# EDGAR Filing Document

**Accession Number:** 0002127823
**File Stem:** 0001104659-26-058459
**Filing Date:** 2026-5
**Character Count:** 27880
**Document Hash:** 36c886098c6517b958ba280f2527cf35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-058459.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001104659-26-058459

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Emerald Investment Advisers, LLC
- **CENTRAL INDEX KEY:** 0002127823

**ORGANIZATION NAME:**
- **EIN:** 413323215
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26882
- **FILM NUMBER:** 26961686

**BUSINESS ADDRESS:**
- **STREET 1:** 3175 OREGON PIKE
- **CITY:** LEOLA
- **STATE:** PA
- **ZIP:** 17540
- **BUSINESS PHONE:** 7175568900

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

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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 Investment Advisers LLC<br>**Address:** 3175 Oregon Pike<br>Leola, PA 17540

**Form 13F File Number:** 028-26882

**CRD Number (if applicable):** 000338769

**SEC File Number (if applicable):** 801-134558

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:** David Volpe<br>**Title:** Managing Director<br>**Phone:** 717-556-8900

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

David Volpe  Leola, PA  05-11-2026<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:** 251

**Form 13F Information Table Value Total:** $1111739795

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 8199619 | 37701 | SH |  | SOLE |  | 37701 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 2449468 | 110039 | SH |  | SOLE |  | 110039 | 0 | 0 |
| ACI WORLDWIDE INC | COM | 004498101 |  | 2947389 | 71870 | SH |  | SOLE |  | 71870 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 8162425 | 40124 | SH |  | SOLE |  | 40124 | 0 | 0 |
| AEROVIRONMENT INC | COM | 008073108 |  | 1130883 | 6178 | SH |  | SOLE |  | 6178 | 0 | 0 |
| ALLY FINL INC | COM | 02005N100 |  | 1274090 | 32477 | SH |  | SOLE |  | 32477 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 35234153 | 122528 | SH |  | SOLE |  | 122528 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 733347 | 11113 | SH |  | SOLE |  | 11113 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 24699156 | 118592 | SH |  | SOLE |  | 118592 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 5255590 | 17375 | SH |  | SOLE |  | 17375 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 4053683 | 11521 | SH |  | SOLE |  | 11521 | 0 | 0 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 |  | 5076323 | 66012 | SH |  | SOLE |  | 66012 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 |  | 709996 | 33570 | SH |  | SOLE |  | 33570 | 0 | 0 |
| API GROUP CORP | COM STK | 00187Y100 |  | 386601 | 9541 | SH |  | SOLE |  | 9541 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 49657820 | 195665 | SH |  | SOLE |  | 195665 | 0 | 0 |
| APPLIED INDL TECHNOLOGIES IN | COM | 03820C105 |  | 9843903 | 37102 | SH |  | SOLE |  | 37102 | 0 | 0 |
| APPLIED OPTOELECTRONICS INC | COM | 03823U102 |  | 4912564 | 58075 | SH |  | SOLE |  | 58075 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 1685928 | 4236 | SH |  | SOLE |  | 4236 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 2695389 | 21953 | SH |  | SOLE |  | 21953 | 0 | 0 |
| ASTERA LABS INC | COM | 04626A103 |  | 4544235 | 41462 | SH |  | SOLE |  | 41462 | 0 | 0 |
| ASTRANA HEALTH INC | COM NEW | 03763A207 |  | 1710295 | 69751 | SH |  | SOLE |  | 69751 | 0 | 0 |
| ATI INC | COM | 01741R102 |  | 426343 | 2931 | SH |  | SOLE |  | 2931 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIE | COM | 04956D107 |  | 426967 | 7521 | SH |  | SOLE |  | 7521 | 0 | 0 |
