NPORT-P false 0000932381 XXXXXXXX S000022136 C000063510 C000091256 TRIBUTARY CAPITAL MANAGEMENT, LLC 811-08846 0000932381 2549000T9YMVQWFGOI81 1620 DODGE STREET OMAHA 68197 800-662-4203 TRIBUTARY BALANCED FUND S000022136 254900MJ8XBXLU792078 2027-03-31 2026-06-30 N 81184990.01 85076.05 81099913.96 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 USD N Walt Disney Co/The 549300GZKULIZ0WOW665 254687106 8729.00000000 NS USD 840166.25000000 1.035964415960 Long EC CORP US N 1 N N N CF Hippolyta Issuer LLC N/A 12530MAA3 227676.44000000 PA USD 188096.60000000 0.231931935331 Long ABS-CBDO CORP US Y 2 2060-07-15 Fixed 1.69000000 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 61747YEU5 305000.00000000 PA USD 302683.81000000 0.373223342936 Long DBT CORP US N 2 2033-07-20 Variable 4.88900000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CKD2 1580000.00000000 PA USD 1583271.09000000 1.952247558216 Long DBT UST US N 2 2029-02-28 Fixed 4.25000000 N N N N N N NISOURCE INC 549300D8GOWWH0SJB189 65473PBB0 155000.00000000 PA USD 155105.29000000 0.191252101791 Long DBT CORP US N 2 2036-05-18 Fixed 5.30000000 N N N N N N Wingspire Equipment Finance LL N/A 97415AAB8 48916.84000000 PA USD 49036.52000000 0.060464330485 Long ABS-CBDO CORP US Y 2 2032-09-20 Fixed 4.99000000 N N N N N N Tractor Supply Co 549300OJ9VZHZRO6I137 892356106 22287.00000000 NS USD 704492.07000000 0.868671784716 Long EC CORP US N 1 N N N IP 2025-IP Mortgage Trust N/A 449843AA9 150000.00000000 PA USD 150571.31000000 0.185661491668 Long ABS-MBS CORP US Y 2 2042-06-10 Variable 5.42451400 N N N N N N Citigroup Mortgage Loan Trust N/A 17322GAA7 7460.35000000 PA USD 7254.95000000 0.008945693830 Long ABS-CBDO CORP US Y 2 2035-01-25 Variable 4.00000000 N N N N N N Markel Group Inc 549300SCNO12JLWIK605 570535104 754.00000000 NS USD 1472569.54000000 1.815747351749 Long EC CORP US N 1 N N N GreenState Auto Receivables Tr N/A 39573AAC6 105576.29000000 PA USD 105903.76000000 0.130584306232 Long ABS-CBDO CORP US Y 2 2029-01-16 Fixed 5.19000000 N N N N N N AT&T INC 549300Z40J86GGSTL398 00206RGQ9 303000.00000000 PA USD 299009.07000000 0.368692216057 Long DBT CORP US N 2 2030-02-15 Fixed 4.30000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3137HLKL5 87852.26000000 PA USD 88973.48000000 0.109708476440 Long ABS-MBS USGSE US N 2 2036-04-25 Fixed 5.50000000 N N N N N N Mastercard Inc AR5L2ODV9HN37376R084 57636Q104 1420.00000000 NS USD 729312.00000000 0.899275923226 Long EC CORP US N 1 N N N Booking Holdings Inc FXM8FAOHMYDIPD38UZ17 09857L108 1975.00000000 NS USD 352024.00000000 0.434062112783 Long EC CORP US N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 037833100 12094.00000000 NS USD 3499519.84000000 4.315072198135 Long EC CORP US N 1 N N N US BANCORP N1GZ7BBF3NP8GI976H15 91159HJL5 300000.00000000 PA USD 296015.34000000 0.365000806469 Long DBT CORP US N 2 2034-02-01 Variable 4.83900000 N N N N N N Exxon Mobil Corp J3WHBG0MTS7O8ZVMDC91 30231G102 5675.00000000 NS USD 775886.00000000 0.956703850983 Long EC CORP US N 1 N N N The Marzetti Co. 529900X4O13HED1ZAS58 513847103 7705.00000000 NS USD 879602.80000000 1.084591532900 Long EC CORP US N 1 N N N AMERICAN HONDA FINANCE B6Q2VFHD1797Q7NZ3E43 02665WGK1 170000.00000000 PA USD 168767.92000000 0.208098765780 Long DBT CORP US N 2 2028-09-01 Fixed 4.25000000 N N N N N N Chase Auto Owner Trust N/A 16144KAD0 280000.00000000 PA USD 284124.85000000 0.350339274268 Long ABS-MBS CORP US Y 2 2029-06-25 Fixed 5.59000000 N N N N N N Broadcom Inc 549300WV6GIDOZJTV909 11135F101 4500.00000000 NS USD 