Tributary Capital Management

Tributary Capital Management as of March 31, 2012

Portfolio Holdings for Tributary Capital Management

Tributary Capital Management holds 0 positions in its portfolio as reported in the March 2012 quarterly 13F filing

                {C}                                                {C}

                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
{S}                            {C}              {C}       {C}      {C}      {C} {C}  {C}     {C}          {C}      {C}      {C}
3M CO COM                      COM              88579Y101     6209    69600 SH       Sole                    69600
ABBOTT LABORATORIES COM        COM              002824100     6550   106875 SH       Sole                   106875
ACCENTURE PLC CLASS A ORDINARY COM              G1151C101     1290    20000 SH       Sole                    20000
ACE LTD NPV                    COM              H0023R105      666     9100 SH       Sole                     9100
ACTUANT CORP CLASS A           COM              00508X203     3197   110268 SH       Sole                   110268
ADOBE SYSTEMS INC  (DE)        COM              00724F101     3425    99834 SH       Sole                    99834
AES CORP COM                   COM              00130H105     4591   351250 SH       Sole                   351250
AFFILIATED MANAGERS GROUP      COM              008252108     2943    26324 SH       Sole                    26324
AFLAC INC COM                  COM              001055102     5143   111825 SH       Sole                   111825
AGCO CORP                      COM              001084102     2675    56670 SH       Sole                    56670
AGRIUM INC USD                 COM              008916108     5065    58639 SH       Sole                    58639
AIR PRODS & CHEMS INC COM      COM              009158106     3642    39675 SH       Sole                    39675
AKAMAI TECHNOLOGIES INC        COM              00971T101     1119    30492 SH       Sole                    30492
ALLEGHENY TECHNOLOGIES INC COM COM              01741R102     3140    76263 SH       Sole                    76263
AMGEN INC COM                  COM              031162100     2513    36975 SH       Sole                    36975
ANIXTER INTERNATIONAL INC      COM              035290105     2519    34726 SH       Sole                    34726
ANN INC                        COM              035623107     3696   129036 SH       Sole                   129036
APACHE CORP COM                COM              037411105     5582    55575 SH       Sole                    55575
APPLE INC COM                  COM              037833100     4131     6890 SH       Sole                     6890
APPLIED INDUSTRIAL TECH INC    COM              03820C105     1936    47072 SH       Sole                    47072
ATLAS AIR WORLDWIDE HLDGS      COM              049164205     1051    21356 SH       Sole                    21356
AVNET INC COM                  COM              053807103     3178    87325 SH       Sole                    87325
BARNES GROUP INC               COM              067806109     2360    89700 SH       Sole                    89700
BB^T CORP COM                  COM              054937107     3787   120650 SH       Sole                   120650
BILL BARRETT CORP              COM              06846N104     1900    73040 SH       Sole                    73040
BIOGEN IDEC INC COM            COM              09062X103     1550    12300 SH       Sole                    12300
BLACKROCK INC COM              COM              09247X101     5046    24625 SH       Sole                    24625
BORGWARNER INC                 COM              099724106     2023    23981 SH       Sole                    23981
BUCKEYE TECHNOLOGIES INC       COM              118255108     2072    61002 SH       Sole                    61002
BUCKLE INC                     COM              118440106     2505    52290 SH       Sole                    52290
CA INC                         COM              12673P105     2893   104980 SH       Sole                   104980
CACI INTL INC CL A             COM              127190304     2469    39638 SH       Sole                    39638
CADENCE DESIGN SYSTEMS INC     COM              127387108     1823   153946 SH       Sole                   153946
CALGON CARBON CORPORATION      COM              129603106     1666   106753 SH       Sole                   106753
CALLAWAY GOLF COMPANY          COM              131193104     1956   289342 SH       Sole                   289342
CARBO CERAMICS INC             COM              140781105     2268    21508 SH       Sole                    21508
CARLISLE COS INC               COM              142339100     3302    66149 SH       Sole                    66149
CARPENTER TECHNOLOGY CORP      COM              144285103     2471    47306 SH       Sole                    47306
CATALYST HEALTH SOLUTIONS INC  COM              14888B103     2212    34714 SH       Sole                    34714
CELGENE CORP COM               COM              151020104     2008    25900 SH       Sole                    25900
CEPHEID INC                    COM              15670R107     1361    32539 SH       Sole                    32539
