BLUE CHIP GROWTH FUND
BUFEX | BUIEX
SEEKING STRENGTH IN BLUE CHIP GROWTH OPPORTUNITIES
In the Blue Chip Growth Fund, we look for companies we believe have the potential to grow based on identification of long-term, measurable secular trends.
“Our Fund’s bias is the focus on high quality growth companies led by strong, capable management teams looking to change the world in a durable way.”
— Ken Laudan,
Portfolio Manager
Objective
Long-term growth of capital
Morningstar CategoryLarge Cap Growth
Benchmark IndexRussell 1000® Growth Index
Dividend DistributionAnnual
Overall Morningstar Rating™
BUFEX based on risk-adjusted
returns as of 3/31/2026 among 998 US Fund Large Growth funds
| Ticker | BUFEX Investor | BUIEX Institutional |
|---|---|---|
| Inception | 5/19/1995 | 7/1/2019 |
| Expense Ratio | 0.90% | 0.78% |
| Net Assets | $45.94 mil | $131.70 mil |
| Cusip | 119628105 | 119530830 |
| *as of 4/22/2026 | ||
Daily Prices as of 4/22/2026
Daily Prices as of 4/22/2026
| Ticker |
BUFEX Investor |
BUIEX Institutional |
|---|---|---|
| NAV | $60.69 | $61.25 |
| $Chg | $0.88 | $0.89 |
| %Chg | 1.47% | 1.47% |
| YTD % | 3.18% | 3.22% |
HIGHLIGHTS & COMMENTARIES
Our managers share their insights on the Fund and the markets
PERFORMANCE
Month-end
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 03/31/2026 | TICKER | MO | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| BLUE CHIP GROWTH | ||||||||||
| Investor Shares | BUFEX | -5.17 | -7.67 | 16.98 | 19.55 | 11.11 | 14.78 | 13.36 | 11.03 | 10.74 |
| Institutional Shares | BUIEX | -5.17 | -7.65 | 17.10 | 19.69 | 11.26 | 14.94 | 13.52 | 11.19 | 10.90 |
| Russell 1000® Growth Index | - | -5.21 | -9.78 | 18.81 | 21.18 | 12.76 | 16.83 | 15.33 | 12.48 | 11.02 |
| Lipper Large Cap Growth Funds Index | - | -5.32 | -8.74 | 18.68 | 20.55 | 10.32 | 15.52 | 13.71 | 10.90 | 9.78 |
*Since inception.
| Investor Inception | Investor Expense Ratio | Institutional Inception | Institutional Expense Ratio | |
|---|---|---|---|---|
| BLUE CHIP GROWTH | 5/19/1995 | 0.90% | 7/1/2019 | 0.78% |
QUARTER-END PERFORMANCE
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 03/31/2026 | TICKER | QTR | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| BLUE CHIP GROWTH | ||||||||||
| Investor Shares | BUFEX | -7.67 | -7.67 | 16.98 | 19.55 | 11.11 | 14.78 | 13.36 | 11.03 | 10.74 |
| Institutional Shares | BUIEX | -7.65 | -7.65 | 17.10 | 19.69 | 11.26 | 14.94 | 13.52 | 11.19 | 10.90 |
| Russell 1000® Growth Index | - | -9.78 | -9.78 | 18.81 | 21.18 | 12.76 | 16.83 | 15.33 | 12.48 | 11.02 |
| Lipper Large Cap Growth Funds Index | - | -8.74 | -8.74 | 18.68 | 20.55 | 10.32 | 15.52 | 13.71 | 10.90 | 9.78 |
*Since inception.
