# EDGAR Filing Document

**Accession Number:** 0001015083
**File Stem:** 0001104659-23-010441
**Filing Date:** 2023-2
**Character Count:** 28028
**Document Hash:** d7cd79c93e06655950f90be8fbc48f73
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-010441.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001104659-23-010441

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**EFFECTIVENESS DATE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMERALD ADVISERS, LLC
- **CENTRAL INDEX KEY:** 0001015083
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** PA

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05618
- **FILM NUMBER:** 23585499

**BUSINESS ADDRESS:**
- **STREET 1:** 3175 OREGON PIKE
- **CITY:** LEOLA
- **STATE:** PA
- **ZIP:** 17540
- **BUSINESS PHONE:** 717-556-8900

**MAIL ADDRESS:**
- **STREET 1:** 3175 OREGON PIKE
- **CITY:** LEOLA
- **STATE:** PA
- **ZIP:** 17540

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EMERALD ADVISERS INC/PA
- **DATE OF NAME CHANGE:** 19990406

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** EMERALD ADVISERS LLC<br>**Address:** 3175 Oregon Pike<br>Leola, PA 17540

**Form 13F File Number:** 028-05618

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Kenneth G. Mertz II<br>**Title:** President<br>**Phone:** 717-396-1116

**Signature, Place, and Date of Signing:**

/s/ Kenneth G. Mertz II  Lancaster, PA  02-03-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 246

**Form 13F Information Table Value Total:** $2069444123

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| APPLE INC | COM | 037833100 |  | 5177889 | 39851 | SH |  | SOLE |  | 39851 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 834184 | 7598 | SH |  | SOLE |  | 7598 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 21048564 | 1322146 | SH |  | SOLE |  | 977436 | 0 | 344710 |
| PROFRAC HOLDING CORP | COM | 74319N100 |  | 26116650 | 1036375 | SH |  | SOLE |  | 759777 | 0 | 276598 |
| ADOBE INC | COM | 00724F101 |  | 26586 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| ADEIA INC | COM | 00676P107 |  | 39 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| PLAYAGS INC | COM | 72814N104 |  | 1043542 | 204616 | SH |  | SOLE |  | 204616 | 0 | 0 |
| ADAPTHEALTH CORP | COM | 00653Q102 |  | 21663458 | 1127131 | SH |  | SOLE |  | 828761 | 0 | 298370 |
| ALTRA INDUSTRIAL MOTION CORP | COM | 02208R106 |  | 12315909 | 206124 | SH |  | SOLE |  | 145415 | 0 | 60709 |
| ALKERMES PLC | COM | G01767105 |  | 16708306 | 639430 | SH |  | SOLE |  | 492273 | 0 | 147157 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 607671 | 2557 | SH |  | SOLE |  | 1909 | 0 | 648 |
| AMBARELLA INC | COM | G037AX101 |  | 7657504 | 93123 | SH |  | SOLE |  | 68642 | 0 | 24481 |
| AMYLYX PHARMACEUTICALS INC | COM | 03237H101 |  | 30923788 | 836909 | SH |  | SOLE |  | 616125 | 0 | 220784 |
| AMERESCO INC | COM | 02361E108 |  | 17411929 | 304724 | SH |  | SOLE |  | 223789 | 0 | 80935 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 37076 | 175 | SH |  | SOLE |  | 175 | 0 | 0 |
| AMAZON.COM INC | COM | 023135106 |  | 2387196 | 28419 | SH |  | SOLE |  | 28419 | 0 | 0 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 |  | 17831384 | 443236 | SH |  | SOLE |  | 302354 | 0 | 140882 |