CERNER CORP                    COM              156782104     2280    29931 SH       Sole                    29931
CHEVRON CORP NEW COM           COM              166764100     8754    81650 SH       Sole                    81650
CHICOS FAS INC                 COM              168615102     1257    83278 SH       Sole                    83278
CHIPOTLE MEXICAN GRILL INC CL  COM              169656105      502     1200 SH       Sole                     1200
CHURCH & DWIGHT CO INC         COM              171340102     1236    25120 SH       Sole                    25120
CISCO SYS INC COM              COM              17275R102     4555   215350 SH       Sole                   215350
CITIGROUP INC COM NEW          COM              172967424     3440    94125 SH       Sole                    94125
CITRIX SYSTEMS INC             COM              177376100     3161    40055 SH       Sole                    40055
CLARCOR INC                    COM              179895107     2594    52842 SH       Sole                    52842
CLIFFS NATURAL RESOURCES       COM              18683K101     5006    72276 SH       Sole                    72276
COACH INC                      COM              189754104      786    10171 SH       Sole                    10171
COCA-COLA ENTERPRISES INC      COM              19122T109     1745    61004 SH       Sole                    61004
COGNIZANT TECH SOLUTIONS CL A  COM              192446102     3415    44380 SH       Sole                    44380
COLGATE PALMOLIVE CO COM       COM              194162103     1932    19761 SH       Sole                    19761
COMCAST CORP CL A              COM              20030N101     6919   230550 SH       Sole                   230550
CONCHO RESOURCES INC           COM              20605P101     3496    34244 SH       Sole                    34244
COVIDIEN PLC SHS               COM              G2554F113      524     9575 SH       Sole                     9575
CREDIT ACCEPTANCE CORP  MICH   COM              225310101     2291    22679 SH       Sole                    22679
CULLEN FROST BANKERS INC       COM              229899109     2292    39387 SH       Sole                    39387
CUMMINS INC COM                COM              231021106     1693    14100 SH       Sole                    14100
DAKTRONICS INC                 COM              234264109     1458   164037 SH       Sole                   164037
DELL INC COM                   COM              24702R101     1512    91132 SH       Sole                    91132
DISCOVERY COMMUNICATION INC    COM              25470F302     2912    62112 SH       Sole                    62112
DOVER CORP                     COM              260003108     3693    58667 SH       Sole                    58667
DRESSER-RAND GROUP INC         COM              261608103     2115    45602 SH       Sole                    45602
E M C CORP MASS COM            COM              268648102     7696   257550 SH       Sole                   257550
EMERSON ELEC CO COM            COM              291011104     5249   100600 SH       Sole                   100600
ENSCO PLC                      COM              29358Q109     5233    98875 SH       Sole                    98875
EQUINIX INC                    COM              29444U502     1920    12196 SH       Sole                    12196
EXXON MOBIL CORP COM           COM              30231G102    10685   123200 SH       Sole                   123200
FACTSET RESEARCH SYSTEMS INC   COM              303075105     1926    19445 SH       Sole                    19445
FEDEX CORP COM                 COM              31428X106     1584    17230 SH       Sole                    17230
FISERV INC                     COM              337738108     3115    44895 SH       Sole                    44895
FLOWSERVE CORP COM             COM              34354P105     4805    41600 SH       Sole                    41600
FOOT LOCKER INC                COM              344849104     2734    88043 SH       Sole                    88043
FOREST OIL CORP-NEW            COM              346091705     1417   116886 SH       Sole                   116886
GALLAGHER ARTHUR J & CO        COM              363576109     1820    50937 SH       Sole                    50937
GAMCO INVESTORS INCORPORATED C COM              361438104      748    15072 SH       Sole                    15072
GENERAL ELEC CO COM            COM              369604103     7259   361675 SH       Sole                   361675
GENESEE & WYOMING INC CLASS A  COM              371559105     1277    23406 SH       Sole                    23406
GENOMIC HEALTH INC             COM              37244C101     2510    82009 SH       Sole                    82009
GEORESOURCES INC               COM              372476101     1593    48665 SH       Sole                    48665
GOLDMAN SACHS GROUP INC COM    COM              38141G104     3877    31175 SH       Sole                    31175
GOOGLE INC CL A                COM              38259P508     2071     3230 SH       Sole                     3230
GREATBATCH INC                 COM              39153L106     1525    62213 SH       Sole                    62213
GULFPORT ENERGY CORP NEW       COM              402635304     2323    79761 SH       Sole                    79761
