Growth & Income Fund
BUFDX | BUIDX
STRONG COMPANIES, SMART VALUATIONS, SUSTAINABLE RETURN POTENTIAL
“We are focused on buying dividend-paying companies that have sustainable competitive advantages, strong return on capital and free cash flow, conservative balance sheets, and great management teams.
We seek to buy these companies at reasonable valuations and believe that holding them for the long term will generate favorable risk-adjusted returns in the Buffalo Growth & Income Fund.”
— Paul Dlugosch, CFA, Co-Portfolio Manager
Objective
Current income & long-term growth of capital
Morningstar CategoryLarge Cap Blend
Benchmark IndexRussell 1000® Index
Dividend DistributionQuarterly
Overall Morningstar Rating™
BUFDX based on risk-adjusted
returns as of 1/31/2026 among 1207 Large Blend funds
| Ticker | BUFDX Investor | BUIDX Institutional |
|---|---|---|
| Inception | 12/3/2012 | 7/1/2019 |
| Expense Ratio | 0.92% | 0.79% |
| Net Assets | $46.12 mil | $131.68 mil |
| Cusip | 119530608 | 119530806 |
| *as of 2/17/2026 | ||
Daily Prices as of 2/17/2026
| Ticker |
BUFDX Investor |
BUIDX Institutional |
|---|---|---|
| NAV | $35.76 | $35.79 |
| $Chg | $0.06 | $0.05 |
| %Chg | 0.17% | 0.14% |
| YTD % | 3.00% | 2.99% |
Past performance does not guarantee future results.
HIGHLIGHTS & COMMENTARIES
Our managers share their insights on the Fund and the markets
PERFORMANCE
Month-end
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 01/31/2026 | TICKER | MO | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| GROWTH & INCOME | ||||||||||
| Investor Shares | BUFDX | 2.45 | 2.45 | 6.71 | 14.96 | 12.45 | 13.25 | - | - | 12.94 |
| Institutional Shares | BUIDX | 2.45 | 2.45 | 6.82 | 15.13 | 12.61 | 13.41 | - | - | 13.11 |
| Russell 1000® Index | - | 1.38 | 1.38 | 15.31 | 20.66 | 14.09 | 15.38 | - | - | 14.74 |
| Lipper Equity Income Funds Index | - | 3.19 | 3.19 | 14.52 | 12.98 | 12.28 | 11.65 | - | - | 11.23 |
*Since inception.
| Investor Inception | Investor Expense Ratio | Institutional Inception | Institutional Expense Ratio | |
|---|---|---|---|---|
| GROWTH & INCOME | 12/3/2012 | 0.92% | 7/1/2019 | 0.79% |
QUARTER-END PERFORMANCE
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 12/31/2025 | TICKER | QTR | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| GROWTH & INCOME | ||||||||||
| Investor Shares | BUFDX | 1.00 | 8.40 | 8.40 | 16.06 | 11.53 | 12.43 | - | - | 12.82 |
| Institutional Shares | BUIDX | 1.03 | 8.54 | 8.54 | 16.23 | 11.69 | 12.60 | - | - | 12.99 |
| Russell 1000® Index | - | 2.41 | 17.37 | 17.37 | 22.74 | 13.59 | 14.59 | - | - | 14.72 |
| Lipper Equity Income Funds Index | - | 2.95 | 15.21 | 15.21 | 13.13 | 11.23 | 10.85 | - | - | 11.04 |
*Since inception.
CALENDAR YEAR %
| TICKER | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWTH & INCOME | |||||||||||
| Investor Shares | BUFDX | 12.06 | 18.02 | -5.05 | 27.66 | 16.64 | 20.97 | -8.75 | 20.06 | 20.13 | 8.40 |
| Institutional Shares | BUIDX | 12.23 | 18.20 | -4.91 | 27.85 | 16.83 | 21.15 | -8.62 | 20.21 | 20.34 | 8.54 |
| Russell 1000® Index | - | 12.05 | 21.69 | -4.78 | 31.43 | 20.96 | 26.45 | -19.13 | 26.53 | 24.51 | 17.37 |
| Lipper Equity Income Funds Index | - | -2.96 | 14.34 | 16.43 | -6.61 | 26.38 | 4.72 | 24.57 | -5.58 | 10.12 | 14.12 |
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 1/31/2026 | TICKER | CATEGORY | OVERALL | 3YR | 5YR | 10YR |
|---|---|---|---|---|---|---|
| GROWTH & INCOME | BUFDX | Large Blend |
_
|
82% of 1207 funds
|
70% of 1123 funds
|
76% of 881 funds
|
Ratings & Rankings may vary for other share classes.
