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Tributary Capital Management

Jun 2026 · 7 funds

Our archive holds 7 letters from Tributary Capital Management, behind 15 investment theses and positions in 80 companies. Every quote below is copied verbatim from the letter it came from.

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7
Letters
80
Companies
44
Moves
15
Theses

7 strategies

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

What they bought and sold · 44 moves

  • TrimmedAmerican Tower
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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  • TrimmedMirion Technologies Class A
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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  • ExitedRobert Half
    June 2026
    “We exited following a period of difficult performance as 2026 earnings estimates declined significantly, with further negative revisions expected.”
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  • New positionQuest Diagnostics
    June 2026
    “Quest Diagnostics was initiated as a new position.”
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  • ExitedBecton Dickinson
    June 2026
    “Becton Dickinson was eliminated during the quarter.”
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  • ExitedTopBuild
    June 2026
    “Due to the acquisition announcement, we exited the position to purchase Installed Building Products.”
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  • TrimmedBlackbaud
    June 2026
    “We sold our Small/Mid Strategy position to fund the initiation of Tyler Technologies, which we view as a more compelling opportunity for the strategy.”
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  • AddedLivaNova
    June 2026
    “LivaNova reported first quarter revenue and earnings above consensus expectations.”
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  • New positionEssential Properties Realty Trust
    June 2026
    “Nine positions were added to the strategy in the second quarter.”
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  • New positionKulicke & Soffa Industries
    June 2026
    “Nine positions were added to the strategy in the second quarter.”
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  • New positionSnowflake
    June 2026
    “Nine positions were added to the strategy in the second quarter.”
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  • TrimmedKennametal Inc.
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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  • TrimmedUFP Technologies
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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  • TrimmedPool
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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  • New positionCavco Industries
    June 2026
    “During the quarter four new positions were added to the portfolio.”
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  • New positionPepsiCo
    June 2026
    “PepsiCo was added to the portfolio as the company works to restage its brands and address changes in customer preferences.”
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  • New positionPhilip Morris
    June 2026
    “Philip Morris was added to the portfolio as the company continues to benefit from an increasing percentage of revenue from smoke free products and improved margins.”
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  • New positionSouthState Bank
    June 2026
    “SouthState Bank is a regional bank with $68 billion in assets with key markets in South Carolina, Florida, Georgia, Texas and Colorado.”
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  • ExitedWaters Corporation
    June 2026
    “Waters Corporation was also eliminated.”
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  • New positionFluor
    June 2026
    “Fluor is an engineering and construction firm with exposure to life sciences, mining & metals, energy and other infrastructure projects.”
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  • New positionTruist Financial
    June 2026
    “Truist Financial is a super-regional bank with $549B in assets.”
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  • ExitedTarget
    June 2026
    “Target rounded out the eliminations.”
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  • ExitedAdobe
    June 2026
    “Adobe was eliminated on concerns about potential AI disruption and management turnover.”
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  • ExitedNike
    June 2026
    “Nike was eliminated after a management change and earnings report suggested that the pace of its recovery was likely to be slower than expected.”
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  • ExitedPayPal
    June 2026
    “PayPal was eliminated after a change in management and a weak earnings report raised questions about its competitive position.”
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  • ExitedNovartis
    June 2026
    “Novartis was eliminated as the stock traded at a premium valuation relative to its earnings prospects.”
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  • ExitedRoyal Bank of Canada
    June 2026
    “Royal Bank of Canada was eliminated due to its valuation relative to peers after a period of outperformance.”
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  • ExitedAdvanced Micro Devices
    June 2026
    “Advanced Micro Devices was eliminated due to significant outperformance and valuation.”
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  • ExitedGenuine Parts
    June 2026
    “Genuine Parts was eliminated after a period of outperformance given the quality of its automotive business, the impending business separation and to fund other opportunities.”
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  • TrimmedEquitable Holdings, Inc.
    June 2026
    “Seven positions were eliminated from the portfolio during the quarter.”
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Showing the 30 most recent of 44 recorded moves.

Companies held · 80

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

Theses · 15

Letter archive · 7

2026

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