# EDGAR Filing Document

**Accession Number:** 0000932381
**File Stem:** 0000932381-26-000097
**Filing Date:** 2026-5
**Character Count:** 24637
**Document Hash:** d162a85041433b354ed4007f5a29c90a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000932381-26-000097.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0000932381-26-000097

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tributary Funds, Inc.
- **CENTRAL INDEX KEY:** 0000932381

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08846
- **FILM NUMBER:** 261024786

**BUSINESS ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** STOP 1075
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197
- **BUSINESS PHONE:** 1-800-662-4203

**MAIL ADDRESS:**
- **STREET 1:** 1620 DODGE STREET
- **STREET 2:** STOP 1075
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68197

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST FOCUS FUNDS INC
- **DATE OF NAME CHANGE:** 20010731

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST OMAHA FUNDS INC
- **DATE OF NAME CHANGE:** 19941103

## Series and Classes Contracts Data

### Small Company Fund (Series ID: S000022139)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000063513 | Institutional      | FOSCX           |
| C000091259 | Institutional Plus | FOSBX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** TRIBUTARY CAPITAL MANAGEMENT, LLC

- **b. Investment Company Act file number:** 811-08846

- **c. CIK number of Registrant:** 0000932381

- **d. LEI of Registrant:** 2549000T9YMVQWFGOI81

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1620 DODGE STREET

  - **City:** OMAHA

  - **State:** NE

  - **Foreign country:** US

  - **Zip / Postal Code:** 68197

  - **Telephone number:** 800-662-4203

**Item A.2. Information about the Series.**

- **a. Name of Series:** TRIBUTARY SMALL COMPANY FUND

- **b. EDGAR series identifier (if any):** S000022139

- **c. LEI of Series:** 254900F3O2YJ4STYZ694

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $570358249.10

**Total Liabilities:** $566424.80

**Net Assets:** $569791824.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000063513 | 7.80%                | 2.24%                | -4.58%               |
| Class ID C000091259 | 7.79%                | 2.30%                | -4.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15692863.34             | $27895367.05                               |
| Month 2  | $8047278.57              | $5252853.41                                |
| Month 3  | $-772622.76              | $-27776758.94                              |

