EMERALD ADVISERS INC/PA
13F-HR, 2000-11-08
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 13F

                               Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2000

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:  1703 Oregon Pike
                               Suite 101
                               Lancaster, PA 17601

Form 13F File Number:    028-04445

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:

Scott Lambert Rehr            Lancaster, Pennsylvania       November 3, 2000
------------------            -----------------------       ----------------

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

Form 13F Information Table Entry Total:              207

Form 13F Information Table Value Total:             $1,040,252
                                                    (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>

PORTVUE-SEC13F.LNP                                        EMERALD ADVISERS                                                 PAGE 1
RUN DATE: 10/31/00  4:05 P.M.
                                                     FORM 13F INFORMATION TABLE
                                                        AS OF DATE: 09/30/00

                                                            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>
                                                            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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

3-DIMENSIONAL PHARMACEUTICALCO COM              88554W104      360    10000 SH       SOLE                     5000        0     5000
4 KIDS ENTMT INC COM           COM              350865101    10277   608995 SH       SOLE                   549280        0    59715
ABGENIX INC COM                COM              00339B107     8752   108295 SH       SOLE                    92125        0    16170
ACT MFG INC COM                COM              000973107     8147   154450 SH       SOLE                   132405        0    22045
ADELPHIA COMMUNICATIONS CORPCL COM              006848105      882    32000 SH       SOLE                        0        0    32000
AETHER SYSTEMS INC COM         COM              00808V105      580     5500 SH       SOLE                     5500        0        0
ALABAMA NATL BANCORPORATION CO COM              010317105      260    12000 SH       SOLE                    12000        0        0
ALLEN ORGAN CO                 COM              017753104     1408    21259 SH       SOLE                     8794        0    12465
AMERISOURCE HEALTH CORP CL A   COM              03071P102    11045   235000 SH       SOLE                   111000        0   124000
AMKOR TECHNOLOGY INC COM       COM              031652100     9074   347335 SH       SOLE                   252735        0    94600
ANADIGICS INC COM              COM              032515108     5931   268046 SH       SOLE                   245016        0    23030
ANNTAYLOR STORES CORP COM      COM              036115103     3193    83075 SH       SOLE                    69875        0    13200
ANSOFT CORP COM                COM              036384105     2484   187500 SH       SOLE                   107700        0    79800
APPLIED MICRO CIRCUITS CORP CD COM              03822W109     4435    42836 SH       SOLE                    42716        0      120
ARNOLD INDS INC COM            COM              042595108      557    33000 SH       SOLE                        0        0    33000
ARTHROCARE CORP COM            COM              043136100     5849   300890 SH       SOLE                   268620        0    32270
AUDIOCODES LTD ORD             COM              M15342104     2183    51300 SH       SOLE                    43100        0     8200
AURORA BIOSCIENCES CORP COM    COM              051920106     2224    32700 SH       SOLE                    22700        0    10000
AWARE INC MASS COM             COM              05453N100     3220    83625 SH       SOLE                    68325        0    15300
BANKNORTH GRP                  COM              06646R107      245    13687 SH       SOLE                    13687        0        0
