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Tributary Capital Management

Jun 2026 → Sep 2026 · 8 funds

Our archive holds 14 letters from Tributary Capital Management, behind 24 investment theses and positions in 148 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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14
Letters
148
Companies
89
Moves
24
Theses

8 strategies

Tributary Capital Management publishes a letter per strategy. Each one has its own page — what it holds, what it bought, what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 89 moves

  • ExitedFair Isaac
    September 2026
    “Fair Isaac (FICO) owns the FICO score that banks use to decide whether to approve your mortgage, car loan or credit card.”
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  • New positionCapital One
    September 2026
    “Capital One is the largest credit card issuer (by loans) in the United States.”
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  • New positionSeagate
    September 2026
    “Seagate (STX) makes hard disk drives and solid-state drives that store data.”
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  • TrimmedFranklin Electric
    September 2026
    “We exited our positions in ICF International and Franklin Electric in our Small/Mid Strategy while retaining both in our Small Cap Strategy.”
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  • New positionLazard
    September 2026
    “Lazard is a financial advisory and asset management firm.”
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  • New positionIBM
    September 2026
    “The stock sold off following an earnings preannouncement creating the opportunity to establish a position.”
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  • ExitedCharles Schwab
    September 2026
    “Charles Schwab was eliminated after a period of outperformance as fears of AI disintermediation dissipated.”
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  • New positionKLA Corporation
    September 2026
    “We initiated a position in the stock after a pullback in the sector.”
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  • New positionQualcomm
    September 2026
    “Qualcomm is a global technology leader which is seeing growth in its non-handset revenue with expected accelerating growth in its Automotive/Internet of Things and Data Center businesses into FY2027.”
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  • New positionAECOM
    September 2026
    “AECOM is an engineering and consulting company providing a range of design and engineering solutions and construction management services.”
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  • ExitedPrologis
    September 2026
    “Prologis was eliminated given its valuation relative to other REITs.”
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  • New positionZscaler
    September 2026
    “Zscaler (ZS) protects companies from cybersecurity threats and increasingly, from the risks that come with AI itself.”
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  • New positionOracle
    September 2026
    “Oracle Corporation is an enterprise information technology company that provides industry-leading cloud infrastructure technology and applications as well as hardware products and professional services.”
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  • New positionMicron Technology
    September 2026
    “Micron Technology entered the All Cap Plus Strategy this quarter, as part of the regular rebalancing to include the largest Russell 3000 Index holdings in the portfolio.”
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  • ExitedBoston Scientific
    September 2026
    “Boston Scientific was eliminated following a decline in fundamentals and a cybersecurity incident that impacted its ability to process and ship customer orders.”
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  • New positionDanaher
    September 2026
    “We established a position in the company after they reported improving trends in most of their end markets.”
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  • ExitedAccenture
    September 2026
    “Accenture was eliminated after a period of strong outperformance despite weakening fundamentals.”
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  • New positionNokia
    September 2026
    “Nokia is a network equipment provider with a growing network infrastructure business and improving fundamentals.”
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  • ExitedGenuine Parts
    September 2026
    “Genuine Parts was eliminated after a period of outperformance given the quality of its automotive business and the impending business separation.”
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  • TrimmedICF International
    September 2026
    “We exited our positions in ICF International and Franklin Electric in our Small/Mid Strategy while retaining both in our Small Cap Strategy.”
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  • New positionBlock
    September 2026
    “Block (XYZ) operates two financial platforms: Square helps businesses accept payments and manage finances and Cash App works as a digital wallet for consumers.”
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  • New positionUber
    September 2026
    “Uber is a technology platform that connects customers with providers of ride services (Mobility) and with restaurants, grocers and other stores (Delivery).”
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  • AddedAdvanced Energy Industries
    September 2026
    “During the third quarter five holdings were added to the portfolio.”
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  • New positionRayonier
    September 2026
    “Rayonier is a land resources REIT with a portfolio of over four million acres in the Southern and Northwestern U.S.”
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  • New positionApplied Materials
    September 2026
    “We initiated a position in the company after it underperformed following concerns of slowing capex.”
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  • ExitedHoneywell Aerospace
    September 2026
    “Honeywell Aerospace was eliminated following disappointing earnings results due to supply chain issues.”
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  • ExitedThermo Fisher Scientific
    September 2026
    “Thermo Fisher Scientific was eliminated following a period of outperformance as it returned to historical valuation levels following signs of improvement in its end markets.”
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  • New positionASML
    September 2026
    “After the stock experienced a period of underperformance, we added the name to reduce our underweight in information technology and, more specifically, semiconductors.”
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  • ExitedInteger Holdings
    September 2026
    “We exited the position following the announcement that private equity firm KKR would acquire the company at a 20% premium to the prior day’s closing price.”
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  • New positionComfort Systems
    September 2026
    “Comfort Systems (FIX) builds and installs mechanical, electrical and plumbing systems inside large commercial facilities.”
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Showing the 30 most recent of 89 recorded moves.

Companies held · 148

Every company Tributary Capital Management has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 24

Letter archive · 14

2026

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