Our Funds

Performance & Pricing

As of 4/30/2022		Average Annual Total Returns (%)
FUND Ticker, Inception Date, Expense Ratio	YTD	1 YR	3 YR	5 YR	10 YR	SINCE INCEPTION
DOMESTIC EQUITY
DISCOVERY BUFTX - Investor, 4/16/01, 1.02% BUITX - Institutional, 7/1/19, 0.87%	-22.25 -22.21	-18.59 -18.49	7.22 7.38	10.23 10.40	11.78 11.95	9.22 9.38
EARLY STAGE GROWTH BUFOX - Investor, 5/21/04, 1.51% BUIOX - Institutional, 7/1/19, 1.37%	-21.70 -21.64	-24.39 -24.27	10.89 11.06	13.06 13.24	12.44 12.62	9.24 9.40
GROWTH BUFGX - Investor, 5/19/95, 0.93% BIIGX - Institutional, 7/1/19, 0.79%	-20.37 -20.31	-10.55 -10.41	10.57 10.74	12.92 13.09	12.35 12.52	10.38 10.55
LARGE CAP BUFEX - Investor, 5/19/95, 0.95% BUIEX - Institutional, 7/1/19, 0.81%	-19.66 -19.61	-7.92 -7.77	12.51 12.69	13.67 13.84	14.09 14.26	10.14 10.31
MID CAP BUFMX - Investor, 12/17/01, 1.03% BUIMX - Institutional, 7/1/19, 0.90%	-18.97 -18.89	-14.93 -14.78	10.58 10.75	11.12 11.29	10.22 10.39	8.67 8.83
SMALL CAP BUFSX - Investor, 4/14/98, 1.02% BUISX - Institutional, 7/1/19, 0.87%	-26.61 -26.55	-31.59 -31.49	11.83 12.00	13.58 13.75	11.91 12.07	11.84 12.00
INTERNATIONAL EQUITY
INTERNATIONAL BUFIX - Investor, 9/28/07, 1.05% BUIIX - Institutional, 7/1/19, 0.90%	-18.92 -18.86	-10.53 -10.35	7.85 8.01	8.53 8.69	8.11 8.27	5.24 5.39
EQUITY & INCOME / HIGH YIELD
DIVIDEND FOCUS BUFDX - Investor, 12/3/12, 0.96% BUIDX - Institutional, 7/1/19, 0.81%	-6.61 -6.57	1.78 1.94	13.18 13.35	11.84 12.00	- -	13.05 13.22
FLEXIBLE INCOME BUFBX - Investor, 8/12/94, 1.02% BUIBX - Institutional, 7/1/19, 0.87%	1.49 1.59	17.25 17.49	10.61 10.78	9.84 10.00	8.20 8.36	7.61 7.77
HIGH YIELD BUFHX - Investor, 5/19/95, 1.03% BUIHX - Institutional, 7/1/19, 0.89%	-4.08 -4.04	-1.79 -1.65	5.15 5.28	4.53 4.67	4.94 5.09	6.77 6.92

As of 4/30/2022		Average Annual Total Returns (%)
FUND Ticker, Inception Date, Expense Ratio	YTD	1 YR	3 YR	5 YR	10 YR	SINCE INCEPTION
DOMESTIC EQUITY
DISCOVERY BUFTX - Investor, 4/16/01, 1.02% BUITX - Institutional, 7/1/19, 0.87%	-22.25 -22.21	-18.59 -18.49	7.22 7.38	10.23 10.40	11.78 11.95	9.22 9.38
Russell Midcap Growth Index	-22.42	-16.73	8.72	12.06	12.17	9.09
EARLY STAGE GROWTH BUFOX - Investor, 5/21/04, 1.51% BUIOX - Institutional, 7/1/19, 1.37%	-21.70 -21.64	-24.39 -24.27	10.89 11.06	13.06 13.24	12.44 12.62	9.24 9.40
Russell 2000 Growth Index	-23.35	-26.44	4.14	7.08	9.95	8.59
GROWTH BUFGX - Investor, 5/19/95, 0.93% BIIGX - Institutional, 7/1/19, 0.79%	-20.37 -20.31	-10.55 -10.41	10.57 10.74	12.92 13.09	12.35 12.52	10.38 10.55
Russell 3000 Growth Index	-20.22	-6.83	15.84	16.58	15.18	10.09
LARGE CAP BUFEX - Investor, 5/19/95, 0.95% BUIEX - Institutional, 7/1/19, 0.81%	-19.66 -19.61	-7.92 -7.77	12.51 12.69	13.67 13.84	14.09 14.26	10.14 10.31
Russell 1000 Growth Index	-20.03	-5.35	16.68	17.28	15.56	10.28
MID CAP BUFMX - Investor, 12/17/01, 1.03% BUIMX - Institutional, 7/1/19, 0.90%	-18.97 -18.89	-14.93 -14.78	10.58 10.75	11.12 11.29	10.22 10.39	8.67 8.83
Russell Midcap Growth Index	-22.42	-16.73	8.72	12.06	12.17	9.31
SMALL CAP BUFSX - Investor, 4/14/98, 1.02% BUISX - Institutional, 7/1/19, 0.87%	-26.61 -26.55	-31.59 -31.49	11.83 12.00	13.58 13.75	11.91 12.07	11.84 12.00
Russell 2000 Growth Index	-23.35	-26.44	4.14	7.08	9.95	5.98
INTERNATIONAL EQUITY
INTERNATIONAL BUFIX - Investor, 9/28/07, 1.05% BUIIX - Institutional, 7/1/19, 0.90%	-18.92 -18.86	-10.53 -10.35	7.85 8.01	8.53 8.69	8.11 8.27	5.24 5.39
FTSE All World Ex-US Index	-10.87	-9.39	5.25	5.61	5.76	2.61
EQUITY & INCOME / HIGH YIELD
DIVIDEND FOCUS BUFDX - Investor, 12/3/12, 0.96% BUIDX - Institutional, 7/1/19, 0.81%	-6.61 -6.57	1.78 1.94	13.18 13.35	11.84 12.00	- -	13.05 13.22
Russell 1000 Index	-13.59	-2.10	13.57	13.44	-	14.19
FLEXIBLE INCOME BUFBX - Investor, 8/12/94, 1.02% BUIBX - Institutional, 7/1/19, 0.87%	1.49 1.59	17.25 17.49	10.61 10.78	9.84 10.00	8.20 8.36	7.61 7.77
Russell 3000 Index	-13.78	-3.11	13.11	13.01	13.29	10.26 10.11
HIGH YIELD BUFHX - Investor, 5/19/95, 1.03% BUIHX - Institutional, 7/1/19, 0.89%	-4.08 -4.04	-1.79 -1.65	5.15 5.28	4.53 4.67	4.94 5.09	6.77 6.92
ICE BofAML U.S. High Yield Index	-7.99	-4.96	2.64	3.56	5.20	6.70