| ANSYS INC | COM | 03662Q105 |  | 15462 | 64 | SH |  | SOLE |  | 64 | 0 | 0 |
| AMPHENOL CORP NEW CL A | COM | 032095101 |  | 503209 | 6609 | SH |  | SOLE |  | 4923 | 0 | 1686 |
| EVOQUA WATER TECHNOLOGIES INC | COM | 30057T105 |  | 11712611 | 295773 | SH |  | SOLE |  | 226501 | 0 | 69272 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 413562 | 13345 | SH |  | SOLE |  | 10362 | 0 | 2983 |
| ARHAUS INC | COM | 04035M102 |  | 9018253 | 924949 | SH |  | SOLE |  | 637916 | 0 | 287033 |
| ARIS WATER SOLUTION INC | COM | 04041L106 |  | 14900776 | 1034058 | SH |  | SOLE |  | 766940 | 0 | 267118 |
| ARK GENOMIC REVOLUTION ETF | COM | 00214Q302 |  | 47878 | 1696 | SH |  | SOLE |  | 1696 | 0 | 0 |
| ARVINAS INC | COM | 04335A105 |  | 12297913 | 359483 | SH |  | SOLE |  | 263751 | 0 | 95732 |
| ANTERIX INC | COM | 03676C100 |  | 35387 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| ALLEGHENY TECHNOLOGIES INC | COM | 01741R102 |  | 87191 | 2920 | SH |  | SOLE |  | 2920 | 0 | 0 |
| ATRICURE INC | COM | 04963C209 |  | 22949652 | 517117 | SH |  | SOLE |  | 380552 | 0 | 136565 |
| AEROVIRONMENT INC | COM | 008073108 |  | 15035300 | 175523 | SH |  | SOLE |  | 127742 | 0 | 47781 |
| ALTERYX INC | COM | 02156B103 |  | 1071873 | 21154 | SH |  | SOLE |  | 17829 | 0 | 3325 |
| AUTOZONE INC | COM | 053332102 |  | 2093787 | 849 | SH |  | SOLE |  | 688 | 0 | 161 |
| AZENTA INC | COM | 114340102 |  | 171633 | 2948 | SH |  | SOLE |  | 2199 | 0 | 749 |
| BANK OF AMER CORP | COM | 060505104 |  | 39744 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| BRUNSWICK CORP | COM | 117043109 |  | 562656 | 7806 | SH |  | SOLE |  | 5828 | 0 | 1978 |
| BJ'S RESTAURANT INC | COM | 09180C106 |  | 16053417 | 608545 | SH |  | SOLE |  | 447726 | 0 | 160819 |
| BIOMERICA INC | COM | 09061H307 |  | 63650 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 915369 | 8845 | SH |  | SOLE |  | 7610 | 0 | 1235 |
| BLUEPRINT MEDICINES CORP | COM | 09627Y109 |  | 17136544 | 391156 | SH |  | SOLE |  | 287137 | 0 | 104019 |
| BRP GROUP INC | COM | 05589G102 |  | 28081606 | 1117009 | SH |  | SOLE |  | 823976 | 0 | 293033 |
| BABCOCK  WILCOX ENTERPRISES | COM | 05614L209 |  | 10699726 | 1854372 | SH |  | SOLE |  | 1412738 | 0 | 441634 |
| CITIGROUP INC | COM | 172967424 |  | 270 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| CROWN HOLDINGS INC | COM | 228368106 |  | 1669767 | 20311 | SH |  | SOLE |  | 17365 | 0 | 2946 |
| CNB FINL CORP PA | COM | 126128107 |  | 5880460 | 247182 | SH |  | SOLE |  | 4112 | 0 | 243070 |
| COGENT COMMUNICATIONS HOLDINGS | COM | 19239V302 |  | 14482281 | 253719 | SH |  | SOLE |  | 184069 | 0 | 69650 |
| CADENCE DESIGN SYS INC | COM | 127387108 |  | 1968001 | 12251 | SH |  | SOLE |  | 10036 | 0 | 2215 |
| CELSIUS HOLDINGS INC | COM | 15118V207 |  | 24354516 | 234088 | SH |  | SOLE |  | 171447 | 0 | 62641 |
| CERTARA INC | COM | 15687V109 |  | 8700909 | 541438 | SH |  | SOLE |  | 399353 | 0 | 142085 |
| CHURCHILL DOWNS INC | COM | 171484108 |  | 37655049 | 178097 | SH |  | SOLE |  | 132139 | 0 | 45958 |
| CHUY'S HOLDINGS INC | COM | 171604101 |  | 12244844 | 432680 | SH |  | SOLE |  | 315480 | 0 | 117200 |
| CHAMPIONX CORP | COM | 15872M104 |  | 17070327 | 588835 | SH |  | SOLE |  | 432849 | 0 | 155986 |
