Emerald Advisers, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 4, 2025), Emerald Advisers, LLC reported 248 stock positions worth $2.7 billion. Its top holding was Credo Technology Group Holdi (CRDO) at 3.1% of the portfolio, followed by Aerovironment (AVAV, 2.6%) and Kratos Defense & Security (KTOS, 2.6%). Compared with Q1 2025, it opened 30 new positions, sold out of 25, added to 132 and reduced 65. The biggest buy was Aerovironment (AVAV, shares +12%) and the biggest sale Ftai Aviation (FTAI, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- LEOLA, PA
- CIK
- 0001015083
- Portfolio Value
- $2.7B (Q2 2025)
- SEC Filing
- 0001104659-25-073440 ↗ filed Aug 4, 2025
Holdings Value
Holdings 248 stocks · $2.7B
| CRDO Credo Technology Group Holdi | 3.09% | 911,514 | $84.4M | Reduce -25.8% |
| AVAV Aerovironment Inc. | 2.64% | 252,686 | $72.0M | Add +12.4% |
| KTOS Kratos Defense & Security | 2.57% | 1,510,418 | $70.2M | Add +2.2% |
| TMDX Transmedics Group Inc. | 2.16% | 439,329 | $58.9M | Reduce -3.4% |
| TTMI TTM Technologies | 2.10% | 1,403,317 | $57.3M | Reduce -2.5% |
| SLNO Soleno Therapeutics Inc. | 2.07% | 672,908 | $56.4M | Add +19.2% |
| PLMR Palomar Holdings Inc. | 1.82% | 321,147 | $49.5M | Reduce -14.8% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 1.76% | 512,016 | $47.9M | Add +3.8% |
| VRNS Varonis Systems Inc. | 1.75% | 942,703 | $47.8M | Add +3.9% |
| RMBS Rambus Inc. | 1.67% | 710,123 | $45.5M | Add +33.8% |
| BBIO Bridgebio Pharma Inc. | 1.62% | 1,021,257 | $44.1M | Reduce -10.8% |
| LITE Lumentum Holdings Inc. | 1.55% | 446,102 | $42.4M | Add +5.2% |
| AX Axos Financial Inc. | 1.54% | 553,591 | $42.1M | Add +3.8% |
| SKWD Skyward Specialty Insurance | 1.52% | 717,760 | $41.5M | Reduce -11.9% |
| OLLI Ollie's Bargain Outlet Holdi | 1.49% | 307,841 | $40.6M | Add +10.0% |
| FN Fabrinet | 1.47% | 136,218 | $40.1M | Reduce -2.4% |
| IDCC Interdigital Inc. | 1.43% | 174,499 | $39.1M | Add +15.5% |
| VITL Vital Farms Inc. | 1.43% | 1,015,225 | $39.1M | Add +3.8% |
| AGYS Agilysys Inc. | 1.42% | 337,102 | $38.6M | Add +44.4% |
| RDNT Radnet Inc. | 1.40% | 672,356 | $38.3M | Add +4.2% |
| EYE National Vision Holdings Inc. | 1.37% | 1,621,925 | $37.3M | Add +20.7% |
| GH Guardant Health Inc. | 1.33% | 699,922 | $36.4M | Add +31.7% |
| TBBK The Bancorp Inc. | 1.31% | 626,413 | $35.7M | Add +14.3% |
| FRPT Freshpet Inc. | 1.30% | 521,175 | $35.4M | Add +2.3% |
| BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN | 1.27% | 806,290 | $34.5M | Add +8.3% |
| SITM Sitime Corp. | 1.17% | 149,724 | $31.9M | Add +29.7% |
| MOD Modine Manufacturing Co. | 1.16% | 322,557 | $31.8M | Add +23.4% |
| TVTX Travere Therapeutics Inc. | 1.13% | 2,091,360 | $31.0M | Add +0.7% |