Show / Hide Benchmarks

As of 3/31/2022		Average Annual Total Returns (%)
FUND Ticker, Inception Date, Expense Ratio	YTD	1 YR	3 YR	5 YR	10 YR	SINCE INCEPTION
DOMESTIC EQUITY
DISCOVERY BUFTX - Investor, 4/16/01, 1.02% BUITX - Institutional, 7/1/19, 0.87%	-12.42 -12.40	-4.58 -4.46	13.04 13.21	13.34 13.51	13.05 13.22	9.88 10.04
EARLY STAGE GROWTH BUFOX - Investor, 5/21/04, 1.51% BUIOX - Institutional, 7/1/19, 1.37%	-13.46 -13.44	-13.32 -13.20	16.47 16.64	16.06 16.23	13.64 13.81	9.90 10.06
GROWTH BUFGX - Investor, 5/19/95, 0.93% BIIGX - Institutional, 7/1/19, 0.79%	-9.24 -9.18	9.56 9.74	17.47 17.66	16.38 16.56	13.71 13.88	10.96 11.12
LARGE CAP BUFEX - Investor, 5/19/95, 0.95% BUIEX - Institutional, 7/1/19, 0.81%	-9.76 -9.73	10.23 10.42	18.63 18.81	16.83 17.01	15.18 15.36	10.65 10.82
MID CAP BUFMX - Investor, 12/17/01, 1.03% BUIMX - Institutional, 7/1/19, 0.90%	-10.14 -10.05	-1.55 -1.34	16.63 16.81	13.94 14.12	11.11 14.12	9.26 9.42
SMALL CAP BUFSX - Investor, 4/14/98, 1.02% BUISX - Institutional, 7/1/19, 0.87%	-15.79 -15.72	-16.93 -16.79	19.34 19.52	17.54 17.72	13.51 13.68	12.52 12.69
INTERNATIONAL EQUITY
INTERNATIONAL BUFIX - Investor, 9/28/07, 1.05% BUIIX - Institutional, 7/1/19, 0.90%	-11.83 -11.78	1.94 2.08	12.63 12.80	11.11 11.28	8.87 9.03	5.88 6.04
EQUITY & INCOME / HIGH YIELD
DIVIDEND FOCUS BUFDX - Investor, 12/3/12, 0.96% BUIDX - Institutional, 7/1/19, 0.81%	-1.24 -1.25	13.39 13.51	17.06 17.22	13.34 13.51	- -	13.85 14.02
FLEXIBLE INCOME BUFBX - Investor, 8/12/94, 1.02% BUIBX - Institutional, 7/1/19, 0.87%	3.92 4.02	23.81 24.00	11.94 12.10	10.20 10.37	8.47 8.64	7.72 7.88
HIGH YIELD BUFHX - Investor, 5/19/95, 1.03% BUIHX - Institutional, 7/1/19, 0.89%	-1.70 -1.66	1.97 2.12	6.54 6.67	5.25 5.39	5.28 5.43	6.89 7.04

As of 3/31/2022		Average Annual Total Returns (%)
FUND Ticker, Inception Date, Expense Ratio	YTD	1 YR	3 YR	5 YR	10 YR	SINCE INCEPTION
DOMESTIC EQUITY
DISCOVERY BUFTX - Investor, 4/16/01, 1.02% BUITX - Institutional, 7/1/19, 0.87%	-12.42 -12.40	-4.58 -4.46	13.04 13.21	13.34 13.51	13.05 13.22	9.88 10.04
Russell Midcap Growth Index	-12.58	-0.89	14.81	15.10	13.52	9.75
EARLY STAGE GROWTH BUFOX - Investor, 5/21/04, 1.51% BUIOX - Institutional, 7/1/19, 1.37%	-13.46 -13.44	-13.32 -13.20	16.47 16.64	16.06 16.23	13.64 13.81	9.90 10.06
Russell 2000 Growth Index	-12.63	-14.33	9.88	10.33	11.21	9.43
GROWTH BUFGX - Investor, 5/19/95, 0.93% BIIGX - Institutional, 7/1/19, 0.79%	-9.24 -9.18	9.56 9.74	17.47 17.66	16.38 16.56	13.71 13.88	10.96 11.12
Russell 3000 Growth Index	-9.25	12.86	22.68	20.16	16.64	10.65
LARGE CAP BUFEX - Investor, 5/19/95, 0.95% BUIEX - Institutional, 7/1/19, 0.81%	-9.76 -9.73	10.23 10.42	18.63 18.81	16.83 17.01	15.18 15.36	10.65 10.82
Russell 1000 Growth Index	-9.04	14.98	23.60	20.88	17.04	10.84
MID CAP BUFMX - Investor, 12/17/01, 1.03% BUIMX - Institutional, 7/1/19, 0.90%	-10.14 -10.05	-1.55 -1.34	16.63 16.81	13.94 14.12	11.11 14.12	9.26 9.42
Russell Midcap Growth Index	-12.58	-0.89	14.81	15.10	13.52	9.99
SMALL CAP BUFSX - Investor, 4/14/98, 1.02% BUISX - Institutional, 7/1/19, 0.87%	-15.79 -15.72	-16.93 -16.79	19.34 19.52	17.54 17.72	13.51 13.68	12.52 12.69
Russell 2000 Growth Index	-12.63	-14.33	9.88	10.33	11.21	6.58
INTERNATIONAL EQUITY
INTERNATIONAL BUFIX - Investor, 9/28/07, 1.05% BUIIX - Institutional, 7/1/19, 0.90%	-11.83 -11.78	1.94 2.08	12.63 12.80	11.11 11.28	8.87 9.03	5.88 6.04
FTSE All World Ex-US Index	-12.79	-8.79	9.25	7.42	6.26	3.02
EQUITY & INCOME / HIGH YIELD
DIVIDEND FOCUS BUFDX - Investor, 12/3/12, 0.96% BUIDX - Institutional, 7/1/19, 0.81%	-1.24 -1.25	13.39 13.51	17.06 17.22	13.34 13.51	- -	13.85 14.02
Russell 1000 Index	-5.47	11.76	16.79	13.81	-	13.32
FLEXIBLE INCOME BUFBX - Investor, 8/12/94, 1.02% BUIBX - Institutional, 7/1/19, 0.87%	3.92 4.02	23.81 24.00	11.94 12.10	10.20 10.37	8.47 8.64	7.72 7.88
Russell 3000 Index	-5.61	10.45	16.35	13.43	12.18	8.67
HIGH YIELD BUFHX - Investor, 5/19/95, 1.03% BUIHX - Institutional, 7/1/19, 0.89%	-1.70 -1.66	1.97 2.12	6.54 6.67	5.25 5.39	5.28 5.43	6.89 7.04
ICE BofAML U.S. High Yield Index	-4.51	-0.29	4.40	4.56	5.70	6.87


FUND	TICKER	INCEPTION	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994
DISCOVERY	BUFTX	4/16/2001	12.07%	33.81%	31.63%	-6.54%	25.44%	5.56%	5.64%	10.68%	36.61%	19.73%	-0.69%	22.96%	51.62%	-36.87%	8.15%	11.96%	6.91%	15.69%	62.68%	-39.01%	1.50%*
DIVIDEND FOCUS	BUFDX	12/3/2012	21.15%	16.64%	27.66%	-5.05%	18.02%	12.06%	0.13%	20.81%	23.93%
EARLY STAGE GROWTH	BUFOX	5/21/2004	7.94%	47.69%	34.03%	-3.95%	27.18%	11.05%	-9.41%	-7.38%	61.70%	24.30%	8.14%	26.86%	48.16%	-48.30%	-11.88%	12.54%	9.50%	11.90%*
FLEXIBLE INCOME	BUFBX	8/12/1994	30.21%	-2.24%	18.76%	-7.00%	13.21%	9.90%	-1.97%	3.59%	16.68%	10.31%	9.63%	11.68%	31.07%	-29.47%	9.62%	16.76%	5.41%	14.07%	25.82%	-16.01%	0.83%	8.05%	5.44%	-2.78%	15.09%	19.33%	20.30%	-3.07%*
GROWTH	BUFGX	5/19/1995	21.85%	28.29%	31.91%	0.51%	22.81%	4.86%	2.64%	8.88%	35.40%	11.86%	-0.06%	23.28%	33.34%	-32.69%	7.76%	12.44%	4.59%	7.13%	36.11%	-25.43%	-10.54%	8.80%	37.31%	7.90%	19.04%	36.75%	11.51%*
HIGH YIELD	BUFHX	5/19/1995	5.69%	9.27%	12.32%	-2.26%	5.98%	6.65%	1.80%	1.96%	9.40%	10.35%	3.54%	12.45%	44.01%	-21.30%	3.78%	8.61%	-0.88%	8.38%	20.25%	4.01%	10.58%	4.42%	1.97%	-5.33%	15.76%	16.68%	12.87%*
INTERNATIONAL	BUFIX	9/28/2007	18.42%	19.10%	28.02%	-8.85%	29.33%	3.19%	-0.45%	-2.04%	19.29%	19.01%	-13.82%	13.73%	46.45%	-40.82%	0.70%*
LARGE CAP	BUFEX	5/19/1995	26.27%	28.08%	31.77%	-1.63%	24.86%	6.90%	7.15%	12.76%	32.76%	17.23%	-5.60%	14.32%	50.74%	-40.84%	8.10%	10.45%	1.98%	7.81%	29.72%	-24.76%	-14.87%	20.53%	15.41%	10.68%	24.22%	29.25%	23.35%*
MID CAP	BUFMX	12/17/2001	14.73%	34.18%	37.98%	-7.30%	13.66%	5.93%	-0.52%	5.85%	29.25%	13.93%	-5.83%	24.34%	48.80%	-39.43%	9.97%	5.68%	13.83%	16.60%	43.66%	-22.13%	0.30%*
SMALL CAP	BUFSX	4/14/1998	4.97%	66.36%	40.97%	-5.78%	27.07%	6.22%	-4.46%	-6.55%	44.15%	19.93%	-4.66%	16.59%	37.49%	-29.84%	-0.33%	13.95%	3.22%	28.82%	51.24%	-25.75%	31.18%	33.69%	34.79%	-3.28%*