| ATRICURE INC | COM | 04963C209 |  | 2039667 | 71492 | SH |  | SOLE |  | 71492 | 0 | 0 |
| AVIENT CORPORATION | COM | 05368V106 |  | 283358 | 7806 | SH |  | SOLE |  | 7806 | 0 | 0 |
| AXCELIS TECHNOLOGIES INC | COM NEW | 054540208 |  | 3701233 | 39764 | SH |  | SOLE |  | 39764 | 0 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 290438 | 2864 | SH |  | SOLE |  | 2864 | 0 | 0 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 |  | 4628782 | 27386 | SH |  | SOLE |  | 27386 | 0 | 0 |
| AZZ INC | COM | 002474104 |  | 4602907 | 36785 | SH |  | SOLE |  | 36785 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1690136 | 34669 | SH |  | SOLE |  | 34669 | 0 | 0 |
| BANNER CORP | COM NEW | 06652V208 |  | 4815929 | 79366 | SH |  | SOLE |  | 79366 | 0 | 0 |
| BEL FUSE INC | CL B | 077347300 |  | 3780824 | 19097 | SH |  | SOLE |  | 19097 | 0 | 0 |
| BELDEN INC | COM | 077454106 |  | 5526309 | 48126 | SH |  | SOLE |  | 48126 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 723217 | 752 | SH |  | SOLE |  | 752 | 0 | 0 |
| BOOT BARN HLDGS INC | COM | 099406100 |  | 3753109 | 25643 | SH |  | SOLE |  | 25643 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 2665620 | 42480 | SH |  | SOLE |  | 42480 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 22401100 | 72376 | SH |  | SOLE |  | 72376 | 0 | 0 |
| CASELLA WASTE SYS INC | CL A | 147448104 |  | 4046261 | 50999 | SH |  | SOLE |  | 50999 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 3079576 | 4231 | SH |  | SOLE |  | 4231 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 1668432 | 2355 | SH |  | SOLE |  | 2355 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 3950158 | 14054 | SH |  | SOLE |  | 14054 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 5101986 | 24659 | SH |  | SOLE |  | 24659 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 325926 | 10182 | SH |  | SOLE |  | 10182 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 12087281 | 155784 | SH |  | SOLE |  | 155784 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 6340753 | 55910 | SH |  | SOLE |  | 55910 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 698244 | 2364 | SH |  | SOLE |  | 2364 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 8031184 | 105604 | SH |  | SOLE |  | 105604 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 723517 | 8489 | SH |  | SOLE |  | 8489 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 966317 | 33658 | SH |  | SOLE |  | 33658 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 519879 | 377 | SH |  | SOLE |  | 377 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 6051319 | 6073 | SH |  | SOLE |  | 6073 | 0 | 0 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 3681018 | 39214 | SH |  | SOLE |  | 39214 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 730592 | 8985 | SH |  | SOLE |  | 8985 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 664706 | 9255 | SH |  | SOLE |  | 9255 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 4404249 | 22466 | SH |  | SOLE |  | 22466 | 0 | 0 |
| DAVE INC | CLASS A COM NEW | 23834J201 |  | 2958834 | 16996 | SH |  | SOLE |  | 16996 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 7914189 | 40013 | SH |  | SOLE |  | 40013 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 908763 | 4583 | SH |  | SOLE |  | 4583 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 3985409 | 41351 | SH |  | SOLE |  | 41351 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 1018299 | 16472 | SH |  | SOLE |  | 16472 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 3395143 | 25929 | SH |  | SOLE |  | 25929 | 0 | 0 |
