UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
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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, Inc.
Address: 1857 William Penn Way
Suite 203
Lancaster, PA 17601
Form 13F File Number: 28-561A
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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: Scott Lambert Rehr
Title: Senior Vice President
Phone: 717-396-1116
Signature, Place, and Date of Signing:
/s/ Scott Lambert Rehr Lancaster, Pennsylvania February 10, 1999
- ---------------------- ----------------------- -----------------
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 reported are 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).)
List of Other Managers Reporting for this Manager:
None.
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 216
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Form 13F Information Table Value Total: $943,057
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(thousands)
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
<PAGE>
<TABLE>
<CAPTION>
EMERALD ADVISERS PAGE 1
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
4 KIDS ENTMT INC COM COM 350865101 10970 391799 SH SOLE 314892 0 76907
8X8 INC COM COM 282912104 995 194100 SH SOLE 134100 0 60000
ABGENIX INC COM COM 00339B107 4575 34530 SH SOLE 30495 0 4035
ADAPTIVE BROADBAND CORP COM COM 00650M104 251 3400 SH SOLE 3400 0 0
ADELPHIA BUSINESS SOLUTIONS CL COM 006847107 18604 387591 SH SOLE 279236 0 108355
ADELPHIA COMMUNICATIONS CORPCL COM 006848105 3084 47000 SH SOLE 15000 0 32000
AERIAL COMMUNICATIONS INC COM COM 007655103 2011 33043 SH SOLE 25068 0 7975
ALLAIRE CORP COM COM 016714107 4813 34565 SH SOLE 30225 0 4340
ALLEN ORGAN CO COM 017753104 849 22329 SH SOLE 9864 0 12465
AMERICAN EAGLE OUTFITTERS INC. COM 02553E106 5289 117544 SH SOLE 68344 0 49200
AMERISOURCE HEALTH CORP CL A COM 03071P102 608 40000 SH SOLE 0 0 40000
AMERITRADE HLDG CORP CL A COM 03072H109 217 10000 SH SOLE 10000 0 0
AMKOR TECHNOLOGY INC COM COM 031652100 9753 345225 SH SOLE 239425 0 105800
ANSOFT CORP COM COM 036384105 1155 192500 SH SOLE 98700 0 93800
ANSYS INC COM COM 03662Q105 242 22000 SH SOLE 0 0 22000
APPLE COMPUTER INC COM 037833100 514 5000 SH SOLE 5000 0 0
APPLIED MICRO CIRCUITS CORP CD COM 03822W109 10127 79584 SH SOLE 73059 0 6525
ARNOLD INDS INC COM COM 042595108 880 62550 SH SOLE 20050 0 42500
ART TECHNOLOGY GROUP INC OC-CO COM 04289L107 1217 9500 SH SOLE 9500 0 0
ARTHROCARE CORP COM COM 043136100 3948 64721 SH SOLE 55296 0 9425
ASHTON TECHNOLOGY GROUP INC CO COM 045084100 642 99800 SH SOLE 53400 0 46400
ASPECT DEV INC COM COM 045234101 301 4390 SH SOLE 4390 0 0
ASSOCIATED GROUP INC CL A COM 045651106 1925 21100 SH SOLE 0 0 21100
