CORP 20,304 2,249,000 0.12%
Page 4 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144204-15-004980, filed 2015.01.30).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.