| EASTGROUP PPTYS INC | COM | 277276101 |  | 7142438 | 38589 | SH |  | SOLE |  | 38589 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 7907378 | 22108 | SH |  | SOLE |  | 22108 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 11881589 | 12918 | SH |  | SOLE |  | 12918 | 0 | 0 |
| ENERPAC TOOL GROUP CORP | CL A COM | 292765104 |  | 1814893 | 49764 | SH |  | SOLE |  | 49764 | 0 | 0 |
| ENOVA INTL INC | COM | 29357K103 |  | 5380905 | 39615 | SH |  | SOLE |  | 39615 | 0 | 0 |
| ENPRO INC | COM | 29355X107 |  | 7597953 | 30313 | SH |  | SOLE |  | 30313 | 0 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 |  | 8267747 | 41031 | SH |  | SOLE |  | 41031 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 7901513 | 70323 | SH |  | SOLE |  | 70323 | 0 | 0 |
| ENTERPRISE FINL SVCS CORP | COM | 293712105 |  | 4675645 | 86410 | SH |  | SOLE |  | 86410 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 209185 | 3287 | SH |  | SOLE |  | 3287 | 0 | 0 |
| ESCO TECHNOLOGIES INC | COM | 296315104 |  | 9311940 | 33095 | SH |  | SOLE |  | 33095 | 0 | 0 |
| EVERCORE INC | CLASS A | 29977A105 |  | 2895248 | 9699 | SH |  | SOLE |  | 9699 | 0 | 0 |
| FABRINET | SHS | G3323L100 |  | 5583915 | 10707 | SH |  | SOLE |  | 10707 | 0 | 0 |
| FEDERAL SIGNAL CORP | COM | 313855108 |  | 5730230 | 52989 | SH |  | SOLE |  | 52989 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 1291163 | 3625 | SH |  | SOLE |  | 3625 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 990676 | 19555 | SH |  | SOLE |  | 19555 | 0 | 0 |
| FLEXSHARES TR | MORNSTAR USMKT | 33939L100 |  | 480660 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| FLEXSHARES TR | QUALT DIVD IDX | 33939L860 |  | 488368 | 6185 | SH |  | SOLE |  | 6185 | 0 | 0 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 |  | 324168 | 5879 | SH |  | SOLE |  | 5879 | 0 | 0 |
| FLEXSHARES TR | IBOXX 3R TARGT | 33939L506 |  | 1809126 | 74557 | SH |  | SOLE |  | 74557 | 0 | 0 |
| FLEXSHARES TR | FLEXSHARES ULTRA | 33939L886 |  | 762746 | 10116 | SH |  | SOLE |  | 10116 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 835797 | 14219 | SH |  | SOLE |  | 14219 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 2349009 | 36447 | SH |  | SOLE |  | 36447 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 762671 | 13819 | SH |  | SOLE |  | 13819 | 0 | 0 |
| HAMILTON LANE INC | CL A | 407497106 |  | 407441 | 4099 | SH |  | SOLE |  | 4099 | 0 | 0 |
| HANCOCK WHITNEY CORPORATION | COM | 410120109 |  | 2523060 | 39677 | SH |  | SOLE |  | 39677 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 7270911 | 53767 | SH |  | SOLE |  | 53767 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 730642 | 7806 | SH |  | SOLE |  | 7806 | 0 | 0 |
| HERC HLDGS INC | COM | 42704L104 |  | 264803 | 2660 | SH |  | SOLE |  | 2660 | 0 | 0 |
| HF SINCLAIR CORP | COM | 403949100 |  | 294730 | 4724 | SH |  | SOLE |  | 4724 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 9387836 | 28544 | SH |  | SOLE |  | 28544 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 2245171 | 9933 | SH |  | SOLE |  | 9933 | 0 | 0 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 |  | 2760500 | 64679 | SH |  | SOLE |  | 64679 | 0 | 0 |
| HURON CONSULTING GROUP INC | COM | 447462102 |  | 4595632 | 36047 | SH |  | SOLE |  | 36047 | 0 | 0 |
| ICU MED INC | COM | 44930G107 |  | 3083327 | 23874 | SH |  | SOLE |  | 23874 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 5890507 | 41201 | SH |  | SOLE |  | 41201 | 0 | 0 |
| IES HLDGS INC | COM | 44951W106 |  | 7311909 | 15346 | SH |  | SOLE |  | 15346 | 0 | 0 |
| INSTALLED BLDG PRODS INC | COM | 45780R101 |  | 4521868 | 17054 | SH |  | SOLE |  | 17054 | 0 | 0 |
