Tributary Small/Mid Cap Instl Plus (FSMBX)

Fund Assets	18.38M
Expense Ratio	0.876%
Min. Investment	$5,000,000
Turnover	35.00%
Dividend (ttm)	0.10
Dividend Yield	0.55%
Dividend Growth	318.87%
Payout Frequency	Annual
Ex-Dividend Date	Dec 11, 2025

Previous Close	17.90
YTD Return	11.88%
1-Year Return	9.33%
5-Year Return	25.67%
52-Week Low	15.44
52-Week High	19.15
Beta (5Y)	n/a
Holdings	59
Inception Date	Aug 1, 2019

About FSMBX

The Tributary Small/Mid Cap Fund Institutional Plus Class is a U.S. mutual fund that targets long-term capital appreciation through investments in small- and mid-capitalization companies. Its primary objective is to deliver above-average performance while managing for below-average risk, leveraging a rigorous, research-driven, bottom-up approach to stock selection. The fund focuses on quality businesses trading at discounts to fair value, building a diversified portfolio mostly comprised of U.S.-listed equities with market capitalizations no larger than the maximum in the Russell 2500 Index, though holdings can extend up to $30 billion in market cap. Designed for institutional investors, the Institutional Plus Class requires a substantial minimum investment and features a competitive net expense ratio. With a portfolio of around 56 holdings, the fund actively manages exposures across sectors, emphasizing companies with robust business models and attractive valuations. Since its inception, the fund has positioned itself as a specialized vehicle for accessing the growth potential and relative inefficiencies present in the small- and mid-cap segments of the equity market.

• Fund Family: Tributary Funds
• Category: Small Blend
• Performance Rating: Below Average
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: FSMBX
• Share Class: Institutional Plus Class
• Index: Russell 2500 TR

Performance

FSMBX had a total return of 9.33% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.45%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
FSMCX	Institutional Class	0.91%

Top 10 Holdings

25.54% of assets

Name	Symbol	Weight
Littelfuse, Inc.	LFUS	3.00%
CACI International Inc	CACI	2.82%
Stifel Financial Corp.	SF	2.62%
Onto Innovation Inc.	ONTO	2.59%
SouthState Bank Corporation	SSB	2.58%
Enpro Inc.	NPO	2.52%
IDACORP, Inc.	IDA	2.51%
ICON Public Limited Company	ICLR	2.37%
Permian Resources Corporation	PR	2.29%
Lamar Advertising Company	LAMR	2.22%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 11, 2025	$0.09747	Dec 12, 2025
Dec 12, 2024	$0.02327	Dec 13, 2024
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

Data Sources: Tiingo, Alpha Vantage, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Alpha Vantage. Several fund data points are also provided by Finnhub.

Last checked:

Oct 17, 2026

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