# EDGAR Filing Document

**Accession Number:** 0001441888
**File Stem:** 0001441888-25-000006
**Filing Date:** 2025-10
**Character Count:** 22676
**Document Hash:** c26b1932ba5d3adbe5fbe767d273370a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001441888-25-000006.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001441888-25-000006

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**EFFECTIVENESS DATE**: 20251023

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tributary Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001441888

**ORGANIZATION NAME:**
- **EIN:** 201736988
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13245
- **FILM NUMBER:** 251411957

**BUSINESS ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** MS 3399
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197
- **BUSINESS PHONE:** 402-602-7200

**MAIL ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** MS 3399
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** Tributary Capital Management LLC<br>**Address:** 1620 DODGE STREET<br>MS 3399<br>OMAHA, NE 68197

**Form 13F File Number:** 028-13245

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:** Elizabeth Nelson<br>**Title:** Compliance Specialist<br>**Phone:** 4026023571

**Signature, Place, and Date of Signing:**

Elizabeth Nelson  Omaha, NE  10-23-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[ ] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[x] **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).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 190

**Form 13F Information Table Value Total:** $2108221178

      (round to nearest dollar)

**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.]

|   No. | Name                         | Form 13F File Number   | CRD Number   | SEC File Number   |
|---:|:---|:---|:---|:---|
|     1 | First National Advisers      | 028-22612              |  |  |
|     2 | First National Bank of Omaha | 028-00317              |  |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACUSHNET HLDGS CORP | COM | 005098108 |  | 17954211 | 228745 | SH |  | SOLE | 1 | 228745 | 0 | 0 |
| ADDUS HOMECARE CORP COM | COM | 006739106 |  | 23487207 | 199061 | SH |  | SOLE | 1 | 199061 | 0 | 0 |
| ADVANCED ENERGY INDS INC COM | COM | 007973100 |  | 29319719 | 172327 | SH |  | SOLE | 1 | 172327 | 0 | 0 |
| AGREE REALTY CORP | COM | 008492100 |  | 757571 | 10664 | SH |  | SOLE | 1 | 10664 | 0 | 0 |
| ALAMO GROUP INC | COM | 011311107 |  | 19447268 | 101871 | SH |  | SOLE | 1 | 101871 | 0 | 0 |
| AMBARELLA INC | COM | G037AX101 |  | 17485575 | 211895 | SH |  | SOLE | 1 | 211895 | 0 | 0 |
| AMN HEALTHCARE SERVICES INC | COM | 001744101 |  | 8052889 | 415955 | SH |  | SOLE | 1 | 415955 | 0 | 0 |
| ATLANTIC UNION BANKSHARES CO | COM | 04911A107 |  | 24954279 | 707120 | SH |  | SOLE | 1 | 707120 | 0 | 0 |
| BALCHEM CORP | COM | 057665200 |  | 17547866 | 116939 | SH |  | SOLE | 1 | 116939 | 0 | 0 |
