Emerald Advisers 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
APPLIED OPTOELECTRONICS INC	COM	03823U102	4,911	286,203	SH		SOLE		252,803	0	33,400
APPLE INC	COM	037833100	1,096	10,414	SH		SOLE		10,414	0	0
ABAXIS INC	COM	002567105	5,926	106,436	SH		SOLE		92,396	0	14,040
AMERISOURCEBERGEN CORP	COM	03073E105	5,716	55,117	SH		SOLE		680	0	54,437
ABC BANCORP	COM	03076K108	7,646	224,935	SH		SOLE		204,785	0	20,150
AMERICAN CAMPUS CMNTYS INC	COM	024835100	10,913	263,977	SH		SOLE		229,017	0	34,960
ACADIA HEALTHCAREPANY INC	COM	00404A109	27,870	446,213	SH		SOLE		373,682	0	72,531
ACTUA CORP	COM	005094107	6,180	539,737	SH		SOLE		23,252	0	516,485
ADAMAS PHARMACEUTICALS INC	COM	00548A106	13,085	462,051	SH		SOLE		398,230	0	63,821
ALLIANCE DATA SYS CORP	COM	018581108	3,184	11,513	SH		SOLE		10,984	0	529
AMERICAN EAGLE OUTFITTERS INC.	COM	02553E106	26,453	1,706,653	SH		SOLE		973,235	0	733,418
AMERICAN FARMLAND CO	COM	02589Y100	2,757	391,578	SH		SOLE		337,078	0	54,500
ATLAS FINANCIAL HOLDINGS INC	COM	G06207115	5,219	262,274	SH		SOLE		225,864	0	36,410
ARGO GROUP INTL HLDGS LTD	COM	G0464B107	1,291	21,567	SH		SOLE		21,567	0	0
APPLIED GENETIC TECHNOLOGIES	COM	03820J100	3,766	184,610	SH		SOLE		159,450	0	25,160
AIMMUNE THERAPEUTICS INC	COM	00900T107	4,988	270,358	SH		SOLE		235,825	0	34,533
AKEBIA THERAPEUTICS INC	COM	00972D105	554	42,910	SH		SOLE		42,910	0	0
AKORN INC	COM	009728106	4,533	121,495	SH		SOLE		116,348	0	5,147
ALNYLAM PHARMACEUTICALS INC	COM	02043Q107	2,159	22,935	SH		SOLE		21,981	0	954
ALARM.COM HOLDINGS INC	COM	011642105	10,386	622,670	SH		SOLE		539,660	0	83,010
APPLIED MICRO CIRCUITS CORP	COM	03822W406	94	14,693	SH		SOLE		14,693	0	0
AMETEK INC	COM	031100100	3,741	69,799	SH		SOLE		3,004	0	66,795
AFFILIATED MANAGERS GROUP INC	COM	008252108	3,342	20,920	SH		SOLE		19,996	0	924
AMAZON.COM, INC	COM	023135106	544	805	SH		SOLE		805	0	0
ANSYS INC	COM	03662Q105	12,250	132,429	SH		SOLE		5,152	0	127,277
APOGEE ENTERPRISES INC	COM	037598109	28,219	648,567	SH		SOLE		548,714	0	99,853
AIRGAS INC	COM	009363102	3,711	26,830	SH		SOLE		640	0	26,190
ARAMARK	COM	03852U106	6,596	204,530	SH		SOLE		5,300	0	199,230
ARRIS GROUP INC	COM	04270V106	946	30,934	SH		SOLE		30,934	0	0
ATRICURE INC	COM	04963C209	17,842	795,104	SH		SOLE		685,864	0	109,240
ACTIVISION BLIZZARD INC	COM	00507V109	2,154	55,632	SH		SOLE		52,870	0	2,762
AVAGO TECHNOLOGIES LTD	COM	Y0486S104	2,333	16,074	SH		SOLE		15,278	0	796
ARMSTRONG WORLD INDS INC	COM	04247X102	7,714	168,680	SH		SOLE		5,960	0	162,720
AXALTA COATING SYSTEMS LTD	COM	G0750C108	6,092	228,590	SH		SOLE		5,900	0	222,690
ACUITY BRANDS INC	COM	00508Y102	5,896	25,217	SH		SOLE		10,404	0	14,813
BRUNSWICK CORP	COM	117043109	2,295	45,429	SH		SOLE		43,477	0	1,952
BONANZA CREEK ENERGY INC	COM	097793103	248	47,103	SH		SOLE		47,103	0	0
BRANDYWINE RLTY TR SH BEN INT	COM	105368203	1,963	143,672	SH		SOLE		3,594	0	140,078
BIOTELEMETRY INC	COM	090672106	7,019	600,930	SH		SOLE		40,160	0	560,770
