Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview

Kiplinger recognized the Buffalo Small Cap Fund as a “Top-Performing Mutual Fund” in their recent fund analysis for the period ending September 30, 2021.

The Buffalo Small Cap Fund (BUFSX) ranked #6 in the Small-Company Stock Funds category for the 20-year annualized return based on Morningstar’s universe of 25,000+ funds. (BUFSX was not ranked in the top 10 for the 1, 3, 5, or 10-year time period)

Management Team:

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 funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.

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Barron’s Profile of Buffalo Small Cap Fund PM Bob Male

Barron’s Profile of Buffalo Small Cap Fund PM Bob Male

Media Coverage

Barron’s Profile of Buffalo Small Cap Fund PM Bob Male

Overview

Buffalo Small Cap Fund (BUFSX / BUISX) co-portfolio manager Bob Male, CFA, was recently featured in a profile by Barron’s in which he tells the story of how the firm has grown over the past 25 years and how his original focus on finding small cap companies is still his focus today. In the article, Bob describes his approach to picking premier growth stocks based on in-depth analysis of company fundamentals and highlights several small, innovative companies the Small Cap Fund investment team have identified that are transforming entrenched industries.

Investing in small companies is a little like playing golf. It can be very frustrating at times, but when you hit a shot just right, and it lands on the green, there’s nothing like it. That’s what keeps you coming back.
~ Bob Male, CFA, Co-Portfolio Manager, Buffalo Small Cap Fund

The article also identifies several small-cap stocks in the Buffalo Small Cap Fund portfolio which illustrate the Fund’s investment process in action:

  • Purple Innovation – (NASDAQ: PRPL)
  • Steve Madden – (NASDAQ: SHOO)
  • Palomar Holdings – (NASDAQ: PLMR)
  • Trade Desk – (NASDAQ: TTD)
  • Quidel – (NASDAQ: QDEL)
  • Open Lending – (NASDAQ: LPRO)
  • EverQuote – (NASDAQ: EVER)

CLICK HERE to access the Barron’s article. (subscription required)

Opinions expressed are those of the author or Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not to be considered an offer to buy or sell these securities. A complete list of the Fund’s holdings can be found here. Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.

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 of higher than the performance quoted and can be found here; quarter-end performance can be found here. Performance is annualized for periods greater than 1 year.

Buffalo Small Cap Fund portfolio manager – Bob Male
HIGHLIGHT

Bob Male, Buffalo Small Cap co-portfolio manager, discusses his team’s trend-spotting and portfolio-building strategies that help the Fund find small companies with the potential to grow into large ones.

MEDIA CONTACT

Featured Articles


Finding Small-Cap Innovators in Technology

Finding Small-Cap Innovators in Technology

Craig Richard, Buffalo Early Stage Growth Fund co-portfolio manager, was recently interviewed by The Wall Street Transcript where he discusses IPOs and being overweight in the technology sector. He also shares his thoughts on investing in early stage growth companies, highlighting several examples of companies in the Fund’s portfolio.

Buffalo Mutual Fund Plays Major Themes With Stocks

Buffalo Mutual Fund Plays Major Themes With Stocks

Ken Laudan, Buffalo Large Cap Fund portfolio manager, was recently interviewed by Investor’s Business Daily where he discusses industry trends that help identify opportunities with the potential for market outperformance.

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.

Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview

Kiplinger recognized the Buffalo Small Cap Fund as a “Top-Performing Mutual Fund” in their recent fund analysis for the period ending August 31, 2021.

The Buffalo Small Cap Fund (BUFSX) ranked #7 in the Small-Company Stock Funds category for the 20-year annualized return based on Morningstar’s universe of 25,000+ funds. (BUFSX was not ranked in the top 10 for the 1, 3, 5, or 10-year time period)

Management Team:

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 funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Finding Small-Cap Innovators in Technology

Finding Small-Cap Innovators in Technology

Media Coverage

Finding Small-Cap Innovators in Technology

Buffalo Funds Early Stage Growth co-portfolio manager Craig Richard, CFA, was recently interviewed by The Wall Street Transcript where he discusses IPOs and being overweight in the technology sector. In the article, Craig also cites several examples of companies within the Fund’s portfolio that highlight the team’s investment strategy at work:

  • Open Lending (NASDAQ: LPRO)
  • 1847 Goedeker (NYSEAMERICAN: GOED)
  • Establishment Labs (NASDAQ: ESTA)

As an early stage growth fund, we’re looking for disruptive share gainers, and historically, the technology sector in the small-cap universe has been a good source for those type of names. ~ Craig Richard, CFA, Co-Portfolio Manager, Buffalo Early Stage Growth Fund

To access The Wall Street Transcript article click here. (subscription required)

Diversification does not assure a profit, nor does it protect against a loss in a declining market. Past performance does not guarantee future results. Earnings growth is not representative of the fund’s future performance. Opinions expressed are those of the author or Funds as of 9/13/21 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not to be considered an offer to buy or sell these securities. A complete list of the Fund’s holdings can be found here. Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.