| INTEGER HLDGS CORP | COM | 45826H109 |  | 3267704 | 37133 | SH |  | SOLE |  | 37133 | 0 | 0 |
| INTERDIGITAL INC | COM | 45867G101 |  | 5142456 | 17028 | SH |  | SOLE |  | 17028 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 9301003 | 38372 | SH |  | SOLE |  | 38372 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 776033 | 21738 | SH |  | SOLE |  | 21738 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 4567028 | 9907 | SH |  | SOLE |  | 9907 | 0 | 0 |
| INVESCO LTD | SHS | G491BT108 |  | 655648 | 26993 | SH |  | SOLE |  | 26993 | 0 | 0 |
| IONQ INC | COM | 46222L108 |  | 1238652 | 42964 | SH |  | SOLE |  | 42964 | 0 | 0 |
| IRON MTN INC DEL | COM | 46284V101 |  | 1002811 | 9818 | SH |  | SOLE |  | 9818 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 5185571 | 58820 | SH |  | SOLE |  | 58820 | 0 | 0 |
| ISHARES S GSCI COMMODITY- | UNIT BEN INT | 46428R107 |  | 760649 | 23586 | SH |  | SOLE |  | 23586 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1245213 | 10017 | SH |  | SOLE |  | 10017 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 1483392 | 14943 | SH |  | SOLE |  | 14943 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 14983565 | 154263 | SH |  | SOLE |  | 154263 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 363649 | 5385 | SH |  | SOLE |  | 5385 | 0 | 0 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 501516 | 9427 | SH |  | SOLE |  | 9427 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 688589 | 13101 | SH |  | SOLE |  | 13101 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 251113 | 2304 | SH |  | SOLE |  | 2304 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH | 46435U853 |  | 297594 | 8078 | SH |  | SOLE |  | 8078 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1437715 | 2201 | SH |  | SOLE |  | 2201 | 0 | 0 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 406422 | 6066 | SH |  | SOLE |  | 6066 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 707328 | 2254 | SH |  | SOLE |  | 2254 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 6211004 | 25409 | SH |  | SOLE |  | 25409 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 16943055 | 57598 | SH |  | SOLE |  | 57598 | 0 | 0 |
| KADANT INC | COM | 48282T104 |  | 3872831 | 13247 | SH |  | SOLE |  | 13247 | 0 | 0 |
| KARMAN HLDGS INC | COMMON STOCK | 485924104 |  | 2246523 | 28064 | SH |  | SOLE |  | 28064 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 511773 | 5305 | SH |  | SOLE |  | 5305 | 0 | 0 |
| KITE RLTY GROUP TR | COM NEW | 49803T300 |  | 3719300 | 151499 | SH |  | SOLE |  | 151499 | 0 | 0 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 4854664 | 59457 | SH |  | SOLE |  | 59457 | 0 | 0 |
| KODIAK GAS SVCS INC | COM | 50012A108 |  | 2938512 | 50386 | SH |  | SOLE |  | 50386 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 11330390 | 53030 | SH |  | SOLE |  | 53030 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 656623 | 5184 | SH |  | SOLE |  | 5184 | 0 | 0 |
| LEMAITRE VASCULAR INC | COM | 525558201 |  | 3817457 | 34968 | SH |  | SOLE |  | 34968 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 785466 | 42481 | SH |  | SOLE |  | 42481 | 0 | 0 |
| LIGAND PHARMACEUTICALS INC | COM NEW | 53220K504 |  | 8829721 | 44226 | SH |  | SOLE |  | 44226 | 0 | 0 |
| LIMBACH HLDGS INC | COM | 53263P105 |  | 3095775 | 39664 | SH |  | SOLE |  | 39664 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 1174464 | 2369 | SH |  | SOLE |  | 2369 | 0 | 0 |
| MACOM TECH SOLUTIONS HLDGS I | COM | 55405Y100 |  | 6820880 | 30715 | SH |  | SOLE |  | 30715 | 0 | 0 |