BANKUNITED INC	COM	06652K103	1,372	38,056	SH		SOLE		36,165	0	1,891
BLUEBIRD BIO INC	COM	09609G100	14,787	230,252	SH		SOLE		179,708	0	50,544
BRYN MAWR BK CORP	COM	117665109	5,394	187,813	SH		SOLE		9,225	0	178,588
BOFI HLDG INC	COM	05566U108	18,930	899,292	SH		SOLE		778,858	0	120,434
BON-TON STORES INC	COM	09776J101	1,417	674,690	SH		SOLE		27,769	0	646,921
BRIXMOR PROPERTY GROUP INC	COM	11120U105	1,821	70,541	SH		SOLE		67,042	0	3,499
BURNHAM HLDGS INC CL A	COM	122295108	1,034	62,200	SH		SOLE		1,070	0	61,130
BURLINGTON STORES INC	COM	122017106	16,017	373,356	SH		SOLE		323,306	0	50,050
CITIGROUP INC	COM	172967424	381	7,364	SH		SOLE		7,364	0	0
CAVIUM INC	COM	14964U108	15,840	241,057	SH		SOLE		208,828	0	32,229
CALGON CARBON CORP COM	COM	129603106	1,878	108,860	SH		SOLE		4,570	0	104,290
CCFNB BANCORP INC	COM	124880105	514	12,969	SH		SOLE		505	0	12,464
CROWN HOLDINGS INC	COM	228368106	13,143	259,233	SH		SOLE		48,575	0	210,658
CNB FINL CORP PA	COM	126128107	9,350	518,597	SH		SOLE		24,285	0	494,312
CEDAR SHOPPING CTRS INC	COM	150602209	1,087	153,601	SH		SOLE		153,601	0	0
CHEGG INC	COM	163092109	13,544	2,012,522	SH		SOLE		1,752,272	0	260,250
CHEMTURA CORPORATION	COM	163893209	773	28,330	SH		SOLE		830	0	27,500
CHUY`S HOLDINGS INC	COM	171604101	14,641	467,172	SH		SOLE		399,792	0	67,380
CIENA CORP	COM	171779309	14,628	706,995	SH		SOLE		612,377	0	94,618
CLIFFS NATURAL RESOURCES INC	COM	18683K101	110	69,358	SH		SOLE		69,358	0	0
CANTEL MEDICAL CORP	COM	138098108	15,703	252,696	SH		SOLE		217,966	0	34,730
CONNECTONE BANCORP INC	COM	20786W107	12,344	660,456	SH		SOLE		567,937	0	92,519
CYRUSONE INC	COM	23283R100	1,300	34,716	SH		SOLE		34,716	0	0
CEPHEID	COM	15670R107	16,370	448,118	SH		SOLE		393,271	0	54,847
CALIFORNIA REP BANCORP	COM	13056P100	217	7,339	SH		SOLE		7,339	0	0
CORNERSTONE ONDEMAND INC	COM	21925Y103	13,839	400,773	SH		SOLE		350,253	0	50,520
CARRIAGE SVCS INC	COM	143905107	1,248	51,799	SH		SOLE		51,799	0	0
CUBESMART	COM	229663109	12,187	398,000	SH		SOLE		17,190	0	380,810
CUSTOMERS BANCORP INC	COM	23204G100	19,925	731,997	SH		SOLE		299,902	0	432,095
CODORUS VALLEY BANCORP	COM	192025104	2,465	121,168	SH		SOLE		3,925	0	117,243
CITIZENS FINL SVCS INC	COM	174615104	2,131	43,492	SH		SOLE		1,115	0	42,377
CITIZENS & NORTHERN CORP	COM	172922106	3,068	146,075	SH		SOLE		3,845	0	142,230
DUCOMMUN INCORPORATED	COM	264147109	470	28,961	SH		SOLE		28,961	0	0
DOLLAR GENERAL	COM	256677105	4,169	58,013	SH		SOLE		55,150	0	2,863
DONEGAL GROUP INC J CL A	COM	257701201	1,984	140,913	SH		SOLE		5,590	0	135,323
DISNEY WALT PRODTNS	COM	254687106	599	5,699	SH		SOLE		5,699	0	0
DICKS SPORTING GOODS INC	COM	253393102	3,504	99,134	SH		SOLE		2,565	0	96,569
ELECTRONIC ARTS INC	COM	285512109	1,299	18,897	SH		SOLE		17,959	0	938
CHANNELADVISOR CORP	COM	159179100	9,571	691,047	SH		SOLE		604,824	0	86,223
EDUCATION REALTY TRUST INC	COM	28140H203	8,815	232,709	SH		SOLE		201,889	0	30,820