EBITDA stands for earnings before interest, taxes, depreciation and amortization. EBITDA is one indicator of a company’s financial performance and is used as a proxy for a company’s current operating profitability. Net-debt-to-EBITDA ratio is a measurement of leverage, calculated as a company’s interest-bearing liabilities minus cash or cash equivalents, divided by its EBITDA. The net debt-to-EBITDA ratio is a debt ratio that shows how many years it would take for a company to pay back its debt if net debt and EBITDA are held constant. Short interest is the number of shares that have been sold short but have not yet been covered or closed out. A special purpose acquisition company (SPAC) is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Enterprise value is a measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. The enterprise value to earnings before interest, taxes, depreciation, and amortization ratio (EV/EBITDA) compares the value of a company—debt included—to the company’s cash earnings less non-cash expenses. A basis point is one hundredth of a percentage point (0.01%). Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index. The Russell 2000 Growth Index measures the performance of those Russell 2000 Index companies with higher price-to-book ratios and higher forecasted growth values. It is not possible to invest directly in an index.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Buffalo Mutual Fund Plays Major Themes With Stocks

Buffalo Mutual Fund Plays Major Themes With Stocks

Media Coverage

Buffalo Mutual Fund Plays Major Themes With Stocks

Buffalo Funds Large Cap portfolio manager Ken Laudan was recently interviewed by Investor’s Business Daily (IBD) where he discusses how he uses industry growth trends, such as cloud computing, digitalization of workflow, cybersecurity, electrification of vehicles and digital payments, to identify opportunities with the potential for outperformance. He also cites several examples of companies within the Fund’s portfolio that highlight his investment strategy at work:

  • ASML Holding (NASDAQ: ASML)
  • Alphabet (NASDAQ: GOOGL)
  • Danaher (NYSE: DHR)

I’m trying to build a large-cap portfolio whose holdings represent the best ideas of major (economic) themes. However, it gets harder and harder to find stocks with a disconnect. ~ Ken Laudan, Portfolio Manager, Buffalo Large Cap Fund

To access the IBD article click here.

Past performance does not guarantee future results. Earnings growth is not representative of the Fund’s future performance. Performance data quoted represents past performance and 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 may be lower or higher than the performance quoted. Standardized performance can be obtained here.

Opinions expressed are those of the author or Fund as of 9/3/21 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. A complete list of the Fund’s holdings can be found here. Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

The Russell 1000 Growth Index measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. The S&P 500 is a capitalization weighted index of 500 large capitalization stocks which is designed to measure broad domestic securities markets. One cannot invest directly in an index.

The Buffalo Large Cap Fund was included in the Best U.S. Diversified Funds list. Funds named to the Investor’s Business Daily 2021 Best Mutual Funds Award Winner list were chosen because they have outperformed their benchmark index (S&P 500) over the past 1, 3, 5, and 10-year periods, as of 12/31/20. In order to make the list, funds must have outperformed in all four time periods. IBD made its selections from 1,286 U.S. diversified stock mutual funds that met the criteria of having at least 10 years of operation. To view IBD’s complete list and analysis of the Best Mutual Funds 2021, please visit: https://www.investors.com/etfs-and-funds/mutual-funds/best-mutual-funds-beating-sp-500-over-last-1-3-5-10-years/.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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“Money Life Market Call” with Buffalo Early Stage Growth Fund PM Doug Cartwight

“Money Life Market Call” with Buffalo Early Stage Growth Fund PM Doug Cartwight

Media Coverage

“Money Life Market Call” with Buffalo Early Stage Growth Fund PM Doug Cartwight

Overview

Buffalo Funds Early Stage Growth co-portfolio manager Doug Cartwright, CFA, recently appeared on the “Money Life with Chuck Jaffe” podcast.

During the call, Doug goes in-depth on small-cap investing, providing an overview of his investment methodology, and also provides his thoughts on the following companies:

  • Overstock.com (NASDAQ: OSTK)
  • Accel Entertainment (NYSE: ACEL)
  • DraftKings (NASDAQ: DKNG)
  • Rush Street Interactive (NYSE: RSI)
  • Community Healthcare Trust (NYSE: CHCT)
  • Trupanion (NASDAQ: TRUP)
  • LendingTree (NASDAQ: TREE)

We define early stage as having a new product or a new service or a new way of going to market or a new way of doing things. And then we tend to look at companies that are disruptive either because they have a superior product or a better way of doing things or a better way of going to market.

~ Doug Cartwright, CFA, Co-Portfolio Manager, Buffalo Early Stage Growth Fund

MORE ABOUT DOUG


Doug Cartwright, CFA
Portfolio Manager
15 Years of Experience
 View full bio

Opinions expressed are those of the author or Funds as of 8/17/21 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. A full listing of the Buffalo Early Stage Growth Fund portfolio holdings can be found here. Past performance does not guarantee future results.

EBITDA stands for earnings before interest, taxes, depreciation and amortization. EBITDA is one indicator of a company’s financial performance and is used as a proxy for a company’s current operating profitability. Cashflow is a measure of the cash produced by the firm in a given period on behalf of equity holders. The true measure of the value of a firm’s equity is considered to be the present value of all free cash flows. The S&P 500 is a capitalization weighted index of 500 large capitalization stocks which is designed to measure broad domestic securities markets. The Russell 2000 Growth Index, also referred to as the small cap growth index, is an unmanaged index that measures the performance of those Russell 2000 Index companies with higher price-to-book ratios and higher forecasted growth values. It is not possible to invest directly in an index.

As of 3/31/21 the Buffalo Early Stage Growth Fund top 10 equity holdings were 8×8 2.94%, Open Lending Corp 2.59%, NV5 Global 2.50%, Shutterstock 2.33%, Omnicell 2.31%, Mimecast 2.25%, EverQuote 2.06%, Patrick Industries 1.94%, Compass Diversified 1.87%, Absolute Software Corp 1.86%. Top 10 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.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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