1699875.00000000 2.096025651566 Long EC CORP US N 1 N N N Quest Diagnostics Inc 8MCWUBXQ0WE04KMXBX50 74834L100 4101.00000000 NS USD 869206.95000000 1.071772961964 Long EC CORP US N 1 N N N JPMORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 46647PEC6 295000.00000000 PA USD 299404.14000000 0.369179355908 Long DBT CORP US N 2 2035-01-23 Variable 5.33600000 N N N N N N Credit Suisse Mortgage Trust N/A 12651RAA5 72112.49000000 PA USD 67564.72000000 0.083310470629 Long ABS-CBDO CORP US Y 2 2047-04-25 Variable 3.25000000 N N N N N N CBRE SERVICES INC 549300CTE3HOMEUMM603 12505BAE0 326000.00000000 PA USD 292697.94000000 0.360910296581 Long DBT CORP US N 2 2031-04-01 Fixed 2.50000000 N N N N N N AMETEK Inc 549300WZDEF9KKE40E98 031100100 2530.00000000 NS USD 612108.20000000 0.754758137353 Long EC CORP US N 1 N N N PTC Inc 54930050SSMU8SKDJ030 69370C100 10263.00000000 NS USD 1165979.43000000 1.437707357587 Long EC CORP US N 1 N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3138EHPF3 395.69000000 PA USD 394.31000000 0.000486202735 Long ABS-MBS USGSE US N 2 2026-12-01 Fixed 3.50000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810PV4 185000.00000000 PA USD 292018.42000000 0.360072416530 Long DBT UST US N 2 2028-01-15 Fixed 1.75000000 N N N N N N Citigroup Mortgage Loan Trust N/A 17327RAA8 19420.88000000 PA USD 19021.03000000 0.023453822662 Long ABS-CBDO CORP US Y 2 2066-01-25 Variable 3.50000000 N N N N N N GS Mortgage Securities Trust N/A 36258RBB8 135878.70000000 PA USD 130336.68000000 0.160711243250 Long ABS-CBDO CORP US N 2 2053-05-12 Fixed 2.31610000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 292480AL4 245000.00000000 PA USD 246220.29000000 0.303601172895 Long DBT CORP US N 2 2028-05-15 Fixed 4.95000000 N N N N N N Capteris Equipment Finance N/A 14077FAC9 150000.00000000 PA USD 148413.99000000 0.183001414863 Long ABS-MBS CORP US Y 2 2033-09-20 Fixed 4.95000000 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 95000U3N1 310000.00000000 PA USD 309456.07000000 0.381573857344 Long DBT CORP US N 2 2035-12-03 Variable 5.21100000 N N N N N N Wells Fargo Commercial Mortgag N/A 95003PAA9 275000.00000000 PA USD 275217.91000000 0.339356599238 Long ABS-MBS CORP US Y 2 2035-07-15 Variable 5.48440600 N N N N N N Government National Mortgage A 549300M8ZYFG0OCMTT87 38380LSA2 59291.35000000 PA USD 57277.95000000 0.070626400452 Long ABS-CBDO USGSE US N 2 2069-01-20 Variable 3.50000000 N N N N N N M&T Equipment Notes N/A 55376YAD7 105000.00000000 PA USD 105467.95000000 0.130046932049 Long ABS-CBDO CORP US Y 2 2031-08-18 Fixed 4.94000000 N N N N N N New Residential Mortgage Loan N/A 64829EAA2 15030.37000000 PA USD 14502.27000000 0.017881979513 Long ABS-CBDO CORP US Y 2 2055-08-25 Variable 3.75000000 N N N N N N Amazon.com Inc ZXTILKJKG63JELOEG630 023135106 7456.00000000 NS USD 1777063.04000000 2.191202127386 Long EC CORP US N 1 N N N UBS Commercial Mortgage Trust N/A 90278PAY6 99983.78000000 PA USD 97516.54000000 0.120242470353 Long ABS-CBDO CORP US N 2 2052-12-15 Fixed 2.98720000 N N N N N N NMEF Funding LLC N/A 62919UAB9 37779.26000000 PA USD 37892.91000000 0.046723736376 Long ABS-CBDO CORP US Y 2 2031-12-15 Fixed 5.15000000 N N N N N N Revvity Inc 549300IKL1SDPFI7N655 714046109 8231.00000000 NS USD 915781.06000000 1.129201025357 Long EC CORP US N 1 N N N Atmos Energy Corp QVLWEGTD2S8GJMO8D383 049560105 1995.00000000 NS USD 343678.65000000 0.423771904578 Long EC CORP US N 1 N N N AIRBNB INC 549300HMUDNO0RY56D37 009066AD3 105000.00000000 PA USD 104322.90000000 0.128635031661 Long