| BALDWIN INSURANCE GROUP INC | COM | 05589G102 |  | 11501950 | 407726 | SH |  | SOLE | 1 | 407726 | 0 | 0 |
| BENCHMARK ELECTRS INC | COM | 08160H101 |  | 16952093 | 439743 | SH |  | SOLE | 1 | 439743 | 0 | 0 |
| BLACKBAUD INC COM | COM | 09227Q100 |  | 16197824 | 251871 | SH |  | SOLE | 1 | 251871 | 0 | 0 |
| BOOT BARN HOLDINGS INC | COM | 099406100 |  | 21455106 | 129466 | SH |  | SOLE | 1 | 129466 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS INC | COM | 11133T103 |  | 955538 | 4012 | SH |  | SOLE | 1 | 4012 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 522973 | 5576 | SH |  | SOLE | 1 | 5576 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 1438434 | 5652 | SH |  | SOLE | 1 | 5652 | 0 | 0 |
| CACI INTL INC | COM | 127190304 |  | 1315283 | 2637 | SH |  | SOLE | 1 | 2637 | 0 | 0 |
| CARETRUST REIT INC | COM | 14174T107 |  | 13158888 | 379437 | SH |  | SOLE | 1 | 379437 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 974708 | 2963 | SH |  | SOLE | 1 | 2963 | 0 | 0 |
| CASEY'S GENERAL STORES INC | COM | 147528103 |  | 1435913 | 2540 | SH |  | SOLE | 1 | 2540 | 0 | 0 |
| CASS INFORMATION SYSTEMS INC | COM | 14808P109 |  | 10837311 | 275548 | SH |  | SOLE | 1 | 275548 | 0 | 0 |
| CHESAPEAKE UTILITIES CORP | COM | 165303108 |  | 18226390 | 135321 | SH |  | SOLE | 1 | 135321 | 0 | 0 |
| COHU INC | COM | 192576106 |  | 15454724 | 760193 | SH |  | SOLE | 1 | 760193 | 0 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COM | 20603L102 |  | 10554283 | 504266 | SH |  | SOLE | 1 | 504266 | 0 | 0 |
| CONMED CORP | COM | 207410101 |  | 9774527 | 207836 | SH |  | SOLE | 1 | 207836 | 0 | 0 |
| CSW INDUSTRIALS INC | COM | 126402106 |  | 13891858 | 57227 | SH |  | SOLE | 1 | 57227 | 0 | 0 |
| CTS CORP | COM | 126501105 |  | 10562174 | 264451 | SH |  | SOLE | 1 | 264451 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 961677 | 7586 | SH |  | SOLE | 1 | 7586 | 0 | 0 |
| DIODES INC | COM | 254543101 |  | 17193215 | 323120 | SH |  | SOLE | 1 | 323120 | 0 | 0 |
| DOMINOS PIZZA INC COM | COM | 25754A201 |  | 606984 | 1406 | SH |  | SOLE | 1 | 1406 | 0 | 0 |
| DORMAN PRODUCTS INC | COM | 258278100 |  | 18268201 | 117194 | SH |  | SOLE | 1 | 117194 | 0 | 0 |
| EASTGROUP PPTYS INC COM | COM | 277276101 |  | 646912 | 3822 | SH |  | SOLE | 1 | 3822 | 0 | 0 |
| ENERSYS | COM | 29275Y102 |  | 14753825 | 130611 | SH |  | SOLE | 1 | 130611 | 0 | 0 |
| ENOVIS CORP | COM | 194014502 |  | 17513492 | 577241 | SH |  | SOLE | 1 | 577241 | 0 | 0 |
| ENPRO INC | COM | 29355X107 |  | 36130630 | 159870 | SH |  | SOLE | 1 | 159870 | 0 | 0 |
| EPLUS INC | COM | 294268107 |  | 10495065 | 147797 | SH |  | SOLE | 1 | 147797 | 0 | 0 |
| ESCO TECHNOLOGIES INC COM | COM | 296315104 |  | 32923715 | 155955 | SH |  | SOLE | 1 | 155955 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 19663490 | 446593 | SH |  | SOLE | 1 | 446593 | 0 | 0 |
| FIRST HORIZON SHS | COM | dca517101 |  | 16 | 72825 | SH |  | SOLE | 1 | 72825 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS INC | COM | 34964C106 |  | 723648 | 13554 | SH |  | SOLE | 1 | 13554 | 0 | 0 |