BARRETT RES CORP COM PAR $0.01 COM              068480201      361     9600 SH       SOLE                     9600        0        0
BEL FUSE INC (A) CL A          COM              077347201     1705    38200 SH       SOLE                    33362        0     4838
BEL FUSE INC (B) CL B          COM              077347300      524    13600 SH       SOLE                    10000        0     3600
BENCHMARK ELECTRS INC COM      COM              08160H101     9520   183075 SH       SOLE                   152275        0    30800
BERGER HLDGS LTD COM NEW       COM              084037407      625   357126 SH       SOLE                   248011        0   109115
BLACK BOX CORP COM             COM              091826107     2033    43610 SH       SOLE                    15010        0    28600
BRANDYWINE RLTY TR SH BEN INT  COM              105368203     6775   334585 SH       SOLE                   240585        0    94000
BROCADE COMMUNICATIONS SYS ICO COM              111621108      614     2600 SH       SOLE                     2600        0        0
BROOKLINE BANCORP INC COM      COM              113739106      133    11600 SH       SOLE                    11600        0        0
BROOKSTONE INC COM             COM              114537103     2034   145280 SH       SOLE                   107280        0    38000
BT FINANCIAL CORP COM          COM              055763106     5129   277257 SH       SOLE                   205468        0    71789
BUCKEYE PARTNERS L P           COM              118230101      949    33000 SH       SOLE                        0        0    33000
C COR ELECTRS INC COM          COM              125010108     4615   301410 SH       SOLE                   210210        0    91200
CABLE DESIGN TECHN CORP COM    COM              126924109    22959   944328 SH       SOLE                   754650        0   189678
CELGENE CORP COM               COM              151020104    24794   416701 SH       SOLE                   343162        0    73539
CEPHALON INC COM               COM              156708109     9340   192580 SH       SOLE                   128780        0    63800
CHARLOTTE RUSSE HOLDING INC    COM              161048103     2781   209895 SH       SOLE                   167295        0    42600
CHARMING SHOPPES INC COM       COM              161133103     7602  1456720 SH       SOLE                  1014995        0   441725
CHILDRENS PL RETAIL STORES ICO COM              168905107     1694    65790 SH       SOLE                    54890        0    10900
CHROMAVISION MED SYS INC COM   COM              17111P104     4215   443681 SH       SOLE                   386006        0    57675
CIENA CORP COM                 COM              171779101      786     6400 SH       SOLE                     6400        0        0
CISCO SYS INC COM              COM              17275R102      387     7000 SH       SOLE                     7000        0        0
CLARENT CORP DEL COM           COM              180461105    11438   290482 SH       SOLE                   255077        0    35405
CLARUS CORP DEL COM            COM              182707109     8854   388140 SH       SOLE                   333975        0    54165
COLUMBIA LABS INC COM          COM              197779101      730   125600 SH       SOLE                   108600        0    17000
COMCAST CORP CL A SPL          COM              200300200     1362    33280 SH       SOLE                    13280        0    20000
COMMERCE BANCORP INC N J COM   COM              200519106    12937   222330 SH       SOLE                   205590        0    16740
COMSTOCK RES INC COM           COM              205768203     4716   414575 SH       SOLE                   404575        0    10000
CONNETICS CORP COM             COM              208192104     6183   256305 SH       SOLE                   235435        0    20870
CORECARE SYS INC COM           COM              218908101       13   127000 SH       SOLE                        0        0   127000
COVAD COMMUNICATIONS GROUP ICO COM              222814204     3259   243648 SH       SOLE                   235713        0     7935