DBT CORP US N 2 2031-03-16 Fixed 4.65000000 N N N N N N American Heritage Auto Receiva N/A 026944AD0 85000.00000000 PA USD 85253.85000000 0.105121998085 Long ABS-MBS CORP US Y 2 2030-06-17 Fixed 5.07000000 N N N N N N REGIONS FINANCIAL CORP CW05CS5KW59QTC0DG824 7591EPAT7 225000.00000000 PA USD 212416.70000000 0.261919759994 Long DBT CORP US N 2 2028-08-12 Fixed 1.80000000 N N N N N N Dorman Products Inc 2549000O0BBUX740XR59 258278100 7054.00000000 NS USD 962518.30000000 1.186830235695 Long EC CORP US N 1 N N N Towd Point Mortgage Trust N/A 89179YAR4 70196.31000000 PA USD 65865.18000000 0.081214858048 Long ABS-MBS CORP US Y 2 2061-11-25 Variable 2.25000000 N N N N N N AGILENT TECHNOLOGIES INC QUIX8Y7A2WP0XRMW7G29 00846UAM3 260000.00000000 PA USD 235571.99000000 0.290471319262 Long DBT CORP US N 2 2030-06-04 Fixed 2.10000000 N N N N N N BofA Auto Trust N/A 09709AAD4 175000.00000000 PA USD 176447.46000000 0.217567999008 Long ABS-MBS CORP US Y 2 2030-06-17 Fixed 5.31000000 N N N N N N Truist Bank Auto Credit-Linked N/A 897926CB5 134722.46000000 PA USD 134244.80000000 0.165530138621 Long ABS-MBS CORP US Y 2 2033-09-26 Fixed 4.72800000 N N N N N N Linde PLC 5299003QR1WT0EF88V51 G54950103 930.00000000 NS USD 482614.20000000 0.595085958091 Long EC CORP IE N 1 N N N Wells Fargo Commercial Mortgag N/A 95005BAB6 200000.00000000 PA USD 196960.88000000 0.242862008580 Long ABS-MBS CORP US N 2 2059-03-15 Fixed 4.54700000 N N N N N N Littelfuse Inc 549300MY7HLQFYTPCX75 537008104 2267.00000000 NS USD 1032233.11000000 1.272791868199 Long EC CORP US N 1 N N N N/A N/A 09248U718 611612.17000000 NS USD 611612.17000000 0.754146509084 Long STIV RF US N 1 N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CPJ4 300000.00000000 PA USD 290203.13000000 0.357834078767 Long DBT UST US N 2 2035-11-15 Fixed 4.00000000 N N N N N N Velocity Commercial Capital Lo N/A 92259TAA9 64163.65000000 PA USD 55355.47000000 0.068255892388 Long ABS-CBDO CORP US Y 2 2051-05-25 Variable 1.40000000 N N N N N N KNDR 2021-KIND A N/A 482606AA8 143799.39000000 PA USD 143572.09000000 0.177031124929 Long ABS-CBDO CORP US Y 2 2038-08-15 Floating 4.69000000 N N N N N N ENACT HOLDINGS INC 9845003CA5664B741N19 29249EAA7 250000.00000000 PA USD 257290.91000000 0.317251766909 Long DBT CORP US N 2 2029-05-28 Fixed 6.25000000 N N N N N N VERIZON COMMUNICATIONS 2S72QS2UO2OESLG6Y829 92343VGY4 319000.00000000 PA USD 308565.68000000 0.380475964687 Long DBT CORP US N 2 2035-02-15 Fixed 4.78000000 N N N N N N APTARGROUP INC VNPEQDQFAA7IY1T2PX43 038336AB9 200000.00000000 PA USD 198096.99000000 0.244262885528 Long DBT CORP US N 2 2031-03-30 Fixed 4.75000000 N N N N N N DUKE ENERGY CORP I1BZKREC126H0VB1BL91 26441CBZ7 85000.00000000 PA USD 88606.37000000 0.109255812581 Long DBT CORP US N 2 2033-09-15 Fixed 5.75000000 N N N N N N SOFI CONSUMER LOAN PROGRAM TRU N/A 83408EAB9 135000.00000000 PA USD 134303.08000000 0.165602000596 Long ABS-MBS CORP US Y 2 2036-03-25 Fixed 4.80000000 N N N N N N Abbott Laboratories HQD377W2YR662HK5JX27 002824100 14650.00000000 NS USD 1329341.00000000 1.639139840093 Long EC CORP US N 1 N N N MARS INC 54930073HKEO6GZBSS03 571676AY1 300000.00000000 PA USD 300893.63000000 0.371015966981 Long DBT CORP US Y 2 2030-03-01 Fixed 4.80000000 N N N N N N ORACLE CORP 1Z4GXXU7ZHVWFCD8TV52 68389XCD5 225000.00000000 PA USD 215336.01000000 0.265519406230 Long DBT CORP US N 2 2028-03-25 Fixed 2.30000000 N N N N N N Tesla Inc 54930043XZGB27CTOV49 88160R101 2120.00000000 NS USD 891672.00000000 1.099473422918 Long EC CORP US N 1 N N N PAYCHEX INC 