| FRANKLIN ELEC INC | COM | 353514102 |  | 14883764 | 156342 | SH |  | SOLE | 1 | 156342 | 0 | 0 |
| ICF INTERNATIONAL INC | COM | 44925C103 |  | 21556700 | 232292 | SH |  | SOLE | 1 | 232292 | 0 | 0 |
| ICON PLC SHS | COM | G4705A100 |  | 1028300 | 5876 | SH |  | SOLE | 1 | 5876 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 23081993 | 174665 | SH |  | SOLE | 1 | 174665 | 0 | 0 |
| INTEGER HOLDINGS CORP | COM | 45826H109 |  | 25820927 | 249888 | SH |  | SOLE | 1 | 249888 | 0 | 0 |
| INTER PARFUMS INC | COM | 458334109 |  | 11240890 | 114260 | SH |  | SOLE | 1 | 114260 | 0 | 0 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 885593 | 2969 | SH |  | SOLE | 1 | 2969 | 0 | 0 |
| KAISER ALUMINUM CORP | COM | 483007704 |  | 19306126 | 250209 | SH |  | SOLE | 1 | 250209 | 0 | 0 |
| KFORCE INC | COM | 493732101 |  | 12397423 | 413523 | SH |  | SOLE | 1 | 413523 | 0 | 0 |
| KORN FERRY COMMON STOCK | COM | 500643200 |  | 21386728 | 305612 | SH |  | SOLE | 1 | 305612 | 0 | 0 |
| LAMAR ADVERTISING CO | COM | 512816109 |  | 1056117 | 8627 | SH |  | SOLE | 1 | 8627 | 0 | 0 |
| LGI HOMES INC | COM | 50187T106 |  | 9981892 | 193036 | SH |  | SOLE | 1 | 193036 | 0 | 0 |
| LINCOLN ELECTRIC CO HOLDINGS | COM | 533900106 |  | 858893 | 3642 | SH |  | SOLE | 1 | 3642 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 16197249 | 62535 | SH |  | SOLE | 1 | 62535 | 0 | 0 |
| LIVERAMP HLDGS INC | COM | 53815P108 |  | 14371173 | 529520 | SH |  | SOLE | 1 | 529520 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 629494 | 3071 | SH |  | SOLE | 1 | 3071 | 0 | 0 |
| MARCUS  MILLICHAP INC | COM | 566324109 |  | 19651204 | 669547 | SH |  | SOLE | 1 | 669547 | 0 | 0 |
| MARKEL CORP | COM | 570535104 |  | 1318838 | 690 | SH |  | SOLE | 1 | 690 | 0 | 0 |
| MARZETTI COMPANY | COM | 513847103 |  | 777209 | 4498 | SH |  | SOLE | 1 | 4498 | 0 | 0 |
| MERCANTILE BANK CORP | COM | 587376104 |  | 11191558 | 248701 | SH |  | SOLE | 1 | 248701 | 0 | 0 |
| MOELIS  CO | COM | 60786M105 |  | 28299802 | 396800 | SH |  | SOLE | 1 | 396800 | 0 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 576568 | 3013 | SH |  | SOLE | 1 | 3013 | 0 | 0 |
| MONARCH CASINO  RESORT INC | COM | 609027107 |  | 20602074 | 194653 | SH |  | SOLE | 1 | 194653 | 0 | 0 |
| NETSTREIT CORP COM | COM | 64119V303 |  | 14086111 | 779962 | SH |  | SOLE | 1 | 779962 | 0 | 0 |
| NEXSTAR MEDIA GROUP INC | COM | 65336K103 |  | 759124 | 3839 | SH |  | SOLE | 1 | 3839 | 0 | 0 |
| NORTHERN OIL  GAS INC COMMON | COM | 665531307 |  | 16271974 | 656128 | SH |  | SOLE | 1 | 656128 | 0 | 0 |
| OLLIE'S BARGAIN OUTLET HLDGS | COM | 681116109 |  | 15924168 | 124020 | SH |  | SOLE | 1 | 124020 | 0 | 0 |
| ONTO INNOVATION INC | COM | 683344105 |  | 921597 | 7132 | SH |  | SOLE | 1 | 7132 | 0 | 0 |
| ORIGIN BANCORP INC | COM | 68621T102 |  | 13639439 | 395117 | SH |  | SOLE | 1 | 395117 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 19217668 | 185804 | SH |  | SOLE | 1 | 185804 | 0 | 0 |
