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Tributary Capital Management, LLC
Mark Wynegar · Investment Advisor · Value
Tributary Capital Management, LLC is a boutique investment management firm headquartered in Omaha, Nebraska, and operates as a wholly owned subsidiary of First National Bank of Omaha. Formed in 2005 and later merging with First Investment Group in 2010, the firm provides specialized advisory services to institutional and retail investors. Tributary is particularly focused on capacity-constrained asset classes, managing various equity strategies including small-cap, mid-cap, and all-cap portfolios. The firm also serves as the investment advisor for the Tributary Funds family of mutual funds, leveraging a long-tenured investment team to deliver consistent results through full market cycles.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +37.8% |
| YTD return | +30.2% |
| Sharpe ratio | 4.38 |
| Win rate | 52% |
| AUM | $0.5B |
| Inception | Oct 1, 2025 |
| Updated | Aug 20, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.5B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://tributarycapital.com |
Current Holdings
Updated on Aug 20, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NPO | Enpro Industries | 8.1% | +25.8% |
| DIOD | Diodes Incorporated | 6.8% | +33.6% |
| ESE | ESCO Technologies Inc | 6.1% | +22.2% |
| MC | Moelis & Co | 5.9% | -0.1% |
| COHU | Cohu Inc | 5.8% | +51.0% |
| BHE | Benchmark Electronics Inc | 5.6% | +62.0% |
| SBCF | Seacoast Banking Corporation of Florida | 5.6% | +10.2% |
| AUB | Atlantic Union Bankshares Corp | 5.1% | +11.6% |
| CON | Concentra Group Holdings Parent, Inc. | 4.6% | +20.1% |
| MMI | Marcus & Millichap Inc | 4.5% | +7.1% |
| SIGI | Selective Insurance Group Inc | 4.5% | +8.3% |
| FBK | FB Financial Corp | 4.5% | -2.5% |
| KFY | Korn Ferry | 4.3% | +13.3% |
| IDA | IDACORP Inc | 4.3% | +3.6% |
| LFUS | Littelfuse Inc | 4.2% | +22.6% |
| POWI | Power Integrations Inc | 4.1% | -24.9% |
| QLYS | Qualys Inc | 4.1% | -4.3% |
| KFRC | Kforce Inc. | 4.1% | +3.3% |
| ADUS | Addus HomeCare Corporation | 4.0% | +5.2% |
| DORM | Dorman Products Inc | 3.9% | -5.2% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 17, 2026 | SELL | COHU | 5.4% → 5.8% |
| Aug 17, 2026 | BUY | QLYS | 0.0% → 4.1% |
| Aug 17, 2026 | SELL | DIOD | 6.6% → 6.8% |
| Aug 17, 2026 | BUY | AUB | 5.1% → 5.1% |
| Aug 17, 2026 | BUY | ADUS | 4.1% → 4.0% |
Investment Style Analysis
Tributary Capital Management, LLC is widely recognized for employing a Value strategy. As of Aug 20, 2026, the firm oversees approximately $0.5B in assets under management (AUM). The portfolio demonstrates a clear preference for the Banks - Regional and Semiconductors sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 17, Tributary Capital Management, LLC made a significant move by reducing the position in COHU. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Tributary Capital Management’s investment philosophy is based on a fundamental, bottom-up research process aimed at identifying high-quality companies with attractive valuations. The firm believes that long-term investment success is achieved by owning good businesses rather than frequently trading securities. Their strategy focuses on purchasing companies with durable competitive advantages and strong financial health that are priced below their intrinsic value. By maintaining a disciplined, long-view approach, Tributary seeks to own companies that can withstand market volatility and provide capital appreciation over time.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Tributary Capital Management, LLC.
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Frequently asked questions
How is the simulated portfolio for Tributary Capital Management, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Tributary Capital Management, LLC's largest holding?
As of the latest filing, Tributary Capital Management, LLC's top position is Enpro Industries (NPO), representing 8.1% of the portfolio. This reflects a high-conviction bet by the institution.
What is Tributary Capital Management, LLC's historical performance and risk profile?
Our simulation indicates a total return of +37.8% with a win rate of 52%. Notably, the portfolio maintains a Sharpe Ratio of 4.38, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Tributary Capital Management, LLC primarily invest in?
Tributary Capital Management, LLC has a strong preference for the Banks - Regional sector, which makes up 15.2% of their disclosed assets. The portfolio also has exposure to Semiconductors, indicating a specific thematic focus.
Is Tributary Capital Management, LLC's portfolio concentrated or diversified?
Tributary Capital Management, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 21.0% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Tributary Capital Management, LLC performed in 2026?
Our AI-simulated model portfolio for Tributary Capital Management, LLC tracks a Year-to-Date (YTD) return of +30.2%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Mark Wynegar manage Tributary Capital Management, LLC directly?
Yes, Mark Wynegar serves as the key portfolio manager for Tributary Capital Management, LLC, overseeing the investment strategy and final capital allocation decisions.