CALENDAR YEAR %
| TICKER | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BLUE CHIP GROWTH | |||||||||||
| Investor Shares | BUFEX | 6.90 | 24.86 | -1.63 | 31.77 | 28.08 | 26.08 | -28.61 | 40.39 | 28.87 | 16.25 |
| Institutional Shares | BUIEX | 7.06 | 25.05 | -1.48 | 31.98 | 28.28 | 26.27 | -28.51 | 40.52 | 29.03 | 16.42 |
| Russell 1000® Growth Index | - | 7.08 | 30.21 | -1.51 | 36.39 | 38.49 | 27.60 | -29.14 | 42.68 | 33.36 | 18.56 |
| Lipper Large Cap Growth Funds Index | - | 5.61 | 0.54 | 31.85 | -0.47 | 33.56 | 38.60 | 22.36 | -32.03 | 42.03 | 30.73 |
For performance prior to 7/1/19 (Inception Date of Institutional Class), performance of the Investor Class shares is used and includes expenses not applicable and lower than those of Investor Class shares.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted and can be obtained above. Performance is annualized for periods greater than 1 year.
HOW WE INVEST
FUNDAMENTAL
APPROACH
We get to know the
companies we invest in
and learn how they run
their businesses.
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
We maintain a
consistent, balanced
approach by sticking
to our disciplined
investment strategy
MORNINGSTAR RATINGS & PERCENTILE RANKINGS
| As of 3/31/2026 | TICKER | CATEGORY | OVERALL | 3YR | 5YR | 10YR |
|---|---|---|---|---|---|---|
| BLUE CHIP GROWTH | BUFEX | US Fund Large Growth |
_
|
48% of 998 funds
|
31% of 937 funds
|
43% of 763 funds
|
Ratings & Rankings may vary for other share classes.
PORTFOLIO CHARACTERISTICS
3-YEAR RISK METRICS
As of 9/30/2025
| BUFEX vs. Russell 1000® Growth Index | |
|---|---|
| Upside Capture | 85.10 |
| Downside Capture | 89.34 |
| Alpha | 0.52 |
| Beta | 0.90 |
| Sharpe Ratio | 1.67 |
CHARACTERISTICS
As of 9/30/2025
| Portfolio | Value |
|---|---|
| Number of Holdings | 82 |
| Median Market Cap (B) | $ 145.50 |
| Weighted Average Market Cap (B) | $ 2,018.37 |
| 3-Year Annualized Turnover Ratio | |
| Holdings with Free Cash Flow | 86.59% |
| Active Share | 30.57% |
MARKET CAPITALIZATION
As of 9/30/2025
| Mid Cap ($4.5B-$30B) | 3.51% | |
| Large Cap (>$30B) | 96.49% |
May not equal 100% due to rounding.
SECTOR WEIGHTS
As of 9/30/2025
Security weightings are subject to change and are not recommendations to buy or sell any securities. Sector Allocation may not equal 100% due to rounding.
HOLDINGS
As of 12/31/2025
| Holding | Ticker | Sector | % of Net Assets |
|---|---|---|---|
| NVIDIA Corp | NVDA | Information Technology | 11.99% |
| Microsoft Corp | MSFT | Information Technology | 10.06% |
| Apple Inc | AAPL | Information Technology | 9.87% |
| Alphabet Inc | GOOGL | Communication Services | 6.42% |
| Amazon.com Inc | AMZN | Consumer Discretionary | 5.22% |
| Broadcom Inc | AVGO | Information Technology | 4.08% |
| Meta Platforms Inc | META | Communication Services | 3.60% |
| Eli Lilly & Co | LLY | Health Care | 2.12% |
| Mastercard Inc | MA | Financials | 1.75% |
| Tesla Inc | TSLA | Consumer Discretionary | 1.74% |
| TOP 10 HOLDINGS TOTAL | 56.84% | ||
| Visa Inc | V | Financials | 1.70% |