| PERMIAN RESOURCES CORP | COM | 71424F105 |  | 964826 | 75377 | SH |  | SOLE | 1 | 75377 | 0 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 12171808 | 302706 | SH |  | SOLE | 1 | 302706 | 0 | 0 |
| PRESTIGE CONSUMER HEALTHCARE I | COM | 74112D101 |  | 11837592 | 189705 | SH |  | SOLE | 1 | 189705 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 1356377 | 6681 | SH |  | SOLE | 1 | 6681 | 0 | 0 |
| QUALYS INC | COM | 74758T303 |  | 754413 | 5701 | SH |  | SOLE | 1 | 5701 | 0 | 0 |
| RELIANCE STEEL  ALUMINUM CO C | COM | 759509102 |  | 644224 | 2294 | SH |  | SOLE | 1 | 2294 | 0 | 0 |
| REVVITY INC | COM | 714046109 |  | 841089 | 9596 | SH |  | SOLE | 1 | 9596 | 0 | 0 |
| ROBERT HALF INC | COM | 770323103 |  | 679838 | 20007 | SH |  | SOLE | 1 | 20007 | 0 | 0 |
| RPM INTL INC COM | COM | 749685103 |  | 977107 | 8289 | SH |  | SOLE | 1 | 8289 | 0 | 0 |
| SEACOAST BKG CORP FLA | COM | 811707801 |  | 22205719 | 729731 | SH |  | SOLE | 1 | 729731 | 0 | 0 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 22401677 | 276325 | SH |  | SOLE | 1 | 276325 | 0 | 0 |
| SIMULATIONS PLUS INC | COM | 829214105 |  | 8567138 | 568490 | SH |  | SOLE | 1 | 568490 | 0 | 0 |
| SM ENERGY CO | COM | 78454L100 |  | 14804239 | 592881 | SH |  | SOLE | 1 | 592881 | 0 | 0 |
| SOUTHSTATE BANK CORP | COM | 84472E102 |  | 1172895 | 11863 | SH |  | SOLE | 1 | 11863 | 0 | 0 |
| STEWART INFORMATION SERVICES C | COM | 860372101 |  | 20854566 | 284432 | SH |  | SOLE | 1 | 284432 | 0 | 0 |
| STIFEL FINL CORP | COM | 860630102 |  | 1334861 | 11764 | SH |  | SOLE | 1 | 11764 | 0 | 0 |
| SUNSTONE HOTEL INVS INC NEW CO | COM | 867892101 |  | 12610643 | 1345853 | SH |  | SOLE | 1 | 1345853 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 1093095 | 32747 | SH |  | SOLE | 1 | 32747 | 0 | 0 |
| TOPBUILD CORP COM | COM | 89055F103 |  | 784847 | 2008 | SH |  | SOLE | 1 | 2008 | 0 | 0 |
| TRACTOR SUPPLY CO COM | COM | 892356106 |  | 998978 | 17566 | SH |  | SOLE | 1 | 17566 | 0 | 0 |
| UMB FINANCIAL CORP | COM | 902788108 |  | 16436098 | 138877 | SH |  | SOLE | 1 | 138877 | 0 | 0 |
| UTZ BRANDS INC | COM | 918090101 |  | 10260529 | 844488 | SH |  | SOLE | 1 | 844488 | 0 | 0 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 14007488 | 1103821 | SH |  | SOLE | 1 | 1103821 | 0 | 0 |
| WALKER  DUNLOP INC | COM | 93148P102 |  | 13600071 | 162641 | SH |  | SOLE | 1 | 162641 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC C | COM | 98311A105 |  | 732443 | 9167 | SH |  | SOLE | 1 | 9167 | 0 | 0 |
| ACUSHNET HLDGS CORP | COM | 005098108 |  | 17954211 | 228745 | SH |  | SOLE |  | 228745 | 0 | 0 |
| ADDUS HOMECARE CORP COM | COM | 006739106 |  | 23487207 | 199061 | SH |  | SOLE |  | 199061 | 0 | 0 |
| ADVANCED ENERGY INDS INC COM | COM | 007973100 |  | 29319719 | 172327 | SH |  | SOLE |  | 172327 | 0 | 0 |
| AGREE REALTY CORP | COM | 008492100 |  | 757571 | 10664 | SH |  | SOLE |  | 10664 | 0 | 0 |