529900K900DW6SUBM174 704326AA5 255000.00000000 PA USD 257195.32000000 0.317133899953 Long DBT CORP US N 2 2030-04-15 Fixed 5.10000000 N N N N N N Monolithic Power Systems Inc 529900TB7O85LSZ1XU31 609839105 290.00000000 NS USD 400884.40000000 0.494309279042 Long EC CORP US N 1 N N N BAYLOR SCOTT & WHITE HOL 549300JQDKSBWYRGGV95 072863AH6 125000.00000000 PA USD 110889.74000000 0.136732253568 Long DBT CORP US N 2 2030-11-15 Fixed 1.77700000 N N N N N N Alphabet Inc 5493006MHB84DD0ZWV18 02079K107 8179.00000000 NS USD 2889886.07000000 3.563365149099 Long EC CORP US N 1 N N N Woodward Capital Management 254900JZ559190WVJ551 74940EAA5 94231.28000000 PA USD 93205.17000000 0.114926348807 Long ABS-MBS CORP US Y 2 2056-02-25 Variable 4.76200000 N N N N N N Brean Asset Backed Securities N/A 10638CAA0 118745.73000000 PA USD 113827.34000000 0.140354452233 Long ABS-MBS CORP US Y 2 2063-10-25 Variable 1.40000000 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 38141GZM9 330000.00000000 PA USD 298893.82000000 0.368550107398 Long DBT CORP US N 2 2033-02-24 Variable 3.10200000 N N N N N N WALT DISNEY COMPANY/THE 549300GZKULIZ0WOW665 254687FX9 235000.00000000 PA USD 217019.22000000 0.267594883154 Long DBT CORP US N 2 2031-01-13 Fixed 2.65000000 N N N N N N Ellington Financial Mortgage T N/A 26846MAA2 118463.71000000 PA USD 117063.30000000 0.144344542779 Long ABS-MBS CORP US Y 2 2060-12-25 Variable 4.91400000 N N N N N N Southern Co/The 549300FC3G3YU2FBZD92 842587107 4475.00000000 NS USD 428302.25000000 0.528116774835 Long EC CORP US N 1 N N N Meta Platforms Inc BQ4BKCS1HXDV9HN80Z93 30303M102 1916.00000000 NS USD 1079263.64000000 1.330782718872 Long EC CORP US N 1 N N N Kubota Credit Owner Trust N/A 50117DAD8 100000.00000000 PA USD 101236.98000000 0.124829947476 Long ABS-MBS CORP US Y 2 2030-05-15 Fixed 5.19000000 N N N N N N Onslow Bay Financial LLC N/A 67116WAC3 120777.58000000 PA USD 109018.00000000 0.134424310306 Long ABS-MBS CORP US Y 2 2052-02-25 Variable 3.00000000 N N N N N N Tricon Residential N/A 89616QAA9 128917.78000000 PA USD 127824.12000000 0.157613138853 Long ABS-CBDO CORP US Y 2 2039-04-17 Fixed 3.85600000 N N N N N N Octane Receivables Trust N/A 67578YAB2 26688.94000000 PA USD 26813.81000000 0.033062686124 Long ABS-MBS CORP US Y 2 2032-07-20 Fixed 5.80000000 N N N N N N AMAZON.COM INC ZXTILKJKG63JELOEG630 023135DE3 150000.00000000 PA USD 147556.40000000 0.181943966146 Long DBT CORP US N 2 2033-03-13 Fixed 4.55000000 N N N N N N Avant Loans Funding Trust N/A 05352BAA6 300000.00000000 PA USD 300251.25000000 0.370223882294 Long ABS-MBS CORP US Y 2 2034-05-15 Fixed 5.12000000 N N N N N N Greensky Home Improvement Issu N/A 39571MAD0 32702.62000000 PA USD 33084.69000000 0.040794975462 Long ABS-CBDO CORP US Y 2 2059-06-25 Fixed 5.67000000 N N N N N N BANK OF AMERICA CORP 9DJT3UXIJIZJI4WXO774 06051GJT7 120000.00000000 PA USD 108697.81000000 0.134029501009 Long DBT CORP US N 2 2032-04-22 Variable 2.68700000 N N N N N N Fanniemae-Aces B1V7KEBTPIMZEU4LTD58 3136B4TV0 57310.69000000 PA USD 56103.49000000 0.069178236154 Long ABS-CBDO CORP US N 2 2029-04-25 Variable 4.13769000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3137BWNS9 20824.50000000 PA USD 20597.99000000 0.025398288351 Long ABS-MBS USGSE US N 2 2054-12-15 Variable 3.75000000 N N N N N N LA VISTA NE ECON DEV FUND N/A 505321AQ2 50000.00000000 PA USD 47040.99000000 0.058003748343 Long DBT MUN US N 2 2028-10-15 Fixed 1.64000000 N N N N N N Phillips 66 5493005JBO5YSIGK1814 718546104 2155.00000000 NS USD 364302.75000000 0.449202387785 Long