<PAGE>


PORTVUE-SEC13F.LNP                                        EMERALD ADVISERS                                                 PAGE 2
RUN DATE: 10/31/00  4:05 P.M.
                                                     FORM 13F INFORMATION TABLE
                                                        AS OF DATE: 09/30/00

                                                            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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

CROWN AMERICAN RLTY TR COM     COM              228186102     1359   224100 SH       SOLE                   124100        0   100000
CUBIST PHARMACEUTICALS INC COM COM              229678107    17122   328867 SH       SOLE                   299707        0    29160
CV THERAPEUTICS INC COM        COM              126667104    24252   311793 SH       SOLE                   281318        0    30475
CYPRESS SEMICONDUCTOR CORP COM COM              232806109      211     5075 SH       SOLE                     5075        0        0
C&D TECHNOLOGIES INC COM       COM              124661109    20232   356506 SH       SOLE                   247256        0   109250
D & E COMMUNICATIONS INC COM   COM              232860106      512    18750 SH       SOLE                     7195        0    11555
DDI CORP COM                   COM              233162106     1323    29900 SH       SOLE                    23400        0     6500
DIAMOND TECHNOLGY PRTNRS INCCL COM              252762109     9662   130125 SH       SOLE                   116120        0    14005
DIGITAL IS INC DEL COM         COM              25385N101     2739   146089 SH       SOLE                   143484        0     2605
DISCOVERY PARTNERS INTL INC CO COM              254675101      451    22200 SH       SOLE                    22200        0        0
DITECH COMMUNICATIONS CORP COM COM              25500M103     4445   108420 SH       SOLE                   104915        0     3505
DONEGAL GROUP INC J COM        COM              257701102      537    74111 SH       SOLE                        0        0    74111
DROVERS BANCSHARES CORP PA COM COM              262120108      523    33336 SH       SOLE                    25314        0     8022
E SPIRE COMMUNICATIONS INC COM COM              269153102     1965   668900 SH       SOLE                   539600        0   129300
EDUCATION MGMT CORP COM        COM              28139T101    10904   404780 SH       SOLE                   273625        0   131155
EFFICIENT NETWORKS INC COM     COM              282056100     4346   116484 SH       SOLE                   116254        0      230
ELECTRONICS BOUTIQUE HLDGS CCO COM              286045109    10044   467180 SH       SOLE                   314230        0   152950
EMERGE INTERACTIVE INC         COM              29088W103     6412   403928 SH       SOLE                   389891        0    14037
EMISPHERE TECHNOLOGIES INC COM COM              291345106    14242   475713 SH       SOLE                   395263        0    80450
ENDO PHARMACEUTICALS HLDGS ICO COM              29264F205      162    16500 SH       SOLE                     2750        0    13750
ENTERCOM COMMUNICATIONS CORP   COM              293639100     6110   204100 SH       SOLE                   111600        0    92500
ENVIRONMENTAL TECTONICS CORPCO COM              294092101     6877   833570 SH       SOLE                   560185        0   273385
EQUITABLE RES INC COM          COM              294549100     6402   101000 SH       SOLE                    55000        0    46000
ERIE INDTY CO CL A             COM              29530P102      564    19203 SH       SOLE                        0        0    19203
ESPERION THERAPEUTICS INC      COM              29664R106     1625    94200 SH       SOLE                    86700        0     7500
EXTENDED SYS INC COM           COM              301973103    12846   239000 SH       SOLE                   223310        0    15690
EXTENSITY INC COM              COM              302255104     1277    60800 SH       SOLE                    48800        0    12000
EXTREME NETWORKS INC COM       COM              30226D106      465     4060 SH       SOLE                     4060        0        0
FCNB CORP COM                  COM              302920103      297    14000 SH       SOLE                    14000        0        0
FEDERATED INVS INC PA CL B     COM              314211103     2132    86132 SH       SOLE                    35188        0    50944
FIRST CHARTER CORP COM         COM              319439105      159    11000 SH       SOLE                    11000        0        0
FIRST COLONIAL GROUP INC COM   COM              319734109      918    67370 SH       SOLE                    33019        0    34351
FREEMARKETS INC COM            COM              356602102     3082    53958 SH       SOLE                    52128        0     1830
FULTON FINL CORP PA COM        COM              360271100      260    13136 SH       SOLE                    13136        0        0
FUSION MED TECHNOLOGIES INC CO COM              361128101     1430   145700 SH       SOLE                   120100        0    25600
GLATFELTER P H CO COM          COM              377316104     1438   118560 SH       SOLE                    50560        0    68000
HARLEYSVILLE NATL CORP PA COM  COM              412850109     2676    88646 SH       SOLE                    56936        0    31710
HERLEY INDS                    COM              427398102     3592   158310 SH       SOLE                    83410        0    74900
HERSHEY FOODS CORP             COM              427866108     2181    40300 SH       SOLE                    40300        0        0
HORIZON OFFSHORE INC COM       COM              44043J105      360    20400 SH       SOLE                    20400        0        0
HUDSON CITY BANCORP            COM              443683107      595    35000 SH       SOLE                    35000        0        0
HUDSON UTD BANCORP COM         COM              444165104     4990   180631 SH       SOLE                   150031        0    30600
IMPERIAL BANCORP COM           COM              452556103     1806    94455 SH       SOLE                    85870        0     8585
INDEPENDENT BK CORP MASS COM   COM              453836108      290    24200 SH       SOLE                    24200        0        0
INFONAUTICS CORP CL A          COM              456662105     3321  1562781 SH       SOLE                  1250226        0   312555
INFOSPACE COM INC COM          COM              45678T102     6977   230651 SH       SOLE                   219686        0    10965
INKINE PHARMACEUTICAL INC COM  COM              457214104     4757   442518 SH       SOLE                   418743        0    23775
INNOVATIVE SOLUTIONS & SUPPOCO COM              45769N105     1284    75000 SH       SOLE                    37500        0    37500
INTERACTIVE OBJECTS INC COM    COM              45839B107      315   102800 SH       SOLE                    66300        0    36500
INTERDIGITAL COMMUNICATION COM COM              45866A105      456    32600 SH       SOLE                        0        0    32600
INTERSIL HLDG CORP CL A        COM              46069S109      264     5300 SH       SOLE                     5300        0        0


