# Tributary Capital Management, LLC

> Tributary Capital Management, LLC is an SEC-registered investment advisory firm in Omaha, NE, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 27, 2026.

- CRD: 112528
- Filed as: TRIBUTARY CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Omaha, NE
- Filing period: October 2026
- Form ADV filing dated: April 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/112528
- AdvisorCensus page: https://advisorcensus.com/firm/tributary-capital-management-llc-omaha-ne-112528

## Quick answers

**How is Tributary Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Tributary Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Tributary Capital Management, LLC located?**
Tributary Capital Management, LLC's principal office is in Omaha, NE, according to its Form ADV; the May 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Tributary Capital Management, LLC registered with the SEC or a state?**
Tributary Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 112528.

**How much does Tributary Capital Management, LLC manage?**
Tributary Capital Management, LLC reports $1,900,964,335 in regulatory assets under management in its Form ADV filing dated April 27, 2026 (100% discretionary).

**How have Tributary Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Tributary Capital Management, LLC: Regulatory assets under management: $2,448,043,331 in the October 2021 data and $1,900,964,335 in the October 2026 data, down 22%. Total employees: 13 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Tributary Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (236); corporations or other businesses not listed above (16); individuals (other than high net worth individuals) (10).

**Which custodians does Tributary Capital Management, LLC use?**
Tributary Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab and First National Bank of Omaha (affiliated with the firm) as custodians holding 10% or more of its separately managed account assets.

**Does Tributary Capital Management, LLC report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct), 11.D(2) (another regulator's finding of a violation), and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/112528

**What changed in Tributary Capital Management, LLC's recent Form ADV filings?**
In the May 2026 filing data: Employees performing advisory functions went from 8 to 13. Added an office in Fort Collins, CO. Added an office in Kansas City, MO. Registered or notice-filed in KS, MO.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab
- First National Bank of Omaha (affiliated with the firm)

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,900,964,335
- Discretionary: $1,900,964,335
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 10 | $2,199,005 |
| High net worth individuals | 236 | $104,672,304 |
| Banking or thrift institutions | Fewer than 5 | $400,454,534 |
| Investment companies | 1 | $1,111,410,451 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | Not reported | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $23,252,833 |
| Charitable organizations | 8 | $71,708,167 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Fewer than 5 | $146,236,458 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | 16 | $41,030,583 |
| Other | Not reported | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2001 (25 years)
- Employees: 19 total, 13 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: CA, CO, CT, FL, IL, KS, LA, MA, MO, NE, NH, NJ, NY, OR, PA, TX, VA, WA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(1): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/112528

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Fort Collins, CO
- Kansas City, MO

### Websites listed on Form ADV (Item 1.I)
- tributarycapital.com
- LinkedIn @tributary-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,448,043,331 | 13 | March 18, 2021 |
| October 2022 | $2,405,694,650 | 13 | March 22, 2022 |
| October 2023 | $1,917,242,591 | 13 | March 23, 2023 |
| October 2024 | $2,134,689,805 | 16 | March 25, 2024 |
| October 2025 | $2,189,702,598 | 16 | March 26, 2025 |
| October 2026 | $1,900,964,335 | 19 | April 27, 2026 |

Regulatory assets under management: $2,448,043,331 in the October 2021 data and $1,900,964,335 in the October 2026 data, down 22%.
Total employees: 13 in October 2021 and 19 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Employees performing advisory functions went from 8 to 13.
- Added an office in Fort Collins, CO.
- Added an office in Kansas City, MO.
- Registered or notice-filed in KS, MO.

### April 2026
- Employees performing advisory functions went from 9 to 8.
- Regulatory assets under management went from $2,189,702,598 to $1,900,964,335 (-13%).
- Registered or notice-filed in IL, NH.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Tributary Capital Management, LLC (CRD 112528): Form ADV filing data as of October 2026.