| Netflix Inc | NFLX | Communication Services | 1.19% |
| Taiwan Semiconductor Manufacturing Co Ltd | TSM | Information Technology | 1.04% |
| GE AEROSPACE | GE | Industrials | 1.01% |
| Intuit Inc | INTU | Information Technology | 0.93% |
| Abbott Laboratories | ABT | Health Care | 0.81% |
| Johnson & Johnson | JNJ | Health Care | 0.78% |
| Berkshire Hathaway Inc | BRK/B | Financials | 0.71% |
| Walmart Inc | WMT | Consumer Staples | 0.68% |
| Exxon Mobil Corp | XOM | Energy | 0.64% |
| Hilton Worldwide Holdings Inc | HLT | Consumer Discretionary | 0.63% |
| Costco Wholesale Corp | COST | Consumer Staples | 0.61% |
| iShares Biotechnology ETF | IBB | 0.61% | |
| Home Depot Inc/The | HD | Consumer Discretionary | 0.60% |
| Linde PLC | LIN | Materials | 0.59% |
| JPMORGAN CHASE & CO. | JPM | Financials | 0.58% |
| ServiceNow Inc | NOW | Information Technology | 0.58% |
| CRH PLC | CRH | Materials | 0.56% |
| Xylem Inc/NY | XYL | Industrials | 0.56% |
| Palo Alto Networks Inc | PANW | Information Technology | 0.56% |
| O'Reilly Automotive Inc | ORLY | Consumer Discretionary | 0.55% |
| Booking Holdings Inc | BKNG | Consumer Discretionary | 0.55% |
| Oracle Corp | ORCL | Information Technology | 0.55% |
| Corning Inc | GLW | Information Technology | 0.54% |
| Honeywell International Inc | HON | Industrials | 0.54% |
| Amphenol Corp | APH | Information Technology | 0.54% |
| Shopify Inc | SHOP | Information Technology | 0.54% |
| GE Vernova Inc | GEV | Industrials | 0.54% |
| S&P Global Inc | SPGI | Financials | 0.54% |
| Advanced Micro Devices Inc | AMD | Information Technology | 0.53% |
| AppLovin Corp | APP | Information Technology | 0.53% |
| Argenx SE | ARGX | Health Care | 0.52% |
| NXP Semiconductors NV | NXPI | Information Technology | 0.51% |
| Yum! Brands Inc | YUM | Consumer Discretionary | 0.51% |
| AbbVie Inc | ABBV | Health Care | 0.51% |
| Thermo Fisher Scientific Inc | TMO | Health Care | 0.51% |
| Westinghouse Air Brake Technologies Corp | WAB | Industrials | 0.51% |
| Cisco Systems Inc | CSCO | Information Technology | 0.50% |
| TJX Cos Inc/The | TJX | Consumer Discretionary | 0.50% |
| ASML Holding NV | ASML | Information Technology | 0.49% |
| Danaher Corp | DHR | Health Care | 0.48% |
| T-Mobile US Inc | TMUS | Communication Services | 0.47% |
| Applied Materials Inc | AMAT | Information Technology | 0.46% |
| Shell PLC | SHEL | Energy | 0.45% |
| Stryker Corp | SYK | Health Care | 0.45% |
| Cadence Design Systems Inc | CDNS | Information Technology | 0.43% |
| Vertex Pharmaceuticals Inc | VRTX | Health Care | 0.42% |
| Arthur J Gallagher & Co | AJG | Financials | 0.42% |
| Ameriprise Financial Inc | AMP | Financials | 0.42% |
| MercadoLibre Inc | MELI | Consumer Discretionary | 0.41% |
| Goldman Sachs Group Inc/The | GS | Financials | 0.41% |
| Union Pacific Corp | UNP | Industrials | 0.41% |
| Ecolab Inc | ECL | Materials | 0.40% |
| UnitedHealth Group Inc | UNH | Health Care | 0.39% |
| Intuitive Surgical Inc | ISRG | Health Care | 0.38% |
| Eaton Corp PLC | ETN | Industrials | 0.38% |
