Mid Cap Discovery Fund – Full Holdings

Full Portfolio Holdings as of 6/30/24

Name of Holding	Ticker	% of Net Assets
MSCI Inc	MSCI	3.07
IQVIA Holdings Inc	IQV	2.62
TransUnion	TRU	2.38
AMETEK Inc	AME	2.19
CoStar Group Inc	CSGP	2.01
Aptiv PLC	APTV	1.96
Verisk Analytics Inc	VRSK	1.85
Copart Inc	CPRT	1.76
Veeva Systems Inc	VEEV	1.75
Pinterest Inc	PINS	1.66
Bio-Techne Corp	TECH	1.60
Schlumberger NV	SLB	1.58
Tyler Technologies Inc	TYL	1.58
Ferguson PLC	FERG	1.54
Calix Inc	CALX	1.49
Boston Scientific Corp	BSX	1.49
Martin Marietta Materials Inc	MLM	1.46
Trade Desk Inc/The	TTD	1.43
Dexcom Inc	DXCM	1.43
Xylem Inc/NY	XYL	1.42
Intercontinental Exchange Inc	ICE	1.35
Autodesk Inc	ADSK	1.32
Gartner Inc	IT	1.32
DoubleVerify Holdings Inc	DV	1.30
Alcon Inc	ALC	1.29
Lululemon Athletica Inc	LULU	1.27
Shift4 Payments Inc	FOUR	1.26
Universal Display Corp	OLED	1.25
Insulet Corp	PODD	1.23
Live Nation Entertainment Inc	LYV	1.22
Okta Inc	OKTA	1.22
IDEXX Laboratories Inc	IDXX	1.21
Vertiv Holdings Co	VRT	1.20
Amphenol Corp	APH	1.20
Ecolab Inc	ECL	1.20
Synopsys Inc	SNPS	1.18
Monolithic Power Systems Inc	MPWR	1.18
CyberArk Software Ltd	CYBR	1.17
Natera Inc	NTRA	1.17
S&P Global Inc	SPGI	1.16
Rockwell Automation Inc	ROK	1.16
Global Payments Inc	GPN	1.15
Agilent Technologies Inc	A	1.14
Progyny Inc	PGNY	1.11
Ingersoll Rand Inc	IR	1.10
Guidewire Software Inc	GWRE	1.09
ICON PLC	ICLR	1.09
Workday Inc	WDAY	1.08
Trex Co Inc	TREX	1.06
KBR Inc	KBR	1.06
Ciena Corp	CIEN	1.04
Corpay Inc	CPAY	1.04
Halozyme Therapeutics Inc	HALO	1.01
Air Products and Chemicals Inc	APD	1.00
MarketAxess Holdings Inc	MKTX	0.99
Crowdstrike Holdings Inc	CRWD	0.99
Procore Technologies Inc	PCOR	0.96
Teradata Corp	TDC	0.95
West Pharmaceutical Services I	WST	0.94
HEICO Corp	HEI/A	0.93
Keysight Technologies Inc	KEYS	0.92
Aspen Technology Inc	AZPN	0.92
Varonis Systems Inc	VRNS	0.91
Edwards Lifesciences Corp	EW	0.88
Equifax Inc	EFX	0.84
ANSYS Inc	ANSS	0.84
Five Below Inc	FIVE	0.82
McKesson Corp	MCK	0.79
Chewy Inc	CHWY	0.76
Bio-Rad Laboratories Inc	BIO	0.75
Spotify Technology SA	SPOT	0.73
GoDaddy Inc	GDDY	0.73
Fastenal Co	FAST	0.72
Builders FirstSource Inc	BLDR	0.68
FactSet Research Systems Inc	FDS	0.62
Arista Networks Inc	ANET	0.57
HubSpot Inc	HUBS	0.52
Expedia Group Inc	EXPE	0.48
On Holding AG	ONON	0.46
Estee Lauder Cos Inc/The	EL	0.43
Illumina Inc	ILMN	0.43
Allegro MicroSystems Inc	ALGM	0.29
TOTAL CASH OR EQUIVALENT		3.16

Buffalo publishes this listing of securities held as of the most recent calendar-quarter end, with a 60-day lag. Buffalo may exclude any portion of holdings from publication when deemed in the best interest of the portfolio.

Holdings are subject to change without notice and are not recommendations to buy or sell any securities.

The portfolio data and its presentation here may differ from the complete schedules of investments in regulatory filings due to differing accounting and reporting requirements.

Percentages may not equal 100% due to rounding.

You are leaving the Buffalo Funds website and entering a third-party website. The Fund is not responsible for, nor can guarantee the accuracy of, any information contained on a third-party website.

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As of 4/30/21	1 YR	3 YR	5 YR	10 YR	Since Inception (4/14/98)	2019	2020
BUFFALO SMALL CAP FUND - Investor	96.02	33.69	28.90	16.36	14.25	40.97	66.36
BUFFALO SMALL CAP FUND - Institutional	96.42	33.89	29.09	16.54	14.42	41.17	66.60
Morningstar U.S. Small Growth Index	63.25	19.90	19.79	13.35	7.71	27.60	43.52

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. Fund performance may be subject to substantial short-term changes. Current performance may be lower or higher than the performance quoted. Standardized performance can be obtained here.

You are leaving the Buffalo Funds website and entering a third-party website. The Fund is not responsible for, nor can guarantee the accuracy of, any information contained on a third-party website.

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Annualized Performance (%)

As of 11/30/24	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	Since Inception
BUFFALO INTERNATIONAL FUND - Investor	-6.91	1.89	7.06	-0.75	6.50	7.14	5.35
BUFFALO INTERNATIONAL FUND - Institutional	-6.86	2.03	7.23	-0.61	6.66	7.30	5.51
FTSE All World Ex-US Index	-2.90	8.17	13.66	3.58	6.15	5.32	3.28
Lipper International Fund Index	-3.44	8.72	14.29	3.23	6.62	5.52	3.37

Expense ratio 1.05%. Average annual total return represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate and redemption value may be more or less than original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted. Click here for month-end performance.

References to other mutual funds should not to be considered an offer to buy or sell these securities.

The Russell Global ex-US Index is an unmanaged index that measures the performance of the global equity market based on all investable equity securities, excluding companies assigned to the United States. The Lipper International Fund Index measures the performance of the 30 largest mutual funds in the international equity fund objective, as determined by Lipper, Inc. The Morningstar category average represents a universe of funds with similar objectives. The MSCI World Index is a broad global equity benchmark that represents large and mid-cap equity performance across 23 developed markets countries. It is not possible to invest directly in an index. Return on equity (ROE) is the amount of net income returned as a percentage of shareholders equity, and typically measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested. 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.

As of 12/31/19	1 YR	3 YR	5 YR	10 YR
Buffalo International Fund	28.02	14.70	9.17	7.77
Morningstar Global Markets ex-US Index	21.57	9.94		5.59
Buffalo High Yield Fund	12.32	5.18	4.78	6.11
ICE BofAML U.S. High Yield Index	14.41	6.32		7.50

As of 12/31/17	1 YR	3 YR	5 YR	10 YR
Buffalo Discovery Fund	25.44	11.84	16.16	11.46
S&P 500 Index	21.83	11.41	15.79	8.50

Mid Cap Discovery Fund – Full Holdings

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