PORTFOLIO CHARACTERISTICS
3-YEAR RISK METRICS
As of 9/30/2025
| BUFDX vs. Russell 1000® Index | |
|---|---|
| Upside Capture | 76.44 |
| Downside Capture | 94.97 |
| Alpha | -1.73 |
| Beta | 0.86 |
| Sharpe Ratio | 1.13 |
CHARACTERISTICS
As of 9/30/2025
| Portfolio | Value |
|---|---|
| Number of Holdings | 90 |
| Median Market Cap (B) | $ 82.97 |
| Weighted Average Market Cap (B) | $ 568.67 |
| 3-Year Annualized Turnover Ratio | 3.22% |
| Holdings with Free Cash Flow | 61.45% |
| 30-day SEC Yield | 1.39% |
MARKET CAPITALIZATION
As of 9/30/2025
|
Small Cap ($1.5B-$4.5B)
|
4.54% | |
|
Mid Cap ($4.5B-$30B)
|
11.39% | |
|
Large Cap (>$30B)
|
82.99% |
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 09/30/2025
| Holding | Ticker/Maturity Date | Sector | % of Net Assets |
|---|---|---|---|
| Meta Platforms Inc | META | Communication Services | 5.40% |
| Microsoft Corp | MSFT | Information Technology | 5.35% |
| Apple Inc | AAPL | Information Technology | 4.38% |
| Alphabet Inc | GOOG | Communication Services | 3.45% |
| Royal Caribbean Cruises Ltd | RCL | Consumer Discretionary | 3.07% |
| Viper Energy Inc | VNOM | Energy | 2.64% |
| JPMORGAN CHASE & CO. | JPM | Financials | 2.44% |
| Visa Inc | V | Financials | 2.44% |
| Vistra Corp | VST | Utilities | 2.09% |
| Arthur J Gallagher & Co | AJG | Financials | 1.98% |
| TOP 10 HOLDINGS TOTAL | 33.25% | ||
| S&P Global Inc | SPGI | Financials | 1.92% |
| HCA Healthcare Inc | HCA | Health Care | 1.91% |
| Bank of America Corp | BAC | Financials | 1.80% |
| CRH PLC | CRH | Materials | 1.70% |
| Parker-Hannifin Corp | PH | Industrials | 1.66% |
| Energy Transfer LP | ET | Energy | 1.54% |
| Mastercard Inc | MA | Financials | 1.38% |
| Citigroup Inc | C | Financials | 1.37% |
| Amazon.com Inc | AMZN | Consumer Discretionary | 1.34% |
| Eli Lilly & Co | LLY | Health Care | 1.33% |
| SS&C Technologies Holdings Inc | SSNC | Industrials | 1.31% |
| Marathon Petroleum Corp | MPC | Energy | 1.29% |
| Cintas Corp | CTAS | Industrials | 1.27% |
| International Business Machines Corp | IBM | Information Technology | 1.20% |
| Citizens Financial Group Inc | CFG | Financials | 1.20% |
| Burford Capital Ltd | BUR | Financials | 1.20% |
| Boeing Co/The | BA | Industrials | 1.13% |
| Primo Brands Corp | PRMB | Consumer Staples | 1.08% |
| UnitedHealth Group Inc | UNH | Health Care | 1.07% |
| McKesson Corp | MCK | Health Care | 1.07% |
| Intercontinental Exchange Inc | ICE | Financials | 1.03% |
| PG&E Corp | PCG | Utilities | 1.02% |
| American Electric Power Co Inc | AEP | Utilities | 0.98% |
| Home Depot Inc/The | HD | Consumer Discretionary | 0.95% |
| Edison International | EIX | Utilities | 0.93% |
| Northern Oil & Gas Inc | NOG | Energy | 0.87% |