EAGLE BANCORP INC MD	COM	268948106	674	13,347	SH		SOLE		13,347	0	0
8X8 INC NEW	COM	282914100	21,870	1,910,019	SH		SOLE		1,613,202	0	296,817
EGALET CORP	COM	28226B104	1,977	179,444	SH		SOLE		6,806	0	172,638
EMPLOYERS HOLDINGS INC	COM	292218104	1,086	39,789	SH		SOLE		39,789	0	0
EMCOR GROUP INC	COM	29084Q100	945	19,670	SH		SOLE		19,670	0	0
ENERSYS	COM	29275Y102	3,303	59,050	SH		SOLE		13,255	0	45,795
EPAM SYSTEMS INC	COM	29414B104	47,724	607,026	SH		SOLE		355,092	0	251,934
ERIE INDTY CO CL A	COM	29530P102	3,264	34,124	SH		SOLE		1,305	0	32,819
ENVIRONMENTAL TECTONICS CORP	COM	294092101	83	82,764	SH		SOLE		0	0	82,764
ENTERCOMMUNICATIONS CORP	COM	293639100	7,332	652,892	SH		SOLE		24,520	0	628,372
EVERYDAY HEALTH INC	COM	300415106	2,655	440,971	SH		SOLE		382,692	0	58,279
EVERI HOLDINGS INC	COM	30034T103	1,064	242,363	SH		SOLE		242,363	0	0
EXELON CORPORATION	COM	30161N101	554	19,957	SH		SOLE		18,967	0	990
DIAMONDBACK ENERGY INC	COM	25278X109	1,603	23,960	SH		SOLE		22,994	0	966
FARO TECHNOLOGIES INC	COM	311642102	3,282	111,183	SH		SOLE		96,180	0	15,003
FACEBOOK INC	COM	30303M102	1,224	11,697	SH		SOLE		11,697	0	0
FCB FINANCIAL HOLDINGS INC	COM	30255G103	17,660	493,438	SH		SOLE		429,328	0	64,110
FIBROCELL SCIENCE INC	COM	315721209	1,479	325,053	SH		SOLE		32,008	0	293,045
1ST FIN BANCORP	COM	320209109	580	32,117	SH		SOLE		32,117	0	0
FLUSHING FINL CORP	COM	343873105	832	38,469	SH		SOLE		38,469	0	0
FEDERATED INVESTORS INC	COM	314211103	4,314	150,560	SH		SOLE		5,420	0	145,140
FITBIT INC	COM	33812L102	3,690	124,721	SH		SOLE		119,448	0	5,273
FIVE BELOW	COM	33829M101	22,526	701,729	SH		SOLE		433,995	0	267,734
FOOT LOCKER INC	COM	344849104	2,819	43,304	SH		SOLE		41,401	0	1,903
FMC CORP	COM	302491303	1,248	31,900	SH		SOLE		820	0	31,080
F N B CORP PA	COM	302520101	787	59,025	SH		SOLE		2,371	0	56,654
FIRST NBC BANK HOLDING CO	COM	32115D106	14,799	395,795	SH		SOLE		343,395	0	52,400
AMICUS THERAPEUTICS INC	COM	03152W109	16,825	1,734,566	SH		SOLE		1,512,760	0	221,806
FRANKLIN FINANCIAL SERVICES CORPORATION	COM	353525108	1,064	45,281	SH		SOLE		1,616	0	43,665
1ST MERCHANTS	COM	320817109	1,060	41,701	SH		SOLE		41,701	0	0
FRESHPET INC	COM	358039105	4,933	581,087	SH		SOLE		17,638	0	563,449
FORTINET INC	COM	34959E109	2,105	67,536	SH		SOLE		64,689	0	2,847
GIGAMON INC	COM	37518B102	15,592	586,823	SH		SOLE		501,072	0	85,751
GAMING AND LEISURE PROPERTIES INC.	COM	36467J108	2,694	96,914	SH		SOLE		3,642	0	93,272
GLU MOBILE INC	COM	379890106	2,323	955,984	SH		SOLE		832,885	0	123,099
GNC HOLDINGS INC	COM	36191G107	1,857	59,861	SH		SOLE		3,752	0	56,109
GENERAC HOLDINGS INC	COM	368736104	717	24,071	SH		SOLE		24,071	0	0
ALPHABET INC CL C	COM	02079K107	603	794	SH		SOLE		794	0	0
ALPHABET INC CLA A	COM	02079K305	685	880	SH		SOLE		880	0	0
GSV CAP CORP	COM	36191J101	7,040	751,291	SH		SOLE		622,374	0	128,917
GRAY TELEVISION INC	COM	389375106	1,117	68,538	SH		SOLE		68,538	0	0