ATLANTIC COAST AIRLS HLDGS ICO COM 048396105 906 38164 SH SOLE 34974 0 3190
AWARE INC MASS COM COM 05453N100 556 15275 SH SOLE 11845 0 3430
BANKFIRST CORP COM COM 066442104 86 10000 SH SOLE 10000 0 0
BANKNORTH GROUP INC DEL COM COM 06646L100 201 7500 SH SOLE 7500 0 0
BERGER HLDGS LTD COM NEW COM 084037407 1306 503660 SH SOLE 383775 0 119885
BLUESTONE SOFTWARE COM 09623P102 8507 73976 SH SOLE 61411 0 12565
BOYDS COLLECTION LTD COM 103354106 777 112000 SH SOLE 30000 0 82000
BRANDYWINE RLTY TR SH BEN INT COM 105368203 1600 97700 SH SOLE 46700 0 51000
BRAUN CONSULTING INC COM COM 105651103 5307 74220 SH SOLE 66935 0 7285
BRIO TECHNOLOGY INC COM COM 109704106 4396 104660 SH SOLE 84690 0 19970
BROADVISION INC COM COM 111412102 9281 54573 SH SOLE 51243 0 3330
BROOKLINE BANCORP INC COM COM 113739106 98 10000 SH SOLE 10000 0 0
BROOKSTONE INC COM COM 114537103 3099 176465 SH SOLE 138465 0 38000
BT FINANCIAL CORP COM COM 055763106 2130 96813 SH SOLE 64124 0 32690
BUCKEYE PARTNERS L P COM 118230101 858 33000 SH SOLE 0 0 33000
C BRDG INTERNET SOLUTIONS INCO COM 12500B105 365 7500 SH SOLE 7500 0 0
C COR ELECTRS INC COM COM 125010108 15926 415676 SH SOLE 298116 0 117560
CABLE DESIGN TECHN CORP COM COM 126924109 2877 125070 SH SOLE 65070 0 60000
CELESTICA INC SUB VTG SHS COM 15101Q108 233 4200 SH SOLE 4200 0 0
CELGENE CORP COM COM 151020104 25048 357835 SH SOLE 292417 0 65418
CEPHALON INC COM COM 156708109 8313 240520 SH SOLE 141520 0 99000
CHARLOTTE RUSSE HOLDING INC COM 161048103 4746 226000 SH SOLE 198400 0 27600
CHARMING SHOPPES INC COM COM 161133103 6313 952855 SH SOLE 681505 0 271350
CHICOS FAS INC COM COM 168615102 1938 103000 SH SOLE 103000 0 0
CHILDRENS PL RETAIL STORES ICO COM 168905107 1328 80800 SH SOLE 58800 0 22000
CHROMAVISION MED SYS INC COM COM 17111P104 6757 443100 SH SOLE 390505 0 52595
CIENA CORP COM COM 171779101 201 3500 SH SOLE 3500 0 0
CISCO SYS INC COM COM 17275R102 536 5000 SH SOLE 5000 0 0
<PAGE>
EMERALD ADVISERS PAGE 2
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
CLARENT CORP DEL COM COM 180461105 12140 156137 SH SOLE 130007 0 26130
CLARUS CORP DEL COM COM 182707109 19464 294905 SH SOLE 251905 0 43000
COLLAGENEX PHARMACEUTCLS INCCO COM 19419B100 3328 133100 SH SOLE 91500 0 41600
COMCAST CORP CL A SPL COM 200300200 1861 36800 SH SOLE 16800 0 20000
COMMERCE BANCORP INC N J COM COM 200519106 1943 50454 SH SOLE 41377 0 9076
COMPLETE BUSINESS SLTNSINC COM COM 20452F107 528 21000 SH SOLE 21000 0 0
CONCURRENT COMPUTER CORP NEWCO COM 206710204 5422 290155 SH SOLE 240050 0 50105
CONNETICS CORP COM COM 208192104 746 71000 SH SOLE 58500 0 12500
CORECARE SYS INC COM COM 218908101 21 166000 SH SOLE 27000 0 139000
CRITICAL PATH INC COM COM 22674V100 2201 23325 SH SOLE 20825 0 2500
CROWN AMERICAN RLTY TR COM COM 228186102 575 104480 SH SOLE 14480 0 90000
