Tributary Capital Management
Tributary Capital Management Equity Income Strategy
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy and positions in 15 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Tributary Capital Management for every strategy.
What it bought and sold
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.
PayPal was eliminated after a change in management and a weak earnings report raised questions about its competitive position.
Novartis was eliminated as the stock traded at a premium valuation relative to its earnings prospects.
Advanced Micro Devices was eliminated due to significant outperformance and valuation.
Nike was eliminated after a management change and earnings report suggested that the pace of its recovery was likely to be slower than expected.
Saia was eliminated after the stock significantly outperformed in response to PMI data and signs of an industry turnaround.
PepsiCo was added to the portfolio as the company works to restage its brands and address changes in customer preferences.
Apple is a global technology company that makes consumer electronics, including the iPhone, iPad, Mac and Apple Watch, along with a growing services business that includes the App Store, iCloud, Apple Music and Apple TV.
- ExitedRoyal Bank of CanadaJun 2026
Royal Bank of Canada was eliminated due to its valuation relative to peers after a period of outperformance.