*Partial year. Inception to year-end.

Investor Class Shares

As of May 24, 2022

FUND	TICKER	NAV	CNG ($)	CNG (%)	YTD (%)
DISCOVERY FUND	BUFTX	$20.53	$-0.58	-2.75%	-28.96%
DIVIDEND FOCUS FUND	BUFDX	$23.84	$-0.09	-0.38%	-8.71%
EARLY STAGE GROWTH FUND	BUFOX	$14.78	$-0.42	-2.76%	-27.94%
FLEXIBLE INCOME FUND	BUFBX	$18.76	$0.10	0.54%	2.62%
GROWTH FUND	BUFGX	$24.97	$-0.51	-2.00%	-26.49%
HIGH YIELD FUND	BUFHX	$10.52	$0.00	0.00%	-6.85%
INTERNATIONAL FUND	BUFIX	$18.49	$-0.15	-0.80%	-21.05%
LARGE CAP FUND	BUFEX	$32.89	$-0.60	-1.79%	-26.19%
MID CAP FUND	BUFMX	$14.62	$-0.35	-2.34%	-25.86%
SMALL CAP FUND	BUFSX	$13.16	$-0.35	-2.59%	-31.21%

Institutional Class Shares

Inception Date of all Institutional Class Shares is July 1, 2019.

As of May 24, 2022

FUND	TICKER	NAV	CNG ($)	CNG (%)	YTD (%)
DISCOVERY FUND	BUITX	$20.64	$-0.58	-2.73%	-28.93%
DIVIDEND FOCUS FUND	BUIDX	$23.85	$-0.08	-0.33%	-8.64%
EARLY STAGE GROWTH FUND	BUIOX	$14.86	$-0.42	-2.75%	-27.90%
FLEXIBLE INCOME FUND	BUIBX	$18.75	$0.10	0.54%	2.68%
GROWTH FUND	BIIGX	$25.06	$-0.52	-2.03%	-26.47%
HIGH YIELD FUND	BUIHX	$10.51	$0.00	0.00%	-6.80%
INTERNATIONAL FUND	BUIIX	$18.51	$-0.15	-0.80%	-21.00%
LARGE CAP FUND	BUIEX	$33.03	$-0.60	-1.78%	-26.14%
MID CAP FUND	BUIMX	$14.70	$-0.34	-2.26%	-25.76%
SMALL CAP FUND	BUISX	$13.23	$-0.35	-2.58%	-31.13%

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 may be lower or higher than the performance quoted and month-end can be obtained by clicking here. Performance is annualized for periods greater than 1 year.

Featured Insights

The Disruption in Healthcare Investing 2020

Market Sentiment vs Fundamentals

Bear Markets & Client Expectations

Ratings & Rankings

FUND NAME	TICKER	3 YR	5 YR	10 YR	CATEGORY
DISCOVERY	BUFTX	80% of 538 funds	73% of 502 funds	43% of 385 funds	Mid-Cap Growth
DIVIDEND FOCUS	BUFDX	38% of 1,212 funds	64% of 1,104 funds	—	Large Blend
EARLY STAGE GROWTH	BUFOX	24% of 582 funds	24% of 526 funds	18% of 391 funds	Small Growth
FLEXIBLE INCOME	BUFBX	42% of 1146 funds	45% of 1066 funds	96% of 773 funds	Large Value
GROWTH	BUFGX	72% of 1,137 funds	73% of 1,048 funds	72% of 775 funds	Large Growth
HIGH YIELD	BUFHX	5% of 632 funds	8% of 575 funds	22% of 381 funds	High Yield Bond
INTERNATIONAL	BUFIX	18% of 392 funds	17% of 349 funds	17% of 223 funds	Foreign Large Growth
LARGE CAP	BUFEX	50% of 1,137 funds	58% of 1,048 funds	31% of 775 funds	Large Growth
MID CAP	BUFMX	32% of 538 funds	61% of 502 funds	79% of 385 funds	Mid-Cap Growth
SMALL CAP	BUFSX	18% of 582 funds	20% of 526 funds	31% of 391 funds	Small Growth

Rankings listed are for the period ended 4/30/22.

FUND NAME	TICKER	SUSTAINABILITY RATING	SUSTAINABILITY RANKING	CARBON METRIC RATING
DISCOVERY	BUFTX		32 out of 1,565 US Equity Mid Cap funds, based on 96% of AUM	Mid Cap Growth category, based on 93% of AUM
DIVIDEND FOCUS	BUFDX		92 out of 3,357 US Equity Large Cap Blend funds, based on 99% of AUM
EARLY STAGE GROWTH*	BUFOX		49 out of 1,625 US Equity Small Cap funds, based on 84% of AUM
FLEXIBLE INCOME	BUFBX		54 out of 1,541 US Equity Large Value funds, based on 99% of AUM
GROWTH	BUFGX		13 out of 1,596 US Equity Large Cap Growth funds, based on 100% of AUM	Large Growth category, based on 99% of AUM
HIGH YIELD	BUFHX	—	—
INTERNATIONAL	BUFIX		10 out of 7,493 Global Equity Large Cap funds, based on 99% of AUM	Foreign Large Growth category, based on 91% of AUM
LARGE CAP	BUFEX		21 out of 1,596 US Equity Large Cap funds, based on 100% of AUM	Large Growth category, based on 96% of AUM
MID CAP	BUFMX		14 out of 1,565 US Equity Mid Cap funds, based on 100% of AUM	Mid Cap Growth category, based on 99% of AUM
SMALL CAP	BUFSX		53 out of 1,625 US Equity Small Cap funds, based on 92% of AUM

Morningstar Sustainability Ratings are as of 3/31/22. Low Carbon Designation Ratings are as of 3/31/22.