<PAGE>


PORTVUE-SEC13F.LNP                                        EMERALD ADVISERS                                                 PAGE 3
RUN DATE: 10/31/00  4:05 P.M.
                                                     FORM 13F INFORMATION TABLE
                                                        AS OF DATE: 09/30/00

                                                            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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

IOMEGA CORP COM                COM              462030107     7112  1422379 SH       SOLE                  1245354        0   177025
JONES APPAREL GROUP INC COM    COM              480074103     2173    82000 SH       SOLE                    20000        0    62000
K2 DESIGN INC COM              COM              482731106      713   167800 SH       SOLE                   141300        0    26500
KENNAMETAL INC COM             COM              489170100     4674   181500 SH       SOLE                   116200        0    65300
KENSEY NASH CORP COM           COM              490057106     4425   340400 SH       SOLE                   211100        0   129300
KEY PRODTN INC COM             COM              493138101     4309   195300 SH       SOLE                   163100        0    32200
KEYSTONE FINL INC COM          COM              493482103     6103   280615 SH       SOLE                   237070        0    43545
KING PHARMACEUTICALS INC COM   COM              495582108    14174   416885 SH       SOLE                   374440        0    42445
KOPIN CORP COM                 COM              500600101    11872   659540 SH       SOLE                   617700        0    41840
KULICKE & SOFFA INDS INC COM   COM              501242101     4059   304900 SH       SOLE                   182900        0   122000
LEAP WIRELESS INTL INC COM     COM              521863100     8159   130406 SH       SOLE                   119951        0    10455
LIBERTY PPTY TR SH BEN INT     COM              531172104     4294   156150 SH       SOLE                   106850        0    49300
LONE STAR TECHNOLOGIES INC COM COM              542312103     6151   133277 SH       SOLE                   108247        0    25030
LOUIS DREYFUS NAT GAS CORP COM COM              546011107    13871   350045 SH       SOLE                   301740        0    48305
MATRIX PHARMACEUTICAL INC COM  COM              576844104    12272   788553 SH       SOLE                   691418        0    97135
MAVERICK TUBE CORP COM         COM              577914104     8173   303398 SH       SOLE                   240383        0    63015
MEDICAL TECHN & INNOV INC COM  COM              58462M100      230  1680789 SH       SOLE                  1460789        0   220000
MERCANTILE BANKSHARES CORP COM COM              587405101     6756   186145 SH       SOLE                   156995        0    29150
MERCURY INTERACTIVE CORP COM   COM              589405109      893     5700 SH       SOLE                     5700        0        0
MET PRO CORP COM               COM              590876306     1132   111790 SH       SOLE                        0        0   111790
MRV COMMUNICATIONS INC COM     COM              553477100     9096   200745 SH       SOLE                   195025        0     5720
MSC SOFTWARE CORP COM          COM              553531104     2163   204100 SH       SOLE                   172200        0    31900
N S GROUP INC COM              COM              628916108     5564   280165 SH       SOLE                   248535        0    31630
NEOSE TECHNOLOGIES INC COM     COM              640522108    32191   665453 SH       SOLE                   511778        0   153675
NETBANK INC COM                COM              640933107     1266   107145 SH       SOLE                    94935        0    12210
NETERGY NETWORKS INC           COM              64111F108     1538   170875 SH       SOLE                   125875        0    45000
NEUROCRINE BIOSCIENCES INC COM COM              64125C109     2414    53650 SH       SOLE                    53090        0      560
NOVOSTE CORP COM               COM              67010C100      901    21200 SH       SOLE                    17100        0     4100
NUMERICAL TECHNOLOGIES INC COM COM              67053T101      288    10000 SH       SOLE                    10000        0        0
O2MICRO INTL LTD ORD           COM              G6797E106      172    10000 SH       SOLE                    10000        0        0
OAK HILL FINL INC COM          COM              671337103      161    10000 SH       SOLE                    10000        0        0
OM GROUP INC COM               COM              670872100     7365   168815 SH       SOLE                   120490        0    48325
ONI SYS CORP COM               COM              68273F103      296     3425 SH       SOLE                     3425        0        0
ORAPHARMA INC.                 COM              68554E106     1457   108400 SH       SOLE                    45400        0    63000
PACIFIC SUNWEAR CALIF INC COM  COM              694873100     6180   329575 SH       SOLE                   281125        0    48450
PAC-WEST TELECOMM INC COM      COM              69371Y101     7983   874813 SH       SOLE                   758321        0   116492
PARAGON TECHNOLOGIES INC COM   COM              69912T108     5894   834535 SH       SOLE                   566685        0   267850
PARKVALE FINL CORP COM         COM              701492100      495    27500 SH       SOLE                    23750        0     3750
PATTERSON ENERGY INC COM       COM              703414102     7110   206828 SH       SOLE                   194663        0    12165
PECO II INC COM                COM              705221109     1152    24600 SH       SOLE                    20000        0     4600
PEGASUS COMMUNICATIONS CORP CL COM              705904100     7451   154216 SH       SOLE                   100361        0    53855
PENN TREATY AMERN CORP COM     COM              707874103     1248    68600 SH       SOLE                    14100        0    54500
PENN-AMER GROUP INC COM        COM              707247102     2328   310400 SH       SOLE                   231400        0    79000
PHILADELPHIA CONS HLDG CORP CO COM              717528103     2444   117100 SH       SOLE                    77100        0    40000
PHILADELPHIA SUBN CORP COM PAR COM              718009608     3449   148754 SH       SOLE                    83154        0    65600
PHOTRONICS INC COM             COM              719405102     4420   202620 SH       SOLE                   173995        0    28625
PINNACLE HLDGS INC COM         COM              72346N101     2399    90100 SH       SOLE                    73100        0    17000
PNC FINANCIAL CORP             COM              693475105      459     7060 SH       SOLE                     7060        0        0
POWERTEL INC COM               COM              73936C109     3008    39542 SH       SOLE                    38597        0      945
POWERWAVE TECHNOLOGIES INC COM COM              739363109     2532    66676 SH       SOLE                    66086        0      590
PROGRESS FINL CORP COM         COM              743266108    11689  1039042 SH       SOLE                   882347        0   156695