| Chevron Corp | CVX | Energy | 0.87% |
| QUALCOMM Inc | QCOM | Information Technology | 0.84% |
| Enterprise Products Partners LP | EPD | Energy | 0.81% |
| Public Storage | PSA | Real Estate | 0.80% |
| Welltower Inc | WELL | Real Estate | 0.78% |
| Valero Energy Corp | VLO | Energy | 0.74% |
| Abbott Laboratories | ABT | Health Care | 0.74% |
| Crescent Energy Co | CRGY | Energy | 0.74% |
| NVIDIA Corp | NVDA | Information Technology | 0.73% |
| Johnson & Johnson | JNJ | Health Care | 0.73% |
| TRUIST FINANCIAL CORP | TFC | Financials | 0.72% |
| Blackrock Inc | BLK | Financials | 0.71% |
| Lumentum Holdings Inc | 12/15/2026 | Information Technology | 0.70% |
| Lamar Advertising Co | LAMR | Real Estate | 0.68% |
| Cisco Systems Inc | CSCO | Information Technology | 0.67% |
| Sempra | SRE | Utilities | 0.61% |
| ELEVANCE HEALTH INC | ELV | Health Care | 0.60% |
| CME Group Inc | CME | Financials | 0.60% |
| Lamb Weston Holdings Inc | LW | Consumer Staples | 0.59% |
| Walmart Inc | WMT | Consumer Staples | 0.59% |
| Pebblebrook Hotel Trust | PEB | Real Estate | 0.57% |
| Fastenal Co | FAST | Industrials | 0.56% |
| Martin Marietta Materials Inc | MLM | Materials | 0.52% |
| NET Lease Office Properties | NLOP | Real Estate | 0.52% |
| Realty Income Corp | O | Real Estate | 0.50% |
| Macerich Co/The | MAC | Real Estate | 0.50% |
| NETSTREIT Corp | NTST | Real Estate | 0.50% |
| Procter & Gamble Co/The | PG | Consumer Staples | 0.49% |
| Walt Disney Co/The | DIS | Communication Services | 0.48% |
| Digital Realty Trust Inc | DLR | Real Estate | 0.48% |
| Postal Realty Trust Inc | PSTL | Real Estate | 0.48% |
| Equinix Inc | EQIX | Real Estate | 0.48% |
| Graphic Packaging Holding Co | GPK | Materials | 0.47% |
| MARVELL TECHNOLOGY INC | MRVL | Information Technology | 0.47% |
| Merck & Co Inc | MRK | Health Care | 0.46% |
| Equifax Inc | EFX | Industrials | 0.45% |
| Starbucks Corp | SBUX | Consumer Discretionary | 0.44% |
| Exact Sciences Corp | 03/15/2027 | Health Care | 0.44% |
| PepsiCo Inc | PEP | Consumer Staples | 0.43% |
| PTC Therapeutics Inc | 09/15/2026 | Health Care | 0.43% |
| Honeywell International Inc | HON | Industrials | 0.40% |
| Otis Worldwide Corp | OTIS | Industrials | 0.40% |
| Comcast Corp | CMCSA | Communication Services | 0.39% |
| Medtronic PLC | MDT | Health Care | 0.39% |
| Tyson Foods Inc | TSN | Consumer Staples | 0.36% |
| AMERICAN TOWER CORP | AMT | Real Estate | 0.34% |
| Texas Instruments Inc | TXN | Information Technology | 0.30% |
| BioMarin Pharmaceutical Inc | 05/15/2027 | Health Care | 0.26% |
| AMETEK Inc | AME | Industrials | 0.26% |
| Verizon Communications Inc | VZ | Communication Services | 0.26% |
| Kenvue Inc | KVUE | Consumer Staples | 0.24% |