Morningstar Rating™

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

©2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar Sustainability Rating™

The Morningstar Sustainability Rating™ is intended to measure how well the issuing companies of the securities within a fund’s portfolio holdings are managing their financially material environmental, social and governance, or ESG, risks relative to the fund’s Morningstar Global Category peers. The Morningstar Sustainability Rating calculation is a five -step process. First, each fund with at least 67% of assets covered by a company-level ESG Risk Score from Sustainalytics receives a Morningstar Portfolio Sustainability Score. The Morningstar Portfolio Sustainability Score is an asset weighted average of company-level ESG Risk Scores. The Portfolio Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies with high ESG Risk. Second, the Historical Sustainability Score is an exponential weighted moving average of the Portfolio Sustainability Scores over the past 12 months. The process rescales the current Portfolio Sustainability Score to reflect the consistency of the scores. The Historical Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies with high ESG Risk, on a consistent historical basis. Third, the Morningstar Sustainability Rating is then assigned to all scored funds within Morningstar Global Categories in which at least thirty (30) funds receive a Historical Sustainability Score and is determined by each fund’s Morningstar Sustainability Rating Score rank within the following distribution: High (highest 10%), Above Average (next 22.5%), Average (next 35%), Below Average (next 22.5%), and Low (lowest 10%). Fourth, Morningstar applies a 1% rating buffer from the previous month to increase rating stability. This means a fund must move 1% beyond the rating breakpoint to change ratings. Fifth, they adjust downward positive Sustainability Ratings to funds with high ESG Risk scores. The logic is as follows: If Portfolio Sustainability score is above 40, then the fund receives a Low Sustainability Rating. If Portfolio Sustainability score is above 35 and preliminary rating is Average or better, then the fund is downgraded to Below Average. If the Portfolio Sustainability score is above 30 and preliminary rating is Above Average, then the fund is downgraded to Average. If the Portfolio Sustainability score is below 30, then no adjustment is made. The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. Since a Sustainability Rating is assigned to all funds that meet the above criteria, the rating it is not limited to funds with explicit sustainable or responsible investment mandates. Morningstar updates its Sustainability Ratings monthly. The Portfolio Sustainability Score is calculated when Morningstar receives a new portfolio. Then, the Historical Sustainability Score and the Sustainability Rating is calculated one month and six business days after the reported as-of date of the most recent portfolio. As part of the evaluation process, Morningstar uses Sustainalytics’ ESG scores from the same month as the portfolio as-of date. Please click on http://corporate1.morningstar.com/SustainableInvesting/ for more detailed information about the Morningstar Sustainability Rating methodology and calculation frequency. Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm. Morningstar, Inc. holds a non-controlling ownership interest in Sustainalytics.

Morningstar Low Carbon Designation™

The Morningstar® Low Carbon Designation™ is intended to allow investors to easily identify low-carbon funds across the global universe. The designation is an indicator that the companies held in a portfolio are in general alignment with the transition to a low-carbon economy. The designation is given to portfolios that have low carbon-risk scores and low levels of exposure to fossil fuels. To determine carbon-risk scores and fossil fuel involvement, Morningstar uses Sustainalytics' company-level data. The Morningstar® Portfolio Carbon Risk Score™ measures the risk that companies in a portfolio face from the transition to a low-carbon economy. The Morningstar® Portfolio Fossil Fuel Involvement™ percentage assesses the degree to which a portfolio is exposed to thermal coal extraction and power generation as well as oil and gas production, power generation, and products & services. To receive a Morningstar Portfolio Carbon Risk Score, at least 67% of portfolio assets must have a carbon-risk rating from Sustainalytics. The percentage of assets covered is rescaled to 100% before calculating the score. To receive the designation, a portfolio must meet two criteria: 1) a 12-month trailing average Morningstar Portfolio Carbon Risk Score below 10 and 2) a 12-month trailing average exposure to fossil fuels less than 7% of assets, which is approximately a 33% underweighting to the global equity universe. Funds receive the Low Carbon designation based on the most recent quarterly calculations of their 12- month trailing average Morningstar Portfolio Carbon Risk Scores and Morningstar Portfolio Fossil Fuel Involvement. Funds holding the Low Carbon designation that no longer meet the criteria will not receive the designation for the subsequent quarter. All Morningstar Portfolio Carbon Metrics, including the Morningstar Portfolio Carbon Risk Score, Morningstar Portfolio Fossil Fuel Involvement, and the Morningstar Low Carbon Designation, are calculated quarterly. Please visit http://corporate1.morningstar.com/SustainableInvesting/ for more detail information about the Morningstar Low Carbon Designation and its calculation. Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm. Morningstar, Inc. holds a non-controlling ownership interest in Sustainalytics.

Dividends & Distributions

Now Available — 2021 Year-End Capital Gains Distributions & Dividends

Discovery Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Total Distribution
12/3/2021	$26.97 (Inv) $27.10 (Inst)	- -	$2.07707 $2.07707	$2.29111 $2.29111	$4.36818 $4.36818
12/18/2020	$29.79 (Inv) $29.87 (Inst)	- -	$0.67369 $0.67369	$1.72119 $1.72119	$2.39488 $2.39488
12/18/2019	$24.00 (Inv) $24.02 (Inst)	- -	$0.66861 $0.66861	$2.92026 $2.92026	$3.58887 $3.58887
12/18/2018	$21.26		$0.16619	$1.31735	$1.48354
12/19/2017	$24.34		$0.54728	$0.57634	$1.12362
12/20/2016	$20.47		$0.28301	$0.23560	$0.51861
12/18/2015	$19.30		$0.25073	$1.23253	$1.48326
12/18/2014	$19.86		$0.30280	$1.75262	$2.05542
12/18/2013	$19.44		$0.52163	$0.98886	$1.51049
12/18/2012	$15.87	$0.03194643		$1.19021	$1.22215643
12/20/2011	$14.08		$0.09271	$0.89769	$0.99040
12/20/2010	$15.25			$0.31678	$0.31678
12/18/2007	$13.25		$0.16525	$0.58416	$0.74941
12/19/2006	$13.12			$0.22628	$0.22628
12/20/2005	$12.39			$0.04532	$0.04532

Dividend Focus Fund

2022 Distribution Dates:
Net Investment Income, if any – Record Date (6/17/22); Payment Date (6/20/22) Net Investment Income, if any – Record Date (9/19/22); Payment Date (9/20/22) Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
3/18/22	$25.56 (Inv) $25.56 (Inst)	$0.05379801 $0.06334236	- -	- -	$0.05379801 $0.06334236
12/20/21	$25.24 (Inv) $25.24 (Inst)	$0.02757485 $0.03722365	- -	- -	$0.02757485 $0.03722365
12/3/21	$24.99 (Inv) $24.99 (Inst)	- -	$0.10327 $0.10327	$0.20964 $0.20964	$0.31291 $0.31291
9/20/21	$24.79 (Inv) $24.79 (Inst)	$0.03057741 $0.04007525	- -	- -	$0.03057741 $0.04007525
6/18/21	$24.27 (Inv) $24.26 (Inst)	$0.02933960 $0.03839857	- -	- -	$0.02933960 $0.03839857
3/18/21	$23.16 (Inv) $23.16 (Inst)	$0.05098388 $0.05942821	- -	- -	$0.05098388 $0.05942821
12/18/20	$21.72 (Inv) $21.72 (Inst)	$0.00905139 $0.01801390	- -	- -	$0.00905139 $0.01801390
9/18/20	$19.13 (Inv) $19.13 (Inst)	$0.03170945 $0.03903915	- -	- -	$0.03170945 $0.03903915
6/18/20	$18.26 (Inv) $18.26 (Inst)	$0.03034499 $0.03590278	- -	- -	$0.03034499 $0.03590278
3/18/20	$14.07 (Inv) $14.07 (Inst)	$0.03107063 $0.03831320	- -	- -	$0.03107063 $0.03831320
12/18/19	$18.82 (Inv) $18.82 (Inst)	$0.04196909 $0.04964262	- -	- -	$0.04196909 $0.04964262
9/18/19	$17.80 (Inv) $17.80 (Inst)	$0.04731858 $0.05327159	- -	- -	$0.04731858 $0.05327159
6/18/19	$17.20	$0.06566509	-	-	$0.06566509
3/19/19	$16.72	$0.05232873	-	-	$0.05232873
12/18/18	$15.33	$0.08791977	$0.02500	$0.51339	$0.62630977
9/18/18	$17.96	$0.05499230	-	-	$0.05499230
6/19/18	$16.99	$0.05791680	-	-	$0.05791680
3/20/18	$16.72	$0.04369471	-	-	$0.04369471
12/19/17	$16.73	$0.05315489	$0.15204	-	$0.20519489
9/19/17	$15.79	$0.05107348	-	-	$0.05107348
6/20/17	$15.53	$0.04405814	-	-	$0.04405814
3/20/17	$15.37	$0.04662158	-	-	$0.04662158
12/20/16	$14.58	$0.04502534	$0.06489	$0.03508	$0.14499534
9/20/16	$13.78	$0.04538819	-	-	$0.04538819
6/20/16	$13.34	$0.04391608	-	-	$0.04391608
3/18/16	$13.15	$0.04845082	-	-	$0.04845082
12/18/15	$12.88	$0.04061333	$0.14263	$0.11942	$0.30266333
9/18/15	$12.94	$0.03816853	-	-	$0.03816853
6/18/15	$14.29	$0.04120635	-	-	$0.04120635
3/18/15	$13.89	$0.04200730	-	-	$0.04200730
12/18/14	$13.53	$0.03066401	$0.54808	$0.10086	$0.67960401
9/18/14	$13.50	$0.02424009	-	-	$0.02424009
6/18/14	$13.05	$0.03496855	-	-	$0.03496855
3/18/14	$12.11	$0.03702784	-	-	$0.03702784
12/18/13	$11.56	$0.04725764	$0.38271	-	$0.42996764
9/18/13	$11.47	$0.03960545	-	-	$0.03960545
6/18/13	$11.13	$0.03967611	-	-	$0.03967611
3/19/13	$10.36	$0.01492578	-	-	$0.01492578