| CHIPOTLE MEXICAN GRILL | COM | 169656105 |  | 1144679 | 825 | SH |  | SOLE |  | 631 | 0 | 194 |
| CINEMARK HOLDINGS INC | COM | 17243V102 |  | 487861 | 56335 | SH |  | SOLE |  | 56335 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 13760429 | 392035 | SH |  | SOLE |  | 291802 | 0 | 100233 |
| COLLEGIUM PHARMACEUTICAL INC | COM | 19459J104 |  | 18877585 | 813689 | SH |  | SOLE |  | 601143 | 0 | 212546 |
| COSTCO WHOLESALE CORP | COM | 22160K105 |  | 424545 | 930 | SH |  | SOLE |  | 930 | 0 | 0 |
| CREDO TECHNOLOGY GROUP HOLDINGS | COM | G25457105 |  | 4566501 | 343088 | SH |  | SOLE |  | 258906 | 0 | 84182 |
| SALESFORCE.COM INC | COM | 79466L302 |  | 26518 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 25759112 | 697323 | SH |  | SOLE |  | 511936 | 0 | 185387 |
| CROWDSTRIKE HOLDINGS INC | COM | 22788C105 |  | 1171457 | 11126 | SH |  | SOLE |  | 9658 | 0 | 1468 |
| CISCO SYS INC | COM | 17275R102 |  | 34422 | 723 | SH |  | SOLE |  | 723 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 1041039 | 13471 | SH |  | SOLE |  | 10041 | 0 | 3430 |
| CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC | COM | 16842Q100 |  | 38400 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| CUSTOMERS BANCORP INC | COM | 23204G100 |  | 16042594 | 566076 | SH |  | SOLE |  | 419668 | 0 | 146408 |
| CUTERA INC | COM | 232109108 |  | 14910188 | 337182 | SH |  | SOLE |  | 247219 | 0 | 89963 |
| CVRx INC | COM | 126638105 |  | 3218975 | 175421 | SH |  | SOLE |  | 138005 | 0 | 37416 |
| CVS CORP | COM | 126650100 |  | 336837 | 3615 | SH |  | SOLE |  | 3615 | 0 | 0 |
| CAMPING WORLD HOLDINGS INC | COM | 13462K109 |  | 53568 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| CYTOKENETICS INC | COM | 23282W605 |  | 21641244 | 472310 | SH |  | SOLE |  | 345868 | 0 | 126442 |
| CITIZENS  NORTHERN CORP | COM | 172922106 |  | 68580 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| DELTA AIR LINES INC | COM | 247361702 |  | 262157 | 7978 | SH |  | SOLE |  | 5962 | 0 | 2016 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 1095763 | 17507 | SH |  | SOLE |  | 15407 | 0 | 2100 |
| DOCGO INC | COM | 256086109 |  | 13018260 | 1841338 | SH |  | SOLE |  | 1349465 | 0 | 491873 |
| DENBURY INC | COM | 24790A101 |  | 10472161 | 120342 | SH |  | SOLE |  | 86431 | 0 | 33911 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 2157281 | 17934 | SH |  | SOLE |  | 15207 | 0 | 2727 |
| DEXCOM INC | COM | 252131107 |  | 528151 | 4664 | SH |  | SOLE |  | 3480 | 0 | 1184 |
| EBIX INC | COM | 278715206 |  | 412833 | 20683 | SH |  | SOLE |  | 20683 | 0 | 0 |
| EXCELERATE ENERGY INC | COM | 30069T101 |  | 17470822 | 697438 | SH |  | SOLE |  | 519507 | 0 | 177931 |
| EURONET WORLDWIDE INC | COM | 298736109 |  | 1339158 | 14189 | SH |  | SOLE |  | 11822 | 0 | 2367 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 |  | 47736 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| EMAGIN CORPORATION | COM | 29076N206 |  | 850 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 750367 | 2832 | SH |  | SOLE |  | 2115 | 0 | 717 |
| ENOVIX CORPORATION | COM | 293594107 |  | 74640 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| EPAM SYSTEMS INC | COM | 29414B104 |  | 148466 | 453 | SH |  | SOLE |  | 341 | 0 | 112 |