CURAGEN CORP COM COM 23126R101 1416 20295 SH SOLE 18710 0 1585
CV THERAPEUTICS INC COM COM 126667104 3923 150528 SH SOLE 147428 0 3100
CYPRESS SEMICONDUCTOR CORP COM COM 232806109 332 10250 SH SOLE 10250 0 0
CYTRX CORP COM NEW COM 232828301 190 209375 SH SOLE 175575 0 33800
C&D TECHNOLOGIES INC COM COM 124661109 12167 286278 SH SOLE 188578 0 97700
D & E COMMUNICATIONS INC COM COM 232860106 352 18510 SH SOLE 6955 0 11555
DAVID'S BRIDAL INC COM 238576102 6045 540320 SH SOLE 380720 0 159600
DIAMOND TECHNOLGY PRTNRS INCCL COM 252762109 24416 284110 SH SOLE 230630 0 53480
DIGITAL IS INC DEL COM COM 25385N101 6669 70109 SH SOLE 62994 0 7115
DIGITAL RIV INC COM COM 25388B104 1509 45300 SH SOLE 41860 0 3440
DII GROUP INC COM COM 232949107 2055 28950 SH SOLE 28950 0 0
DOCUCORP INC COM COM 255911109 697 99180 SH SOLE 99180 0 0
DONEGAL GROUP INC J COM COM 257701102 1035 162430 SH SOLE 92319 0 70111
DROVERS BANCSHARES CORP PA COM COM 262120108 465 22666 SH SOLE 15025 0 7641
EDUCATION MGMT CORP COM COM 28139T101 2660 190000 SH SOLE 114600 0 75400
ELECTRONICS BOUTIQUE HLDGS CCO COM 286045109 6570 364980 SH SOLE 238230 0 126750
EMISPHERE TECHNOLOGIES INC COM COM 291345106 6872 228594 SH SOLE 211459 0 17135
ENTERCOM COMMUNICATIONS CORP COM 293639100 5910 89200 SH SOLE 43400 0 45800
ENVIRONMENTAL TECTONICS CORPCO COM 294092101 9592 634200 SH SOLE 432880 0 201320
EQUITY MARKETING INC COM COM 294724109 676 52515 SH SOLE 49465 0 3050
ERIE INDTY CO CL A COM 29530P102 622 19203 SH SOLE 0 0 19203
EXODUS COMMUNICATIONS INC COM COM 302088109 373 4200 SH SOLE 4200 0 0
EXTREME NETWORKS INC COM COM 30226D106 288 3450 SH SOLE 3450 0 0
FCNB CORP COM COM 302920103 214 14000 SH SOLE 14000 0 0
FEDERATED INVS INC PA CL B COM 314211103 1550 77262 SH SOLE 59047 0 18215
FIRST CHARTER CORP COM COM 319439105 164 11000 SH SOLE 11000 0 0
FIRST COLONIAL GROUP INC COM COM 319734109 1409 81083 SH SOLE 42958 0 38125
FIRST SIERRA FINL INC COM COM 335944104 6392 373266 SH SOLE 317826 0 55440
FULTON FINL CORP PA COM COM 360271100 1178 65439 SH SOLE 62624 0 2815
GLATFELTER P H CO COM COM 377316104 1718 118000 SH SOLE 50000 0 68000
GREATER BAY BANCORP COM COM 391648102 985 22985 SH SOLE 20045 0 2940
HADCO CORP COM COM 404681108 1581 31000 SH SOLE 30000 0 1000
HARLEYSVILLE NATL CORP PA COM COM 412850109 1020 31375 SH SOLE 21325 0 10050
HERLEY INDS COM 427398102 3757 247350 SH SOLE 136450 0 110900
HOT TOPIC INC COM COM 441339108 3009 129440 SH SOLE 101440 0 28000
HUDSON CITY BANCORP COM 443683107 470 35000 SH SOLE 35000 0 0
HUDSON UTD BANCORP COM COM 444165104 3686 144183 SH SOLE 95703 0 48480
HUMAN GENOME SCIENCES INC COM COM 444903108 5271 69072 SH SOLE 58102 0 10970
IBASIS INC COM COM 450732102 6495 225920 SH SOLE 184720 0 41200
