Tributary Small/Mid Cap Fund Institutional Plus Class (FSMBX)

Fund Assets	14.49M
Expense Ratio	0.90%
Min. Investment	$5,000,000
Turnover	n/a
Dividend (ttm)	0.04
Dividend Yield	0.25%
Dividend Growth	-82.52%
Payout Frequency	n/a
Ex-Dividend Date	Dec 14, 2023

Previous Close	17.44
YTD Return	11.60%
1-Year Return	32.78%
5-Year Return	76.83%
52-Week Low	13.08
52-Week High	17.75
Beta (5Y)	n/a
Holdings	57
Inception Date	Aug 1, 2019

About FSMBX

Under normal market conditions, the Advisor intends to invest at least 80% of its assets in common stocks and securities that can be converted into common stocks, such as convertible bonds, convertible preferred stocks, options, and rights of companies with small- or mid-market capitalizations. The advisor defines small- and mid-market capitalization companies as companies with market capitalizations of up to $30 billion.

• Fund Family: Tributary Funds
• Category: Small Blend
• Performance Rating: High
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: FSMBX
• Index: Russell 2500 TR

Performance

FSMBX had a total return of 32.78% in the past year. Since the fund's inception, the average annual return has been 12.34%, including dividends.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FSMCX	Institutional Class	0.94%

Top 10 Holdings

26.01% of assets

Name	Symbol	Weight
Burlington Stores, Inc.	BURL	3.12%
Tractor Supply Company	TSCO	2.93%
Tetra Tech, Inc.	TTEK	2.82%
Stifel Financial Corp.	SF	2.82%
Ollie's Bargain Outlet Holdings, Inc.	OLLI	2.50%
Revvity, Inc.	RVTY	2.46%
ICF International, Inc.	ICFI	2.45%
Carlisle Companies Incorporated	CSL	2.43%
Littelfuse, Inc.	LFUS	2.28%
Jones Lang LaSalle Incorporated	JLL	2.20%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 14, 2023	$0.04307	Dec 15, 2023
Dec 15, 2022	$0.24644	Dec 16, 2022
Dec 10, 2020	$0.02855	Dec 11, 2020
Dec 12, 2019	$0.02354	Dec 13, 2019