GTT COMMUNICATIONS INC	COM	362393100	16,521	968,433	SH		SOLE		834,981	0	133,452
GREAT WESTERN BANCORP INC	COM	391416104	959	33,059	SH		SOLE		33,059	0	0
GUIDEWIRE SOFTWARE INC	COM	40171V100	16,675	277,180	SH		SOLE		239,380	0	37,800
GREAT PLAINS ENERGY INC	COM	391164100	682	24,967	SH		SOLE		24,967	0	0
HAIN CELESTIAL GROUP INC	COM	405217100	1,486	36,783	SH		SOLE		35,071	0	1,712
HARMAN INTERNATIONAL	COM	413086109	2,968	31,503	SH		SOLE		30,077	0	1,426
HEALTHCARE SVCS GROUP INC	COM	421906108	3,541	101,547	SH		SOLE		3,987	0	97,560
HFF INC CLASS A	COM	40418F108	3,905	125,670	SH		SOLE		5,370	0	120,300
HILTON WORLDWIDE HOLDINGS INC	COM	43300A104	2,471	115,480	SH		SOLE		109,751	0	5,729
HERSHA HOSPITALITY TR PRIORITY A SHS	COM	427825500	3,991	183,420	SH		SOLE		7,432	0	175,988
HEADWATERS INC	COM	42210P102	9,271	549,569	SH		SOLE		482,369	0	67,200
MARINEMAX INC	COM	567908108	11,286	612,706	SH		SOLE		531,986	0	80,720
INSTALLED BUILDING PRODUCTS	COM	45780R101	13,816	556,423	SH		SOLE		481,113	0	75,310
IntercontinentalExchange Group, Inc	COM	45866F104	1,074	4,192	SH		SOLE		4,192	0	0
INTERCEPT PHARMACEUTICAL	COM	45845P108	7,280	48,742	SH		SOLE		31,871	0	16,871
INTERVAL LEISURE GROUP	COM	46113M108	746	47,771	SH		SOLE		47,771	0	0
IMAX CORP	COM	45245E109	3,746	105,391	SH		SOLE		100,763	0	4,628
IMPRIVATA INC	COM	45323J103	6,988	618,424	SH		SOLE		534,074	0	84,350
IMPERVA INC	COM	45321L100	26,782	423,031	SH		SOLE		330,867	0	92,164
INOVIO PHARMACEUTICALS INC	COM	45773H201	2,813	418,646	SH		SOLE		15,296	0	403,350
INOVALON HOLDIN	COM	45781D101	2,206	129,769	SH		SOLE		112,279	0	17,490
INSMED INC	COM	457669307	11,079	610,431	SH		SOLE		525,811	0	84,620
INTUIT INC	COM	461202103	2,579	26,729	SH		SOLE		25,406	0	1,323
IPG PHOTONICS CORP	COM	44980X109	16,600	186,177	SH		SOLE		153,176	0	33,001
INPHI CORP	COM	45772F107	7,884	291,774	SH		SOLE		251,974	0	39,800
IMPAX LABORATORIES INC	COM	45256B101	11,360	265,666	SH		SOLE		229,790	0	35,876
INDEPENDENCE REALTY TRUST INC	COM	45378A106	3,201	426,272	SH		SOLE		12,600	0	413,672
JACK IN THE BOX INC	COM	466367109	28,988	377,895	SH		SOLE		300,740	0	77,155
JARDEN CORP	COM	471109108	1,351	23,656	SH		SOLE		22,505	0	1,151
JAKKS PACIFIC	COM	47012E106	80	10,057	SH		SOLE		10,057	0	0
JETBLUE AIRWAYS CORP	COM	477143101	1,444	63,739	SH		SOLE		61,022	0	2,717
JONES SODA CO	COM	48023P106	25	65,640	SH		SOLE		65,640	0	0
KFORCE INC	COM	493732101	21,284	841,930	SH		SOLE		724,125	0	117,805
KORN FERRY INTERNATIONAL	COM	500643200	22,365	674,049	SH		SOLE		592,194	0	81,855
KNOLL INC	COM	498904200	12,785	680,055	SH		SOLE		333,238	0	346,817
COCA COLA CO	COM	191216100	203	4,733	SH		SOLE		4,733	0	0
KONA GRILL INC	COM	50047H201	280	17,650	SH		SOLE		17,650	0	0
K2M GROUP HOLDINGS INC	COM	48273J107	15,653	792,955	SH		SOLE		684,524	0	108,431
LAZARD LTD-CL A	COM	G54050102	3,137	69,689	SH		SOLE		66,451	0	3,238
L BRANDS INC	COM	501797104	1,710	17,850	SH		SOLE		16,964	0	886
LIONS GATE ENTERTAINMENT CORP	COM	535919203	2,963	91,487	SH		SOLE		87,614	0	3,873