| ALAMO GROUP INC | COM | 011311107 |  | 19447268 | 101871 | SH |  | SOLE |  | 101871 | 0 | 0 |
| AMBARELLA INC | COM | G037AX101 |  | 17485575 | 211895 | SH |  | SOLE |  | 211895 | 0 | 0 |
| AMN HEALTHCARE SERVICES INC | COM | 001744101 |  | 8052889 | 415955 | SH |  | SOLE |  | 415955 | 0 | 0 |
| ATLANTIC UNION BANKSHARES CO | COM | 04911A107 |  | 24954279 | 707120 | SH |  | SOLE |  | 707120 | 0 | 0 |
| BALCHEM CORP | COM | 057665200 |  | 17547866 | 116939 | SH |  | SOLE |  | 116939 | 0 | 0 |
| BALDWIN INSURANCE GROUP INC | COM | 05589G102 |  | 11501950 | 407726 | SH |  | SOLE |  | 407726 | 0 | 0 |
| BENCHMARK ELECTRS INC | COM | 08160H101 |  | 16952093 | 439743 | SH |  | SOLE |  | 439743 | 0 | 0 |
| BLACKBAUD INC COM | COM | 09227Q100 |  | 16197824 | 251871 | SH |  | SOLE |  | 251871 | 0 | 0 |
| BOOT BARN HOLDINGS INC | COM | 099406100 |  | 21455106 | 129466 | SH |  | SOLE |  | 129466 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS INC | COM | 11133T103 |  | 955538 | 4012 | SH |  | SOLE |  | 4012 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 522973 | 5576 | SH |  | SOLE |  | 5576 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 1438434 | 5652 | SH |  | SOLE |  | 5652 | 0 | 0 |
| CACI INTL INC | COM | 127190304 |  | 1315283 | 2637 | SH |  | SOLE |  | 2637 | 0 | 0 |
| CARETRUST REIT INC | COM | 14174T107 |  | 13158888 | 379437 | SH |  | SOLE |  | 379437 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 974708 | 2963 | SH |  | SOLE |  | 2963 | 0 | 0 |
| CASEY'S GENERAL STORES INC | COM | 147528103 |  | 1435913 | 2540 | SH |  | SOLE |  | 2540 | 0 | 0 |
| CASS INFORMATION SYSTEMS INC | COM | 14808P109 |  | 10837311 | 275548 | SH |  | SOLE |  | 275548 | 0 | 0 |
| CHESAPEAKE UTILITIES CORP | COM | 165303108 |  | 18226390 | 135321 | SH |  | SOLE |  | 135321 | 0 | 0 |
| COHU INC | COM | 192576106 |  | 15454724 | 760193 | SH |  | SOLE |  | 760193 | 0 | 0 |
| CONCENTRA GROUP HOLDINGS PAR | COM | 20603L102 |  | 10554283 | 504266 | SH |  | SOLE |  | 504266 | 0 | 0 |
| CONMED CORP | COM | 207410101 |  | 9774527 | 207836 | SH |  | SOLE |  | 207836 | 0 | 0 |
| CSW INDUSTRIALS INC | COM | 126402106 |  | 13891858 | 57227 | SH |  | SOLE |  | 57227 | 0 | 0 |
| CTS CORP | COM | 126501105 |  | 10562174 | 264451 | SH |  | SOLE |  | 264451 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 961677 | 7586 | SH |  | SOLE |  | 7586 | 0 | 0 |
| DIODES INC | COM | 254543101 |  | 17193215 | 323120 | SH |  | SOLE |  | 323120 | 0 | 0 |
| DOMINOS PIZZA INC COM | COM | 25754A201 |  | 606984 | 1406 | SH |  | SOLE |  | 1406 | 0 | 0 |
| DORMAN PRODUCTS INC | COM | 258278100 |  | 18268201 | 117194 | SH |  | SOLE |  | 117194 | 0 | 0 |
| EASTGROUP PPTYS INC COM | COM | 277276101 |  | 646912 | 3822 | SH |  | SOLE |  | 3822 | 0 | 0 |
| ENERSYS | COM | 29275Y102 |  | 14753825 | 130611 | SH |  | SOLE |  | 130611 | 0 | 0 |
| ENOVIS CORP | COM | 194014502 |  | 17513492 | 577241 | SH |  | SOLE |  | 577241 | 0 | 0 |
| ENPRO INC | COM | 29355X107 |  | 36130630 | 159870 | SH |  | SOLE |  | 159870 | 0 | 0 |