IGEN INTL INC DEL COM COM 449536101 4498 151200 SH SOLE 124200 0 27000
<PAGE>
EMERALD ADVISERS PAGE 3
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
INFONAUTICS CORP CL A COM 456662105 7687 1098166 SH SOLE 834396 0 263770
INFOSPACE COM INC COM COM 45678T102 16320 152526 SH SOLE 132086 0 20440
INTERDIGITAL COMMUNICATION COM COM 45866A105 2445 32600 SH SOLE 0 0 32600
INTERNET CAPITAL GROUP INC COM COM 46059C106 37168 218633 SH SOLE 165831 0 52802
INTERVU INC COM COM 46114R106 1901 18100 SH SOLE 13100 0 5000
JAKKS PAC INC COM COM 47012E106 2268 121391 SH SOLE 106532 0 14859
JLG INDS INC COM COM 466210101 598 37500 SH SOLE 0 0 37500
JONES APPAREL GROUP INC COM COM 480074103 3176 117075 SH SOLE 75075 0 42000
KENSEY NASH CORP COM COM 490057106 1934 162900 SH SOLE 79200 0 83700
KEYNOTE SYSTEMS INC COM 493308100 8685 117761 SH SOLE 108576 0 9185
KEYSTONE FINL INC COM COM 493482103 4971 236035 SH SOLE 167190 0 68845
KING PHARMACEUTICALS INC COM COM 495582108 5303 94599 SH SOLE 68580 0 26019
KNIGHT/TRIMARK GROUP INC CL A COM 499067106 368 8000 SH SOLE 8000 0 0
KOPIN CORP COM COM 500600101 2514 59848 SH SOLE 57088 0 2760
KULICKE & SOFFA INDS INC COM COM 501242101 2599 61060 SH SOLE 20060 0 41000
LIBERTY PPTY TR SH BEN INT COM 531172104 4606 186115 SH SOLE 114065 0 72050
MAPQUEST.COM INC COM 565644101 8217 364200 SH SOLE 246700 0 117500
MATRIX PHARMACEUTICAL INC COM COM 576844104 4375 921148 SH SOLE 846228 0 74920
MEADE INSTRS CORP COM COM 583062104 414 14534 SH SOLE 13379 0 1155
MEDAREX INC COM COM 583916101 3897 104610 SH SOLE 91285 0 13325
MEDIA ARTS GROUP INC COM COM 58439C102 302 87930 SH SOLE 87930 0 0
MEDIAPLEX INC COM COM 58446B105 602 9600 SH SOLE 9600 0 0
MEDICAL TECHN & INNOV INC COM COM 58462M100 41 1730789 SH SOLE 1510789 0 220000
MERCANTILE BANKSHARES CORP COM COM 587405101 383 12000 SH SOLE 12000 0 0
MERCURY INTERACTIVE CORP COM COM 589405109 550 10200 SH SOLE 10200 0 0
MESABA HLDGS INC COM COM 59066B102 2102 183807 SH SOLE 164387 0 19420
MET PRO CORP COM COM 590876306 2995 299540 SH SOLE 169350 0 130190
MGM GRAND INC COM COM 552953101 226 4500 SH SOLE 4500 0 0
MICROSTRATEGY INC CL A COM 594972101 10537 100352 SH SOLE 89092 0 11260
MIPS TECHNOLOGIES INC COM COM 604567107 312 6000 SH SOLE 6000 0 0
MODEM MEDIA POPPE TYSON INC CL COM 607533106 2816 40015 SH SOLE 36645 0 3370
MSC SOFTWARE CORP COM COM 553531104 203 20000 SH SOLE 20000 0 0
NEOSE TECHNOLOGIES INC COM COM 640522108 10485 729423 SH SOLE 547493 0 181930
NET PERCEPTIONS INC COM 64107U101 7406 176330 SH SOLE 167330 0 9000
NETBANK INC COM COM 640933107 3020 163225 SH SOLE 142095 0 21130
NEUROCRINE BIOSCIENCES INC COM COM 64125C109 1921 77635 SH SOLE 72060 0 5575
OAK HILL FINL INC COM COM 671337103 146 10000 SH SOLE 10000 0 0
OCEANFIRST FINL CORP COM COM 675234108 191 11030 SH SOLE 10225 0 805
