Tributary Capital Management
Tributary Capital Management Equity Income Strategy
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy and positions in 43 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Tributary Capital Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD
- YTD+13.8%index +19.3%
- 1Y+20.3%index +23.8%
Index: Russell 1000 Value Index
| YTD | 1Y | |
|---|---|---|
| Tributary Capital Management Equity Income Strategy | +13.8% | +20.3% |
| Russell 1000 Value Index | +19.3% | +23.8% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
Lazard is a financial advisory and asset management firm.
The stock sold off following an earnings preannouncement creating the opportunity to establish a position.
Charles Schwab was eliminated after a period of outperformance as fears of AI disintermediation dissipated.
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.
AECOM is an engineering and consulting company providing a range of design and engineering solutions and construction management services.
Prologis was eliminated given its valuation relative to other REITs.
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.
We established a position in the company after they reported improving trends in most of their end markets.
Accenture was eliminated after a period of strong outperformance despite weakening fundamentals.
Nokia is a network equipment provider with a growing network infrastructure business and improving fundamentals.
Capital One is the largest credit card issuer (by loans) in the United States.
Rayonier is a land resources REIT with a portfolio of over four million acres in the Southern and Northwestern U.S.
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.
Boston Scientific was eliminated following a decline in fundamentals and a cybersecurity incident that impacted its ability to process and ship customer orders.
We initiated a position in the stock as it was trading at depressed multiples amid signs of improving fundamentals.
TE Connectivity is a technology company that designs and manufactures connectivity and sensor solutions.
Nu Holdings was eliminated after a period of outperformance as it saw higher expenses and a decelerating rate of loan growth.
Kimberly-Clark is a leading consumer goods and personal care company with well-known brands such as Huggies, Kleenex, Scott, Kote and Depend.
Warner Bros. Discovery was eliminated as the risk/reward was diminished following a period of outperformance.
Blackrock is an investment management firm with over $15T in AUM and is one of the largest ETF providers in the world.
AstraZeneca is a UK-based biopharmaceutical company with a focus on oncology, diabetes, CNS disorders and cardiovascular, autoimmune and respiratory diseases.
Huntington Bancshares is a regional bank headquartered in Columbus, Ohio with $284B in assets.
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.