| VSEC Vse Corp. | 1.09% | 226,784 | $29.7M | Add +38.3% |
| ARLO Arlo Technologies Inc. | 1.09% | 1,749,984 | $29.7M | Add +4.2% |
| MC Moelis & Co. Class A | 1.05% | 458,006 | $28.5M | Add +7.4% |
| FOUR SHIFT4 Payments Inc. Class A | 1.03% | 283,004 | $28.0M | Add +6.6% |
| ATI Ati Inc. | 1.01% | 318,863 | $27.5M | Reduce -45.7% |
| CRS Carpenter Technology | 1.00% | 98,769 | $27.3M | Reduce -50.2% |
| MMSI Merit Medical Systems Inc. | 1.00% | 291,790 | $27.3M | Add +4.0% |
| BJRI Bj's Restaurants Inc. | 0.97% | 593,478 | $26.5M | Add +2.6% |
| MTSI Macom Technology Solutions H | 0.96% | 182,648 | $26.2M | Add +4.6% |
| COLL Collegium Pharmaceutical Inc. | 0.91% | 837,549 | $24.8M | Add +1.3% |
| BOOT Boot Barn Holdings Inc. | 0.91% | 162,609 | $24.7M | Add +23.4% |
| MRCY Mercury Systems Inc. | 0.90% | 456,713 | $24.6M | New |
| LIVN Livanova PLC | 0.89% | 538,999 | $24.3M | Reduce -27.8% |
| FA First Advantage Corp. | 0.87% | 1,431,731 | $23.8M | Add +26.1% |
| CWAN Clearwater Analytics HDS-A | 0.86% | 1,072,307 | $23.5M | Add +115.3% |
| AIR Aar Corp. | 0.85% | 337,005 | $23.2M | Reduce -34.0% |
| SPXC SPX Technologies Inc. | 0.83% | 135,104 | $22.7M | Add +3.8% |
| UMBF Umb Financial Corp. | 0.82% | 213,081 | $22.4M | Add +69.8% |
| LTH Life Time Group Holdings Inc. | 0.78% | 702,727 | $21.3M | Add +6.5% |
| WVE Wave Life Sciences Ltd. | 0.78% | 3,257,119 | $21.2M | Add +3.9% |
| TENB Tenable Holdings Inc. | 0.77% | 618,996 | $20.9M | Add +1.1% |
| MIR Mirion Technologies Inc. | 0.76% | 965,245 | $20.8M | Add +9.7% |
| PDFS PDF Solutions Inc. | 0.75% | 954,361 | $20.4M | Add +3.2% |
| ALGT Allegiant Travel Co. | 0.70% | 345,731 | $19.0M | Add +15.9% |
| OSW Onespaworld Holdings Ltd. | 0.69% | 925,263 | $18.9M | Add +36.0% |
| ATEC Alphatec Holdings Inc. | 0.69% | 1,684,334 | $18.7M | Add +3.8% |
| CVLT Commvault Systems Inc. | 0.68% | 106,424 | $18.6M | Add +30.6% |
| LIF LIFE360 Inc. | 0.67% | 281,229 | $18.4M | Add +3.8% |
| AMSC American Superconductor Corp. | 0.67% | 500,054 | $18.3M | Add +1191.5% |
| ETNB 89BIO Inc. | 0.66% | 1,844,370 | $18.1M | Add +18.9% |
| SEI Solaris Energy Infrastructur | 0.66% | 638,377 | $18.1M | Reduce -8.5% |
| GTLS Chart Industries Inc. | 0.66% | 108,998 | $17.9M | Reduce -55.7% |
| CORT Corcept Therapeutics Inc. | 0.65% | 242,053 | $17.8M | Add +289.3% |
| RSI Rush Street Interactive Inc. | 0.65% | 1,191,821 | $17.8M | Add +57.3% |
| RHP Ryman Hospitality Properties | 0.65% | 179,547 | $17.7M | Add +3.9% |
| PI Impinj Inc. | 0.64% | 157,919 | $17.5M | Add +3.8% |
| ESE Esco Technologies Inc. | 0.63% | 89,040 | $17.1M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 0.61% | 461,402 | $16.8M | Reduce -10.6% |
| FORM Formfactor Inc. | 0.60% | 473,983 | $16.3M | Reduce -16.9% |
