Tributary Capital Management named Applied Materials a notable addition in its Q2 2026 investor letter, saying strong demand is lifting the chip-equipment maker's profit outlook. The Multi Cap Core equity allocation returned 12.5%, below the S&P 1500's 15.3%.
Information Technology was the main driver of the strategy's 2.8-percentage-point underperformance. Its technology holdings gained 23% in Q2, below the S&P 1500 technology sector's 32.3% return.
Applied Materials supplies semiconductor fabrication equipment, services and software. Its shares closed at $474.38 on Sept. 23, 2026, down 1.65% over the prior month and up 137.67% over the prior year.