OM GROUP INC COM COM 670872100 4659 135300 SH SOLE 94000 0 41300
ONDISPLAY INC COM COM 68232L100 6886 75770 SH SOLE 67625 0 8145
ONEMAIN COM INC COM COM 68267P109 1379 91900 SH SOLE 69900 0 22000
PACIFIC SUNWEAR CALIF INC COM COM 694873100 4938 154925 SH SOLE 137275 0 17650
PACKETEER INC COM 695210104 5423 76375 SH SOLE 55495 0 20880
PAC-WEST TELECOMM INC COM COM 69371Y101 16021 604554 SH SOLE 477287 0 127267
PEGASUS COMMUNICATIONS CORP CL COM 705904100 6499 66485 SH SOLE 47755 0 18730
PENN TREATY AMERN CORP COM COM 707874103 3423 217330 SH SOLE 136330 0 81000
PENN-AMER GROUP INC COM COM 707247102 1972 254500 SH SOLE 120100 0 134400
PHILADELPHIA CONS HLDG CORP CO COM 717528103 828 57100 SH SOLE 17100 0 40000
PHILADELPHIA SUBN CORP COM PAR COM 718009608 4435 214386 SH SOLE 133120 0 81266
PIERCING PAGODA INC COM COM 720773100 8016 529992 SH SOLE 337092 0 192900
PINNACLE HLDGS INC COM COM 72346N101 2865 67600 SH SOLE 50600 0 17000
<PAGE>
EMERALD ADVISERS PAGE 4
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
PLEXUS CORP COM COM 729132100 3247 73800 SH SOLE 51900 0 21900
PNC FINANCIAL CORP COM 693475105 223 5000 SH SOLE 5000 0 0
POWERTEL INC COM COM 73936C109 3073 30617 SH SOLE 28062 0 2555
PREDICTIVE SYS INC COM COM 74036W102 3406 52000 SH SOLE 41700 0 10300
PROGRESS FINL CORP COM COM 743266108 5725 453460 SH SOLE 332895 0 120565
PROPHET 21 INC COM COM 743459109 327 33100 SH SOLE 0 0 33100
PROVIDENT AMERICAN CORP COM COM 743832107 9678 275053 SH SOLE 216568 0 58485
PSB BANCORP INC COM COM 693604100 352 80500 SH SOLE 15500 0 65000
PSINET INC COM COM 74437C101 3398 110066 SH SOLE 97286 0 12780
PURCHASEPRO COM INC COM COM 746144104 4063 29551 SH SOLE 25809 0 3742
RAVISENT TECHNOLOGIES INC COM 754440105 21736 565501 SH SOLE 403321 0 162180
REDBACK NETWORKS INC COM COM 757209101 417 2350 SH SOLE 2350 0 0
REPUBLIC FIRST BANCORP INC COM COM 760416107 1139 219535 SH SOLE 153535 0 66000
RESOURCE ASSET INVT TR COM COM 761196104 1577 145835 SH SOLE 45735 0 100100
ROYAL BANCSHARES PA INC CL A COM 780081105 2999 199945 SH SOLE 170283 0 29661
S & T BANCORP INC COM COM 783859101 1711 73800 SH SOLE 54900 0 18900
SAFEGUARD SCIENTIFICS INC COM COM 786449108 34322 210566 SH SOLE 150946 0 59620
SANCHEZ COMPUTER ASSOCS INC CO COM 799702105 15611 379032 SH SOLE 289234 0 89798
SAPIENT CORP COM COM 803062108 719 5100 SH SOLE 5100 0 0
SEACHANGE INTL INC COM COM 811699107 22787 644162 SH SOLE 547823 0 96339
SEGUE SOFTWARE INC COM COM 815807102 268 10700 SH SOLE 10700 0 0
SEI INVTS CO COM COM 784117103 3249 27302 SH SOLE 17222 0 10080
SI HANDLING SYS INC COM COM 784255101 7390 775380 SH SOLE 512565 0 262815
SILICON STORAGE TECHN INC COM COM 827057100 1662 40300 SH SOLE 28300 0 12000
SILICON VY BANCSHARES COM COM 827064106 4562 92158 SH SOLE 87688 0 4470
