Mid Cap Growth Fund
BUFMX | BUIMX
SEEKING VALUE THROUGH MID CAP MARKET INEFFICIENCIES
“The mid-cap spectrum of the market includes many companies with proven business models that still have substantial room to grow.
We believe our focus on growing businesses with strong balance sheets, scalable business models, wide competitive moats, and reasonable valuations should compound value over time.”
Objective
Long-term growth of capital
Morningstar CategoryMid Cap Growth
Benchmark IndexRussell Midcap® Growth Index
Dividend DistributionAnnual
Overall Morningstar Rating™
BUFMX based on risk-adjusted
returns as of 3/31/2026 among 469 US Fund Mid-Cap Growth funds
| Ticker | BUFMX Investor | BUIMX Institutional |
|---|---|---|
| Inception | 12/17/2001 | 7/1/2019 |
| Expense Ratio | 1.01% | 0.88% |
| Net Assets | $51.22 mil | $62.38 mil |
| Cusip | 119530202 | 119530822 |
| *as of 6/1/2026 | ||
Daily Prices as of 6/1/2026
| Ticker |
BUFMX Investor |
BUIMX Institutional |
|---|---|---|
| NAV | $14.30 | $14.48 |
| $Chg | $0.22 | $0.22 |
| %Chg | 1.56% | 1.54% |
| YTD % | -1.72% | -1.63% |
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 05/31/2026 | TICKER | MO | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| MID CAP GROWTH | ||||||||||
| Investor Shares | BUFMX | 1.44 | -3.23 | -5.30 | 5.69 | -0.24 | 8.21 | 7.67 | 7.39 | 7.78 |
| Institutional Shares | BUIMX | 1.49 | -3.12 | -5.12 | 5.82 | -0.11 | 8.36 | 7.82 | 7.55 | 7.94 |
| Russell Midcap® Growth Index | - | 4.75 | 4.45 | 7.88 | 17.46 | 6.86 | 12.74 | 11.70 | 10.38 | 9.92 |
| Lipper Mid Cap Growth Funds Index | - | 3.38 | 4.85 | 10.22 | 11.17 | 1.86 | 10.18 | 9.40 | 8.84 | 8.29 |
*Since inception.
| Investor Inception | Investor Expense Ratio | Institutional Inception | Institutional Expense Ratio | |
|---|---|---|---|---|
| MID CAP GROWTH | 12/17/2001 | 1.01% | 7/1/2019 | 0.88% |
QUARTER-END PERFORMANCE
| TOTAL RETURNS % | AVERAGE ANNUALIZED TOTAL RETURNS % | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As of 03/31/2026 | TICKER | QTR | YTD | 1YR | 3YR | 5YR | 10YR | 15YR | 20YR | SI* |
| MID CAP GROWTH | ||||||||||
| Investor Shares | BUFMX | -9.21 | -9.21 | -6.59 | 3.63 | -0.86 | 7.75 | 7.51 | 6.74 | 7.55 |
| Institutional Shares | BUIMX | -9.17 | -9.17 | -6.52 | 3.74 | -0.73 | 7.90 | 7.66 | 6.90 | 7.71 |
| Russell Midcap® Growth Index | - | -6.35 | -6.35 | 9.56 | 12.74 | 5.37 | 11.69 | 11.12 | 9.54 | 9.50 |
| Lipper Mid Cap Growth Funds Index | - | -5.26 | -5.26 | 6.89 | 6.79 | 0.30 | 9.43 | 8.77 | 8.03 | 7.90 |
*Since inception.
CALENDAR YEAR %
| TICKER | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MID CAP GROWTH | |||||||||||
| Investor Shares | BUFMX | 5.93 | 13.66 | -7.30 | 37.98 | 34.18 | 14.61 | -27.80 | 26.97 | 6.79 | -1.66 |
| Institutional Shares | BUIMX | 6.08 | 13.82 | -7.16 | 38.16 | 34.42 | 14.73 | -27.69 | 27.18 | 6.86 | -1.52 |
| Russell Midcap® Growth Index | - | 7.33 | 25.27 | -4.75 | 35.47 | 35.59 | 12.73 | -26.72 | 25.87 | 22.10 | 8.66 |
| Lipper Mid Cap Growth Funds Index | - | -0.96 | 6.27 | 25.90 | -3.53 | 33.83 | 35.98 | 12.22 | -29.79 | 20.33 | 10.73 |
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 |
|---|---|---|---|---|---|---|
| MID CAP GROWTH | BUFMX | US Fund Mid-Cap Growth |
_
|
86% of 469 funds
|
80% of 448 funds
|
90% of 374 funds
|
Ratings & Rankings may vary for other share classes.
PORTFOLIO CHARACTERISTICS
3-YEAR RISK METRICS
As of 3/31/2026
| BUFMX vs. Russell Midcap® Growth Index | YTD |
|---|---|
| Upside Capture | 68.69 |
| Downside Capture | 106.85 |
| Alpha | -6.48 |
| Beta | 0.85 |
| Sharpe Ratio | -0.08 |
CHARACTERISTICS
As of 3/31/2026
| Portfolio | Value |
|---|---|
| Number of Holdings | 53 |
| Median Market Cap (B) | $ 22.65 |
| Weighted Average Market Cap (B) | $ 29.59 |
| 3-Year Annualized Turnover Ratio | 17.61% |
| Holdings with Free Cash Flow | 92.00% |
| Active Share | 88.18% |
MARKET CAPITALIZATION
As of 3/31/2026
|
Small Cap ($1.5B-$4.5B)
|
6.54% | |
|
Mid Cap ($4.5B-$30B)
|
49.10% | |
|
Large Cap (>$30B)
|
43.20% |
May not equal 100% due to rounding.
SECTOR WEIGHTS
As of 3/31/2026
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 03/31/2026
| Holding | Ticker | Sector | % of Net Assets |
|---|---|---|---|
| MSCI Inc | MSCI | Financials | 4.20% |
| Vertiv Holdings Co | VRT | Industrials | 3.90% |
| Equifax Inc | EFX | Industrials | 3.47% |
| CBRE Group Inc | CBRE | Real Estate | 3.35% |
| Hilton Worldwide Holdings Inc | HLT | Consumer Discretionary | 3.20% |
| Verisk Analytics Inc | VRSK | Industrials | 3.15% |
| Procore Technologies Inc | PCOR | Information Technology | 2.87% |
| Veeva Systems Inc | VEEV | Health Care | 2.71% |
| Tyler Technologies Inc | TYL | Information Technology | 2.67% |
| Copart Inc | CPRT | Industrials | 2.56% |
| TOP 10 HOLDINGS TOTAL | 32.08% | ||
| Cardinal Health Inc | CAH | Health Care | 2.52% |
| Live Nation Entertainment Inc | LYV | Communication Services | 2.52% |
| Kinsale Capital Group Inc | KNSL | Financials | 2.47% |
| ON Semiconductor Corp | ON | Information Technology | 2.46% |
| AMETEK Inc | AME | Industrials | 2.42% |
| Comfort Systems USA Inc | FIX | Industrials | 2.40% |
| Liberty Media Corp-Liberty Formula One | FWONA | Communication Services | 2.18% |
| Vistra Corp | VST | Utilities | 2.14% |
| IQVIA Holdings Inc | IQV | Health Care | 2.03% |
| Bio-Rad Laboratories Inc | BIO | Health Care | 1.92% |
| Onto Innovation Inc | ONTO | Information Technology | 1.88% |
| California Water Service Group | CWT | Utilities | 1.77% |
| RB Global Inc | RBA | Industrials | 1.76% |
| Martin Marietta Materials Inc | MLM | Materials | 1.75% |
| Stevanato Group SpA | STVN | Health Care | 1.70% |
| James Hardie Industries PLC | JHX | Materials | 1.69% |
| Agilent Technologies Inc | A | Health Care | 1.67% |
| Bio-Techne Corp | TECH | Health Care | 1.67% |
| ENCOMPASS HEALTH CORP | EHC | Health Care | 1.60% |
| Guidewire Software Inc | GWRE | Information Technology | 1.54% |
| Vail Resorts Inc | MTN | Consumer Discretionary | 1.53% |
| Mettler-Toledo International Inc | MTD | Health Care | 1.50% |
| CoStar Group Inc | CSGP | Real Estate | 1.48% |
| STERIS PLC | STE | Health Care | 1.42% |
| Moody's Corp | MCO | Financials | 1.40% |
| Ferguson Enterprises Inc | FERG | Industrials | 1.35% |
| Badger Meter Inc | BMI | Information Technology | 1.33% |
| Birkenstock Holding Plc | BIRK | Consumer Discretionary | 1.31% |
| Fastenal Co | FAST | Industrials | 1.28% |
| NIKE Inc | NKE | Consumer Discretionary | 1.21% |
| Everpure Inc | PSTG | Information Technology | 1.19% |
| Carnival Corp | CCL | Consumer Discretionary | 1.19% |
| Graco Inc | GGG | Industrials | 1.16% |
| Tractor Supply Co | TSCO | Consumer Discretionary | 1.16% |
| Airbnb Inc | ABNB | Consumer Discretionary | 1.16% |
| Progyny Inc | PGNY | Health Care | 1.16% |
| Federal Signal Corp | FSS | Industrials | 1.09% |
| Take-Two Interactive Software Inc | TTWO | Communication Services | 1.09% |
| Alphatec Holdings Inc | ATEC | Health Care | 1.00% |
| TransDigm Group Inc | TDG | Industrials | 0.96% |
| Manhattan Associates Inc | MANH | Information Technology | 0.90% |
| Wingstop Inc | WING | Consumer Discretionary | 0.71% |
| Snowflake Inc | SNOW | Information Technology | 0.70% |
| Total Cash or Equivalent | - | 1.88% |
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 $ | |
|---|---|---|---|---|---|---|---|---|
| MID CAP GROWTH | BUFMX | 12/17/2025 | - | - | - | - | - | - |
| MID CAP GROWTH | BUIMX | 12/17/2025 | - | - | - | - | - | - |
| MID CAP GROWTH | BUFMX | 12/04/2025 | 12/05/2025 | 14.65 | - | - | 1.49986 | 1.49986 |
| MID CAP GROWTH | BUIMX | 12/04/2025 | 12/05/2025 | 14.82 | - | - | 1.49986 | 1.49986 |
| MID CAP GROWTH | BUFMX | 12/17/2024 | - | - | - | - | - | - |
| MID CAP GROWTH | BUIMX | 12/17/2024 | - | - | - | - | - | - |
| MID CAP GROWTH | BUFMX | 12/04/2024 | 12/05/2024 | 17.31 | - | 0.01717 | 1.11367 | 1.13084 |
| MID CAP GROWTH | BUIMX | 12/04/2024 | 12/05/2024 | 17.47 | - | 0.01717 | 1.11367 | 1.13084 |
| TICKER | RECORD DATE | EX DATE | TYPE | |
|---|---|---|---|---|
| MID CAP GROWTH | BUFMX | 12/17/2026 | 12/18/2026 | NII |
| MID CAP GROWTH | BUIMX | 12/17/2026 | 12/18/2026 | NII |
| MID CAP GROWTH | BUFMX | 12/4/2026 | 12/7/2026 | Cap Gains |
| MID CAP GROWTH | BUIMX | 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