| ETSY INC | COM | 29786A106 |  | 383895 | 3205 | SH |  | SOLE |  | 2393 | 0 | 812 |
| EVERQUOTE INC | COM | 30041R108 |  | 299030 | 20287 | SH |  | SOLE |  | 20287 | 0 | 0 |
| EVERI HOLDINGS INC | COM | 30034T103 |  | 29062739 | 2025278 | SH |  | SOLE |  | 1485813 | 0 | 539465 |
| EXPEDIA GROUP INC | COM | 30212P303 |  | 365818 | 4176 | SH |  | SOLE |  | 3102 | 0 | 1074 |
| EXPONENT INC | COM | 30214U102 |  | 26549976 | 267938 | SH |  | SOLE |  | 197042 | 0 | 70896 |
| NATIONAL VISION HOLDINGS | COM | 63845R107 |  | 30244544 | 780303 | SH |  | SOLE |  | 574122 | 0 | 206181 |
| FIRST ADVANTAGE CORP | COM | 31846B108 |  | 10785294 | 829638 | SH |  | SOLE |  | 609550 | 0 | 220088 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 347695 | 2542 | SH |  | SOLE |  | 1899 | 0 | 643 |
| FIVE BELOW | COM | 33829M101 |  | 11396972 | 64437 | SH |  | SOLE |  | 46717 | 0 | 17720 |
| FULL HOUSE RESORTS INC | COM | 359678109 |  | 25568 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| SHIFT4 PAYMENTS INC | COM | 82452J109 |  | 30670222 | 548368 | SH |  | SOLE |  | 402495 | 0 | 145873 |
| FRESHPET INC | COM | 358039105 |  | 28185407 | 534118 | SH |  | SOLE |  | 391588 | 0 | 142530 |
| FORTINET INC | COM | 34959E109 |  | 768991 | 15729 | SH |  | SOLE |  | 11744 | 0 | 3985 |
| FORWARD AIR CORP COM | COM | 349853101 |  | 22156229 | 211233 | SH |  | SOLE |  | 155690 | 0 | 55543 |
| GOODRX HOLDINGS INC | COM | 38246G108 |  | 1445 | 310 | SH |  | SOLE |  | 310 | 0 | 0 |
| GENERAC HOLDINGS INC | COM | 368736104 |  | 264132 | 2624 | SH |  | SOLE |  | 1957 | 0 | 667 |
| ALPHABET INC CLA A | COM | 02079K305 |  | 2034231 | 23056 | SH |  | SOLE |  | 23056 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 39650 | 115 | SH |  | SOLE |  | 115 | 0 | 0 |
| CHART INDS INC | COM | 16115Q308 |  | 22044190 | 191306 | SH |  | SOLE |  | 139937 | 0 | 51369 |
| GXO LOGISTICS INC | COM | 36262G101 |  | 2549916 | 59731 | SH |  | SOLE |  | 52560 | 0 | 7171 |
| HYATT HOTELS CORPORATION | COM | 448579102 |  | 1777343 | 19650 | SH |  | SOLE |  | 16347 | 0 | 3303 |
| HAEMONETICS CORPORATION | COM | 405024100 |  | 13856085 | 176174 | SH |  | SOLE |  | 128999 | 0 | 47175 |
| HALLIBURTON CO | COM | 406216101 |  | 772519 | 19632 | SH |  | SOLE |  | 14657 | 0 | 4975 |
| HANNON ARMSTRONG INFRASTRUCTURE CAPITAL | COM | 41068X100 |  | 4906256 | 169298 | SH |  | SOLE |  | 131283 | 0 | 38015 |
| HOME DEPOT INC | COM | 437076102 |  | 479160 | 1517 | SH |  | SOLE |  | 1517 | 0 | 0 |
| HESS CORP | COM | 42809H107 |  | 595644 | 4200 | SH |  | SOLE |  | 3136 | 0 | 1064 |
| HOULIHAN LOKEY | COM | 441593100 |  | 16062368 | 184286 | SH |  | SOLE |  | 138732 | 0 | 45554 |
| HERC HOLDINGS INC | COM | 42704L104 |  | 17778396 | 135125 | SH |  | SOLE |  | 100231 | 0 | 34894 |
| IntercontinentalExchange Group Inc | COM | 45866F104 |  | 145538 | 1419 | SH |  | SOLE |  | 1419 | 0 | 0 |
| ICU MEDICAL INC | COM | 44930G107 |  | 18110 | 115 | SH |  | SOLE |  | 115 | 0 | 0 |
| I3 VERTICALS INC | COM | 46571Y107 |  | 48680 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 628640 | 3109 | SH |  | SOLE |  | 2679 | 0 | 430 |
| INSMED INC | COM | 457669307 |  | 19878362 | 994913 | SH |  | SOLE |  | 730141 | 0 | 264772 |
| INTEL CORP | COM | 458140100 |  | 20404 | 772 | SH |  | SOLE |  | 772 | 0 | 0 |