| Array Technologies Inc | 12/01/2028 | Industrials | 0.24% |
| Apellis Pharmaceuticals Inc | 09/15/2026 | Health Care | 0.17% |
| Total Cash or Equivalent | - | 0.02% |
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 $ | |
|---|---|---|---|---|---|---|---|---|
| GROWTH & INCOME | BUFDX | 12/17/2025 | - | - | - | - | - | - |
| GROWTH & INCOME | BUIDX | 12/17/2025 | - | - | - | - | - | - |
| GROWTH & INCOME | BUFDX | 12/04/2025 | 12/05/2025 | 34.76 | - | - | 0.08374 | 0.08374 |
| GROWTH & INCOME | BUIDX | 12/04/2025 | 12/05/2025 | 34.79 | - | - | 0.08374 | 0.08374 |
| GROWTH & INCOME | BUFDX | 09/17/2025 | 09/18/2025 | 34.38 | 0.09475612 | - | - | 0.09475612 |
| GROWTH & INCOME | BUIDX | 09/17/2025 | 09/18/2025 | 34.39 | 0.10716102 | - | - | 0.10716102 |
| GROWTH & INCOME | BUFDX | 06/17/2025 | 06/18/2025 | 32.09 | 0.08068423 | - | - | 0.08068423 |
| GROWTH & INCOME | BUIDX | 06/17/2025 | 06/18/2025 | 32.11 | 0.09026958 | - | - | 0.09026958 |
| GROWTH & INCOME | BUFDX | 03/17/2025 | 03/18/2025 | 31.40 | 0.16777325 | - | - | 0.16777325 |
| GROWTH & INCOME | BUIDX | 03/17/2025 | 03/18/2025 | 31.41 | 0.1722548 | - | - | 0.1722548 |
| GROWTH & INCOME | BUFDX | 12/17/2024 | 12/18/2024 | 32.31 | 0.01039457 | - | - | 0.01039457 |
| GROWTH & INCOME | BUIDX | 12/17/2024 | 12/18/2024 | 32.32 | 0.02285468 | - | - | 0.02285468 |
| GROWTH & INCOME | BUFDX | 12/04/2024 | - | - | - | - | - | - |
| GROWTH & INCOME | BUIDX | 12/04/2024 | - | - | - | - | - | - |
| GROWTH & INCOME | BUFDX | 09/17/2024 | 09/18/2024 | 31.28 | 0.08147743 | - | - | 0.08147743 |
| GROWTH & INCOME | BUIDX | 09/17/2024 | 09/18/2024 | 31.29 | 0.09380152 | - | - | 0.09380152 |
| GROWTH & INCOME | BUFDX | 06/17/2024 | 06/18/2024 | 29.69 | 0.26054635 | - | - | 0.26054635 |
| GROWTH & INCOME | BUIDX | 06/17/2024 | 06/18/2024 | 29.70 | 0.27020187 | - | - | 0.27020187 |
| GROWTH & INCOME | BUFDX | 03/18/2024 | 03/19/2024 | 29.50 | 0.05519288 | - | - | 0.05519288 |
| GROWTH & INCOME | BUIDX | 03/18/2024 | 03/19/2024 | 29.51 | 0.06513191 | - | - | 0.06513191 |
| TICKER | RECORD DATE | EX DATE | TYPE | |
|---|---|---|---|---|
| GROWTH & INCOME | BUFDX | 12/17/2026 | 12/18/2026 | NII |
| GROWTH & INCOME | BUIDX | 12/17/2026 | 12/18/2026 | NII |
| GROWTH & INCOME | BUFDX | 12/4/2026 | 12/7/2026 | Cap Gains |
| GROWTH & INCOME | BUIDX | 12/4/2026 | 12/7/2026 | Cap Gains |
| GROWTH & INCOME | BUFDX | 9/17/2026 | 9/18/2026 | NII |
| GROWTH & INCOME | BUIDX | 9/17/2026 | 9/18/2026 | NII |
| GROWTH & INCOME | BUFDX | 6/17/2026 | 6/18/2026 | NII |
| GROWTH & INCOME | BUIDX | 6/17/2026 | 6/18/2026 | NII |
| GROWTH & INCOME | BUFDX | 3/17/2026 | 3/18/2026 | NII |
| GROWTH & INCOME | BUIDX | 3/17/2026 | 3/18/2026 | NII |
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