EC CORP US N 1 N N N NNN REIT INC 5493008JKH5SOTI0JS97 637417AU0 155000.00000000 PA USD 153561.75000000 0.189348844532 Long DBT CORP US N 2 2031-02-15 Fixed 4.60000000 N N N N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 594918104 6415.00000000 NS USD 2392923.30000000 2.950586730807 Long EC CORP US N 1 N N N Northern Trust Corp 549300GLF98S992BC502 665859104 8956.00000000 NS USD 1556911.04000000 1.919744379467 Long EC CORP US N 1 N N N CCG Receivables Trust N/A 12512XAB9 2428.65000000 PA USD 2430.85000000 0.002997352131 Long ABS-MBS CORP US Y 2 2030-09-16 Fixed 5.82000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3136BWMS2 237021.47000000 PA USD 235707.54000000 0.290638458773 Long ABS-MBS USGSE US N 2 2036-07-25 Fixed 5.00000000 N N N N N N Ellington Financial Mortgage T N/A 26846KAD0 96442.02000000 PA USD 96331.92000000 0.118781778298 Long ABS-MBS CORP US Y 2 2071-04-25 Variable 5.46600000 N N N N N N GREAT AMERICA LEASING RECEIVAB N/A 39154TCJ5 141273.27000000 PA USD 141731.53000000 0.174761628070 Long ABS-MBS CORP US Y 2 2028-01-18 Fixed 4.98000000 N N N N N N CCG Receivables Trust N/A 12515PAB3 38175.11000000 PA USD 38321.73000000 0.047252491561 Long ABS-CBDO CORP US Y 2 2032-03-15 Fixed 4.99000000 N N N N N N Greensky Home Improvement Issu N/A 39571MAC2 100000.00000000 PA USD 101329.62000000 0.124944176944 Long ABS-CBDO CORP US Y 2 2059-06-25 Fixed 5.55000000 N N N N N N AMERICAN HONDA FINANCE B6Q2VFHD1797Q7NZ3E43 02665WGR6 115000.00000000 PA USD 113635.49000000 0.140117892179 Long DBT CORP US N 2 2029-01-08 Fixed 4.15000000 N N N N N N Broadridge Financial Solutions 549300KZDJZQ2YIHRC28 11133T103 5700.00000000 NS USD 780615.00000000 0.962534929919 Long EC CORP US N 1 N N N Home Depot Inc/The QEKMOTMBBKA8I816DO57 437076102 1385.00000000 NS USD 488461.80000000 0.602296323323 Long EC CORP US N 1 N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CLW9 1110000.00000000 PA USD 1099160.16000000 1.355316061792 Long DBT UST US N 2 2034-11-15 Fixed 4.25000000 N N N N N N Space Coast Credit Union N/A 80620BAE7 100000.00000000 PA USD 99276.15000000 0.122412152063 Long ABS-MBS CORP US Y 2 2031-12-15 Fixed 4.78000000 N N N N N N WSTN Trust N/A 92943AAA2 220000.00000000 PA USD 221825.32000000 0.273521030009 Long ABS-MBS CORP US Y 2 2037-07-05 Variable 6.51800100 N N N N N N Eli Lilly & Co FRDRIPF3EKNDJ2CQJL29 532457108 695.00000000 NS USD 833603.85000000 1.027872668781 Long EC CORP US N 1 N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3137HPG49 278938.43000000 PA USD 276629.21000000 0.341096798371 Long ABS-MBS CORP US N 2 2050-08-25 Fixed 5.00000000 N N N N N N INTERCONTINENTALEXCHANGE 5493000F4ZO33MV32P92 45866FAK0 350000.00000000 PA USD 317256.87000000 0.391192609842 Long DBT CORP US N 2 2030-06-15 Fixed 2.10000000 N N N N N N FORD MOTOR CREDIT CO LLC UDSQCVRUX5BONN0VY111 345397E58 200000.00000000 PA USD 201751.33000000 0.248768858249 Long DBT CORP US N 2 2029-03-08 Fixed 5.80000000 N N N N N N Greensky Home Improvement Issu N/A 39571YAA0 165000.00000000 PA USD 164906.63000000 0.203337613997 Long ABS-MBS CORP US Y 2 2041-05-15 Fixed 4.93000000 N N N N N N RTX Corp I07WOS4YJ0N7YRFE7309 75513E101 4237.00000000 NS USD 803886.01000000 0.991229177378 Long EC CORP US N 1 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 172967NU1 310000.00000000 PA USD 308417.60000000 0.380293375097 Long DBT CORP US N 2 2033-05-24 Variable 4.91000000 N N N N N N SOFI CONSUMER LOAN PROGRAM TRU N/A 83406YAB7 200000.00000000 PA USD 200973.56000000 0.247809831338 Long ABS-MBS CORP US Y 2 