| IPG PHOTONICS CORP | COM | 44980X109 |  | 5999617 | 63374 | SH |  | SOLE |  | 49490 | 0 | 13884 |
| IVERIC BIO INC | COM | 46583P102 |  | 16272542 | 760044 | SH |  | SOLE |  | 556858 | 0 | 203186 |
| INTEGER HOLDINGS CORP | COM | 45826H109 |  | 1699246 | 24821 | SH |  | SOLE |  | 21016 | 0 | 3805 |
| JACK IN THE BOX INC | COM | 466367109 |  | 21329721 | 312615 | SH |  | SOLE |  | 229733 | 0 | 82882 |
| JAMF HOLDING CORP | COM | 47074L105 |  | 6624918 | 311029 | SH |  | SOLE |  | 232332 | 0 | 78697 |
| JONES SODA CO | COM | 48023P106 |  | 12355 | 46624 | SH |  | SOLE |  | 46624 | 0 | 0 |
| KEYSIGHT TECHNO | COM | 49338L103 |  | 632617 | 3698 | SH |  | SOLE |  | 2739 | 0 | 959 |
| KINSALE CAPITAL GROUP INC | COM | 49714P108 |  | 20660 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| KARUNA THERAPEUTICS INC | COM | 48576A100 |  | 19832745 | 100930 | SH |  | SOLE |  | 74054 | 0 | 26876 |
| KRATOS DEFENSE AND SECURITY | COM | 50077B207 |  | 19531549 | 1892592 | SH |  | SOLE |  | 1404020 | 0 | 488572 |
| L3 HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 488877 | 2348 | SH |  | SOLE |  | 1753 | 0 | 595 |
| LINBLAD EXPEDITIONS HOLDINGS | COM | 535219109 |  | 7190260 | 933800 | SH |  | SOLE |  | 664580 | 0 | 269220 |
| ELI LILLY  CO | COM | 532457108 |  | 316086 | 864 | SH |  | SOLE |  | 864 | 0 | 0 |
| CHENIERE ENERGY INC | COM | 16411R208 |  | 1782724 | 11888 | SH |  | SOLE |  | 10062 | 0 | 1826 |
| LANTHEUS HOLDINGS INC | COM | 516544103 |  | 21710947 | 426039 | SH |  | SOLE |  | 312551 | 0 | 113488 |
| LIVE OAK BANCSHARES INC | COM | 53803X105 |  | 411777 | 13635 | SH |  | SOLE |  | 13635 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 1475670 | 4606 | SH |  | SOLE |  | 3825 | 0 | 781 |
| 908 DEVICES INC | COM | 65443P102 |  | 680215 | 89267 | SH |  | SOLE |  | 67207 | 0 | 22060 |
| MOELIS  CO | COM | 60786M105 |  | 28190132 | 734692 | SH |  | SOLE |  | 539046 | 0 | 195646 |
| METROPOLITAN BANK HOLDING CO | COM | 591774104 |  | 19361 | 330 | SH |  | SOLE |  | 330 | 0 | 0 |
| MONGODB INC | COM | 60937P106 |  | 844837 | 4292 | SH |  | SOLE |  | 3601 | 0 | 691 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 3769767 | 12988 | SH |  | SOLE |  | 9414 | 0 | 3574 |
| MONTROSE ENVIRONMENTAL GROUP | COM | 615111101 |  | 21205325 | 477705 | SH |  | SOLE |  | 341774 | 0 | 135931 |
| META PLATFORMS INC | COM | 30303M102 |  | 381839 | 3173 | SH |  | SOLE |  | 3173 | 0 | 0 |
| MARKETAXESS HOLDINGS INC | COM | 57060D108 |  | 574513 | 2060 | SH |  | SOLE |  | 1538 | 0 | 522 |
| MERIT MED SYS INC | COM | 589889104 |  | 36875645 | 522170 | SH |  | SOLE |  | 388465 | 0 | 133705 |
| MANNKIND CORP | COM | 56400P706 |  | 19576827 | 3714768 | SH |  | SOLE |  | 2733360 | 0 | 981408 |
| MODEL N INC | COM | 607525102 |  | 29186976 | 719600 | SH |  | SOLE |  | 520969 | 0 | 198631 |
| MP MATERIALS CORP | COM | 553368101 |  | 674377 | 27775 | SH |  | SOLE |  | 24514 | 0 | 3261 |
| MID PENN BANCORP INC | COM | 59540G107 |  | 815753 | 27219 | SH |  | SOLE |  | 27219 | 0 | 0 |
| MONOLITHICPOWER SYSTEMS INC | COM | 609839105 |  | 263086 | 744 | SH |  | SOLE |  | 560 | 0 | 184 |
| MERCURY SYSTEMS INC | COM | 589378108 |  | 14404669 | 321964 | SH |  | SOLE |  | 235017 | 0 | 86947 |
