Emerald Advisers, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Emerald Advisers, LLC reported 243 stock positions worth $2.2 billion. Its top holding was Ftai Aviation (FTAI) at 2.4% of the portfolio, followed by Palomar (PLMR, 2.3%) and Credo Technology Group Holdi (CRDO, 2.2%). Compared with Q4 2024, it opened 20 new positions, sold out of 31, added to 66 and reduced 133. The biggest buy was a new position in Guardant Health (GH) and the biggest sale an exit from Intra-Cellular Therapies (ITCI).
- Most Recent 13F
- Q2 2026
- Location
- LEOLA, PA
- CIK
- 0001015083
- Portfolio Value
- $2.2B (Q1 2025)
- SEC Filing
- 0001104659-25-043298 ↗ filed May 1, 2025
Holdings Value
Holdings 243 stocks · $2.2B
| FTAI Ftai Aviation Ltd. | 2.38% | 476,579 | $52.9M | Reduce -23.4% |
| PLMR Palomar Holdings Inc. | 2.32% | 376,696 | $51.6M | Reduce -13.4% |
| CRDO Credo Technology Group Holdi | 2.22% | 1,229,033 | $49.4M | Reduce -10.7% |
| INSM Insmed Inc. | 2.04% | 594,013 | $45.3M | Reduce -13.2% |
| KTOS Kratos Defense & Security | 1.98% | 1,477,871 | $43.9M | Reduce -8.8% |
| SKWD Skyward Specialty Insurance | 1.94% | 814,884 | $43.1M | Reduce -1.0% |
| FRPT Freshpet Inc. | 1.91% | 509,448 | $42.4M | Add +2.3% |
| SLNO Soleno Therapeutics Inc. | 1.82% | 564,481 | $40.3M | Reduce -2.8% |
| BBIO Bridgebio Pharma Inc. | 1.78% | 1,145,491 | $39.6M | Reduce -0.5% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 1.78% | 493,433 | $39.5M | Add +1.9% |
| TVTX Travere Therapeutics Inc. | 1.68% | 2,077,173 | $37.2M | Reduce -2.3% |
| VRNS Varonis Systems Inc. | 1.65% | 907,065 | $36.7M | Reduce -2.0% |
| CRS Carpenter Technology | 1.62% | 198,396 | $35.9M | Reduce -8.1% |
| BPMC Blueprint Medicines Corp. | 1.60% | 401,644 | $35.5M | Reduce -3.6% |
| GTLS Chart Industries Inc. | 1.60% | 246,037 | $35.5M | Reduce -1.4% |
| AX Axos Financial Inc. | 1.55% | 533,586 | $34.4M | Add +11.4% |
| BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN | 1.50% | 744,621 | $33.3M | Reduce -14.1% |
| OLLI Ollie's Bargain Outlet Holdi | 1.47% | 279,815 | $32.6M | Add +9.8% |
| RDNT Radnet Inc. | 1.44% | 645,222 | $32.1M | Reduce -1.8% |
| IDCC Interdigital Inc. | 1.41% | 151,097 | $31.2M | Reduce -6.6% |
| TMDX Transmedics Group Inc. | 1.38% | 454,794 | $30.6M | Add +22.4% |
| ATI Ati Inc. | 1.38% | 587,250 | $30.6M | Reduce -2.5% |
| VITL Vital Farms Inc. | 1.34% | 978,197 | $29.8M | Add +13.2% |
| MMSI Merit Medical Systems Inc. | 1.34% | 280,677 | $29.7M | Reduce -7.3% |
| TTMI TTM Technologies | 1.33% | 1,439,931 | $29.5M | Add +34.3% |
| LIVN Livanova PLC | 1.32% | 746,513 | $29.3M | Reduce -0.8% |
| TBBK The Bancorp Inc. | 1.30% | 548,269 | $29.0M | Add +63.1% |
| AIR Aar Corp. | 1.29% | 510,814 | $28.6M | Add +4.2% |
| FN Fabrinet | 1.24% | 139,491 | $27.6M | Add +13.4% |
| RMBS Rambus Inc. | 1.24% | 530,702 | $27.5M | Reduce -2.4% |
| AVAV Aerovironment Inc. | 1.21% | 224,818 | $26.8M | Add +5.0% |
| LITE Lumentum Holdings Inc. | 1.19% | 424,090 | $26.4M | Reduce -0.2% |
| WVE Wave Life Sciences Ltd. | 1.14% | 3,133,558 | $25.3M | Reduce -0.9% |
| MC Moelis & Co. Class A | 1.12% | 426,466 | $24.9M | Reduce -0.1% |
| COLL Collegium Pharmaceutical Inc. | 1.11% | 826,475 | $24.7M | Add +1.8% |
| GH Guardant Health Inc. | 1.02% | 531,424 | $22.6M | New |
| LPX Louisiana-Pacific Corp. | 0.98% | 237,179 | $21.8M | Reduce -0.9% |
| FOUR SHIFT4 Payments Inc. Class A | 0.98% | 265,422 | $21.7M | Reduce -15.4% |
| TENB Tenable Holdings Inc. | 0.96% | 612,040 | $21.4M | Reduce -0.6% |
| MOD Modine Manufacturing Co. | 0.90% | 261,293 | $20.1M | Reduce -0.2% |
| LTH Life Time Group Holdings Inc. | 0.90% | 659,519 | $19.9M | New |
| BJRI Bj's Restaurants Inc. | 0.89% | 578,327 | $19.8M | Reduce -0.9% |
| VSEC Vse Corp. | 0.89% | 163,935 | $19.7M | New |
| TREE Lendingtree Inc. | 0.86% | 378,563 | $19.0M | Add +4.8% |
| RARE Ultragenyx Pharmaceutical Inc. | 0.84% | 516,228 | $18.7M | Reduce -0.4% |
| PDFS PDF Solutions Inc. | 0.80% | 924,778 | $17.7M | Add +0.1% |
| SITM Sitime Corp. | 0.79% | 115,433 | $17.6M | Add +32.6% |
| MTSI Macom Technology Solutions H | 0.79% | 174,654 | $17.5M | Reduce -3.1% |
| EYE National Vision Holdings Inc. | 0.77% | 1,343,328 | $17.2M | Add +35.5% |
| AGYS Agilysys Inc. | 0.76% | 233,488 | $16.9M | Reduce -0.2% |
| SPXC SPX Technologies Inc. | 0.75% | 130,166 | $16.8M | Reduce -0.3% |
| ARLO Arlo Technologies Inc. | 0.75% | 1,679,789 | $16.6M | Add +0.8% |
| ATEC Alphatec Holdings Inc. | 0.74% | 1,623,449 | $16.5M | Add +11.5% |
| RXO Rxo Inc. | 0.74% | 854,986 | $16.3M | Add +0.3% |
| FORM Formfactor Inc. | 0.73% | 570,461 | $16.1M | Reduce -3.1% |
| FA First Advantage Corp. | 0.72% | 1,135,068 | $16.0M | Reduce -1.6% |
| MDGL Madrigal Pharmaceuticals Inc. | 0.71% | 47,909 | $15.9M | Add +75.7% |
| RHP Ryman Hospitality Properties | 0.71% | 172,878 | $15.8M | Reduce -1.7% |
| ALGT Allegiant Travel Co. | 0.69% | 298,286 | $15.4M | Add +26.1% |
| SEI Solaris Energy Infrastructur | 0.68% | 697,988 | $15.2M | Add +0.8% |
| PTLO Portillo's Inc. Class A | 0.67% | 1,245,854 | $14.8M | Add +0.3% |
| ARHS Arhaus Inc. | 0.65% | 1,667,128 | $14.5M | Add +2.4% |
| CCOI Cogent Communications Holdin | 0.64% | 232,272 | $14.2M | Reduce -3.8% |
| BOOT Boot Barn Holdings Inc. | 0.64% | 131,757 | $14.2M | Add +0.1% |
| PI Impinj Inc. | 0.62% | 152,149 | $13.8M | Add +20.4% |
| ACAD Acadia Pharmaceuticals Inc. | 0.61% | 815,905 | $13.6M | Reduce -1.1% |
| CHDN Churchill Downs Inc. | 0.61% | 121,099 | $13.5M | Reduce -5.5% |
| CWAN Clearwater Analytics HDS-A | 0.60% | 497,965 | $13.3M | Add +20.3% |
| OFIX Orthofix Medical Inc. | 0.60% | 811,138 | $13.2M | Reduce -1.4% |
| KLIC Kulicke & Soffa Industries | 0.59% | 395,968 | $13.1M | Reduce -1.6% |