2034-02-27 Fixed 5.12000000 N N N N N N MasTec Inc 549300TMDIT8WREDOF45 576323109 1715.00000000 NS USD 713542.90000000 0.879831882869 Long EC CORP US N 1 N N N Costco Wholesale Corp 29DX7H14B9S6O3FD6V18 22160K105 630.00000000 NS USD 589346.10000000 0.726691399809 Long EC CORP US N 1 N N N FRTKL N/A 30322DAA7 190000.00000000 PA USD 188527.80000000 0.232463625168 Long ABS-MBS CORP US Y 2 2038-09-17 Fixed 1.57100000 N N N N N N MCDONALD'S CORP UE2136O97NLB5BYP9H04 58013MFM1 330000.00000000 PA USD 302986.39000000 0.373596438276 Long DBT CORP US N 2 2030-03-01 Fixed 2.12500000 N N N N N N BMW FINANCE NV 5299006ZHG3IXU0PNJ56 05600LAC0 230000.00000000 PA USD 217527.32000000 0.268221394300 Long DBT CORP NL Y 2 2029-08-14 Fixed 2.85000000 N N N N N N The Huntington National Bank N/A 446438SX2 92111.25000000 PA USD 92128.28000000 0.113598492897 Long ABS-MBS CORP US Y 2 2033-03-21 Fixed 4.95700000 N N N N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 907818108 3468.00000000 NS USD 943296.00000000 1.163128237676 Long EC CORP US N 1 N N N CD Commercial Mortgage Trust N/A 12512JAT1 50799.95000000 PA USD 50526.78000000 0.062301891004 Long ABS-CBDO CORP US N 2 2051-08-15 Fixed 4.21300000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VAY6 160000.00000000 PA USD 162533.58000000 0.200411531977 Long DBT CORP US N 2 2034-05-15 Fixed 5.55000000 N N N N N N Ellington Financial Mortgage T 254900CMJGXNT3R7H775 26846VAA2 91344.91000000 PA USD 91593.60000000 0.112939207364 Long ABS-MBS CORP US Y 2 2060-01-25 Variable 5.72600000 N N N N N N CAMPBELLS COMPANY/THE 5493007JDSMX8Z5Z1902 134429BJ7 270000.00000000 PA USD 244847.86000000 0.301908902296 Long DBT CORP US N 2 2030-04-24 Fixed 2.37500000 N N N N N N Foundation Finance Trust N/A 35040VAA7 96255.89000000 PA USD 95346.65000000 0.117566894148 Long ABS-MBS CORP US Y 2 2050-03-15 Fixed 4.60000000 N N N N N N ELFI Graduate Loan Program LLC N/A 26857LAA0 27633.10000000 PA USD 25198.96000000 0.031071500288 Long ABS-MBS CORP US Y 2 2045-08-25 Fixed 1.73000000 N N N N N N CONCENTRIX CORP 5493000EAJN1KMPVA737 20602DAD3 75000.00000000 PA USD 72302.49000000 0.089152363386 Long DBT CORP US N 2 2029-03-01 Fixed 6.50000000 N N N N N N NextEra Energy Inc 254900RHL9MEUS5NKX63 65339F101 5260.00000000 NS USD 461670.20000000 0.569261023171 Long EC CORP US N 1 N N N Waste Management Inc 549300YX8JIID70NFS41 94106L109 2290.00000000 NS USD 510395.20000000 0.629341234876 Long EC CORP US N 1 N N N Social Professional Loan Progr N/A 83405NAA4 105975.47000000 PA USD 92470.71000000 0.114020725158 Long ABS-MBS CORP US Y 2 2047-02-15 Fixed 1.14000000 N N N N N N EOG Resources Inc XWTZDRYZPBUHIQBKDB46 26875P101 2725.00000000 NS USD 353514.25000000 0.435899660971 Long EC CORP US N 1 N N N BANK OF AMERICA CORP 9DJT3UXIJIZJI4WXO774 06051GMM8 175000.00000000 PA USD 178703.34000000 0.220349604918 Long DBT CORP US N 2 2036-01-24 Variable 5.51100000 N N N N N N WASTE MANAGEMENT INC 549300YX8JIID70NFS41 94106LBP3 285000.00000000 PA USD 247687.76000000 0.305410632275 Long DBT CORP US N 2 2031-03-15 Fixed 1.50000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 912828Z94 3375000.00000000 PA USD 3074677.72000000 3.791221925976 Long DBT UST US N 2 2030-02-15 Fixed 1.50000000 N N N N N N FCCU Auto Receivables Trust N/A 31424YAD0 200000.00000000 PA USD 200922.88000000 0.247747340520 Long ABS-MBS CORP US Y 2 2031-05-15 Fixed 5.18000000 N N N N N N Progress Residential Trust N/A 74333HAA3 118793.89000000 PA USD 118564.37000000 0.146195432535 Long ABS-MBS CORP US Y 2 2038-07-17 Fixed 1.52400000 