HALLIBURTON CO COM             COM              406216101     1294    39000 SH       Sole                    39000
HANESBRANDS INC                COM              410345102     1622    54907 SH       Sole                    54907
HAYNES INTL INC-NEW            COM              420877201      966    15245 SH       Sole                    15245
HEINZ H J CO COM               COM              423074103     5834   108950 SH       Sole                   108950
HELMERICH & PAYNE INC COM      COM              423452101      367     6800 SH       Sole                     6800
HERBALIFE LTD                  COM              G4412G101     2284    33193 SH       Sole                    33193
HERSHEY CO COM                 COM              427866108     1466    23900 SH       Sole                    23900
HOME PROPERTIES INC            COM              437306103     2093    34301 SH       Sole                    34301
HUB GROUP INC CL A             COM              443320106     1611    44721 SH       Sole                    44721
HUBBELL INC CL B               COM              443510201     2327    29616 SH       Sole                    29616
IAC/INTERACTIVECORP            COM              44919P508     1946    39636 SH       Sole                    39636
IDACORP INC                    COM              451107106     2941    71533 SH       Sole                    71533
IDEX CORPORATION               COM              45167R104     3327    78973 SH       Sole                    78973
ILLINOIS TOOL WKS INC COM      COM              452308109     1828    32000 SH       Sole                    32000
INSTEEL INDS INC               COM              45774W108     1327   109251 SH       Sole                   109251
INTEL CORP COM                 COM              458140100     8380   298050 SH       Sole                   298050
INTERNATIONAL BUSINESS MACHS C COM              459200101     5785    27725 SH       Sole                    27725
INTERNATIONAL GAME TECHNOLOGY  COM              459902102     4672   278250 SH       Sole                   278250
INTERNATIONAL SPEEDWAY CL A    COM              460335201     2395    86315 SH       Sole                    86315
INTREPID POTASH INC            COM              46121Y102     1741    71538 SH       Sole                    71538
INTUITIVE SURGICAL INC COM NEW COM              46120E602      542     1000 SH       Sole                     1000
JACK HENRY & ASSOCIATES INC    COM              426281101      958    28066 SH       Sole                    28066
JACK IN THE BOX INC            COM              466367109     1940    80927 SH       Sole                    80927
JACOBS ENGR GROUP INC COM      COM              469814107     4064    91600 SH       Sole                    91600
JONES LANG LASALLE INC         COM              48020Q107     2442    29316 SH       Sole                    29316
JOY GLOBAL INC                 COM              481165108     4604    62642 SH       Sole                    62642
JPMORGAN CHASE & CO COM        COM              46625H100     8658   188300 SH       Sole                   188300
KIMBERLY CLARK CORP COM        COM              494368103     4295    58125 SH       Sole                    58125
KINDER MORGAN MANAGEMENT, LLC  COM              eke55u103        0      671 SH       Sole                      671
KOHLS CORP COM                 COM              500255104     3816    76275 SH       Sole                    76275
KRAFT FOODS INC CL A           COM              50075N104     2022    53200 SH       Sole                    53200
LANCASTER COLONY CORP          COM              513847103     1892    28463 SH       Sole                    28463
LANDSTAR SYSTEM INC            COM              515098101     1626    28167 SH       Sole                    28167
LEAR CORP COM NEW              COM              521865204     3997    85975 SH       Sole                    85975
LINCOLN ELECTRIC CO HOLDINGS   COM              533900106     1831    40366 SH       Sole                    40366
LITTELFUSE INC                 COM              537008104     3409    54369 SH       Sole                    54369
LTC PPTYS INC                  COM              502175102     1714    53561 SH       Sole                    53561
MACK CALI REALTY CORP          COM              554489104     2025    70256 SH       Sole                    70256
MASTERCARD INC CL A            COM              57636Q104     2378     5655 SH       Sole                     5655
MATERION CORP                  COM              576690101     2024    70434 SH       Sole                    70434
MB FINL INC NEW                COM              55264U108     2356   112252 SH       Sole                   112252
MCDONALDS CORP COM             COM              580135101     1648    16800 SH       Sole                    16800
MEAD JOHNSON NUTRITION CO COM  COM              582839106     1534    18600 SH       Sole                    18600
MEADOWBROOK INSURANCE GRP INC  COM              58319P108     2068   221690 SH       Sole                   221690
MEDCO HEALTH SOLUTIONS INC COM COM              58405U102     1265    18000 SH       Sole                    18000
MEDIDATA SOLUTIONS INC COM     COM              58471A105      354    13300 SH       Sole                    13300