LINKEDIN CORP	COM	53578A108	1,901	8,447	SH		SOLE		8,028	0	419
LIVE OAK BANCSHARES INC	COM	53803X105	8,458	595,634	SH		SOLE		527,734	0	67,900
LIBERTY PPTY TR SH BEN INT	COM	531172104	7,350	236,705	SH		SOLE		9,365	0	227,340
LAM RESEARCH	COM	512807108	841	10,589	SH		SOLE		10,064	0	525
SOUTHWEST AIR	COM	844741108	5,808	134,884	SH		SOLE		129,156	0	5,728
MID-AMER APT CMNTYS INC	COM	59522J103	2,854	31,426	SH		SOLE		29,867	0	1,559
MASCO CORP	COM	574599106	2,345	82,869	SH		SOLE		78,809	0	4,060
MATTHEWS INTL CORP CL A	COM	577128101	24,601	460,270	SH		SOLE		235,216	0	225,054
MALIBU BOATS INC-CLASS A	COM	56117J100	5,918	361,524	SH		SOLE		317,434	0	44,090
MILACRON HOLDINGS CORP	COM	59870L106	1,841	147,180	SH		SOLE		124,764	0	22,416
MDC PARTNERS INC-A	COM	552697104	585	26,923	SH		SOLE		26,923	0	0
MEDIVATION INC	COM	58501N101	1,531	31,672	SH		SOLE		30,320	0	1,352
MERCER INTERNATIONAL INC	COM	588056101	739	81,696	SH		SOLE		81,696	0	0
MACROGENICS INC	COM	556099109	13,718	442,956	SH		SOLE		383,496	0	59,460
MCGRAW HILL FINANCIAL INC	COM	580645109	3,190	32,364	SH		SOLE		30,760	0	1,604
MAGNUM HUNTER RES CORP DEL	COM	55973B102	1	80,377	SH		SOLE		80,377	0	0
MIDDLEBY CORP	COM	596278101	5,109	47,364	SH		SOLE		34,013	0	13,351
MEAD JOHNSON NUTRITION	COM	582839106	921	11,660	SH		SOLE		11,082	0	578
MARTIN MARIETTA MATERIALS INC	COM	573284106	1,713	12,540	SH		SOLE		11,994	0	546
MALVERN BANCORP INC	COM	561409103	399	22,733	SH		SOLE		1,660	0	21,073
MARCUS & MILLICHAP INC	COM	566324109	10,274	352,588	SH		SOLE		248,920	0	103,668
MONSTER BEVERAGE CORPORATION	COM	61174X109	3,787	25,424	SH		SOLE		24,276	0	1,148
MODEL N INC	COM	607525102	8,068	722,949	SH		SOLE		619,297	0	103,652
MID PENN BANCORP INC	COM	59540G107	583	36,205	SH		SOLE		938	0	35,267
MARINUS PHARMACEUTICALS INC	COM	56854Q101	1,476	193,228	SH		SOLE		23,600	0	169,628
MICROSEMI CORP	COM	595137100	19,965	612,610	SH		SOLE		501,507	0	111,103
MICROSOFT CORP	COM	594918104	903	16,276	SH		SOLE		16,276	0	0
MICROSTRATEGY INC	COM	594972408	33,148	184,883	SH		SOLE		148,197	0	36,686
MA-COM TECHNOLOGY SOLUTIONS	COM	55405Y100	8,706	212,921	SH		SOLE		185,141	0	27,780
MASTEC INC	COM	576323109	620	35,670	SH		SOLE		35,670	0	0
MYLAN NV	COM	N59465109	1,871	34,599	SH		SOLE		889	0	33,710
NEUROCRINE BIOSCIENCES, INC	COM	64125C109	17,152	303,207	SH		SOLE		262,687	0	40,520
NEOS THERAPEUTICS INC	COM	64052L106	5,425	378,874	SH		SOLE		321,644	0	57,230
NEWFIELD EXPLORATION CO	COM	651290108	922	28,310	SH		SOLE		26,900	0	1,410
NICE SYSTEMS LTD ADR	COM	653656108	571	9,969	SH		SOLE		9,969	0	0
SERVICENOW INC	COM	81762P102	2,409	27,832	SH		SOLE		26,584	0	1,248
NUTRI SYS INC NEW	COM	67069D108	3,840	177,467	SH		SOLE		6,358	0	171,109
NORTHUMBERLAND BANCORP	COM	667056105	227	8,938	SH		SOLE		0	0	8,938
NORTHWEST BANCSHARES INC MD	COM	667340103	2,659	198,567	SH		SOLE		3,760	0	194,807
NEXSTAR BROADCASTING GROUP ICL A	COM	65336K103	1,750	29,810	SH		SOLE		25,720	0	4,090