Early Stage Growth Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/3/2021	$19.61 (Inv) $19.71 (Inst)	- -	$1.05294 $1.05294	$2.19481 $2.19481	$3.24775 $3.24775
12/18/2020	$21.65 (Inv) $21.71 (Inst)	- -	$0.78389 $0.78389	$1.69907 $1.69907	$2.48296 $2.48296
12/18/2019	$16.62 (Inv) $16.64 (Inst)	- -	- -	$0.79828 $0.79828	$0.79828 $0.79828
12/18/2018	$12.99	-	$0.48040	$1.41757	$1.89797
12/19/2017	$15.68	-	$1.57593	$1.55028	$3.12621
12/20/2016	$14.89	-	$0.07442	$1.15561	$1.23003
12/18/2015	$14.20	-	-	$1.22545	$1.22545
12/18/2014	$16.92	-	$0.71582	$0.53807	$1.25389
12/18/2013	$19.26	-	-	$0.04726	$0.04726
12/18/2008	$4.78	-	$0.00909	$0.47624	$0.48533
12/18/2007	$10.28	-	-	$1.02578	$1.02578
12/19/2006	$12.91	-	-	$0.69402	$0.69402
12/20/2005	$12.15	-	$0.05271	$0.05271	$0.05271

Flexible Income Fund

2022

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
5/17/22	5/18/22	$18.35 (Inv) $18.34 (Inst)	$0.02507198 $0.02735278	- -	- -	$0.02507198 $0.02735278
4/18/22	4/19/22	$19.37 (Inv) $19.37 (Inst)	$0.00510800 $0.00652534	- -	- -	$0.00510800 $0.00652534
3/17/22	3/18/22	$18.58 (Inv) $18.57 (Inst)	$0.00875767 $0.01084725	- -	- -	$0.00875767 $0.01084725
2/17/22	2/18/22	$17.95 (Inv) $17.94 (Inst)	$0.01556058 $0.01779806	- -	- -	$0.01556058 $0.01779806
1/18/22	1/19/22	$18.47 (Inv) $18.46 (Inst)	$0.01406056 $0.01646594	- -	- -	$0.01406056 $0.01646594

2022 Distribution Dates:
Net Investment Income, if any – Record Date (6/17/22); Payment Date (6/20/22)
Net Investment Income, if any – Record Date (7/18/22); Payment Date (7/19/22)
Net Investment Income, if any – Record Date (8/17/22); Payment Date (8/18/22)
Net Investment Income, if any – Record Date (9/19/22); Payment Date (9/20/22)
Net Investment Income, if any – Record Date (10/17/22); Payment Date (10/18/22)
Net Investment Income, if any – Record Date (11/17/22); Payment Date (11/18/22)
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22)
Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

2021▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/21	12/20/21	$17.77 (Inv) $17.77 (Inst)	$0.06045226 $0.06263973	- -	- -	$0.06045226 $0.06263973
12/2/21	12/3/21	$17.51 (Inv) $17.51 (Inst)	- -	$0.05270 $0.05270	$0.63786 $0.63786	$0.69056 $0.69056
11/18/21	11/19/21	$18.59 (Inv) $18.58 (Inst)	$0.03251913 $0.03502901	- -	- -	$0.03251913 $0.03502901
10/18/21	10/19/21	$18.08 (Inv) $18.07 (Inst)	$0.00571524 $0.00798681	- -	- -	$0.00571524 $0.00798681
9/17/21	9/20/21	$17.05 (Inv) $17.04 (Inst)	$0.03791136 $0.04015465	- -	- -	$0.03791136 $0.04015465
8/17/21	8/18/21	$17.28 (Inv) $17.27 (Inst)	$0.03512588 $0.03721368	- -	- -	$0.03512588 $0.03721368
7/19/21	7/20/21	$17.09 (Inv) $17.08 (Inst)	$0.00589869 $0.00819299	- -	- -	$0.00589869 $0.00819299
6/17/21	6/18/21	$16.99 (Inv) $16.98 (Inst)	$0.03934585 $0.04149178	- -	- -	$0.03934585 $0.04149178
5/17/21	5/18/21	$17.19 (Inv) $17.18 (Inst)	$0.02426012 $0.02622444	- -	- -	$0.02426012 $0.02622444
4/19/21	4/20/21	$16.65 (Inv) $16.64 (Inst)	$0.00847721 $0.01071978	- -	- -	$0.00847721 $0.01071978
3/17/21	3/18/21	$16.01 (Inv) $16.00 (Inst)	$0.03984988 $0.04170871	- -	- -	$0.03984988 $0.04170871
2/17/21	2/18/21	$15.82 (Inv) $15.82 (Inst)	$0.03172344 $0.03362171	- -	- -	$0.03172344 $0.03362171
1/19/21	1/20/21	$15.71 (Inv) $15.70 (Inst)	$0.01013286 $0.01221186	- -	- -	$0.01013286 $0.01221186

2020▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/20	12/18/20	$14.89 (Inv) $14.89 (Inst)	$0.03674148 $0.03553051	$0.03316 $0.03316	$0.17703 $0.17703	$0.24693148 $0.24572051
11/17/20	11/18/20	$14.47 (Inv) $14.46 (Inst)	$0.03343034 $0.03510836	- -	- -	$0.03343034 $0.03510836
10/19/20	10/20/20	$13.93 (Inv) $13.93 (Inst)	$0.01148232 $0.01334694	- -	- -	$0.01148232 $0.01334694
9/17/20	9/18/20	$14.00 (Inv) $13.99 (Inst)	$0.03141607 $0.03327124	- -	- -	$0.03141607 $0.03327124
8/17/20	8/18/20	$14.48 (Inv) $14.47 (Inst)	$0.03037001 $0.03222123	- -	- -	$0.03037001 $0.03222123
7/17/20	7/20/20	$14.10 (Inv) $14.09 (Inst)	$0.01198759 $0.01372148	- -	- -	$0.01198759 $0.01372148
6/17/20	6/18/20	$14.03 (Inv) $14.02 (Inst)	$0.02676727 $0.03115148	- -	- -	$0.02676727 $0.03115148
5/18/20	5/19/20	$13.31 (Inv) $13.31 (Inst)	$0.03550457 $0.03721941	- -	- -	$0.03550457 $0.03721941
4/17/20	4/20/20	$13.02 (Inv) $13.02 (Inst)	$0.00378510 $0.00533692	- -	- -	$0.00378510 $0.00533692
3/17/20	3/18/20	$11.18 (Inv) $11.17 (Inst)	$0.02710948 $0.02877999	- -	- -	$0.02710948 $0.02877999
2/18/20	2/19/20	$16.01 (Inv) $16.01 (Inst)	$0.02114417 $0.02219948	- -	- -	$0.02114417 $0.02219948
1/17/20	1/21/20	$16.04 (Inv) $16.04 (Inst)	$0.01794007 $0.02027910	- -	- -	$0.01794007 $0.02027910