MEDTRONIC INC COM              COM              585055106     6102   155700 SH       Sole                   155700
MENTOR GRAPHICS INC            COM              587200106     1852   124611 SH       Sole                   124611
METLIFE INC COM                COM              59156R108     3187    85325 SH       Sole                    85325
MICREL INC                     COM              594793101     2390   232963 SH       Sole                   232963
MICROSEMI CORP                 COM              595137100     2462   114810 SH       Sole                   114810
MICROSOFT CORP COM             COM              594918104     8441   261700 SH       Sole                   261700
MOHAWK INDUSTRIES INC          COM              608190104     4494    67563 SH       Sole                    67563
MTS SYSTEMS CORP               COM              553777103     2773    52240 SH       Sole                    52240
NATIONAL INSTRUMENTS CORP      COM              636518102     2038    71456 SH       Sole                    71456
NEUSTAR INC CL A               COM              64126X201     1780    47784 SH       Sole                    47784
NEXTERA ENERGY INC COM         COM              65339F101      415     6800 SH       Sole                     6800
NIKE INC CL B                  COM              654106103     3465    31950 SH       Sole                    31950
NOBLE ENERGY INC               COM              655044105     3689    37730 SH       Sole                    37730
NORDSTROM INC                  COM              655664100     3336    59876 SH       Sole                    59876
NORFOLK SOUTHN CORP COM        COM              655844108     2146    32600 SH       Sole                    32600
NORTHERN OIL & GAS INC NEV     COM              665531109      949    45750 SH       Sole                    45750
NOVARTIS AG SPONSORED ADR      COM              66987V109     7201   129950 SH       Sole                   129950
OCCIDENTAL PETE CORP COM       COM              674599105     1914    20100 SH       Sole                    20100
OLD NATIONAL BANCORP IND       COM              680033107     2295   174690 SH       Sole                   174690
OMNICOM GROUP INC COM          COM              681919106     4331    85500 SH       Sole                    85500
ORACLE CORP COM                COM              68389X105     7598   260575 SH       Sole                   260575
OSI SYSTEMS INC COM STK        COM              671044105     1684    27465 SH       Sole                    27465
PALL CORP                      COM              696429307     2931    49152 SH       Sole                    49152
PANERA BREAD CO CL A           COM              69840W108      737     4580 SH       Sole                     4580
PARAMETRIC TECHNOLOGY CORP NEW COM              699173209     3118   111599 SH       Sole                   111599
PARK ELECTROCHEMICAL CORP      COM              700416209     2350    77749 SH       Sole                    77749
PARKER HANNIFIN CORP COM       COM              701094104      465     5500 SH       Sole                     5500
PDL BIOPHARMA INC              COM              69329Y104      647   101672 SH       Sole                   101672
PEABODY ENERGY CORP            COM              704549104     2711    93617 SH       Sole                    93617
PEPSICO INC COM                COM              713448108     8174   123200 SH       Sole                   123200
PHILIP MORRIS INTL INC COM     COM              718172109     5248    59225 SH       Sole                    59225
PORTFOLIO RECOVERY ASSOCS INC  COM              73640Q105     1626    22678 SH       Sole                    22678
POTASH CORP SASK INC COM       COM              73755L107     2564    56125 SH       Sole                    56125
PRAXAIR INC COM                COM              74005P104     1765    15400 SH       Sole                    15400
PRICE SMART INC                COM              741511109     2111    28987 SH       Sole                    28987
PRICELINE COM INC COM NEW      COM              741503403     2152     3000 SH       Sole                     3000
PROCTER & GAMBLE CO COM        COM              742718109     6632    98675 SH       Sole                    98675
PSS WORLD MED INC              COM              69366A100     4931   194579 SH       Sole                   194579
QUALCOMM INC COM               COM              747525103     6170    90650 SH       Sole                    90650
RLI CORP                       COM              749607107     1395    19469 SH       Sole                    19469
ROPER INDUSTRIES INC           COM              776696106     4221    42567 SH       Sole                    42567
SCHLUMBERGER LTD COM           COM              806857108     4921    70375 SH       Sole                    70375
SELECTIVE INSURANCE GROUP INC  COM              816300107     2234   126834 SH       Sole                   126834
SENSIENT TECHNOLOGIES CORP     COM              81725T100     2637    69404 SH       Sole                    69404
SIGMA-ALDRICH CORP             COM              826552101     2639    36116 SH       Sole                    36116