| MAGNOLIA OIL  GAS CORP | CL A | 559663109 |  | 6425253 | 203524 | SH |  | SOLE |  | 203524 | 0 | 0 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 1092940 | 31735 | SH |  | SOLE |  | 31735 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 8925023 | 36551 | SH |  | SOLE |  | 36551 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 211472 | 2135 | SH |  | SOLE |  | 2135 | 0 | 0 |
| MARZETTI COMPANY | COM | 513847103 |  | 1951421 | 14107 | SH |  | SOLE |  | 14107 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 6726423 | 13462 | SH |  | SOLE |  | 13462 | 0 | 0 |
| MATADOR RES CO | COM | 576485205 |  | 6220892 | 98463 | SH |  | SOLE |  | 98463 | 0 | 0 |
| MATERION CORP | COM | 576690101 |  | 5035700 | 34813 | SH |  | SOLE |  | 34813 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 2801461 | 9014 | SH |  | SOLE |  | 9014 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 5795325 | 66882 | SH |  | SOLE |  | 66882 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 3224253 | 26804 | SH |  | SOLE |  | 26804 | 0 | 0 |
| MERIT MED SYS INC | COM | 589889104 |  | 2927044 | 42464 | SH |  | SOLE |  | 42464 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 17523770 | 30629 | SH |  | SOLE |  | 30629 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 1531609 | 21657 | SH |  | SOLE |  | 21657 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 35740657 | 96552 | SH |  | SOLE |  | 96552 | 0 | 0 |
| MODINE MFG CO | COM | 607828100 |  | 9971911 | 46015 | SH |  | SOLE |  | 46015 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 10419768 | 63315 | SH |  | SOLE |  | 63315 | 0 | 0 |
| MUELLER INDS INC | COM | 624756102 |  | 7220836 | 65170 | SH |  | SOLE |  | 65170 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 9935756 | 103336 | SH |  | SOLE |  | 103336 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 2572020 | 23760 | SH |  | SOLE |  | 23760 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 1613281 | 30543 | SH |  | SOLE |  | 30543 | 0 | 0 |
| NMI HLDGS INC | COM | 629209305 |  | 4318639 | 115133 | SH |  | SOLE |  | 115133 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 1458640 | 2138 | SH |  | SOLE |  | 2138 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 597717 | 4090 | SH |  | SOLE |  | 4090 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 55084414 | 315851 | SH |  | SOLE |  | 315851 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 2724267 | 13942 | SH |  | SOLE |  | 13942 | 0 | 0 |
| OLLIES BARGAIN OUTLET HLDGS | COM | 681116109 |  | 3177313 | 34521 | SH |  | SOLE |  | 34521 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 2688328 | 79022 | SH |  | SOLE |  | 79022 | 0 | 0 |
| ONESPAWORLD HOLDINGS LIMITED | COM | P73684113 |  | 5205335 | 226812 | SH |  | SOLE |  | 226812 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 2032030 | 13813 | SH |  | SOLE |  | 13813 | 0 | 0 |
| PACKAGING CORP AMER | COM | 695156109 |  | 4199834 | 19790 | SH |  | SOLE |  | 19790 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 3890170 | 26594 | SH |  | SOLE |  | 26594 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 5813524 | 36262 | SH |  | SOLE |  | 36262 | 0 | 0 |
| PALOMAR HLDGS INC | COM | 69753M105 |  | 5578499 | 46682 | SH |  | SOLE |  | 46682 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 974916 | 1089 | SH |  | SOLE |  | 1089 | 0 | 0 |
| PATHWARD FINANCIAL INC | COM | 59100U108 |  | 2705097 | 30316 | SH |  | SOLE |  | 30316 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 4813774 | 43340 | SH |  | SOLE |  | 43340 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 6027579 | 214657 | SH |  | SOLE |  | 214657 | 0 | 0 |