2019▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/19	12/18/19	$15.59 (Inv) $15.59 (Inst)	$0.04629671 $0.04912760	$0.02872 $0.02872	$0.07558 $0.07558	$0.15060 $0.15343
11/18/19	11/19/19	$15.47 (Inv) $15.46 (Inst)	$0.03471377 $0.03676016	- -	- -	$0.03471377 $0.03676016
10/17/19	10/18/19	$15.12 (Inv) $15.11 (Inst)	$0.01145893 $0.01334413	- -	- -	$0.01145893 $0.01334413
9/17/19	9/18/19	$15.41 (Inv) $15.40 (Inst)	$0.01890039 $0.02069821	- -	- -	$0.01890039 $0.02069821
8/19/19	8/20/19	$14.71 (Inv) $14.70 (Inst)	$0.04961371 $0.05168269	- -	- -	$0.04961371 $0.05168269
7/17/19	7/18/19	$15.27 (Inv) $15.27 (Inst)	$0.00826352 $0.00940197	- -	- -	$0.00826352 $0.00940197
6/17/19	6/18/19	$15.13	$0.02141209	-	-	$0.02141209
5/17/19	5/20/19	$15.01	$0.05121407	-	-	$0.05121407
4/17/19	4/18/19	$15.43	$0.01351815	-	-	$0.01351815
3/18/19	3/19/19	$15.18	$0.03240602	-	-	$0.03240602
2/19/19	2/20/19	$15.12	$0.01889814	-	-	$0.01889814
1/17/19	1/18/19	$14.58	$0.02098656	-	-	$0.02098656

2018▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/18	12/18/18	$13.86	$0.00583026	$0.01651	$0.42416	$0.44650026
11/19/18	11/20/18	$15.00	$0.02204593	-	-	$0.02204593
No distribution for October 2018
9/17/18	9/18/18	$16.04	$0.02689378	-	-	$0.02689378
8/17/18	8/18/18	$15.86	$0.05035470	-	-	$0.05035470
7/17/18	7/18/18	$15.66	$0.12908504	-	-	$0.12908504
6/18/18	6/19/18	$15.62	$0.02556148	-	-	$0.02556148
5/17/18	5/18/18	$15.59	$0.04873401	-	-	$0.04873401
4/17/18	4/18/18	$15.51	$0.01254410	-	-	$0.01254410
3/19/18	3/20/18	$15.06	$0.02352098	-	-	$0.02352098
2/20/18	2/21/18	$14.98	$0.02173024	-	-	$0.02173024
1/17/18	1/18/18	$16.06	$0.01756997	-	-	$0.01756997

2017▼

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/19/2017	$15.44	$0.04185682	$0.00129	$0.49433	$0.53747682
11/20/2017	$15.33	$0.04494091	-	-	$0.04494091
10/18/2017	$15.33	$0.01301819	-	-	$0.01301819
9/19/2017	$15.14	$0.02847672	-	-	$0.02847672
8/18/2017	$14.57	$0.04700304	-	-	$0.04700304
7/18/2017	$14.69	$0.01551784	-	-	$0.01551784
6/20/2017	$14.75	$0.02782174	-	-	$0.02782174
5/18/2017	$14.47	$0.05342813	-	-	$0.05342813
4/18/2017	$14.61	$0.02480801	-	-	$0.02480801
3/20/2017	$14.75	$0.01956729	-	-	$0.01956729
2/21/2017	$14.88	$0.02256813	-	-	$0.02256813
1/18/2017	$14.62	$0.02170283	-	-	$0.02170283

2016▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2016	$14.66	$0.04563388	$0.00703000	$0.04563388	$0.05969000	$0.11235388
11/18/2016	$14.03	$0.04091959	-	$0.04091959	-	$0.04091959
10/18/2016	$13.93	$0.01688347	-	$0.01688347	-	$0.01688347
9/20/2016	$13.89	$0.02795617	-	$0.02795617	-	$0.02795617
8/18/2016	$14.37	$0.05059294	-	$0.05059294	-	$0.05059294
7/19/2016	$14.33	$0.01698670	-	$0.01698670	-	$0.01698670
6/20/2016	$13.87	$0.06769558	-	$0.06769558	-	$0.06769558
5/18/2016	$13.61	$0.03415750	-	$0.03415750	-	$0.03415750
4/19/2016	$13.94	$0.01693122	-	$0.01693122	-	$0.01693122
3/18/2016	$13.71	$0.03200399	-	$0.03200399	-	$0.03200399
2/18/2016	$12.96	$0.02252043	-	$0.02252043	-	$0.02252043
1/20/2016	$12.55	$0.02191057	-	$0.02191057	-	$0.02191057

2015▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2015	$13.50	$0.04320147	--	$0.04320147	$0.09672000	$0.13992147
11/18/2015	$14.19	$0.04169148	-	$0.04169148	-	$0.04169148
10/20/2015	$14.11	$0.02193725	-	$0.02193725	-	$0.02193725
9/18/2015	$13.56	$0.03642946	-	$0.03642946	-	$0.03642946
8/18/2015	$14.13	$0.03919810	-	$0.03919810	-	$0.03919810
7/20/2015	$14.39	$0.02121954	-	$0.02121954	-	$0.02121954
6/18/2015	$14.66	$0.04055109	-	$0.04055109	-	$0.04055109
5/19/2015	$14.76	$0.04360442	-	$0.04360442	-	$0.04360442
4/20/2015	$14.72	$0.04328131	-	$0.04328131	-	$0.04328131
3/18/2015	$14.52	$0.03581536	-	$0.03581536	-	$0.03581536
2/18/2015	$14.69	$0.03129948	-	$0.03129948	-	$0.03129948
1/21/2015	$14.37	$0.00727564	-	$0.00727564	-	$0.00727564

2014▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2014	$14.43	$0.05335737	$0.02552000	$0.05335737	$0.03817000	$0.11704737
11/18/2014	$14.87	$0.02558398	-	$0.02558398	-	$0.02558398
10/20/2014	$14.41	$0.01842911	-	$0.01842911	-	$0.01842911
9/18/2014	$14.99	$0.02239766	-	$0.02239766	-	$0.02239766
8/19/2014	$15.04	$0.02013928	-	$0.02013928	-	$0.02013928
7/18/2014	$15.08	$0.01981656	-	$0.01981656	-	$0.01981656
6/18/2014	$14.90	$0.02317062	-	$0.02317062	-	$0.02317062
5/20/2014	$14.63	$0.02455010	-	$0.02455010	-	$0.02455010
4/21/2014	$14.57	$0.01310885	-	$0.01310885	-	$0.01310885
3/18/2014	$14.33	$0.01982326	-	$0.01982326	-	$0.01982326
2/19/2014	$14.22	$0.00910930	-	$0.00910930	-	$0.00910930
1/21/2014	$14.23	$0.02031780	-	$0.02031780	-	$0.02031780

2013▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2013	$14.06	$0.05383558	$0.07750000	$0.05383558	$0.04745000	$0.17878558
11/19/2013	$14.31	$0.02529143	-	$0.02529143	-	$0.02529143
10/18/2013	$14.11	$0.01951625	-	$0.01951625	-	$0.01951625
9/18/2013	$14.05	$0.02483825	-	$0.02483825	-	$0.02483825
8/20/2013	$13.78	$0.03244990	-	$0.03244990	-	$0.03244990
7/18/2013	$13.91	$0.01758716	-	$0.01758716	-	$0.01758716
6/18/2013	$13.84	$0.02471261	-	$0.02471261	-	$0.02471261
5/20/2013	$13.98	$0.02806788	-	$0.02806788	-	$0.02806788
4/18/2013	$13.43	$0.00821965	-	$0.00821965	-	$0.00821965
3/19/2013	$13.40	$0.03931351	-	$0.03931351	-	$0.03931351
2/20/2013	$13.20	$0.03499774	-	$0.03499774	-	$0.03499774
1/18/2013	$12.99	$0.02717291	-	$0.02717291	-	$0.02717291

2012▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2012	$12.78	$0.06871801	-	$0.06871801	-	$0.06871801
11/20/2012	$12.49	$0.03898206	-	$0.03898206	-	$0.03898206
10/18/2012	$12.94	$0.02210625	-	$0.02210625	-	$0.02210625
9/18/2012	$12.88	$0.03067996	-	$0.03067996	-	$0.03067996
8/20/2012	$12.62	$0.03761051	-	$0.03761051	-	$0.03761051
7/18/2012	$12.43	$0.02272863	-	$0.02272863	-	$0.02272863
6/19/2012	$12.29	$0.04392758	-	$0.04392758	-	$0.04392758
5/18/2012	$12.00	$0.04127610	-	$0.04127610	-	$0.04127610
4/18/2012	$12.28	$0.01298372	-	$0.01298372	-	$0.01298372
3/20/2012	$12.42	$0.03751484	-	$0.03751484	-	$0.03751484
2/21/2012	$12.30	$0.01324135	-	$0.01324135	-	$0.01324135

2011▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2011	$11.67	$0.10101730	-	$0.10101730	-	$0.10101730
11/18/2011	$11.52	$0.04178773	-	$0.04178773	-	$0.04178773
10/18/2011	$11.48	$0.02923918	-	$0.02923918	-	$0.02923918
9/20/2011	$11.36	$0.10187602	-	$0.10187602	-	$0.10187602
6/20/2011	$11.65	$0.08877461	-	$0.08877461	-	$0.08877461
3/18/2011	$11.49	$0.00638945	-	$0.00638945	-	$0.00638945

2010▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2010	$11.06	$0.15887461	-	$0.15887461	-	$0.15887461
9/20/2010	$10.58	$0.08344084	-	$0.08344084	-	$0.08344084
6/18/2010	$10.32	$0.08061527	-	$0.08061527	-	$0.08061527
3/18/2010	$10.59	$0.00280638	-	$0.00280638	-	$0.00280638

2009▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2009	$10.18	$0.17503702	-	$0.17503702	-	$0.17503702
9/18/2009	$10.01	$0.09460726	-	$0.09460726	-	$0.09460726
6/18/2009	$8.96	$0.07783619	-	$0.07783619	-	$0.07783619
3/18/2009	$7.76	$0.01582946	-	$0.01582946	-	$0.01582946

2008▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2008	$7.94	$0.18268671	-	$0.18268671	-	$0.18268671
9/18/2008	$10.86	$0.09861885	-	$0.09861885	-	$0.09861885
6/18/2008	$11.88	$0.08765000	-	$0.08765000	-	$0.08765000
3/18/2008	$11.44	$0.02639640	-	$0.02639640	-	$0.02639640

2007▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2007	$11.90	$0.15739870	$0.02638000	$0.15739870	$0.26638000	$0.45015870
9/18/2007	$12.44	$0.08646968	-	$0.08646968	-	$0.08646968
6/19/2007	$12.39	$0.08400766	-	$0.08400766	-	$0.08400766
3/20/2007	$11.59	$0.12954750	-	$0.12954750	-	$0.12954750

2006▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/19/2006	$11.82	$0.04408844	-	$0.04408844	-	$0.04408844
9/19/2006	$11.07	$0.07190000	-	$0.07190000	-	$0.07190000
6/20/2006	$10.52	$0.07630000	-	$0.07630000	-	$0.07630000
3/20/2006	$10.73	$0.06400000	-	$0.06400000	-	$0.06400000

2005▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2005	$10.36	$0.08840000	-	$0.08840000	-	$0.08840000
9/20/2005	$10.46	$0.07700000	-	$0.07700000	-	$0.07700000
6/20/2005	$10.21	$0.06820000	-	$0.06820000	-	$0.06820000
3/18/2005	$10.13	$0.05750000	-	$0.05750000	-	$0.05750000

2004▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2004	$10.00	$0.10230000	-	$0.10230000	-	$0.10230000
9/20/2004	$9.61	$0.07040000	-	$0.07040000	-	$0.07040000
6/18/2004	$9.52	$0.07550000	-	$0.07550000	-	$0.07550000
3/18/2004	$9.36	$0.05590000	-	$0.05590000	-	$0.05590000

2003▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2004	$10.00	$0.10230000	-	$0.10230000	-	$0.10230000
9/20/2004	$9.61	$0.07040000	-	$0.07040000	-	$0.07040000
6/18/2004	$9.52	$0.07550000	-	$0.07550000	-	$0.07550000
3/18/2004	$9.36	$0.05590000	-	$0.05590000	-	$0.05590000

2002▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
9/19/2002	$7.04	$0.09000000	-	$0.09000000	-	$0.09000000
6/20/2002	$8.11	$0.05000000	-	$0.05000000	-	$0.05000000
3/21/2002	$9.30	$0.10000000	-	$0.10000000	-	$0.10000000

2001▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
9/20/2001	$7.84	$0.11000000	-	$0.11000000	-	$0.11000000
6/21/2001	$9.52	$0.05000000	-	$0.05000000	-	$0.05000000
3/22/2001	$8.76	$0.15000000	-	$0.15000000	-	$0.15000000

2000▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
9/14/2000	$9.82	$0.14000000	-	$0.14000000	-	$0.14000000
6/22/2000	$9.55	$0.16000000	-	$0.16000000	-	$0.16000000
3/23/2000	$9.93	$0.09000000	-	$0.09000000	-	$0.09000000

1999▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/16/1999	$8.75	$0.08400000	-	$0.08400000	-	$0.08400000
9/23/1999	$8.82	$0.16000000	-	$0.16000000	-	$0.16000000
6/24/1999	$9.36	$0.12000000	-	$0.12000000	-	$0.12000000
3/24/1999	$8.77	$0.19000000	-	$0.19000000	-	$0.19000000

1998▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/17/1998	$9.07	$0.18000000	$0.18000000	$0.36000000	$0.59000000	$0.95000000
9/18/1998	$9.82	$0.17000000	-	$0.17000000	-	$0.17000000
6/19/1998	$11.22	$0.12000000	-	$0.12000000	-	$0.12000000
3/20/1998	$11.44	$0.15000000	-	$0.15000000	-	$0.15000000

1997▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/26/1997	$10.71	$0.20010000	$0.33210000	$0.00000000	$0.57580000	$1.10800000
9/19/1997	$12.15	$0.15000000	-	$0.15000000	-	$0.15000000
6/20/1997	$11.33	$0.15000000	-	$0.15000000	-	$0.15000000
3/21/1997	$10.70	$0.15000000	-	$0.15000000	-	$0.15000000

1996▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/27/1996	$10.88	$0.21700000	-	$0.21700000	-	$0.21700000
9/20/1996	$11.21	$0.18000000	-	$0.18000000	-	$0.18000000
6/21/1996	$11.01	$0.16000000	-	$0.16000000	-	$0.16000000
3/29/1996	$10.70	$0.18000000	-	$0.18000000	-	$0.18000000

1995▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/29/1995	$10.46	$0.16100000	-	$0.16100000	-	$0.16100000
9/22/1995	$10.49	$0.15000000	-	$0.15000000	-	$0.15000000
6/30/1995	$10.34	$0.18700000	-	$0.18700000	-	$0.18700000
3/24/1995	$9.91	$0.15000000	-	$0.15000000	-	$0.15000000

1994▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/23/1994	$9.54	$0.15000000	-	$0.15000000	-	$0.15000000