N N N N N N Ryan Specialty Holdings Inc N/A 78351F107 26846.00000000 NS USD 1013704.96000000 1.249945789708 Long EC CORP US N 1 N N N Aligned Data Centers Issuer LL N/A 01627AAA6 155000.00000000 PA USD 154494.14000000 0.190498525160 Long ABS-CBDO CORP US Y 2 2046-08-15 Fixed 1.93700000 N N N N N N EXELON CORP 3SOUA6IRML7435B56G12 30161NBR1 300000.00000000 PA USD 304001.80000000 0.374848486460 Long DBT CORP US N 2 2031-03-15 Fixed 5.12500000 N N N N N N HUNTINGTON INGALLS INDUS 5TZLZ6WJTBVJ0QWBG121 446413AL0 185000.00000000 PA USD 182051.40000000 0.224477920025 Long DBT CORP US N 2 2027-12-01 Fixed 3.48300000 N N N N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 713448108 7740.00000000 NS USD 1047996.00000000 1.292228251335 Long EC CORP US N 1 N N N CF Hippolyta Issuer LLC N/A 12530MAE5 110104.50000000 PA USD 86697.55000000 0.106902147939 Long ABS-CBDO CORP US Y 2 2061-03-15 Fixed 1.53000000 N N N N N N Amphenol Corp 549300D3L3G0R4U4VT04 032095101 3985.00000000 NS USD 702635.20000000 0.866382176862 Long EC CORP US N 1 N N N Post Road Equipment Finance N/A 73747LAB4 103583.52000000 PA USD 103957.20000000 0.128184106399 Long ABS-MBS CORP US Y 2 2031-05-15 Fixed 4.90000000 N N N N N N Truist Bank Auto Credit-Linked N/A 897926DQ1 130000.00000000 PA USD 129805.59000000 0.160056384355 Long ABS-MBS CORP US Y 2 2034-06-26 Fixed 5.06700000 N N N N N N APPLIED MATERIALS INC 41BNNE1AFPNAZELZ6K07 038222AN5 70000.00000000 PA USD 63012.17000000 0.077696962824 Long DBT CORP US N 2 2030-06-01 Fixed 1.75000000 N N N N N N First Help Financial LLC N/A 30339EAB4 40193.37000000 PA USD 40042.13000000 0.049373825500 Long ABS-MBS CORP US Y 2 N N N NORTH TEXAS HIGHER EDUCATION A N/A 66286VAB3 52539.36000000 PA USD 52296.37000000 0.064483878522 Long ABS-MBS CORP US N 2 2061-09-25 Floating 4.33282000 N N N N N N PEAC Solutions Receivables LLC N/A 69392HAC7 140000.00000000 PA USD 140842.00000000 0.173664795833 Long ABS-MBS CORP US Y 2 2032-07-20 Fixed 5.04000000 N N N N N N FannieMae Grantor Trust N/A 31392DSE3 106824.16000000 PA USD 110335.38000000 0.136048701672 Long ABS-MBS CORP US N 2 2032-07-25 Variable 6.77444600 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CHT1 2145000.00000000 PA USD 2085844.93000000 2.571944689150 Long DBT UST US N 2 2033-08-15 Fixed 3.87500000 N N N N N N Hudson Yards N/A 44421GAA1 200000.00000000 PA USD 189810.72000000 0.234045525737 Long ABS-CBDO CORP US Y 2 2039-07-10 Fixed 3.22800000 N N N N N N CCG Receivables Trust N/A 12511QAB5 21068.90000000 PA USD 21208.26000000 0.026150779901 Long ABS-MBS CORP US Y 2 2032-04-14 Fixed 6.28000000 N N N N N N NVIDIA Corp 549300S4KLFTLO7GSQ80 67066G104 17843.00000000 NS USD 3570205.87000000 4.402231390480 Long EC CORP US N 1 N N N Citizens Auto Receivables Trus N/A 17331KAD1 25357.56000000 PA USD 25402.44000000 0.031322400677 Long ABS-CBDO CORP US Y 2 2028-01-18 Fixed 5.84000000 N N N N N N Chase Mortgage Finance Corpora N/A 16159LAC2 113684.76000000 PA USD 103468.54000000 0.127581565685 Long ABS-MBS CORP US Y 2 2062-06-25 Variable 3.50000000 N N N N N N UNION PACIFIC CORP 549300LMMRSZZCZ8CL11 907818EY0 175000.00000000 PA USD 173345.15000000 0.213742705183 Long DBT CORP US N 2 2028-09-10 Fixed 3.95000000 N N N N N N MKS Inc 549300KEQATBHAGVF505 55306N104 3347.00000000 NS USD 1488745.60000000 1.835693192885 Long EC CORP US N 1 N N N Tetra Tech Inc 549300UJ1LP7JGJC5P32 88162G103 19952.00000000 NS USD 576413.28000000 0.710744625801 Long EC CORP US N 1 N N N First Industrial Realty Trust N/A 32054K103 6320.00000000 NS USD 387479.20000000 