OASIS PETE INC NEW	COM	674215108	1,080	146,605	SH		SOLE		139,330	0	7,275
CORP OFFICE PRO	COM	22002T108	910	41,681	SH		SOLE		41,681	0	0
OLLIE`S BARGAIN OUTLET HOLDINGS	COM	681116109	9,189	540,232	SH		SOLE		19,240	0	520,992
ON SEMICONDUCTOR CORPORATION	COM	682189105	1,448	147,785	SH		SOLE		140,452	0	7,333
SPARK THERAPEUTICS INC	COM	84652J103	4,954	109,340	SH		SOLE		4,330	0	105,010
OPUS BANK	COM	684000102	25,958	702,132	SH		SOLE		605,776	0	96,356
ORBCOMM INC	COM	68555P100	214	29,542	SH		SOLE		29,542	0	0
ORRSTOWN FINL SVCS INC	COM	687380105	4,557	255,445	SH		SOLE		13,037	0	242,408
ORASURE TECHNOLOGIES INC	COM	68554V108	3,681	571,560	SH		SOLE		14,350	0	557,210
OVASCIENCE INC	COM	69014Q101	109	11,148	SH		SOLE		11,148	0	0
BANK OF THE OZARKS INC	COM	063904106	31,364	634,126	SH		SOLE		546,674	0	87,452
PACWEST BANCORP DEL	COM	695263103	1,671	38,773	SH		SOLE		36,870	0	1,903
PALO ALTO NETWORKS, INC	COM	697435105	3,461	19,647	SH		SOLE		18,788	0	859
PENNSYLVANIA REAL ESTATE INVSHS BEN INT	COM	709102107	4,521	206,718	SH		SOLE		7,792	0	198,926
PENN NATL GAMING INC	COM	707569109	14,026	875,543	SH		SOLE		464,960	0	410,583
PEOPLES FINANCIAL SERVICES CORP	COM	711040105	3,218	84,518	SH		SOLE		3,318	0	81,200
PROOFPOINT INC	COM	743424103	26,290	404,395	SH		SOLE		324,510	0	79,885
PROVIDENT FINL SVCS INC	COM	74386T105	938	46,549	SH		SOLE		46,549	0	0
PGT, INC.	COM	69336V101	8,817	774,122	SH		SOLE		672,322	0	101,800
PIERIS PHARMACEUTICALS INC	COM	720795103	129	56,178	SH		SOLE		56,178	0	0
DAVE & BUSTER`S ENTERTAINMENT INC.	COM	238337109	20,576	492,948	SH		SOLE		427,401	0	65,547
PLANET FITNESS INC	COM	72703H101	8,339	533,529	SH		SOLE		464,059	0	69,470
Plug Power, Inc	COM	72919P202	21	10,015	SH		SOLE		10,015	0	0
PINNACLE FINL PARTNERS INC	COM	72346Q104	9,797	190,756	SH		SOLE		162,206	0	28,550
PACIFIC PREMIER BANCORP	COM	69478X105	10,204	480,187	SH		SOLE		413,463	0	66,724
PPG INDUSTRIES INC	COM	693506107	2,751	27,843	SH		SOLE		26,570	0	1,273
PERFICIENT INC	COM	71375U101	852	49,754	SH		SOLE		49,754	0	0
PARTY CITY HOLDCO INC	COM	702149105	522	40,469	SH		SOLE		40,469	0	0
PAREXEL INTL CORP	COM	699462107	3,354	49,240	SH		SOLE		46,590	0	2,650
PTC THERAPEUTICS INC	COM	69366J200	4,456	137,524	SH		SOLE		121,807	0	15,717
PORTOLA PHARMACEUTICALS INC	COM	737010108	11,090	215,544	SH		SOLE		186,003	0	29,541
PRIVATEBANCORP INC	COM	742962103	19,418	473,367	SH		SOLE		412,407	0	60,960
PENNS WOODS BANCORP INC	COM	708430103	6,085	143,323	SH		SOLE		5,881	0	137,442
PIXELWORKS INC	COM	72581M305	110	46,130	SH		SOLE		46,130	0	0
PAYPAL HOLDINGS INC	COM	70450Y103	2,288	63,191	SH		SOLE		60,600	0	2,591
QLIK TECHNOLOGIES INC	COM	74733T105	30,083	950,174	SH		SOLE		582,477	0	367,697
RITE AID CORP	COM	767754104	1,098	140,000	SH		SOLE		3,634	0	136,366
REGAL BELOIT CORPORATION	COM	758750103	491	8,387	SH		SOLE		8,387	0	0
ROYAL BANCSHARES OF PENNSYLVANIA INC	COM	780081105	2,501	1,196,874	SH		SOLE		51,520	0	1,145,354