| PJT PARTNERS INC | COM CL A | 69343T107 |  | 4263276 | 30513 | SH |  | SOLE |  | 30513 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 5965554 | 28668 | SH |  | SOLE |  | 28668 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 7325270 | 191761 | SH |  | SOLE |  | 191761 | 0 | 0 |
| PRESTIGE CONSMR HEALTHCARE I | COM | 74112D101 |  | 2804301 | 47314 | SH |  | SOLE |  | 47314 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 7797023 | 53981 | SH |  | SOLE |  | 53981 | 0 | 0 |
| PROGYNY INC | COM | 74340E103 |  | 253087 | 14905 | SH |  | SOLE |  | 14905 | 0 | 0 |
| QUAKER HOUGHTON | COM | 747316107 |  | 2219245 | 17864 | SH |  | SOLE |  | 17864 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 1101338 | 8552 | SH |  | SOLE |  | 8552 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 8211143 | 14956 | SH |  | SOLE |  | 14956 | 0 | 0 |
| RAMBUS INC DEL | COM | 750917106 |  | 2416583 | 28090 | SH |  | SOLE |  | 28090 | 0 | 0 |
| RBB FD INC | FM ULTRASHORT TR | 74933W213 |  | 2801625 | 55943 | SH |  | SOLE |  | 55943 | 0 | 0 |
| RBB FD INC | US TRSRY 6 MNTH | 74933W460 |  | 510256 | 10199 | SH |  | SOLE |  | 10199 | 0 | 0 |
| RBB FD INC | FM OPPORTUNISTIC | 74933W445 |  | 842692 | 16427 | SH |  | SOLE |  | 16427 | 0 | 0 |
| RBB FD INC | F M 2YEAR INVES | 74933W429 |  | 245774 | 4874 | SH |  | SOLE |  | 4874 | 0 | 0 |
| RBB FD INC | US TREAS 3 MNTH | 74933W452 |  | 909405 | 18241 | SH |  | SOLE |  | 18241 | 0 | 0 |
| RED CAT HLDGS INC | COM | 75644T100 |  | 193431 | 14777 | SH |  | SOLE |  | 14777 | 0 | 0 |
| REGENCY CTRS CORP | COM | 758849103 |  | 513440 | 6786 | SH |  | SOLE |  | 6786 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 4162984 | 5388 | SH |  | SOLE |  | 5388 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 6892300 | 31816 | SH |  | SOLE |  | 31816 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 10774250 | 55854 | SH |  | SOLE |  | 55854 | 0 | 0 |
| SAIA INC | COM | 78709Y105 |  | 2565749 | 7304 | SH |  | SOLE |  | 7304 | 0 | 0 |
| SEACOAST BKG CORP FLA | COM NEW | 811707801 |  | 5426241 | 179143 | SH |  | SOLE |  | 179143 | 0 | 0 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 2808362 | 26519 | SH |  | SOLE |  | 26519 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 1293746 | 13911 | SH |  | SOLE |  | 13911 | 0 | 0 |
| SILICON MOTION TECHNOLOGY CO | SPONSORED ADR | 82706C108 |  | 5396545 | 48059 | SH |  | SOLE |  | 48059 | 0 | 0 |
| SITIME CORP | COM | 82982T106 |  | 8102947 | 23463 | SH |  | SOLE |  | 23463 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 4632089 | 90136 | SH |  | SOLE |  | 90136 | 0 | 0 |
| SNAP ON INC | COM | 833034101 |  | 1056261 | 2908 | SH |  | SOLE |  | 2908 | 0 | 0 |
| SOUTHSTATE BK CORP | COM | 84472E102 |  | 284962 | 3080 | SH |  | SOLE |  | 3080 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1822903 | 2803 | SH |  | SOLE |  | 2803 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG INTL | 78464A151 |  | 1248827 | 40366 | SH |  | SOLE |  | 40366 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 2242709 | 4625 | SH |  | SOLE |  | 4625 | 0 | 0 |
| STAG INDL INC | COM | 85254J102 |  | 2049578 | 56838 | SH |  | SOLE |  | 56838 | 0 | 0 |
| STANDEX INTL CORP | COM | 854231107 |  | 3815254 | 14970 | SH |  | SOLE |  | 14970 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 816980 | 9119 | SH |  | SOLE |  | 9119 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 2268540 | 12603 | SH |  | SOLE |  | 12603 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 8496467 | 20862 | SH |  | SOLE |  | 20862 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 1036527 | 8552 | SH |  | SOLE |  | 8552 | 0 | 0 |