### Schedule of Portfolio Investments

| Name                           | Title                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMN Healthcare Services Inc    | AMN Healthcare Services, Inc.                                    | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |    344727 | NS      | $6322293.18   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Acushnet Holdings Corp         | Acushnet Holdings Corp.                                          | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Long             | EC               | CORP              | US        |    104118 | NS      | $9732950.64   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp            | Addus HomeCare Corp.                                             | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |    107309 | NS      | $10049487.85  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries, Inc.                                 | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     47504 | NS      | $15330015.84  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                | Alamo Group, Inc.                                                | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |     54967 | NS      | $9067905.99   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp | Atlantic Union Bankshares Corp.                                  | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    366807 | NS      | $13109682.18  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Baldwin Insurance Group Inc/Th | The Baldwin Insurance Group, Inc.                                | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    219868 | NS      | $4823903.92   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp.                                                    | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     66496 | NS      | $11269742.08  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics Inc      | Benchmark Electronics, Inc.                                      | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |    237264 | NS      | $13301019.84  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackbaud Inc                  | Blackbaud, Inc.                                                  | CUSIP: 09227Q100<br>LEI: 54930056X3HKFMNG3754 | Long             | EC               | CORP              | US        |    124186 | NS      | $4794821.46   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BlackRock Liquidity Funds T-Fund Portfolio, Institutional Shares | CUSIP: 09248U718<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   8552619 | NS      | $8552619.16   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.                                         | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     48945 | NS      | $7163590.20   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc            | CSW Industrials, Inc.                                            | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |     34329 | NS      | $8945450.82   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc   | Cass Information Systems, Inc.                                   | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |    148586 | NS      | $6540755.72   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp      | Chesapeake Utilities Corp.                                       | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     72980 | NS      | $9222482.60   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                       | Cohu, Inc.                                                       | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |    410039 | NS      | $12555394.18  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corp                    | Enovis Corp.                                                     | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |    268103 | NS      | $6099343.25   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren | Concentra Group Holdings Parent, Inc.                            | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    406848 | NS      | $8726889.60   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED Corp                    | CONMED Corp.                                                     | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |    142250 | NS      | $5029960.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes, Inc.                                                     | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |    193465 | NS      | $13205920.90  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc            | Dorman Products, Inc.                                            | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |     82950 | NS      | $8656662.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                                          | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     56820 | NS      | $9870770.40   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                      | Enpro, Inc.                                                      | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     71488 | NS      | $17918467.20  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                      | ePlus, Inc.                                                      | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |    109162 | NS      | $8214440.50   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies, Inc.                                          | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     84097 | NS      | $23662372.89  | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings, Inc.                                        | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |    307465 | NS      | $9362309.25   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp              | FB Financial Corp.                                               | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |    165239 | NS      | $8582513.66   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc       | Franklin Electric Co., Inc.                                      | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     80546 | NS      | $7423924.82   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                  | Frontdoor, Inc.                                                  | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     99641 | NS      | $5267023.26   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp           | Gulfport Energy Corp.                                            | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     32836 | NS      | $6947112.52   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc          | ICF International, Inc.                                          | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |    119713 | NS      | $7816061.77   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                    | IDACORP, Inc.                                                    | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     88421 | NS      | $12641550.37  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp          | Integer Holdings Corp.                                           | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     86025 | NS      | $7570200.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums Inc               | Interparfums, Inc.                                               | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68091 | NS      | $6185386.44   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp           | Kaiser Aluminum Corp.                                            | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105147 | NS      | $12671264.97  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                     | Kforce, Inc.                                                     | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |    201077 | NS      | $5879491.48   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                     | Korn Ferry                                                       | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |    164747 | NS      | $10370823.65  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| The Marzetti Co.               | The Marzetti Co.                                                 | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     59919 | NS      | $8288595.27   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse, Inc.                                                 | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     31035 | NS      | $10531727.25  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LiveRamp Holdings Inc          | LiveRamp Holdings, Inc.                                          | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |    307105 | NS      | $8144424.60   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus & Millichap Inc         | Marcus & Millichap, Inc.                                         | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |    454816 | NS      | $12093557.44  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp               | McGrath RentCorp                                                 | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |     51210 | NS      | $5647438.80   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp           | Mercantile Bank Corp.                                            | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |    134072 | NS      | $6770636.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                    | Moelis & Co.                                                     | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |    272311 | NS      | $15521727.00  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc    | Monarch Casino & Resort, Inc.                                    | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |    104839 | NS      | $10022608.40  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                 | NETSTREIT Corp.                                                  | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |    322236 | NS      | $6067703.88   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas Inc         | Northern Oil & Gas, Inc.                                         | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |    513694 | NS      | $15015275.62  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holding | Ollie's Bargain Outlet Holdings, Inc.                            | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     72356 | NS      | $6659646.24   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Bancorp Inc             | Origin Bancorp, Inc.                                             | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |    213074 | NS      | $8834048.04   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc         | Patrick Industries, Inc.                                         | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |     83737 | NS      | $9300668.59   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations, Inc.                                         | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |    176110 | NS      | $9016832.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Preformed Line Products Co     | Preformed Line Products Co.                                      | CUSIP: 740444104<br>LEI: 549300EYH53XDJID2098 | Long             | EC               | CORP              | US        |     23521 | NS      | $6368310.75   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare I | Prestige Consumer Healthcare, Inc.                               | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155431 | NS      | $9212395.37   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                     | Qualys, Inc.                                                     | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     57695 | NS      | $5068505.75   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp of Flori | Seacoast Banking Corp. of Florida                                | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    472730 | NS      | $14318991.70  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc  | Selective Insurance Group, Inc.                                  | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |    142770 | NS      | $10763430.30  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Simulations Plus Inc           | Simulations Plus, Inc.                                           | CUSIP: 829214105<br>LEI: 529900KYRDJAQ8TJCG93 | Long             | EC               | CORP              | US        |    312988 | NS      | $3699518.16   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services C | Stewart Information Services Corp.                               | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |    153372 | NS      | $9444647.76   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc   | Sunstone Hotel Investors, Inc.                                   | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |   1055644 | NS      | $9511352.44   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions, Inc.                                            | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |    489015 | NS      | $16274419.20  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Tributary Funds, Inc.

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer