International Fund
BUFIX | BUIIX
UNLOCKING POTENTIAL ACROSS THE GLOBE
“Our international investment strategy distinguishes itself by emphasizing high-quality companies rather than adhering to country or sector benchmarks.
We focus on businesses with clear exposure to long-term secular growth trends, strong operating models, and compelling risk/reward and valuation characteristics—positions we can confidently hold over the long term.”
— Nicole Kornitzer, CFA. Portfolio Manager
Objective
Long-term growth of capital
Morningstar CategoryForeign Large Cap Growth
Benchmark IndexFTSE All World Ex-US Index
Dividend DistributionAnnual
Overall Morningstar Rating™
BUFIX based on risk-adjusted
returns as of 2/28/2026 among 360 Foreign Large Growth funds
| Ticker | BUFIX Investor | BUIIX Institutional |
|---|---|---|
| Inception | 9/28/2007 | 7/1/2019 |
| Expense Ratio | 1.04% | 0.89% |
| Net Assets | $223.58 mil | $625.90 mil |
| Cusip | 119530509 | 119530848 |
| *as of 3/9/2026 | ||
Daily Prices as of 3/9/2026
| Ticker |
BUFIX Investor |
BUIIX Institutional |
|---|---|---|
| NAV | $24.40 | $24.41 |
| $Chg | $0.19 | $0.19 |
| %Chg | 0.78% | 0.78% |
| YTD % | 2.09% | 2.13% |
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 02/28/2026 | TICKER | MO | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| INTERNATIONAL | ||||||||||
| Investor Shares | BUFIX | 3.86 | 9.12 | 18.28 | 11.29 | 6.40 | 10.52 | 7.73 | - | 6.17 |
| Institutional Shares | BUIIX | 3.90 | 9.16 | 18.48 | 11.46 | 6.57 | 10.69 | 7.89 | - | 6.33 |
| FTSE All-World ex US Index Index | - | 5.14 | 11.47 | 40.70 | 20.53 | 10.43 | 11.12 | 7.06 | - | 5.16 |
| Lipper International Muti-Cap Growth Index | - | 2.69 | 7.50 | 25.02 | 15.17 | 5.83 | 8.65 | 5.90 | - | 4.22 |
*Since inception.
| Investor Inception | Investor Expense Ratio | Institutional Inception | Institutional Expense Ratio | |
|---|---|---|---|---|
| INTERNATIONAL | 9/28/2007 | 1.04% | 7/1/2019 | 0.89% |
QUARTER-END PERFORMANCE
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 12/31/2025 | TICKER | QTR | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| INTERNATIONAL | ||||||||||
| Investor Shares | BUFIX | 0.91 | 17.08 | 17.08 | 10.78 | 4.68 | 8.83 | 7.06 | - | 5.72 |
| Institutional Shares | BUIIX | 0.91 | 17.28 | 17.28 | 10.93 | 4.84 | 8.99 | 7.22 | - | 5.88 |
| FTSE All-World ex US Index Index | - | 5.11 | 32.59 | 32.59 | 17.81 | 8.54 | 9.01 | 6.54 | - | 4.58 |
| Lipper International Muti-Cap Growth Index | - | 1.92 | 23.36 | 23.36 | 14.45 | 4.51 | 7.07 | 5.59 | - | 3.84 |
*Since inception.
CALENDAR YEAR %
| TICKER | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTERNATIONAL | |||||||||||
| Investor Shares | BUFIX | 3.19 | 29.33 | -8.85 | 28.02 | 19.10 | 18.21 | -21.79 | 18.33 | -1.88 | 17.08 |
| Institutional Shares | BUIIX | 3.34 | 29.53 | -8.71 | 28.20 | 19.24 | 18.42 | -21.65 | 18.47 | -1.75 | 17.28 |
| FTSE All-World ex US Index | - | 5.12 | 27.47 | -13.87 | 22.20 | 11.52 | 8.66 | -15.22 | 16.20 | 6.13 | 32.59 |
| Lipper International Muti-Cap Growth Index | - | -1.34 | 1.70 | 26.70 | -14.94 | 23.41 | 12.70 | 11.32 | -17.14 | 17.53 | 5.43 |
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 2/28/2026 | TICKER | CATEGORY | OVERALL | 3YR | 5YR | 10YR |
|---|---|---|---|---|---|---|
| INTERNATIONAL | BUFIX | Foreign Large Growth |
_
|
74% of 360 funds
|
41% of 331 funds
|
25% of 219 funds
|
Ratings & Rankings may vary for other share classes.
PORTFOLIO CHARACTERISTICS
3-YEAR RISK METRICS
As of 9/30/2025
| BUFIX vs. FTSE All World ex-US Index | |
|---|---|
| Upside Capture | 100.29 |
| Downside Capture | 136.11 |
| Alpha | -6.08 |
| Beta | 1.11 |
| Sharpe Ratio | 0.70 |
CHARACTERISTICS
As of 9/30/2025
| Portfolio | Value |
|---|---|
| Number of Holdings | 71 |
| Median Market Cap (B) | $ 57.91 |
| Weighted Average Market Cap (B) | $ 104.26 |
| 3-Year Annualized Turnover Ratio | 6.50% |
| Active Share | 90.63% |
MARKET CAPITALIZATION
As of 9/30/2025
|
|
Mid Cap ($4.5B-$30B) | 27.36% |
|
|
Large Cap (>$30B)
|
72.64% |
May not equal 100% due to rounding.
MARKET CLASSIFICATION
As of 9/30/2025
|
|
Emerging Markets
|
5.40% |
|
|
Developed Markets
|
94.60% |
Market Classification percentages may not equal 100% due to rounding.
Countries
As of 9/30/2025
| Top 10 Countries | % of Net Assets |
|---|---|
| France | 15.71 |
| United Kingdom | 14.21 |
| Japan | 12.53 |
| Germany | 11.10 |
| Switzerland | 10.18 |
| Ireland | 9.41 |
| Netherlands | 6.26 |
| Canada | 5.31 |
| Denmark | 2.63 |
| Brazil | 2.45 |
| TOP 10 TOTAL | 89.79% |
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 |
|---|---|---|---|
| SK hynix Inc | 000660 KS | Information Technology | 4.28% |
| Taiwan Semiconductor Manufacturing Co Ltd | TSM | Information Technology | 3.70% |
| Schneider Electric SE | SU FP | Industrials | 2.89% |
| Siemens AG | SIE GR | Industrials | 2.58% |
| Lonza Group AG | LONN SW | Health Care | 2.52% |
| MercadoLibre Inc | MELI | Consumer Discretionary | 2.48% |
| BayCurrent Inc | 6532 JP | Industrials | 2.46% |
| AstraZeneca PLC | AZN | Health Care | 2.39% |
| ASML Holding NV | ASML | Information Technology | 2.36% |
| Fresenius SE & Co KGaA | FRE GR | Health Care | 2.10% |
| TOP 10 HOLDINGS TOTAL | 27.77% | ||
| SAP SE | SAP | Information Technology | 2.07% |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | MUV2 GY | Financials | 2.05% |
| Samsung Electronics Co Ltd | 005930 KS | Information Technology | 2.05% |
| Nintendo Co Ltd | NTDOY | Communication Services | 1.98% |
| Bureau Veritas SA | BVI FP | Industrials | 1.96% |
| CRH PLC | CRH | Materials | 1.82% |
| Ryanair Holdings PLC | RYAAY | Industrials | 1.81% |
| Aon PLC | AON | Financials | 1.79% |
| Adyen NV | ADYEN NA | Financials | 1.79% |
| AIR LIQUIDE SA | AI FP | Materials | 1.75% |
| GFL Environmental Inc | GFL | Industrials | 1.71% |
| Linde PLC | LIN | Materials | 1.67% |
| ABB Ltd | ABBNY | Industrials | 1.67% |
| Disco Corp | 6146 JP | Information Technology | 1.64% |
| London Stock Exchange Group PLC | LSEG LN | Financials | 1.57% |
| Renesas Electronics Corp | 6723 JP | Information Technology | 1.56% |
| Alcon AG | ALC SW | Health Care | 1.55% |
| Holcim AG | HOLN SW | Materials | 1.50% |
| Unilever PLC | UL | Consumer Staples | 1.49% |
| BAE Systems PLC | BA/ LN | Industrials | 1.44% |
| ASM International NV | ASM NA | Information Technology | 1.38% |
| Thales SA | HO FP | Industrials | 1.29% |
| InterContinental Hotels Group PLC | IHG LN | Consumer Discretionary | 1.26% |
| Ashtead Group PLC | AHT LN | Industrials | 1.22% |
| Smith & Nephew PLC | SN/ LN | Health Care | 1.21% |
| Compass Group PLC | CPG LN | Consumer Discretionary | 1.21% |
| Rheinmetall AG | RHM GR | Industrials | 1.19% |
| Sanofi SA | SAN FP | Health Care | 1.19% |
| Vinci SA | DG FP | Industrials | 1.12% |
| Keyence Corp | 6861 JP | Information Technology | 1.08% |
| DWS Group GmbH & Co KGaA | DWS GR | Financials | 1.06% |
| Novo Nordisk A/S | NVO | Health Care | 1.05% |
| Experian PLC | EXPN LN | Industrials | 1.03% |
| Sartorius Stedim Biotech | DIM FP | Health Care | 1.03% |
| Kerry Group PLC | KYGA ID | Consumer Staples | 1.00% |
| AIRBUS GROUP SE | AIR FP | Industrials | 1.00% |
| Roche Holding AG | ROG SW | Health Care | 0.99% |
| Eurofins Scientific SE | ERF FP | 0.94% | |
| Merck KGaA | MRK GR | Health Care | 0.87% |
| Topicus.com Inc | TOI CN | Information Technology | 0.84% |
| Julius Baer Group Ltd | BAER SW | Financials | 0.83% |
| Canadian National Railway Co | CNI | Industrials | 0.83% |
| RELX PLC | RELX | Industrials | 0.83% |
| Publicis Groupe SA | PUB FP | Communication Services | 0.83% |
| Constellation Software Inc/Canada | CSU CN | Information Technology | 0.77% |
| MakeMyTrip Ltd | MMYT | Consumer Discretionary | 0.75% |
| ANHEUSER-BUSCH INBEV SA/NV | ABI BB | Consumer Staples | 0.74% |
| Tencent Holdings Ltd | TCEHY | Communication Services | 0.74% |
| Hong Kong Exchanges & Clearing Ltd | 388 HK | Financials | 0.71% |
| China Merchants Bank Co Ltd | 3968 HK | Financials | 0.70% |
| Siemens Energy AG | ENR GR | Industrials | 0.64% |
| Smiths Group PLC | SMIN LN | Industrials | 0.61% |
| Amrize Ltd | AMRZ SW | Materials | 0.59% |
| HDFC BANK LTD - ADR | HDB | Financials | 0.58% |
| Japan Exchange Group Inc | 8697 JP | Financials | 0.55% |
| Shell PLC | SHELL NA | Energy | 0.54% |
| E.ON SE | EOAN GR | Utilities | 0.54% |
| Hannover Rueck SE | HNR1 GR | Financials | 0.53% |
| Wise PLC | WISE LN | Financials | 0.49% |
| Resona Holdings Inc | 8308 JP | Financials | 0.49% |
| IMCD NV | IMCD NA | Industrials | 0.46% |
| Asahi Group Holdings Ltd | 2502 JP | Consumer Staples | 0.45% |
| EURO | EUR | 0.19% | |
| BRITISH POUNDS | GBP | 0.02% | |
| SOUTH KOREA WON | KRW | 0.00% | |
| 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 $ | |
|---|---|---|---|---|---|---|---|---|
| INTERNATIONAL | BUFIX | 12/17/2025 | 12/18/2025 | 23.47 | 0.13182267 | - | - | 0.13182267 |
| INTERNATIONAL | BUIIX | 12/17/2025 | 12/18/2025 | 23.46 | 0.17181504 | - | - | 0.17181504 |
| INTERNATIONAL | BUFIX | 12/04/2025 | 12/05/2025 | 23.53 | - | - | 0.07155 | 0.07155 |
| INTERNATIONAL | BUIIX | 12/04/2025 | 12/05/2025 | 23.57 | - | - | 0.07155 | 0.07155 |
| INTERNATIONAL | BUFIX | 12/17/2024 | 12/18/2024 | 20.71 | 0.17395594 | - | - | 0.17395594 |
| INTERNATIONAL | BUIIX | 12/17/2024 | 12/18/2024 | 20.72 | 0.21155556 | - | - | 0.21155556 |
| INTERNATIONAL | BUFIX | 12/04/2024 | - | - | - | - | - | - |
| INTERNATIONAL | BUIIX | 12/04/2024 | - | - | - | - | - | - |
| TICKER | RECORD DATE | EX DATE | TYPE | |
|---|---|---|---|---|
| INTERNATIONAL | BUFIX | 12/17/2026 | 12/18/2026 | NII |
| INTERNATIONAL | BUIIX | 12/17/2026 | 12/18/2026 | NII |
| INTERNATIONAL | BUFIX | 12/4/2026 | 12/7/2026 | Cap Gains |
| INTERNATIONAL | BUIIX | 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