| EPLUS INC | COM | 294268107 |  | 10495065 | 147797 | SH |  | SOLE |  | 147797 | 0 | 0 |
| ESCO TECHNOLOGIES INC COM | COM | 296315104 |  | 32923715 | 155955 | SH |  | SOLE |  | 155955 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 19663490 | 446593 | SH |  | SOLE |  | 446593 | 0 | 0 |
| FIRST HORIZON SHS | COM | dca517101 |  | 16 | 72825 | SH |  | SOLE |  | 72825 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS INC | COM | 34964C106 |  | 723648 | 13554 | SH |  | SOLE |  | 13554 | 0 | 0 |
| FRANKLIN ELEC INC | COM | 353514102 |  | 14883764 | 156342 | SH |  | SOLE |  | 156342 | 0 | 0 |
| ICF INTERNATIONAL INC | COM | 44925C103 |  | 21556700 | 232292 | SH |  | SOLE |  | 232292 | 0 | 0 |
| ICON PLC SHS | COM | G4705A100 |  | 1028300 | 5876 | SH |  | SOLE |  | 5876 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 23081993 | 174665 | SH |  | SOLE |  | 174665 | 0 | 0 |
| INTEGER HOLDINGS CORP | COM | 45826H109 |  | 25820927 | 249888 | SH |  | SOLE |  | 249888 | 0 | 0 |
| INTER PARFUMS INC | COM | 458334109 |  | 11240890 | 114260 | SH |  | SOLE |  | 114260 | 0 | 0 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 885593 | 2969 | SH |  | SOLE |  | 2969 | 0 | 0 |
| KAISER ALUMINUM CORP | COM | 483007704 |  | 19306126 | 250209 | SH |  | SOLE |  | 250209 | 0 | 0 |
| KFORCE INC | COM | 493732101 |  | 12397423 | 413523 | SH |  | SOLE |  | 413523 | 0 | 0 |
| KORN FERRY COMMON STOCK | COM | 500643200 |  | 21386728 | 305612 | SH |  | SOLE |  | 305612 | 0 | 0 |
| LAMAR ADVERTISING CO | COM | 512816109 |  | 1056117 | 8627 | SH |  | SOLE |  | 8627 | 0 | 0 |
| LGI HOMES INC | COM | 50187T106 |  | 9981892 | 193036 | SH |  | SOLE |  | 193036 | 0 | 0 |
| LINCOLN ELECTRIC CO HOLDINGS | COM | 533900106 |  | 858893 | 3642 | SH |  | SOLE |  | 3642 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 16197249 | 62535 | SH |  | SOLE |  | 62535 | 0 | 0 |
| LIVERAMP HLDGS INC | COM | 53815P108 |  | 14371173 | 529520 | SH |  | SOLE |  | 529520 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 629494 | 3071 | SH |  | SOLE |  | 3071 | 0 | 0 |
| MARCUS  MILLICHAP INC | COM | 566324109 |  | 19651204 | 669547 | SH |  | SOLE |  | 669547 | 0 | 0 |
| MARKEL CORP | COM | 570535104 |  | 1318838 | 690 | SH |  | SOLE |  | 690 | 0 | 0 |
| MARZETTI COMPANY | COM | 513847103 |  | 777209 | 4498 | SH |  | SOLE |  | 4498 | 0 | 0 |
| MERCANTILE BANK CORP | COM | 587376104 |  | 11191558 | 248701 | SH |  | SOLE |  | 248701 | 0 | 0 |
| MOELIS  CO | COM | 60786M105 |  | 28299802 | 396800 | SH |  | SOLE |  | 396800 | 0 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 576568 | 3013 | SH |  | SOLE |  | 3013 | 0 | 0 |
| MONARCH CASINO  RESORT INC | COM | 609027107 |  | 20602074 | 194653 | SH |  | SOLE |  | 194653 | 0 | 0 |
| NETSTREIT CORP COM | COM | 64119V303 |  | 14086111 | 779962 | SH |  | SOLE |  | 779962 | 0 | 0 |
| NEXSTAR MEDIA GROUP INC | COM | 65336K103 |  | 759124 | 3839 | SH |  | SOLE |  | 3839 | 0 | 0 |
| NORTHERN OIL  GAS INC COMMON | COM | 665531307 |  | 16271974 | 656128 | SH |  | SOLE |  | 656128 | 0 | 0 |