| MARVELL TECHNOLOGY | COM | 573874104 |  | 253576 | 6846 | SH |  | SOLE |  | 5104 | 0 | 1742 |
| MICROSOFT CORP | COM | 594918104 |  | 5540094 | 23101 | SH |  | SOLE |  | 23101 | 0 | 0 |
| MATCH GROUP INC | COM | 57667L107 |  | 1048743 | 25277 | SH |  | SOLE |  | 21469 | 0 | 3808 |
| MATADOR RESOURCES CO | COM | 576485205 |  | 21733169 | 379685 | SH |  | SOLE |  | 278890 | 0 | 100795 |
| MACOM TECHNOLOGY SOLUTIONS | COM | 55405Y100 |  | 37886249 | 601560 | SH |  | SOLE |  | 441234 | 0 | 160326 |
| MASTEC INC | COM | 576323109 |  | 1461276 | 17125 | SH |  | SOLE |  | 13957 | 0 | 3168 |
| NOODLES AND COMPANY | COM | 65540B105 |  | 6384952 | 1163015 | SH |  | SOLE |  | 805609 | 0 | 357406 |
| NEOGENOMICS INC | COM | 64049M209 |  | 19418479 | 2101567 | SH |  | SOLE |  | 1575353 | 0 | 526214 |
| NEW FORTRESS ENERGY INC | COM | 644393100 |  | 552011 | 13013 | SH |  | SOLE |  | 9704 | 0 | 3309 |
| NORTHERN OIL AND GAS | COM | 665531307 |  | 26188432 | 849722 | SH |  | SOLE |  | 632073 | 0 | 217649 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2133790 | 14601 | SH |  | SOLE |  | 14601 | 0 | 0 |
| NV5 GLOBAL INC | COM | 62945V109 |  | 34177991 | 258298 | SH |  | SOLE |  | 190225 | 0 | 68073 |
| OWENS CORNING | COM | 690742101 |  | 302900 | 3551 | SH |  | SOLE |  | 2653 | 0 | 898 |
| OCEANFIRST FINANCIAL CORP | COM | 675234108 |  | 626174 | 29467 | SH |  | SOLE |  | 29467 | 0 | 0 |
| OCULAR THERAPEUTIX INC | COM | 67576A100 |  | 2712327 | 965241 | SH |  | SOLE |  | 707496 | 0 | 257745 |
| ON SEMICONDUCTOR CORPORATION | COM | 682189105 |  | 307484 | 4930 | SH |  | SOLE |  | 3683 | 0 | 1247 |
| OVERSTOCK.COM INC | COM | 690370101 |  | 105512 | 5450 | SH |  | SOLE |  | 5450 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1121902 | 8040 | SH |  | SOLE |  | 6963 | 0 | 1077 |
| PACIRA BIOSCIENCES INC | COM | 695127100 |  | 8672771 | 224625 | SH |  | SOLE |  | 164694 | 0 | 59931 |
| PDF SOLUTIONS INC | COM | 693282105 |  | 11156026 | 391165 | SH |  | SOLE |  | 289554 | 0 | 101611 |
| PENN NATL GAMING INC | COM | 707569109 |  | 51975 | 1750 | SH |  | SOLE |  | 1750 | 0 | 0 |
| PALOMAR HOLDINGS INC | COM | 69753M105 |  | 24175683 | 535334 | SH |  | SOLE |  | 395108 | 0 | 140226 |
| PLANET FITNESS INC | COM | 72703H101 |  | 32917597 | 417736 | SH |  | SOLE |  | 308210 | 0 | 109526 |
| Plug Power Inc | COM | 72919P202 |  | 43481 | 3515 | SH |  | SOLE |  | 3515 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 527264 | 1744 | SH |  | SOLE |  | 1303 | 0 | 441 |
| PACIFIC PREMIER BANCORP | COM | 69478X105 |  | 26702884 | 846099 | SH |  | SOLE |  | 628887 | 0 | 217212 |
| PERFICIENT INC | COM | 71375U101 |  | 28050083 | 401691 | SH |  | SOLE |  | 295038 | 0 | 106653 |
| PRIVIA HEALTH GROUP INC | COM | 74276R102 |  | 18987127 | 836069 | SH |  | SOLE |  | 613533 | 0 | 222536 |
| PURE STORAGE | COM | 74624M102 |  | 869379 | 32488 | SH |  | SOLE |  | 28302 | 0 | 4186 |
| PORTILLOS INC | COM | 73642K106 |  | 13976840 | 856424 | SH |  | SOLE |  | 628420 | 0 | 228004 |
| PIONEER NAT RES CO | COM | 723787107 |  | 68517 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| Quantum Fuel Systems Technologies Worldwide Inc | COM | 74765E307 |  | 0 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| ULTRAGENYX PHARMACEUTICAL INC | COM | 90400D108 |  | 15971109 | 344725 | SH |  | SOLE |  | 253956 | 0 | 90769 |