| MDGL Madrigal Pharmaceuticals Inc. | 0.59% | 53,108 | $16.1M | Add +10.8% |
| AAOI Applied Optoelectronics Inc. | 0.58% | 620,281 | $15.9M | Add +4.0% |
| AKRO Akero Therapeutics Inc. | 0.57% | 291,692 | $15.6M | Reduce -0.9% |
| MIRM Mirum Pharmaceuticals Inc. | 0.57% | 305,766 | $15.6M | New |
| NSSC Napco Security Technologies | 0.57% | 519,760 | $15.4M | Add +27.2% |
| PTLO Portillo's Inc. Class A | 0.55% | 1,293,491 | $15.1M | Add +3.8% |
| ARHS Arhaus Inc. | 0.55% | 1,730,371 | $15.0M | Add +3.8% |
| EVER Everquote Inc. Class A | 0.55% | 619,585 | $15.0M | Add +39.6% |
| KLIC Kulicke & Soffa Industries | 0.52% | 412,622 | $14.3M | Add +4.2% |
| TREE Lendingtree Inc. | 0.52% | 381,978 | $14.2M | Add +0.9% |
| LPX Louisiana-Pacific Corp. | 0.52% | 163,629 | $14.1M | Reduce -31.0% |
| SOC Sable Offshore Corp. | 0.49% | 611,613 | $13.4M | Add +110.2% |
| SKYT Skywater Technology Inc. | 0.49% | 1,362,983 | $13.4M | Add +36.2% |
| ONTO Onto Innovation Inc. | 0.48% | 130,150 | $13.1M | New |
| IONQ Ionq Inc. | 0.47% | 301,357 | $12.9M | New |
| ACAD Acadia Pharmaceuticals Inc. | 0.47% | 592,358 | $12.8M | Reduce -27.4% |
| ITGR Integer Holdings Corp. | 0.47% | 103,824 | $12.8M | Add +1542.0% |
| STRL Sterling Infrastructure Inc. | 0.46% | 54,955 | $12.7M | New |
| WSBC Wesbanco Inc. | 0.44% | 383,527 | $12.1M | Add +4.0% |
| AXSM Axsome Therapeutics Inc. | 0.43% | 112,469 | $11.7M | New |
| EE Excelerate Energy Inc. Class A | 0.43% | 400,393 | $11.7M | New |
| KALV Kalvista Pharmaceuticals Inc. | 0.43% | 1,038,049 | $11.7M | Add +15.6% |
| CCOI Cogent Communications Holdin | 0.43% | 243,212 | $11.7M | Add +4.7% |
| TRIN Trinity Capital Inc. | 0.43% | 829,710 | $11.7M | Add +3.9% |
| FIVE Five Below | 0.43% | 88,558 | $11.6M | Add +4739.2% |
| RXO Rxo Inc. | 0.42% | 731,600 | $11.5M | Reduce -14.4% |
| PWP Perella Weinberg Partners | 0.40% | 568,206 | $11.0M | Add +40.9% |
| COGT Cogent Biosciences Inc. | 0.38% | 1,445,774 | $10.4M | New |
| BOW Bowhead Specialty Holdings I | 0.34% | 244,864 | $9.2M | Add +3.8% |
| MARA Mara Holdings Inc. | 0.33% | 579,571 | $9.1M | Add +77.4% |
| BE Bloom Energy Corp. Class A | 0.33% | 375,796 | $9.0M | Add +4.3% |
| ASIC Ategrity Specialty Holdings | 0.32% | 400,022 | $8.6M | New |
| SYRE Spyre Therapeutics Inc. | 0.31% | 565,863 | $8.5M | Add +3.3% |
Portfolio Sells Q1 2025 → Q2 2025
| FTAI Ftai Aviation Ltd. | Reduce -97.9% | 0.04% | −2.34 |
| INSM Insmed Inc. | Reduce -97.8% | 0.05% | −1.99 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.60 |
| GTLS Chart Industries Inc. | Reduce -55.7% | 0.66% | −0.94 |
| CRS Carpenter Technology | Reduce -50.2% | 1.00% | −0.62 |
| OFIX Orthofix Medical Inc. | Reduce -100.0% | 0.00% | −0.60 |
| CHDN Churchill Downs Inc. | Reduce -95.3% | 0.02% | −0.58 |