| OLLIE'S BARGAIN OUTLET HLDGS | COM | 681116109 |  | 15924168 | 124020 | SH |  | SOLE |  | 124020 | 0 | 0 |
| ONTO INNOVATION INC | COM | 683344105 |  | 921597 | 7132 | SH |  | SOLE |  | 7132 | 0 | 0 |
| ORIGIN BANCORP INC | COM | 68621T102 |  | 13639439 | 395117 | SH |  | SOLE |  | 395117 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 19217668 | 185804 | SH |  | SOLE |  | 185804 | 0 | 0 |
| PERMIAN RESOURCES CORP | COM | 71424F105 |  | 964826 | 75377 | SH |  | SOLE |  | 75377 | 0 | 0 |
| POWER INTEGRATIONS INC | COM | 739276103 |  | 12171808 | 302706 | SH |  | SOLE |  | 302706 | 0 | 0 |
| PRESTIGE CONSUMER HEALTHCARE I | COM | 74112D101 |  | 11837592 | 189705 | SH |  | SOLE |  | 189705 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 1356377 | 6681 | SH |  | SOLE |  | 6681 | 0 | 0 |
| QUALYS INC | COM | 74758T303 |  | 754413 | 5701 | SH |  | SOLE |  | 5701 | 0 | 0 |
| RELIANCE STEEL  ALUMINUM CO C | COM | 759509102 |  | 644224 | 2294 | SH |  | SOLE |  | 2294 | 0 | 0 |
| REVVITY INC | COM | 714046109 |  | 841089 | 9596 | SH |  | SOLE |  | 9596 | 0 | 0 |
| ROBERT HALF INC | COM | 770323103 |  | 679838 | 20007 | SH |  | SOLE |  | 20007 | 0 | 0 |
| RPM INTL INC COM | COM | 749685103 |  | 977107 | 8289 | SH |  | SOLE |  | 8289 | 0 | 0 |
| SEACOAST BKG CORP FLA | COM | 811707801 |  | 22205719 | 729731 | SH |  | SOLE |  | 729731 | 0 | 0 |
| SELECTIVE INS GROUP INC | COM | 816300107 |  | 22401677 | 276325 | SH |  | SOLE |  | 276325 | 0 | 0 |
| SIMULATIONS PLUS INC | COM | 829214105 |  | 8567138 | 568490 | SH |  | SOLE |  | 568490 | 0 | 0 |
| SM ENERGY CO | COM | 78454L100 |  | 14804239 | 592881 | SH |  | SOLE |  | 592881 | 0 | 0 |
| SOUTHSTATE BANK CORP | COM | 84472E102 |  | 1172895 | 11863 | SH |  | SOLE |  | 11863 | 0 | 0 |
| STEWART INFORMATION SERVICES C | COM | 860372101 |  | 20854566 | 284432 | SH |  | SOLE |  | 284432 | 0 | 0 |
| STIFEL FINL CORP | COM | 860630102 |  | 1334861 | 11764 | SH |  | SOLE |  | 11764 | 0 | 0 |
| SUNSTONE HOTEL INVS INC NEW CO | COM | 867892101 |  | 12610643 | 1345853 | SH |  | SOLE |  | 1345853 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 1093095 | 32747 | SH |  | SOLE |  | 32747 | 0 | 0 |
| TOPBUILD CORP COM | COM | 89055F103 |  | 784847 | 2008 | SH |  | SOLE |  | 2008 | 0 | 0 |
| TRACTOR SUPPLY CO COM | COM | 892356106 |  | 998978 | 17566 | SH |  | SOLE |  | 17566 | 0 | 0 |
| UMB FINANCIAL CORP | COM | 902788108 |  | 16436098 | 138877 | SH |  | SOLE |  | 138877 | 0 | 0 |
| UTZ BRANDS INC | COM | 918090101 |  | 10260529 | 844488 | SH |  | SOLE |  | 844488 | 0 | 0 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 14007488 | 1103821 | SH |  | SOLE |  | 1103821 | 0 | 0 |
| WALKER  DUNLOP INC | COM | 93148P102 |  | 13600071 | 162641 | SH |  | SOLE |  | 162641 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC C | COM | 98311A105 |  | 732443 | 9167 | SH |  | SOLE |  | 9167 | 0 | 0 |

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