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        <name>ADAMS CNTY NE SCH DIST #18</name>
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        <name>NEBRASKA ST CLGS STUDENT FEES</name>
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        <name>DOUGLAS CNTY NE HOSP AUTH #2</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>GRAND ISLAND NE COMBINED UTILS</name>
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        <name>OMAHA NE PUBLIC FACS CORP LEAS</name>
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        <name>KEARNEY NE</name>
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          <maturityDt>2027-06-15</maturityDt>
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        <name>YORK CNTY NE SCH DIST #12</name>
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        <name>DIST ENERGY CORP NE FAC REVENU</name>
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        <name>COLUMBUS NE COMB REVENUE</name>
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          <maturityDt>2032-06-15</maturityDt>
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        <name>DOUGLAS CNTY NE SCH DIST #59</name>
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        <name>SARPY CNTY NE SCH DIST #37</name>
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        <name>YORK CNTY NE SCH DIST #96</name>
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        <name>OMAHA NE PUBLIC FACS CORP LEAS</name>
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        <name>DOUGLAS CNTY NE SCH DIST #10</name>
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        <name>OMAHA NE SPL TAX REVENUE</name>
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        <name>NEBRASKA ST CLG FACS CORP</name>
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      <invstOrSec>
        <name>OMAHA NE PUBLIC FACS CORP LEAS</name>
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        <name>JEFFERSON CNTY NE</name>
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        <name>DODGE CNTY NE SCH DIST #1</name>
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        <name>DOUGLAS CNTY NE SCH DIST #66</name>
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        <name>SARPY CNTY NE SCH DIST #37</name>
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        <name>BURT CNTY NE SCH DIST #20</name>
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        <name>OMAHA NE PUBLIC PWR DIST ELEC</name>
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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEATRICE NE ECON DEV</name>
        <lei>N/A</lei>
        <title>City of Beatrice NE</title>
        <cusip>074128AB5</cusip>
        <identifiers>
          <isin value="US074128AB58"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298702.74000000</valUSD>
        <pctVal>0.590986982897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMAHA NE</name>
        <lei>N/A</lei>
        <title>City of Omaha NE</title>
        <cusip>681713AQ6</cusip>
        <identifiers>
          <isin value="US681713AQ62"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217523.94000000</valUSD>
        <pctVal>0.430373745512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOYS TOWN VLG NE REVENUE</name>
        <lei>N/A</lei>
        <title>Village of Boys Town NE</title>
        <cusip>103627AC9</cusip>
        <identifiers>
          <isin value="US103627AC92"/>
        </identifiers>
        <balance>435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395124.77000000</valUSD>
        <pctVal>0.781759135153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAPILLION-LA VISTA NE SCH DIST</name>
        <lei>N/A</lei>
        <title>Papillion-La Vista School District No. 27</title>
        <cusip>698873YT7</cusip>
        <identifiers>
          <isin value="US698873YT79"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>349986.81000000</valUSD>
        <pctVal>0.692453135501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAND ISLAND NE COMBINED UTILS</name>
        <lei>N/A</lei>
        <title>City of Grand Island NE Combined Utility System Revenue</title>
        <cusip>385630BG2</cusip>
        <identifiers>
          <isin value="US385630BG20"/>
        </identifiers>
        <balance>430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>436347.49000000</valUSD>
        <pctVal>0.863318785124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Tributary Funds, Inc.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Karen Shaw</ncom:signature>
      <ncom:signerName>Karen Shaw</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