SIRIUS SATELLITE RADIO INC COM 82966U103 3775 84835 SH SOLE 67500 0 17335
SKYWEST INC COM COM 830879102 779 27822 SH SOLE 24977 0 2845
SOVEREIGN BANCORP INC COM COM 845905108 427 57256 SH SOLE 12240 0 45016
SPORTSLINE USA INC COM COM 848934105 3774 75300 SH SOLE 62300 0 13000
STERLING SOFTWARE INC COM COM 859547101 1860 59050 SH SOLE 50450 0 8600
SUN BANCORP INC COM COM 866634108 1663 86411 SH SOLE 57059 0 29352
SUN BANCORP INC N J COM COM 86663B102 2829 284631 SH SOLE 249631 0 35000
SUNGARD DATA SYS INC COM COM 867363103 1805 76003 SH SOLE 41003 0 35000
SUSQUEHANNA BANCSHARES INC COM COM 869099101 331 20839 SH SOLE 80 0 20759
TALK COM INC COM COM 874264104 2817 158684 SH SOLE 143509 0 15175
TANGRAM ENTERPRISE SOLUTIONSCO COM 875924102 80 10150 SH SOLE 10150 0 0
TECHNITROL INC COM COM 878555101 11752 264090 SH SOLE 190590 0 73500
TELEFLEX INC COM COM 879369106 2008 64125 SH SOLE 33025 0 31100
TITAN CORP COM COM 888266103 336 7100 SH SOLE 7100 0 0
TOPPS INC COM COM 890786106 4637 446980 SH SOLE 399495 0 47485
TRANSWITCH CORP COM COM 894065101 9626 198997 SH SOLE 178845 0 20153
TRIQUINT SEMICONDUCTOR INC COM COM 89674K103 11910 107058 SH SOLE 94553 0 12505
TRITON PCS HLDGS INC CL A COM 89677M106 3440 75600 SH SOLE 67140 0 8460
TULARIK INC COM COM 899165104 2590 80000 SH SOLE 67700 0 12300
TURBOCHEF INC COM COM 900006107 319 40150 SH SOLE 40150 0 0
U S INTERACTIVE INC COM COM 90334M109 19893 462626 SH SOLE 347285 0 115341
UCBH HLDGS INC COM COM 90262T308 385 18705 SH SOLE 18005 0 700
URBAN OUTFITTERS INC COM COM 917047102 1689 58000 SH SOLE 36000 0 22000
VALUEVISION INTL INC CL A COM 92047K107 3366 58733 SH SOLE 53798 0 4935
VERTICALNET INC OC-COM COM 92532L107 25111 153117 SH SOLE 107412 0 45705
VIADOR INC COM COM 92553R108 4524 106750 SH SOLE 96065 0 10685
<PAGE>
EMERALD ADVISERS PAGE 5
FORM 13F INFORMATION TABLE
AS OF DATE: 12/31/99
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
VIGNETTE CORP COM COM 926734104 1791 10985 SH SOLE 8560 0 2425
VIROPHARMA INC COM COM 928241108 8233 222503 SH SOLE 137953 0 84550
VISHAY INTERTECHNOLOGY INC COM COM 928298108 9961 314975 SH SOLE 173100 0 141875
VITESSE SEMICONDUCTOR CORP COM COM 928497106 8711 166129 SH SOLE 138374 0 27755
VIXEL CORP COM 928552108 6731 394510 SH SOLE 325270 0 69240
VOICESTREAM WIRELESS CORP COM COM 928615103 6477 45512 SH SOLE 39927 0 5585
WHITTMAN-HART INC COM COM 966834103 370 6900 SH SOLE 6900 0 0
WORKFLOW MGMT INC COM COM 98137N109 7259 253580 SH SOLE 222405 0 31175
WSFS FINL CORP COM COM 929328102 1510 119616 SH SOLE 98401 0 21215
YARDVILLE NATL BANCORP COM COM 985021104 482 41497 SH SOLE 39932 0 1565
ZANY BRAINY INC COM COM 98906Q101 871 85000 SH SOLE 20000 0 65000
ZIXIT CORP COM COM 98974P100 1147 28950 SH SOLE 21300 0 7650
</TABLE>