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	2,380	23,520	SH		SOLE		22,555	0	965
RADIAN GROUP INC	COM	750236101	3,814	284,810	SH		SOLE		10,980	0	273,830
Real Industry Inc.	COM	75601W104	684	85,225	SH		SOLE		85,225	0	0
RENTRAK CORP	COM	760174102	18,655	392,487	SH		SOLE		339,242	0	53,245
REX ENERGY CORPORATION	COM	761565100	1,263	1,203,313	SH		SOLE		708,231	0	495,082
RICE ENERGY	COM	762760106	3,292	302,020	SH		SOLE		19,420	0	282,600
RELYPSA INC	COM	759531106	13,932	491,589	SH		SOLE		427,579	0	64,010
ROSS STORES INC	COM	778296103	2,337	43,429	SH		SOLE		41,273	0	2,156
RAMCO-GERSHENSON PROPERTI	COM	751452202	941	56,677	SH		SOLE		56,677	0	0
RED ROBIN GOURMET BURGERS INC	COM	75689M101	20,212	327,368	SH		SOLE		270,192	0	57,176
RUDOLPH TECHNOLOGIES INC	COM	781270103	596	41,924	SH		SOLE		41,924	0	0
DIVERSIFIED RSTRNT HLDGS INC	COM	25532M105	864	384,197	SH		SOLE		384,197	0	0
SPIRIT AIRLS INC	COM	848577102	15,682	393,524	SH		SOLE		327,170	0	66,354
SBA COMMUNICATIONS CORP CL A	COM	78388J106	3,103	29,537	SH		SOLE		28,069	0	1,468
SIGNATURE BK NEW YORK N Y	COM	82669G104	1,645	10,725	SH		SOLE		10,213	0	512
STARBUCKS CORP	COM	855244109	601	10,016	SH		SOLE		10,016	0	0
SEI INVESTMENTS COMPANY	COM	784117103	8,590	163,923	SH		SOLE		49,711	0	114,212
SELECT MEDICAL HOLDINGS CORP	COM	81619Q105	3,063	257,138	SH		SOLE		5,671	0	251,467
SAFEGUARD SCIENTIFICS INC	COM	786449207	6,629	456,841	SH		SOLE		16,181	0	440,660
MADDEN STEVEN LTD	COM	556269108	13,858	458,556	SH		SOLE		414,716	0	43,840
SIGNET JEWELERS LTD	COM	G81276100	2,204	17,817	SH		SOLE		17,032	0	785
SIGMA DESIGNS INC	COM	826565103	4,474	707,849	SH		SOLE		616,719	0	91,130
SVB FINL GROUP	COM	78486Q101	2,787	23,437	SH		SOLE		22,274	0	1,163
SM ENERGY CO	COM	78454L100	422	21,479	SH		SOLE		20,412	0	1,067
SUPER MICRO COMPUTER INC	COM	86800U104	10,845	442,475	SH		SOLE		379,205	0	63,270
SNAP-ON INC	COM	833034101	2,617	15,267	SH		SOLE		14,509	0	758
SYNCHRONOSS TECHNOLOGIES INC	COM	87157B103	15,649	444,183	SH		SOLE		385,773	0	58,410
SEQUENTIAL BRANDS GROUP INC	COM	81734P107	8,909	1,126,322	SH		SOLE		915,884	0	210,438
STONERIDGE INC	COM	86183P102	1,025	69,281	SH		SOLE		69,281	0	0
S & T BANCORP INC	COM	783859101	6,305	204,574	SH		SOLE		9,029	0	195,545
STEEL DYNAMICS INC	COM	858119100	407	22,750	SH		SOLE		22,750	0	0
CONSTELLATION BRANDS INC	COM	21036P108	307	2,155	SH		SOLE		2,155	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	3,448	44,876	SH		SOLE		42,887	0	1,989
SYNAPTICS INC	COM	87157D109	7,620	94,849	SH		SOLE		84,984	0	9,865
SYNERGY RESOURCES CORPORATION	COM	87164P103	7,734	907,709	SH		SOLE		783,319	0	124,390
TELADOC INC	COM	87918A105	3,825	212,993	SH		SOLE		184,483	0	28,510
TELEFLEX INC	COM	879369106	7,082	53,875	SH		SOLE		2,017	0	51,858
INTERFACE INC	COM	458665304	12,993	678,838	SH		SOLE		587,448	0	91,390
TILLY`S INC-CLASS A SHRS	COM	886885102	4,738	714,585	SH		SOLE		616,553	0	98,032
TENNANT CO	COM	880345103	10,848	192,812	SH		SOLE		166,712	0	26,100