| REPLIMUNE GROUP INC | COM | 76029N106 |  | 32260315 | 1186041 | SH |  | SOLE |  | 869980 | 0 | 316061 |
| REATA PHARMACEUTICALS INC | COM | 75615P103 |  | 25824538 | 679772 | SH |  | SOLE |  | 500160 | 0 | 179612 |
| RYMAN HOSPITALITY PROPERTIES | COM | 78377T107 |  | 11365294 | 138974 | SH |  | SOLE |  | 102904 | 0 | 36070 |
| RESMED INC | COM | 761152107 |  | 523239 | 2514 | SH |  | SOLE |  | 1878 | 0 | 636 |
| RAPID7 INC | COM | 753422104 |  | 13108770 | 385779 | SH |  | SOLE |  | 292222 | 0 | 93557 |
| PROMETHEUS BIOSCIENCES INC | COM | 74349U108 |  | 16465790 | 149689 | SH |  | SOLE |  | 113908 | 0 | 35781 |
| SBA COMMUNICATIONS CORP CL A | COM | 78410G104 |  | 42887 | 153 | SH |  | SOLE |  | 153 | 0 | 0 |
| SIGNATURE BK NEW YORK N Y | COM | 82669G104 |  | 594190 | 5157 | SH |  | SOLE |  | 3898 | 0 | 1259 |
| SEAWORLD ENTERTAINMENT | COM | 81282V100 |  | 11130401 | 208006 | SH |  | SOLE |  | 155945 | 0 | 52061 |
| VIVID SEATS INC | COM | 92854T100 |  | 209890 | 28752 | SH |  | SOLE |  | 28752 | 0 | 0 |
| SEAGEN INC | COM | 81181C104 |  | 506715 | 3943 | SH |  | SOLE |  | 2945 | 0 | 998 |
| SILVERGATE CAPITAL CORPORATION | COM | 82837P408 |  | 76456 | 4394 | SH |  | SOLE |  | 4394 | 0 | 0 |
| SVB FINL GROUP | COM | 78486Q101 |  | 244179 | 1061 | SH |  | SOLE |  | 795 | 0 | 266 |
| SKYWATER TECHNOLOGY INC | COM | 83089J108 |  | 5615926 | 789863 | SH |  | SOLE |  | 593909 | 0 | 195954 |
| SUPER MICRO COMPUTER INC | COM | 86800U104 |  | 40427272 | 492415 | SH |  | SOLE |  | 363139 | 0 | 129276 |
| SCOTTS MIRACLE GRO COMPANY | COM | 810186106 |  | 1217520 | 25057 | SH |  | SOLE |  | 22166 | 0 | 2891 |
| SIMPLY GOOD FOODS CO | COM | 82900L102 |  | 40227754 | 1057790 | SH |  | SOLE |  | 777199 | 0 | 280591 |
| SUN COUNTRY AIRLINES HOLDING | COM | 866683105 |  | 11414093 | 719678 | SH |  | SOLE |  | 530225 | 0 | 189453 |
| SOFI TECHNOLOGIES | COM | 83406F102 |  | 61774 | 13400 | SH |  | SOLE |  | 13400 | 0 | 0 |
| SOLARIS OILFIELD INFRASTRUCTURE INC | COM | 83418M103 |  | 22839 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 662176 | 1977 | SH |  | SOLE |  | 1713 | 0 | 264 |
| SEASPINE HOLDINGS CORP | COM | 81255T108 |  | 7234649 | 866425 | SH |  | SOLE |  | 637485 | 0 | 228940 |
| SPOTIFY TECHNOLOGY S.A. | COM | L8681T102 |  | 194928 | 2469 | SH |  | SOLE |  | 1845 | 0 | 624 |
| SAREPTA THERAPEUTICS INC | COM | 803607100 |  | 2045809 | 15788 | SH |  | SOLE |  | 13758 | 0 | 2030 |
| STERIS PUBLIC LIMITED COMPANY | COM | G8473T100 |  | 529506 | 2867 | SH |  | SOLE |  | 2141 | 0 | 726 |
| STEVANATO GROUP SPA | COM | T9224W109 |  | 318770 | 17739 | SH |  | SOLE |  | 13251 | 0 | 4488 |
| THE BANCORP INC | COM | 05969A105 |  | 56760 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| TENABLE HOLDING | COM | 88025T102 |  | 9306731 | 243951 | SH |  | SOLE |  | 179405 | 0 | 64546 |
| TERADYNE INC | COM | 880770102 |  | 426967 | 4888 | SH |  | SOLE |  | 3651 | 0 | 1237 |
| TRIUMPH FINANCIAL INC | COM | 89679E300 |  | 284179 | 5815 | SH |  | SOLE |  | 5815 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 19375 | 130 | SH |  | SOLE |  | 130 | 0 | 0 |
| THORNE HEALTHTECH INC | COM | 885260109 |  | 3845419 | 1059344 | SH |  | SOLE |  | 724339 | 0 | 335005 |