| CVLT Commvault Systems Inc. | 0.58% | 81,499 | $12.9M | Add +15.7% |
| MIR Mirion Technologies Inc. | 0.57% | 880,089 | $12.8M | Add +44.8% |
| UMBF Umb Financial Corp. | 0.57% | 125,468 | $12.7M | Reduce -16.9% |
| TRIN Trinity Capital Inc. | 0.55% | 798,761 | $12.1M | Reduce -0.5% |
| AKRO Akero Therapeutics Inc. | 0.54% | 294,402 | $11.9M | Reduce -43.4% |
| EVER Everquote Inc. Class A | 0.52% | 443,701 | $11.6M | New |
| OSW Onespaworld Holdings Ltd. | 0.51% | 680,178 | $11.4M | Add +62.5% |
| WSBC Wesbanco Inc. | 0.51% | 368,816 | $11.4M | New |
| ETNB 89BIO Inc. | 0.51% | 1,550,671 | $11.3M | New |
| LIF LIFE360 Inc. | 0.47% | 270,817 | $10.4M | Add +53.8% |
| KALV Kalvista Pharmaceuticals Inc. | 0.47% | 898,190 | $10.4M | Add +7.4% |
| NVCR Novocure Ltd. | 0.43% | 538,249 | $9.6M | Reduce -1.7% |
| BOW Bowhead Specialty Holdings I | 0.43% | 235,853 | $9.6M | Reduce -1.9% |
| NSSC Napco Security Technologies | 0.42% | 408,485 | $9.4M | Reduce -23.7% |
| AAOI Applied Optoelectronics Inc. | 0.41% | 596,376 | $9.2M | Reduce -1.8% |
| WHD Cactus Inc. Class A | 0.40% | 193,061 | $8.8M | Reduce -37.2% |
| SYRE Spyre Therapeutics Inc. | 0.40% | 547,827 | $8.8M | Add +0.2% |
| INR Infinity Natural Resour Class A | 0.39% | 465,174 | $8.7M | New |
| SVRA Savara Inc. | 0.39% | 3,090,213 | $8.6M | Add +32.5% |
| BHVN Biohaven Ltd. | 0.38% | 354,953 | $8.5M | Reduce -1.6% |
| BUSE First Busey Corp. | 0.37% | 385,500 | $8.3M | Reduce -0.3% |
| NEO Neogenomics Inc. | 0.37% | 855,688 | $8.1M | Reduce -45.1% |
| RSI Rush Street Interactive Inc. | 0.37% | 757,477 | $8.1M | Add +4.3% |
| ABCB Ameris Bancorp | 0.35% | 136,058 | $7.8M | New |
| FULT Fulton Financial Corp. | 0.35% | 431,147 | $7.8M | Reduce -63.2% |
| PWP Perella Weinberg Partners | 0.33% | 403,280 | $7.4M | New |
| SOC Sable Offshore Corp. | 0.33% | 291,024 | $7.4M | Reduce -0.5% |
| CVRX CVRX Inc. | 0.33% | 590,850 | $7.2M | Reduce -0.5% |
| CORT Corcept Therapeutics Inc. | 0.32% | 62,182 | $7.1M | New |
| SKYT Skywater Technology Inc. | 0.32% | 1,000,716 | $7.1M | Add +1.3% |
Portfolio Sells Q4 2024 → Q1 2025
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −1.42 |
| CRDO Credo Technology Group Holdi | Reduce -10.7% | 2.22% | −1.36 |
| FTAI Ftai Aviation Ltd. | Reduce -23.4% | 2.38% | −1.09 |
| NOG Northern Oil and Gas Inc. | Reduce -99.9% | 0.00% | −0.65 |
| NEO Neogenomics Inc. | Reduce -45.1% | 0.37% | −0.63 |
| TDW Tidewater Inc. | Reduce -97.5% | 0.01% | −0.53 |
| FULT Fulton Financial Corp. | Reduce -63.2% | 0.35% | −0.52 |
| NVEE NV5 Global Inc. | Sold out | 0.00% | −0.51 |
| AAOI Applied Optoelectronics Inc. | Reduce -1.8% | 0.41% | −0.45 |
| AGYS Agilysys Inc. | Reduce -0.2% | 0.76% | −0.43 |
| WVE Wave Life Sciences Ltd. | Reduce -0.9% | 1.14% | −0.38 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.34 |
| RDNT Radnet Inc. | Reduce -1.8% | 1.44% | −0.33 |
| NSSC Napco Security Technologies | Reduce -23.7% | 0.42% | −0.31 |
| JACK Jack in the Box Inc. | Reduce -97.0% | 0.01% | −0.30 |
| WHD Cactus Inc. Class A | Reduce -37.2% | 0.40% | −0.30 |
| SIGI Selective Insurance Group | Sold out | 0.00% | −0.30 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -15.4% | 0.98% | −0.29 |
| FORM Formfactor Inc. | Reduce -3.1% | 0.73% | −0.28 |
| WGS Genedx Holdings Corp. | Sold out | 0.00% | −0.27 |
| MOD Modine Manufacturing Co. | Reduce -0.2% | 0.90% | −0.27 |
| UEC Uranium Energy Corp. | Reduce -51.2% | 0.17% | −0.26 |
| GTLS Chart Industries Inc. | Reduce -1.4% | 1.60% | −0.24 |
| IMVT Immunovant Inc. | Reduce -96.2% | 0.01% | −0.23 |
| XPRO Expro Group Holdings NV | Reduce -99.4% | 0.00% | −0.23 |
| NVCR Novocure Ltd. | Reduce -1.7% | 0.43% | −0.20 |
| LITE Lumentum Holdings Inc. | Reduce -0.2% | 1.19% | −0.19 |
| IBP Installed Building Products | Reduce -67.0% | 0.10% | −0.17 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −0.15 |
| TNET Trinet Group Inc. | Sold out | 0.00% | −0.14 |
| KLIC Kulicke & Soffa Industries | Reduce -1.6% | 0.59% | −0.14 |
| BHVN Biohaven Ltd. | Reduce -1.6% | 0.38% | −0.14 |
| MTSI Macom Technology Solutions H | Reduce -3.1% | 0.79% | −0.12 |
| FA First Advantage Corp. | Reduce -1.6% | 0.72% | −0.12 |
| QTRX Quanterix Corp. | Reduce -90.8% | 0.01% | −0.11 |
| ATRC Atricure Inc. | Sold out | 0.00% | −0.11 |
| MC Moelis & Co. Class A | Reduce -0.1% | 1.12% | −0.10 |
| NVDA Nvidia Corp. | Reduce -22.5% | 0.26% | −0.10 |
| UMBF Umb Financial Corp. | Reduce -16.9% | 0.57% | −0.09 |
| CCOI Cogent Communications Holdin | Reduce -3.8% | 0.64% | −0.08 |
| FFIN First Finl Bankshares Inc. | Reduce -32.9% | 0.23% | −0.07 |
| AAPL Apple Inc. | Reduce -26.9% | 0.20% | −0.07 |
| SPT Sprout Social Inc. Class A | Reduce -5.4% | 0.24% | −0.06 |
| MSFT Microsoft Corp. | Reduce -24.5% | 0.23% | −0.06 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.06 |
| CHDN Churchill Downs Inc. | Reduce -5.5% | 0.61% | −0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -19.5% | 0.13% | −0.04 |
| AMZN Amazon.com Inc. | Reduce -19.0% | 0.16% | −0.04 |
| INDI Indie Semiconductor Inc. Class A | Reduce -54.8% | 0.01% | −0.03 |
| LIVN Livanova PLC | Reduce -0.8% | 1.32% | −0.03 |
Portfolio Buys Q4 2024 → Q1 2025
| GH Guardant Health Inc. | New | 1.02% | +1.02 |
| LTH Life Time Group Holdings Inc. | New | 0.90% | +0.90 |
| VSEC Vse Corp. | New | 0.89% | +0.89 |
| TBBK The Bancorp Inc. | Add +63.1% | 1.30% | +0.62 |
| EVER Everquote Inc. Class A | New | 0.52% | +0.52 |
| WSBC Wesbanco Inc. | New | 0.51% | +0.51 |
| ETNB 89BIO Inc. | New | 0.51% | +0.51 |
| TMDX Transmedics Group Inc. | Add +22.4% | 1.38% | +0.48 |
| INR Infinity Natural Resour Class A | New | 0.39% | +0.39 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +75.7% | 0.71% | +0.39 |