<PAGE>


PORTVUE-SEC13F.LNP                                        EMERALD ADVISERS                                                 PAGE 4
RUN DATE: 10/31/00  4:05 P.M.
                                                     FORM 13F INFORMATION TABLE
                                                        AS OF DATE: 09/30/00

                                                            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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

PROPHET 21 INC COM             COM              743459109      322    25100 SH       SOLE                     2000        0    23100
PSB BANCORP INC COM            COM              693604100      290    65000 SH       SOLE                        0        0    65000
PUMA TECHNOLOGY INC COM        COM              745887109     9300   457854 SH       SOLE                   411414        0    46440
REDBACK NETWORKS INC COM       COM              757209101      402     2450 SH       SOLE                     2450        0        0
REGIONS FINL CORP COM          COM              758940100      227    10000 SH       SOLE                    10000        0        0
REMINGTON OIL & GAS CORP COM   COM              759594302      135    12900 SH       SOLE                     8400        0     4500
REPUBLIC FIRST BANCORP INC COM COM              760416107     1223   305630 SH       SOLE                   219830        0    85800
RESOURCE ASSET INVT TR COM     COM              761196104     1221    96935 SH       SOLE                    24835        0    72100
ROSETTA INPHARMATICS INC OC-CO COM              777777103     2443    87600 SH       SOLE                    76600        0    11000
ROYAL BANCSHARES PA INC CL A   COM              780081105     7329   407150 SH       SOLE                   377442        0    29708
S & T BANCORP INC COM          COM              783859101     2709   142600 SH       SOLE                   101000        0    41600
SAFEGUARD SCIENTIFICS INC COM  COM              786449108    13170   662631 SH       SOLE                   534186        0   128445
SANCHEZ COMPUTER ASSOCS INC CO COM              799702105    12918   833433 SH       SOLE                   621758        0   211675
SANDY SPRING BANCORP INC CMT-C COM              800363103      500    20000 SH       SOLE                    20000        0        0
SAUCONY INC CL B               COM              804120202      929   102900 SH       SOLE                   102900        0        0
SEACHANGE INTL INC COM         COM              811699107    25196   754951 SH       SOLE                   648411        0   106540
SEMITOOL INC COM               COM              816909105     4865   379740 SH       SOLE                   315795        0    63945
SEMTECH CORP COM               COM              816850101      388     9000 SH       SOLE                     9000        0        0
SIERRACITIES                   COM              826521106      215    68776 SH       SOLE                    68776        0        0
SILICON STORAGE TECHN INC COM  COM              827057100    17636   648665 SH       SOLE                   583160        0    65505
SILICON VY BANCSHARES COM      COM              827064106     2990    51351 SH       SOLE                    51151        0      200
SIRIUS SATELLITE RADIO INC     COM              82966U103    18851   356514 SH       SOLE                   329279        0    27235
SKY FINL GROUP INC COM         COM              83080P103      248    15391 SH       SOLE                    15391        0        0
SOVEREIGN BANCORP INC COM      COM              845905108      527    57016 SH       SOLE                    12000        0    45016
SPECTRUM CTL INC COM           COM              847615101     3233   201300 SH       SOLE                   135000        0    66300
SPS TECHNOLOGIES INC COM       COM              784626103      344     7100 SH       SOLE                        0        0     7100
ST MARY LD & EXPL CO COM       COM              792228108     9623   417248 SH       SOLE                   381813        0    35435