| PLMR Palomar Holdings Inc. | Reduce -14.8% | 1.82% | −0.51 |
| LPX Louisiana-Pacific Corp. | Reduce -31.0% | 0.52% | −0.47 |
| AIR Aar Corp. | Reduce -34.0% | 0.85% | −0.44 |
| LIVN Livanova PLC | Reduce -27.8% | 0.89% | −0.43 |
| SKWD Skyward Specialty Insurance | Reduce -11.9% | 1.52% | −0.42 |
| WHD Cactus Inc. Class A | Reduce -99.6% | 0.00% | −0.40 |
| BUSE First Busey Corp. | Reduce -99.3% | 0.00% | −0.37 |
| ATI Ati Inc. | Reduce -45.7% | 1.01% | −0.37 |
| NEO Neogenomics Inc. | Sold out | 0.00% | −0.37 |
| FULT Fulton Financial Corp. | Reduce -99.0% | 0.00% | −0.35 |
| CVRX CVRX Inc. | Sold out | 0.00% | −0.33 |
| RXO Rxo Inc. | Reduce -14.4% | 0.42% | −0.31 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -10.6% | 0.61% | −0.23 |
| STC Stewart Information Services | Sold out | 0.00% | −0.23 |
| BHVN Biohaven Ltd. | Reduce -9.6% | 0.17% | −0.22 |
| BBIO Bridgebio Pharma Inc. | Reduce -10.8% | 1.62% | −0.17 |
| UEC Uranium Energy Corp. | Reduce -94.9% | 0.01% | −0.16 |
| INR Infinity Natural Resour Class A | Reduce -21.2% | 0.25% | −0.15 |
| ACAD Acadia Pharmaceuticals Inc. | Reduce -27.4% | 0.47% | −0.14 |
| NVCR Novocure Ltd. | Reduce -14.3% | 0.30% | −0.13 |
| FORM Formfactor Inc. | Reduce -16.9% | 0.60% | −0.13 |
| FLOC Flowco Holdings Inc. Class A | Reduce -3.5% | 0.14% | −0.12 |
| IBP Installed Building Products | Sold out | 0.00% | −0.10 |
| ABCB Ameris Bancorp | Reduce -16.7% | 0.27% | −0.08 |
| AAPL Apple Inc. | Reduce -13.6% | 0.13% | −0.07 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.06 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| FTI Technipfmc PLC | Reduce -39.3% | 0.03% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -83.8% | 0.01% | −0.03 |
| ALAB Astera Labs Inc. | Reduce -75.2% | 0.01% | −0.03 |
| SLAB Silicon Laboratories Inc. | Sold out | 0.00% | −0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -13.8% | 0.11% | −0.03 |
| PINS Pinterest Inc. Class A | Reduce -65.9% | 0.01% | −0.03 |
| CCNE CNB Financial Corp. | Reduce -30.9% | 0.03% | −0.02 |
| WTTR Select Water Solutions Inc. | Sold out | 0.00% | −0.02 |
| SEI Solaris Energy Infrastructur | Reduce -8.5% | 0.66% | −0.02 |
| LNWO Light & Wonder Inc. | Sold out | 0.00% | −0.02 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.02 |
| LLY Eli Lilly & Co. | Reduce -18.3% | 0.03% | −0.02 |
| U Unity Software Inc. | Sold out | 0.00% | −0.02 |
| LNTH Lantheus Holdings Inc. | Sold out | 0.00% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -4.2% | 0.15% | −0.02 |
| TDW Tidewater Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| AVAV Aerovironment Inc. | Add +12.4% | 2.64% | +1.43 |
| MRCY Mercury Systems Inc. | New | 0.90% | +0.90 |
| AGYS Agilysys Inc. | Add +44.4% | 1.42% | +0.65 |
