Tributary Capital Management maintains its Average Parent rating following the recent addition of a large-cap focused investment team.
As part of parent company First National Bank of Omaha’s 2025 acquisition of Country Club Bank, Tributary integrated a large-cap equity investment team in April 2026—a first for the asset manager that spun out of its parent’s wealth management division in 2010. The Country Club team brings nearly USD 1.5 billion in assets under management, taking Tributary’s new total to USD 4.6 billion as of June 2026.
The combination has inspired some reshuffling. New additions Marc Scott and Bart Wyrick now oversee Tributary’s equity-income and large-cap core equity separate-account strategies—an expertise they brought with them, along with similarly run accounts. Tributary veteran Nick Nevole moves from those strategies to the firm’s all-cap separate accounts as well as its moderate-allocation mutual fund, Tributary Balanced. The small- and small/mid-cap management teams remain intact, as is the compact lineup of fixed-income funds run by FNBO portfolio managers.
Additional resources allow the group to more intently maintain focus on more-specific assignments, such as the firm’s flagship offering. About half of the combined firm's AUM resides in the small-cap strategy, which is offered through separate accounts, model delivery, and the Tributary Small Company mutual fund. It’s an area of strength, owing to a solid investment process and stable leadership. Longtime president and small-cap lead manager Mark Wynegar has been at the firm since 1999, and many team members bring decades of experience. Although Wynegar has made headway in developing a new generation of talent, succession planning efforts remain in early stages.
Note: This share class' Parent Pillar rating is analyst-driven, as its Branding Name, Tributary (Branding Name ID: BN00000CSG), is covered by Morningstar Manager Research.
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