TOLL BROS INC	COM	889478103	6,878	206,535	SH		SOLE		7,785	0	198,750
TUTOR PERINI CORPORATION	COM	901109108	12,912	771,320	SH		SOLE		667,510	0	103,810
LENDINGTREE INC	COM	52603B107	25,253	282,856	SH		SOLE		244,466	0	38,390
TREX INC	COM	89531P105	24,970	656,410	SH		SOLE		534,204	0	122,206
TRISTATE CAPITAL HOLDINGS	COM	89678F100	5,454	389,877	SH		SOLE		9,784	0	380,093
TETRA TECHNOLOGIES	COM	88162F105	200	26,655	SH		SOLE		26,655	0	0
TILE SHOP HLDGS INC	COM	88677Q109	8,551	521,374	SH		SOLE		456,884	0	64,490
UNDER ARMOUR INC	COM	904311107	2,610	32,377	SH		SOLE		30,887	0	1,490
UNIVERSAL HEALTH SVCS INC CL B	COM	913903100	4,998	41,827	SH		SOLE		1,745	0	40,082
ULTA SALON COSMETICS & FRAGR	COM	90384S303	1,514	8,182	SH		SOLE		7,776	0	406
ULTIMATE SOFTWARE GROUP INC	COM	90385D107	4,876	24,939	SH		SOLE		849	0	24,090
URBAN OUTFITTERS INC	COM	917047102	3,899	171,375	SH		SOLE		6,380	0	164,995
UNIVEST CORP PA	COM	915271100	1,369	65,631	SH		SOLE		3,759	0	61,872
VIRGIN AMERICA INC	COM	92765X208	10,387	288,438	SH		SOLE		249,486	0	38,952
VEEVA SYSTEMS INC	COM	922475108	30,914	1,071,542	SH		SOLE		942,547	0	128,995
VONAGE HOLDINGS CORP	COM	92886T201	27,264	4,749,822	SH		SOLE		4,139,442	0	610,380
VIRTU FINANCIAL INC CLASS A	COM	928254101	14,000	618,365	SH		SOLE		535,535	0	82,830
VULCAN MATERIALS COMPANY	COM	929160109	1,804	18,992	SH		SOLE		18,047	0	945
VIAD CORP	COM	92552R406	789	27,949	SH		SOLE		27,949	0	0
VWR CORP	COM	91843L103	3,317	117,150	SH		SOLE		5,440	0	111,710
WABTEC CORPORATION	COM	929740108	16,954	238,387	SH		SOLE		61,710	0	176,677
WELLCARE HEALTH PLANS INC	COM	94946T106	29,040	371,308	SH		SOLE		324,773	0	46,535
WALKER & DUNLOP INC	COM	93148P102	24,258	841,983	SH		SOLE		721,053	0	120,930
WISDOMTREE INVTS INC	COM	97717P104	212	13,518	SH		SOLE		13,518	0	0
WHIRLPOOL CORPORATION	COM	963320106	3,962	26,977	SH		SOLE		25,774	0	1,203
WILSHIRE BANCORP INC	COM	97186T108	558	48,328	SH		SOLE		48,328	0	0
WHITING PETROLEUM CORPORATION	COM	966387102	713	75,530	SH		SOLE		71,780	0	3,750
WEIS MARKETS INC	COM	948849104	2,719	61,371	SH		SOLE		2,426	0	58,945
WEST PHARMACEUTICAL SVCS INC	COM	955306105	5,596	92,920	SH		SOLE		2,700	0	90,220
WEST CORP	COM	952355204	874	40,501	SH		SOLE		40,501	0	0
AQUA AMERICA INC	COM	03836W103	7,677	257,601	SH		SOLE		11,160	0	246,441
WHITEWAVE FOODS COMPANY	COM	966244105	1,724	44,297	SH		SOLE		42,099	0	2,198
XCERRA CORP	COM	98400J108	745	123,211	SH		SOLE		123,211	0	0
INTREXON CORP	COM	46122T102	13,253	439,578	SH		SOLE		331,555	0	108,023
EXONE CO	COM	302104104	363	36,113	SH		SOLE		1,490	0	34,623
DENTSPLY INTL INC	COM	249030107	6,280	103,200	SH		SOLE		3,340	0	99,860
IXIA	COM	45071R109	158	12,731	SH		SOLE		12,731	0	0
YORK WATER CO	COM	987184108	775	31,067	SH		SOLE		860	0	30,207
ZIOPHARM ONCOLOGY INC	COM	98973P101	4,810	578,805	SH		SOLE		505,292	0	73,513
ZYNERBA PHARMACEUTICALS INC	COM	98986X109	2,387	237,070	SH		SOLE		7,770	0	229,300