Now Available — 2019 Year-End Capital Gains Distributions
Investment information for financial intermediaries including advisors, broker-dealers, RIAs, and research teams.
Mutual fund information including performance, commentary, holdings, distributions, and prospectuses are available for individual investors.
2020 FORECAST FOR SMALL CAP STOCKS
 | Considering small cap stocks have historically outperformed large caps, though with greater volatility, here’s what we believe this year holds for small caps. Read More |
Q4 2019 INDUSTRY PERSPECTIVES
 | For the first time in U.S. history, the U.S. economy started and ended an entire decade without a recession. What a difference a year makes! Read More |
BEAR MARKETS & CLIENT EXPECTATIONS
 | It’s a conversation no one wants to have. However, this is one topic that advisors committed to their clients’ best interests need to broach before the next significant and sustained market drop. Read More |
| FUND | TICKER | NAV | CNG ($) | CNG (%) | YTD (%) | |
| DISCOVERY FUND | BUFTX | $23.98 | $-0.80 | -3.23% | -1.03% | |
| DIVIDEND FOCUS FUND | BUFDX | $18.53 | $-0.54 | -2.83% | -2.47% | |
| EMERGING OPPORTUNITIES FUND | BUFOX | $16.51 | $-0.60 | -3.51% | -1.37% | |
| FLEXIBLE INCOME FUND | BUFBX | $15.02 | $-0.42 | -2.72% | -4.95% | |
| GROWTH FUND | BUFGX | $24.75 | $-0.81 | -3.17% | -1.94% | |
| HIGH YIELD FUND | BUFHX | $11.16 | $-0.05 | -0.45% | 0.19% | |
| INTERNATIONAL FUND | BUFIX | $16.14 | $-0.27 | -1.65% | -4.44% | |
| LARGE CAP FUND | BUFEX | $34.59 | $-1.00 | -2.81% | -1.23% | |
| MID CAP FUND | BUFMX | $15.36 | $-0.52 | -3.27% | -0.19% | |
| SMALL CAP FUND | BUFSX | $13.50 | $-0.58 | -4.12% | -1.17% |
| FUND | TICKER | NAV | CNG ($) | CNG (%) | YTD (%) | |
| DISCOVERY FUND | BUITX | $24.01 | $-0.80 | -3.22% | -0.99% | |
| DIVIDEND FOCUS FUND | BUIDX | $18.54 | $-0.53 | -2.78% | -2.42% | |
| EMERGING OPPORTUNITIES FUND | BUIOX | $16.53 | $-0.60 | -3.50% | -1.31% | |
| FLEXIBLE INCOME FUND | BUIBX | $15.02 | $-0.42 | -2.72% | -4.87% | |
| GROWTH FUND | BIIGX | $24.76 | $-0.80 | -3.13% | -1.90% | |
| HIGH YIELD FUND | BUIHX | $11.15 | $-0.05 | -0.45% | 0.21% | |
| INTERNATIONAL FUND | BUIIX | $16.14 | $-0.28 | -1.71% | -4.44% | |
| LARGE CAP FUND | BUIEX | $34.62 | $-1.01 | -2.83% | -1.23% | |
| MID CAP FUND | BUIMX | $15.37 | $-0.53 | -3.33% | -0.19% | |
| SMALL CAP FUND | BUISX | $13.51 | $-0.58 | -4.12% | -1.17% |
Featured Articles
Top 20 Female Portfolio Managers in America 2019
List of the “Top 20 Female Portfolio Managers in the U.S.” according to Citywire includes Buffalo Fund manager Nicole Kornitzer, one of only 7 women to be included in consecutive years.
How an International Stock Fund Finds Its Winning Recipe
Nicole Kornitzer, Buffalo International Fund co-portfolio manager, discusses her team’s approach to finding premier growth companies that are poised to take advantage of global trends.
These European Companies Benefit from High Health-care Prices in the U.S.
Nicole Kornitzer (Buffalo International Fund co-PM) described her team’s top-down strategy of studying secular growth trends within the health care industry and identifies 3 companies which are well-positioned to benefit from these long-term trends.
Focusing on Midcaps with Secular Growth Tailwinds
Josh West and Chris Carter, Buffalo Mid Cap co-portfolio managers, discuss a variety of issues affecting their investment strategy, including the current interest rate environment, globalization, the growth of ESG investing, and Millennials.
Diversification does not assure a profit, nor does it protect against a loss in a declining market.
Active investing has higher management fees because of the manager’s increased level of involvement while passive investing has lower management and operating fees. Investing in both actively and passively managed mutual funds involves risk and principal loss is possible. Both actively and passively managed mutual funds generally have daily liquidity. There are no guarantees regarding the performance of actively and passively managed mutual funds. Actively managed mutual funds may have higher portfolio turnover than passively managed funds. Excessive turnover can limit returns and can incur capital gains.
Featured Funds
Discovery Fund
Total Assets $1.80 Billion (12/31/19)
Expense Ratio 1.02% / 0.87%
Benchmark Morningstar U.S. Mid Growth
International Fund
Total Assets $432.04 Million (12/31/19)
Expense Ratio 1.06% / 0.91%
Benchmark Morningstar Global Markets ex-US
Emerging Opportunities Fund
Total Assets $93.17 Million (12/31/19)
Expense Ratio 1.49% / 1.34%
Benchmark Morningstar U.S. Small Growth
Small Cap Fund
Total Assets $555.49 Million (12/31/19)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar U.S. Small Growth
A Note From Our Founder
The core of our organization is driven by a working philosophy which stresses a team-based investment management structure, independent thinking, in-depth and in-house research, and a long-term focus.
We invest alongside our clients and mutual fund shareholders and have a pride of independent ownership.
~ John C. Kornitzer, Founder Buffalo Funds
Fundamental Approach
We get to know the companies we invest in and learn how they run their business.
Top-Down & Bottom-Up
We identify Top-Down broad, secular growth trends and search for companies from the Bottom-Up.
Proprietary Philosophy
We construct our portfolios based on our own proprietary investment strategy.
Disciplined Investing
Sticking to our disciplined investment strategy ensures we maintain a consistent, balanced approach.