| TARSUS PHARMACEUTICALS INC | COM | 87650L103 |  | 2798704 | 39896 | SH |  | SOLE |  | 39896 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 8320509 | 22382 | SH |  | SOLE |  | 22382 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 1249114 | 6434 | SH |  | SOLE |  | 6434 | 0 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 338570 | 1679 | SH |  | SOLE |  | 1679 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 842439 | 4011 | SH |  | SOLE |  | 4011 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 3707344 | 27166 | SH |  | SOLE |  | 27166 | 0 | 0 |
| TOPBUILD CORP | COM | 89055F103 |  | 227291 | 647 | SH |  | SOLE |  | 647 | 0 | 0 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 |  | 2914745 | 86568 | SH |  | SOLE |  | 86568 | 0 | 0 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 774280 | 3757 | SH |  | SOLE |  | 3757 | 0 | 0 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 2489425 | 25042 | SH |  | SOLE |  | 25042 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 6243384 | 97446 | SH |  | SOLE |  | 97446 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 3186233 | 32387 | SH |  | SOLE |  | 32387 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 6130104 | 8414 | SH |  | SOLE |  | 8414 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 6940921 | 25651 | SH |  | SOLE |  | 25651 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 1181552 | 4782 | SH |  | SOLE |  | 4782 | 0 | 0 |
| VALVOLINE INC | COM | 92047W101 |  | 2340491 | 69492 | SH |  | SOLE |  | 69492 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 996899 | 11239 | SH |  | SOLE |  | 11239 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 314909 | 527 | SH |  | SOLE |  | 527 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1401151 | 4879 | SH |  | SOLE |  | 4879 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 232059 | 3090 | SH |  | SOLE |  | 3090 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 4195253 | 77618 | SH |  | SOLE |  | 77618 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 703474 | 12018 | SH |  | SOLE |  | 12018 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 4269261 | 85045 | SH |  | SOLE |  | 85045 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 3577678 | 8012 | SH |  | SOLE |  | 8012 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 6166523 | 24609 | SH |  | SOLE |  | 24609 | 0 | 0 |
| VIANT TECHNOLOGY INC | COM CL A | 92557A101 |  | 211008 | 18840 | SH |  | SOLE |  | 18840 | 0 | 0 |
| VICTORY CAP HLDGS INC | COM CL A | 92645B103 |  | 5762698 | 88007 | SH |  | SOLE |  | 88007 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 8572735 | 28364 | SH |  | SOLE |  | 28364 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 2936703 | 82794 | SH |  | SOLE |  | 82794 | 0 | 0 |
| VSE CORP | COM | 918284100 |  | 3503784 | 19001 | SH |  | SOLE |  | 19001 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 3729149 | 13695 | SH |  | SOLE |  | 13695 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 7222905 | 58118 | SH |  | SOLE |  | 58118 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 3060573 | 13319 | SH |  | SOLE |  | 13319 | 0 | 0 |
| WEATHERFORD INTL PLC | ORD SHS | G48833118 |  | 235220 | 2487 | SH |  | SOLE |  | 2487 | 0 | 0 |
| WEBSTER FINL CORP | COM | 947890109 |  | 327385 | 4716 | SH |  | SOLE |  | 4716 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1294633 | 16262 | SH |  | SOLE |  | 16262 | 0 | 0 |
| WESBANCO INC | COM | 950810101 |  | 4735374 | 137297 | SH |  | SOLE |  | 137297 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 3121184 | 11539 | SH |  | SOLE |  | 11539 | 0 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 10633356 | 76532 | SH |  | SOLE |  | 76532 | 0 | 0 |

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