| Medtronic PLC | MDT | Health Care | 0.37% |
| Vistra Corp | VST | Utilities | 0.36% |
| Birkenstock Holding Plc | BIRK | Consumer Discretionary | 0.36% |
| First Solar Inc | FSLR | Information Technology | 0.36% |
| Seagate Technology Holdings PLC | STX | Information Technology | 0.35% |
| Spotify Technology SA | SPOT | Communication Services | 0.35% |
| Uber Technologies Inc | UBER | Industrials | 0.34% |
| Vertiv Holdings Co | VRT | Industrials | 0.34% |
| Trane Technologies PLC | TT | Industrials | 0.33% |
| Salesforce Inc | CRM | Information Technology | 0.33% |
| Zscaler Inc | ZS | Information Technology | 0.33% |
| Arista Networks Inc | ANET | Information Technology | 0.32% |
| Boston Scientific Corp | BSX | Health Care | 0.31% |
| APA Corp | APA | Energy | 0.27% |
| Nutanix Inc | NTNX | Information Technology | 0.27% |
| Cloudflare Inc | NET | Information Technology | 0.25% |
| State Street Consumer Staples Select Sector SPDR ETF | XLP | 0.24% | |
| On Holding AG | ONON | Consumer Discretionary | 0.23% |
| SiTime Corp | SITM | Information Technology | 0.22% |
| FTAI Aviation Ltd | FTAI | Industrials | 0.19% |
| Total Cash or Equivalent | - | 0.32% |
Holdings for the quarter are not disclosed until 60 days after quarter end. Fund holdings are subject to change and are not recommendations to buy or sell any securities.
DIVIDENDS & DISTRIBUTIONS
| TICKER | RECORD DATE | PAYABLE DATE | DISTRIBUTION NAV $ | NET INVESTMENT INCOME $ | SHORT-TERM CAPITAL GAIN $ | LONG-TERM CAPITAL GAIN $ | DISTRIBUTION TOTAL $ | |
|---|---|---|---|---|---|---|---|---|
| BLUE CHIP GROWTH | BUFEX | 12/17/2025 | 12/18/2025 | 57.99 | 0.10773801 | - | - | 0.10773801 |
| BLUE CHIP GROWTH | BUIEX | 12/17/2025 | 12/18/2025 | 58.50 | 0.13377099 | - | - | 0.13377099 |
| BLUE CHIP GROWTH | BUFEX | 12/04/2025 | 12/05/2025 | 59.50 | - | 0.50425 | 3.35562 | 3.85987 |
| BLUE CHIP GROWTH | BUIEX | 12/04/2025 | 12/05/2025 | 60.05 | - | 0.50425 | 3.35562 | 3.85987 |
| BLUE CHIP GROWTH | BUFEX | 12/17/2024 | - | - | - | - | - | - |
| BLUE CHIP GROWTH | BUIEX | 12/17/2024 | - | - | - | - | - | - |
| BLUE CHIP GROWTH | BUFEX | 12/04/2024 | 12/05/2024 | 55.34 | - | 0.06034 | 1.91257 | 1.97291 |
| BLUE CHIP GROWTH | BUIEX | 12/04/2024 | 12/05/2024 | 55.75 | - | 0.06034 | 1.91257 | 1.97291 |
| TICKER | RECORD DATE | EX DATE | TYPE | |
|---|---|---|---|---|
| BLUE CHIP GROWTH | BUFEX | 12/17/2026 | 12/18/2026 | NII |
| BLUE CHIP GROWTH | BUIEX | 12/17/2026 | 12/18/2026 | NII |
| BLUE CHIP GROWTH | BUFEX | 12/4/2026 | 12/7/2026 | Cap Gains |
| BLUE CHIP GROWTH | BUIEX | 12/4/2026 | 12/7/2026 | Cap Gains |
Please note, the table will display information for the past rolling 2 years. If you need historical distribution information, please contact us.
There is no guarantee the Funds will pay distributions in the future and distributions, if any, may be less than the current distribution.
PORTFOLIO MANAGEMENT
DOCUMENTS
APPLICATIONS & FORMS
BUFFALO FUNDS IS PROUD to be the OFFICIAL INVESTMENT SERVICES PARTNER OF SPORTING KANSAS CITY