0.477780038325 Long EC CORP US N 1 N N N Wells Fargo Commercial Mortgag N/A 95004JAC8 145000.00000000 PA USD 150209.82000000 0.185215757533 Long ABS-MBS CORP US N 2 2058-01-15 Fixed 6.09600000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CNT4 570000.00000000 PA USD 562741.40000000 0.693886556128 Long DBT UST US N 2 2035-08-15 Fixed 4.25000000 N N N N N N Berkshire Hathaway Inc 5493000C01ZX7D35SD85 084670702 1405.00000000 NS USD 703047.95000000 0.866891116982 Long EC CORP US N 1 N N N QUALCOMM INC H1J8DDZKZP6H7RWC0H53 747525BK8 328000.00000000 PA USD 300011.45000000 0.369928197640 Long DBT CORP US N 2 2030-05-20 Fixed 2.15000000 N N N N N N Diamondback Energy Inc 549300R22LSX6OHWEN64 25278X109 1880.00000000 NS USD 330466.40000000 0.407480580266 Long EC CORP US N 1 N N N US TREASURY N/B 254900HROIFWPRGM1V77 91282CDY4 3760000.00000000 PA USD 3316878.13000000 4.089866398176 Long DBT UST US N 2 2032-02-15 Fixed 1.87500000 N N N N N N Space Coast Credit Union N/A 78436RAE0 183120.81000000 PA USD 183637.03000000 0.226433076230 Long ABS-MBS CORP US Y 2 2029-06-15 Fixed 5.11000000 N N N N N N Freddie Mac - SLST N/A 35564CDD6 240000.00000000 PA USD 223683.98000000 0.275812845017 Long ABS-CBDO CORP US N 2 2029-09-25 Fixed 2.75000000 N N N N N N SLM Student Loan Trust 549300EQOYJZL2D96G46 78445AAD8 38984.97000000 PA USD 38954.01000000 0.048032122474 Long ABS-MBS CORP US N 2 2029-04-15 Floating 5.58029000 N N N N N N Woodward Capital Management N/A 749427AA8 77491.16000000 PA USD 77757.96000000 0.095879213926 Long ABS-CBDO CORP US Y 2 2045-01-25 Variable 5.65300000 N N N N N N AMN Healthcare Services Inc 529900W3ARRTCNFH2I39 001744101 20158.00000000 NS USD 652514.46000000 0.804580952233 Long EC CORP US N 1 N N N Sutherland Commercial Mortgage N/A 86935CAA0 42289.30000000 PA USD 40286.97000000 0.049675724711 Long ABS-MBS CORP US Y 2 2041-04-25 Variable 2.86000000 N N N N N N Tricon American Homes N/A 89613JAA8 106891.38000000 PA USD 102161.44000000 0.125969850042 Long ABS-CBDO CORP US Y 2 2039-11-17 Fixed 1.48200000 N N N N N N Vantage Data Centers LLC 5493000RL8X7WTQ7HO20 92212KAH9 110000.00000000 PA USD 107975.36000000 0.133138686254 Long ABS-CBDO CORP US Y 2 2055-08-15 Fixed 5.13200000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3137HQ3Q2 242768.95000000 PA USD 243131.55000000 0.299792611518 Long ABS-MBS CORP US N 2 2037-01-25 Fixed 5.00000000 N N N N N N Chubb Ltd E0JAN6VLUDI1HITHT809 H1467J104 1705.00000000 NS USD 580961.70000000 0.716353041122 Long EC CORP CH N 1 N N N DOLLAR GENERAL CORP OPX52SQVOZI8IVSWYU66 256677AG0 310000.00000000 PA USD 295714.50000000 0.364629856630 Long DBT CORP US N 2 2030-04-03 Fixed 3.50000000 N N N N N N Liberty Street Trust N/A 50178LAA2 130000.00000000 PA USD 127735.78000000 0.157504211487 Long ABS-MBS CORP US Y 2 2043-02-10 Variable 4.74636900 N N N N N N Angel Oak Mortgage Trust N/A 03464PAA5 76119.55000000 PA USD 71836.97000000 0.088578355379 Long ABS-MBS CORP US Y 2 2067-01-25 Variable 4.07628000 N N N N N N COMMONBOND STUDENT LOAN TRUST 549300O1CSZVJJTIR319 20267XAA1 14562.15000000 PA USD 14112.13000000 0.017400918584 Long ABS-CBDO CORP US Y 2 2046-02-25 Fixed 3.87000000 N N N N N N JPMorgan Chase & Co 8I5DZWZKVSZI1NUHU748 46625H100 4707.00000000 NS USD 1540742.31000000 1.899807576565 Long EC CORP US N 1 N N N SOFI CONSUMER LOAN PROGRAM TRU N/A 83390JAB8 135000.00000000 PA USD 134634.95000000 0.166011211881 Long ABS-MBS CORP US Y 2 2034-08-15 Fixed 4.67000000 N N N N N N 2026-08-14 Tributary Funds, Inc. /s/ Karen Shaw Karen Shaw Treasurer XXXX