Tributary Capital Management, LLC is a boutique equity firm focused on delivering above average returns with below average risk by investing with an owner’s mindset in quality businesses at attractive prices. The senior management team has an average of 27 years of industry experience and 16 years with the firm. Their considerable experience and long tenure with the firm provides a consistent and thoughtful application of the firm’s investment philosophy.
Tributary’s Investment Philosophy and Process
Tributary’s strategies are built on our core belief that quality businesses, trading at a discount to fair value, provides the best opportunity to generate consistent excess returns. While there are many characteristics of quality businesses, we believe they possess two key attributes: their intrinsic value will grow over time, providing a powerful “wealth compounding” effect, and they reduce the risk of permanent loss of capital. However, merely owning a good business does not assure success, it is also dependent upon the price paid.
Our approach incorporates value investing principles. We believe stocks trading at a discount to fair or intrinsic value exhibit attractive traits: they offer the potential for excess returns as the valuation gap closes, and they introduce a margin of safety, which reduces price risk in the event of unexpected developments.
Combining these concepts is the essence of our strategy. We invest in good businesses at discounted prices and expect to hold those companies for long periods of time. Applied across a diversified portfolio, we believe this philosophy will generate greater long-term, risk-adjusted returns.
Tributary employs a team approach to assess investments which leverages the knowledge and experience of our entire investment team. This is a valuable aspect of our process and a key tool in thoroughly understanding the risks and opportunities associated with an investment. Portfolio managers have the final decision for all buy and sell decisions, sizing and portfolio construction. Our portfolios tend to be fairly concentrated, striking a balance that allows stock selection to drive performance, while managing company-specific risk.
Tributary Capital Management implements our core-value style in managing Small, Small/Mid, Large, Equity Income and All Cap Strategies. All of our strategies are offered via separate accounts and model based delivery. The Small and Small/Mid Cap Strategies are also available in a mutual fund format through our mutual fund family, Tributary Funds.
Tributary Capital Management is a SEC registered investment adviser headquartered in Omaha, Nebraska.
Director of Sales & Client Service
Tributary Capital Management, Advisor to the Tributary Family of Funds
1620 Dodge Street | Stop 1089 | Omaha | Nebraska 68197