| OLLI Ollie's Bargain Outlet Holdi | Add +9.8% | 1.47% | +0.38 |
| EYE National Vision Holdings Inc. | Add +35.5% | 0.77% | +0.37 |
| ABCB Ameris Bancorp | New | 0.35% | +0.35 |
| PWP Perella Weinberg Partners | New | 0.33% | +0.33 |
| CORT Corcept Therapeutics Inc. | New | 0.32% | +0.32 |
| TREE Lendingtree Inc. | Add +4.8% | 0.86% | +0.31 |
| TTMI TTM Technologies | Add +34.3% | 1.33% | +0.30 |
| FLOC Flowco Holdings Inc. Class A | New | 0.26% | +0.26 |
| AX Axos Financial Inc. | Add +11.4% | 1.55% | +0.25 |
| ATEC Alphatec Holdings Inc. | Add +11.5% | 0.74% | +0.22 |
| PTLO Portillo's Inc. Class A | Add +0.3% | 0.67% | +0.21 |
| COLL Collegium Pharmaceutical Inc. | Add +1.8% | 1.11% | +0.21 |
| FN Fabrinet | Add +13.4% | 1.24% | +0.19 |
| KALV Kalvista Pharmaceuticals Inc. | Add +7.4% | 0.47% | +0.19 |
| OSW Onespaworld Holdings Ltd. | Add +62.5% | 0.51% | +0.19 |
| LIF LIFE360 Inc. | Add +53.8% | 0.47% | +0.19 |
| MARA Mara Holdings Inc. | New | 0.17% | +0.17 |
| CVLT Commvault Systems Inc. | Add +15.7% | 0.58% | +0.17 |
| MIR Mirion Technologies Inc. | Add +44.8% | 0.57% | +0.16 |
| CWAN Clearwater Analytics HDS-A | Add +20.3% | 0.60% | +0.16 |
| AIR Aar Corp. | Add +4.2% | 1.29% | +0.12 |
| SVRA Savara Inc. | Add +32.5% | 0.39% | +0.11 |
| VITL Vital Farms Inc. | Add +13.2% | 1.34% | +0.08 |
| SWIM Latham Group Inc. | Add +718.0% | 0.09% | +0.08 |
| SITM Sitime Corp. | Add +32.6% | 0.79% | +0.07 |
| ARHS Arhaus Inc. | Add +2.4% | 0.65% | +0.06 |
| SMCI Super Micro Computer Inc. | Add +219.3% | 0.08% | +0.06 |
| NCLH Norwegian Cruise Line Holdin | Add +251.8% | 0.05% | +0.04 |
| DASH DoorDash Inc. Class A | Add +155.8% | 0.04% | +0.03 |
| ZS Zscaler Inc. | New | 0.03% | +0.03 |
| ARLO Arlo Technologies Inc. | Add +0.8% | 0.75% | +0.02 |
| PLNT Planet Fitness Inc. Class A | New | 0.02% | +0.02 |
| NOW ServiceNow Inc. | New | 0.02% | +0.02 |
| WTTR Select Water Solutions Inc. | New | 0.02% | +0.02 |
| NFLX Netflix Inc. | Add +43.6% | 0.04% | +0.02 |
| TTWO Take-Two Interactive Softwre | Add +21.7% | 0.05% | +0.02 |
| PAL Proficient Auto Logistics Inc. | New | 0.02% | +0.02 |
| MTZ Mastec Inc. | Add +52.5% | 0.05% | +0.02 |
| HOOD Robinhood Markets Inc. Class A | Add +180.8% | 0.02% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +18.4% | 0.04% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 237 | $4.2B | TVTX, CDNL, MRCY, AIR, VSEC |
| Q1 2026 | 248 | $3.2B | MOD, GH, BE, TTMI, COGT |
| Q4 2025 | 246 | $3.2B | GH, CRDO, KTOS, TTMI, TVTX |
| Q3 2025 | 256 | $3.1B | KTOS, CRDO, AVAV, RMBS, LITE |
| Q2 2025 | 248 | $2.7B | CRDO, AVAV, KTOS, TMDX, TTMI |
| Q1 2025 | 243 | $2.2B | FTAI, PLMR, CRDO, INSM, KTOS |
| Q4 2024 | 254 | $2.6B | CRDO, FTAI, FRPT, QTWO, GTLS |
| Q3 2024 | 248 | $2.6B | FTAI, FRPT, CRS, VRNS, INSM |
| Q2 2024 | 247 | $2.4B | FTAI, FRPT, CRS, TMDX, CRDO |
| Q1 2024 | 243 | $2.5B | SMCI, FRPT, FTAI, VRNS, CRS |