SIGNATURE BANK                 COM              82669G104     1602    25417 SH       Sole                    25417
SM ENERGY CO                   COM              78454L100     1807    25533 SH       Sole                    25533
SOTHEBYS DELAWARE              COM              835898107     1600    40667 SH       Sole                    40667
SOUTHERN CO COM                COM              842587107     4077    90750 SH       Sole                    90750
STARBUCKS CORP COM             COM              855244109     1322    23655 SH       Sole                    23655
STATE STR CORP COM             COM              857477103     3113    68425 SH       Sole                    68425
STEINER LEISURE LTD            COM              P8744Y102     3335    68307 SH       Sole                    68307
STIFEL FINANCIAL CORP          COM              860630102     1246    32941 SH       Sole                    32941
STRYKER CORP COM               COM              863667101     1401    25250 SH       Sole                    25250
SUNCOR ENERGY INC NEW COM      COM              867224107     1553    47500 SH       Sole                    47500
SYMANTEC CORP COM              COM              871503108     1742    93132 SH       Sole                    93132
SYNTEL INC                     COM              87162H103     1873    33448 SH       Sole                    33448
TEMPUR-PEDIC INTERNATIONAL INC COM              88023U101     2325    27542 SH       Sole                    27542
TENNANT CO                     COM              880345103     1934    43946 SH       Sole                    43946
TENNECO AUTOMOTIVE INC         COM              880349105     1586    42698 SH       Sole                    42698
TETRA TECH INC NEW             COM              88162G103     4829   183186 SH       Sole                   183186
TEVA PHARMACEUTICAL INDS LTD A COM              881624209     3412    75725 SH       Sole                    75725
TEXAS INSTRUMENTS INC COM      COM              882508104     4678   139175 SH       Sole                   139175
THERMO FISHER CORP COM         COM              883556102     1680    29800 SH       Sole                    29800
TIDEWATER INC                  COM              886423102     2997    55474 SH       Sole                    55474
TRAVELERS COS INC COM          COM              89417E109     2655    44850 SH       Sole                    44850
ULTA SALON COSMETICS &         COM              90384S303     1646    17720 SH       Sole                    17720
UMB FINANCIAL CORP             COM              902788108     2311    51668 SH       Sole                    51668
UNITED BANKSHARES INC W VA-    COM              909907107     2224    77049 SH       Sole                    77049
UNITED PARCEL SVC INC CL B     COM              911312106      404     5000 SH       Sole                     5000
UNITEDHEALTH GROUP INC COM     COM              91324P102     1031    17500 SH       Sole                    17500
US BANCORP DEL COM NEW         COM              902973304     7512   237125 SH       Sole                   237125
VALEANT PHARMACEUTICALS        COM              91911K102     3627    67558 SH       Sole                    67558
VALUECLICK INC                 COM              92046N102     2006   101641 SH       Sole                   101641
VCA ANTECH INC                 COM              918194101     3563   153509 SH       Sole                   153509
VERIZON COMMUNICATIONS INC COM COM              92343V104      451    11800 SH       Sole                    11800
VITAMIN SHOPPE INC             COM              92849E101     1204    27241 SH       Sole                    27241
VMWARE INC CL A COM            COM              928563402     1461    13000 SH       Sole                    13000
WD 40 CO                       COM              929236107     1795    39586 SH       Sole                    39586
WELLS FARGO & CO NEW COM       COM              949746101     1161    34000 SH       Sole                    34000
WERNER ENTERPRISES INC         COM              950755108     1662    66848 SH       Sole                    66848
WEST PHARMACEUTICAL SVSC INC   COM              955306105     3731    87717 SH       Sole                    87717
WESTAR ENERGY INC              COM              95709T100     2955   105809 SH       Sole                   105809
WHOLE FOODS MKT INC COM        COM              966837106     1331    16000 SH       Sole                    16000
WILLIAMS COS INC               COM              969457100     2398    77835 SH       Sole                    77835
WOLVERINE WORLD-WIDE INC       COM              978097103     1398    37612 SH       Sole                    37612
WOODWARD GOVERNOR CO           COM              980745103     1045    24393 SH       Sole                    24393
WORLD FUEL SVCS CORP           COM              981475106     1835    44760 SH       Sole                    44760
WORTHINGTON INDUSTRIES INC     COM              981811102     1939   101072 SH       Sole                   101072
WYNN RESORTS LTD               COM              983134107     3675    29432 SH       Sole                    29432
YUM BRANDS INC COM             COM              988498101     1424    20000 SH       Sole                    20000