| MILLICOM INTL CELLULAR S A  SHS NEW | COM | L6388F110 |  | 278 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| TJX COS. | COM | 872540109 |  | 1458590 | 18324 | SH |  | SOLE |  | 18324 | 0 | 0 |
| TREACE MEDICAL CONCEPTS INC | COM | 89455T109 |  | 27317776 | 1188246 | SH |  | SOLE |  | 871344 | 0 | 316902 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 34727807 | 562667 | SH |  | SOLE |  | 415012 | 0 | 147655 |
| TRINET GROUP IN | COM | 896288107 |  | 25862513 | 381453 | SH |  | SOLE |  | 278532 | 0 | 102921 |
| TREX INC | COM | 89531P105 |  | 598970 | 14150 | SH |  | SOLE |  | 10566 | 0 | 3584 |
| TRINITY CAPITAL INC | COM | 896442308 |  | 5411006 | 495060 | SH |  | SOLE |  | 364827 | 0 | 130233 |
| TRIMBLE NAVIGA | COM | 896239100 |  | 462068 | 9139 | SH |  | SOLE |  | 6827 | 0 | 2312 |
| TERRENO REALTY CORP | COM | 88146M101 |  | 10425579 | 183323 | SH |  | SOLE |  | 134168 | 0 | 49155 |
| T ROWE PRICE GROUP INC | COM | 74144T108 |  | 225427 | 2067 | SH |  | SOLE |  | 1542 | 0 | 525 |
| TESLA MOTORS INC | COM | 88160R101 |  | 435318 | 3534 | SH |  | SOLE |  | 3534 | 0 | 0 |
| THE TRADE DESK | COM | 88339J105 |  | 232085 | 5177 | SH |  | SOLE |  | 3867 | 0 | 1310 |
| TETRA TECHNOLOGIES | COM | 88162F105 |  | 11665656 | 3371577 | SH |  | SOLE |  | 2538987 | 0 | 832590 |
| TAKE TWO INTERACTIVE SOFTWARE | COM | 874054109 |  | 1270594 | 12202 | SH |  | SOLE |  | 10625 | 0 | 1577 |
| UNTIY SOFTWARE INC | COM | 91332U101 |  | 238098 | 8328 | SH |  | SOLE |  | 6221 | 0 | 2107 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 877448 | 1655 | SH |  | SOLE |  | 1655 | 0 | 0 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 26263376 | 94442 | SH |  | SOLE |  | 71142 | 0 | 23300 |
| UTZ BRANDS INC | COM | 918090101 |  | 10234204 | 645284 | SH |  | SOLE |  | 488042 | 0 | 157242 |
| VISA INC-CLASS A | COM | 92826C839 |  | 1400095 | 6739 | SH |  | SOLE |  | 6739 | 0 | 0 |
| VISTEON CORP | COM | 92839U206 |  | 13982064 | 106872 | SH |  | SOLE |  | 78408 | 0 | 28464 |
| VEEVA SYSTEMS INC | COM | 922475108 |  | 407162 | 2523 | SH |  | SOLE |  | 1883 | 0 | 640 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 5978435 | 568833 | SH |  | SOLE |  | 420225 | 0 | 148608 |
| VARONIS SYSTEMS INC | COM | 922280102 |  | 22843787 | 954210 | SH |  | SOLE |  | 701508 | 0 | 252702 |
| CACTUS INC | COM | 127203107 |  | 34820982 | 692817 | SH |  | SOLE |  | 511727 | 0 | 181090 |
| PETCO HEALTH AND WELLNESS CO | COM | 71601V105 |  | 12614685 | 1330663 | SH |  | SOLE |  | 989830 | 0 | 340833 |
| WILLSCOT MOBILE MINI HOLDING | COM | 971378104 |  | 2906509 | 64346 | SH |  | SOLE |  | 55375 | 0 | 8971 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 227197 | 1977 | SH |  | SOLE |  | 1477 | 0 | 500 |
| XPERI INC | COM | 98423J101 |  | 9 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| XPO LOGISTICS | COM | 983793100 |  | 143646 | 4315 | SH |  | SOLE |  | 3217 | 0 | 1098 |
| YETI HOLDINGS INC | COM | 98585X104 |  | 11828581 | 286337 | SH |  | SOLE |  | 210047 | 0 | 76290 |
| ZUORA INC | COM | 98983V106 |  | 30528 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| ZEVIA PBC | COM | 98955K104 |  | 5115183 | 1250656 | SH |  | SOLE |  | 912530 | 0 | 338126 |

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