| AMSC American Superconductor Corp. | Add +1191.5% | 0.67% | +0.64 |
| ESE Esco Technologies Inc. | New | 0.63% | +0.63 |
| KTOS Kratos Defense & Security | Add +2.2% | 2.57% | +0.60 |
| EYE National Vision Holdings Inc. | Add +20.7% | 1.37% | +0.59 |
| MIRM Mirum Pharmaceuticals Inc. | New | 0.57% | +0.57 |
| ONTO Onto Innovation Inc. | New | 0.48% | +0.48 |
| IONQ Ionq Inc. | New | 0.47% | +0.47 |
| STRL Sterling Infrastructure Inc. | New | 0.46% | +0.46 |
| ITGR Integer Holdings Corp. | Add +1542.0% | 0.47% | +0.43 |
| AXSM Axsome Therapeutics Inc. | New | 0.43% | +0.43 |
| EE Excelerate Energy Inc. Class A | New | 0.43% | +0.43 |
| RMBS Rambus Inc. | Add +33.8% | 1.67% | +0.43 |
| FIVE Five Below | Add +4739.2% | 0.43% | +0.42 |
| COGT Cogent Biosciences Inc. | New | 0.38% | +0.38 |
| SITM Sitime Corp. | Add +29.7% | 1.17% | +0.37 |
| LITE Lumentum Holdings Inc. | Add +5.2% | 1.55% | +0.36 |
| ARLO Arlo Technologies Inc. | Add +4.2% | 1.09% | +0.34 |
| CORT Corcept Therapeutics Inc. | Add +289.3% | 0.65% | +0.33 |
| GH Guardant Health Inc. | Add +31.7% | 1.33% | +0.32 |
| ASIC Ategrity Specialty Holdings | New | 0.32% | +0.32 |
| QBTS D-Wave Quantum Inc. | New | 0.30% | +0.30 |
| RSI Rush Street Interactive Inc. | Add +57.3% | 0.65% | +0.29 |
| BOOT Boot Barn Holdings Inc. | Add +23.4% | 0.91% | +0.27 |
| MOD Modine Manufacturing Co. | Add +23.4% | 1.16% | +0.26 |
| CWAN Clearwater Analytics HDS-A | Add +115.3% | 0.86% | +0.26 |
| SLNO Soleno Therapeutics Inc. | Add +19.2% | 2.07% | +0.25 |
| UMBF Umb Financial Corp. | Add +69.8% | 0.82% | +0.25 |
| FWRG First Watch Restaurant Group | New | 0.23% | +0.23 |
| LIF LIFE360 Inc. | Add +3.8% | 0.67% | +0.20 |
| VSEC Vse Corp. | Add +38.3% | 1.09% | +0.20 |
| MIR Mirion Technologies Inc. | Add +9.7% | 0.76% | +0.19 |
| OMDA Omada Health Inc. | New | 0.19% | +0.19 |
| CADE Cadence Bank | New | 0.18% | +0.18 |
| OSW Onespaworld Holdings Ltd. | Add +36.0% | 0.69% | +0.18 |
| SKYT Skywater Technology Inc. | Add +36.2% | 0.49% | +0.17 |
| AAOI Applied Optoelectronics Inc. | Add +4.0% | 0.58% | +0.17 |
| MTSI Macom Technology Solutions H | Add +4.6% | 0.96% | +0.17 |
| MARA Mara Holdings Inc. | Add +77.4% | 0.33% | +0.16 |
| SOC Sable Offshore Corp. | Add +110.2% | 0.49% | +0.16 |
| ETNB 89BIO Inc. | Add +18.9% | 0.66% | +0.16 |
| FA First Advantage Corp. | Add +26.1% | 0.87% | +0.15 |
| SWIM Latham Group Inc. | Add +234.4% | 0.23% | +0.14 |
| NSSC Napco Security Technologies | Add +27.2% | 0.57% | +0.14 |
| VRNS Varonis Systems Inc. | Add +3.9% | 1.75% | +0.10 |
| CVLT Commvault Systems Inc. | Add +30.6% | 0.68% | +0.10 |
| VITL Vital Farms Inc. | Add +3.8% | 1.43% | +0.09 |
| BJRI Bj's Restaurants Inc. | Add +2.6% | 0.97% | +0.08 |
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 |