SUMMIT BANCORP COM             COM              866005101      397    11537 SH       SOLE                    11537        0        0
SUN BANCORP INC COM            COM              866634108      787    54768 SH       SOLE                    32189        0    22579
SUN BANCORP INC N J COM        COM              86663B102     3491   349106 SH       SOLE                   303273        0    45833
SUNGARD DATA SYS INC COM       COM              867363103     5526   129080 SH       SOLE                    66880        0    62200
SUSQUEHANNA BANCSHARES INC COM COM              869099101      317    20759 SH       SOLE                        0        0    20759
TECHNITROL INC COM             COM              878555101    22851   226248 SH       SOLE                   176363        0    49885
TELEFLEX INC COM               COM              879369106     5596   162800 SH       SOLE                   100400        0    62400
TERAYON COMMUNICATION SYS COM  COM              880775101     5565   163989 SH       SOLE                   155434        0     8555
THERMOGENESIS CORP COM NEW     COM              883623209      805   271100 SH       SOLE                   257600        0    13500
THREE-FIVE SYS INC COM         COM              88554L108     7187   245723 SH       SOLE                   230903        0    14820
TRANSWITCH CORP COM            COM              894065101    34345   538749 SH       SOLE                   492743        0    46006
TRIMBLE NAV LTD COM            COM              896239100     1087    48600 SH       SOLE                    39700        0     8900
TRIQUINT SEMICONDUCTOR INC COM COM              89674K103    13336   365985 SH       SOLE                   345705        0    20280
TRITON PCS HLDGS INC CL A      COM              89677M106     9524   346324 SH       SOLE                   281959        0    64365
TTM TECHNOLOGIES               COM              87305R109      411    17500 SH       SOLE                    17500        0        0
U S INTERACTIVE INC COM        COM              90334M109     2056   812059 SH       SOLE                   601165        0   210894
UCBH HLDGS INC COM             COM              90262T308      596    16630 SH       SOLE                    16530        0      100
UNIT CORP COM                  COM              909218109    14690   979355 SH       SOLE                   908330        0    71025
UTI ENERGY CORP COM            COM              903387108    16795   752710 SH       SOLE                   652430        0   100280
VARIAN SEMICONDUCTOR EQUIPTMCO COM              922207105      854    22800 SH       SOLE                    17225        0     5575
VERTICALNET INC OC-COM         COM              92532L107    13554   385878 SH       SOLE                   313393        0    72485
VISHAY INTERTECHNOLOGY INC COM COM              928298108    15985   515652 SH       SOLE                   413317        0   102335
VOICESTREAM WIRELESS CORP COM  COM              928615103     9706    83627 SH       SOLE                    78292        0     5335
WIND RIV SYS INC COM           COM              973149107     6959   145158 SH       SOLE                   144203        0      955


<PAGE>


PORTVUE-SEC13F.LNP                                        EMERALD ADVISERS                                                 PAGE 5
RUN DATE: 10/31/00  4:05 P.M.
                                                     FORM 13F INFORMATION TABLE
                                                        AS OF DATE: 09/30/00

                                                            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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------

XM SATELLITE RADIO HLDGS INCCL COM              983759101     1189    27600 SH       SOLE                    27280        0      320
YARDVILLE NATL BANCORP COM     COM              985021104      529    43192 SH       SOLE                    42912        0      280
ZALE CORP NEW COM              COM              988858106      860    26500 SH       SOLE                    21500        0     5000

     LINE COUNT: 207


</TABLE>


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