Growth Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/3/2021	$32.30 (Inv) $32.40 (Inst)	- -	$0.02223 $0.02223	$3.34000 $3.34000	$3.36223 $3.36223
12/18/2020	$30.24 (Inv) $30.29 (Inst)	- -	- -	$1.53123 $1.53123	$1.53123 $1.53123
12/18/2019	$24.91 (Inv) $24.91 (Inst)	$0.07759508 $0.09980872	$0.07352 $0.07352	$3.28080 $3.28080	$3.43192 $3.45477
12/18/2018	$21.86	$0.00792452	$0.03868	$7.49392	$7.54052452
12/19/2017	$29.37	$0.45372538	$0.04746	$5.46795	$5.96913538
12/20/2016	$29.11	$0.22095542	$0.02407	$1.40548	$1.65050542
12/18/2015	$28.33	$0.19258759	$0.10370	$5.01257	$5.30885759
12/18/2014	$33.24	$0.17825270	$0.28103	$4.21259	$4.67187270
12/18/2013	$34.05	$0.22328061	$0.67239	$1.35484	$2.25051061
12/18/2012	$27.66	$0.12419647	-	-	$0.12419647
12/20/2011	$24.47	$0.00389823	$0.09326	$0.35463	$0.45178823
12/20/2010	$24.95	$0.05757300	-	$0.00636	$0.05757300
12/18/2009	$20.08	$0.09953559	-	-	$0.09953559
12/18/2008	$15.19	$0.08357339	-	$0.06905	$0.15262339
12/18/2007	$23.01	$0.04799693	-	$0.05611	$0.10410693
12/19/2006	$22.26	$0.03565	$0.13123	$0.54877	$0.71565
12/20/2005	$20.62	$0.0206	-	-	$0.0206
12/20/2004	$19.41	$0.0856	-	-	$0.0856
12/27/2000	$19.33	-	$0.38	$2.47	$2.85
12/23/1999	$20.54	$0.016	$0.751	$0.168	$0.935
12/23/1998	$15.86	$0.02	$0.05	$0.46	$0.53
12/30/1997	$15.22	$0.0353	$0.6978	$0.3179	$1.051

High Yield Fund

2022

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
5/17/22	5/18/22	$10.56 (Inv) $10.55 (Inst)	$0.09466703 $0.09668402	- -	- -	$0.09466703 $0.09668402
4/18/22	4/19/22	$11.08 (Inv) $11.07 (Inst)	$0.02849991 $0.02931875	- -	- -	$0.02849991 $0.02931875
3/17/22	3/18/22	$11.17 (Inv) $11.17 (Inst)	$0.03730506 $0.0386135	- -	- -	$0.03730506 $0.0386135
2/17/22	2/18/22	$11.24 (Inv) $11.23 (Inst)	$0.04083297 $0.04218958	- -	- -	$0.04083297 $0.04218958
1/18/22	1/19/22	$11.49 (Inv) $11.48 (Inst)	$0.02618556 $0.02771153	- -	- -	$0.02618556 $0.02771153

2022 Distribution Dates:
Net Investment Income, if any – Record Date (6/17/22); Payment Date (6/20/22) Net Investment Income, if any – Record Date (7/18/22); Payment Date (7/19/22) Net Investment Income, if any – Record Date (8/17/22); Payment Date (8/18/22) Net Investment Income, if any – Record Date (9/19/22); Payment Date (9/20/22) Net Investment Income, if any – Record Date (10/17/22); Payment Date (10/18/22) Net Investment Income, if any – Record Date (11/17/22); Payment Date (11/18/22) Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

2021▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/21	12/20/21	$11.45 (Inv) $11.44 (Inst)	$0.05984328 $0.06128023	- -	- -	$0.05984328 $0.06128023
12/2/21	12/3/21	$11.45 (Inv) $11.44 (Inst)	- -	$0.19891 $0.19891	$0.14537 $0.14537	$0.34428 $0.34428
11/18/21	11/19/21	$11.89 (Inv) $11.88 (Inst)	$0.03967448 $0.04129057	- -	- -	$0.03967448 $0.04129057
10/18/21	10/19/21	$11.93 (Inv) $11.92 (Inst)	$0.04366965 $0.04519780	- -	- -	$0.04366965 $0.04519780
9/17/21	9/20/21	$11.94 (Inv) $11.93 (Inst)	$0.03991191 $0.04143702	- -	- -	$0.03991191 $0.04143702
8/17/21	8/18/21	$11.87 (Inv) $11.86 (Inst)	$0.03582984 $0.03725405	- -	- -	$0.03582984 $0.03725405
7/19/21	7/20/21	$11.92 (Inv) $11.91 (Inst)	$0.04163377 $0.04318868	- -	- -	$0.04163377 $0.04318868
6/17/21	6/18/21	$11.96 (Inv) $11.95 (Inst)	$0.06239306 $0.06385012	- -	- -	$0.06239306 $0.06385012
5/17/21	5/18/21	$11.88 (Inv) $11.87 (Inst)	$0.02955878 $0.03092565	- -	- -	$0.02955878 $0.03092565
4/19/21	4/20/21	$11.89 (Inv) $11.88 (Inst)	$0.02511590 $0.02671660	- -	- -	$0.02511590 $0.02671660
3/17/21	3/18/21	$11.78 (Inv) $11.77 (Inst)	$0.04416967 $0.04553159	- -	- -	$0.04416967 $0.04553159
2/17/21	2/18/21	$11.89 (Inv) $11.88 (Inst)	$0.03905063 $0.04046545	- -	- -	$0.03905063 $0.04046545
1/19/21	1/20/21	$11.83 (Inv) $11.82 (Inst)	$0.02991434 $0.03150591	- -	- -	$0.02991434 $0.03150591

2020▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/20	12/18/20	$11.67 (Inv) $11.66 (Inst)	$0.06261344 $0.05709464	$0.00337 $0.00337	- -	$0.06598344 $0.06046464
11/17/20	11/18/20	$11.36 (Inv) $11.34 (Inst)	$0.03841134 $0.03976065	- -	- -	$0.03841134 $0.03976065
10/19/20	10/20/20	$11.18 (Inv) $11.17 (Inst)	$0.04582894 $0.04731359	- -	- -	$0.04582894 $0.04731359
9/17/20	9/18/20	$11.13 (Inv) $11.11 (Inst)	$0.03853089 $0.03995890	- -	- -	$0.03853089 $0.03995890
8/17/20	8/18/20	$11.05 (Inv) $11.04 (Inst)	$0.03552847 $0.0369217	- -	- -	$0.03552847 $0.0369217
7/17/20	7/20/20	$10.74 (Inv) $10.72 (Inst)	$0.03443835 $0.03707609	- -	- -	$0.03443835 $0.03707609
6/17/20	6/18/20	$10.71 (Inv) $10.69 (Inst)	$0.03298246 $0.03762718	- -	- -	$0.03298246 $0.03762718
5/18/20	5/19/20	$10.11 (Inv) $10.10 (Inst)	$0.06052835 $0.06238986	- -	- -	$0.06052835 $0.06238986
4/17/20	4/20/20	$10.07 (Inv) $10.06 (Inst)	$0.02440948 $0.02566136	- -	- -	$0.02440948 $0.02566136
3/17/20	3/18/20	$9.46 (Inv) $9.45 (Inst)	$0.02418153 $0.02551335	- -	- -	$0.02418153 $0.02551335
2/18/20	2/19/20	$11.30 (Inv) $11.29 (Inst)	$0.04216331 $0.04290937	- -	- -	$0.04216331 $0.04290937
1/17/20	1/21/20	$11.27 (Inv) $11.26 (Inst)	$0.03963858 $0.04127700	- -	- -	$0.03963858 $0.04127700

2019▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gains	Long-Term Capital Gains	Distribution Total
12/17/19	12/18/19	$11.16 (Inv) $11.15 (Inst)	$0.04259272 $0.04461115	- -	- -	$0.04259272 $0.04461115
11/18/19	11/19/19	$11.03 (Inv) $11.02 (Inst)	$0.03752353 $0.03899948	- -	- -	$0.03752353 $0.03899948
10/17/19	10/18/19	$11.01 (Inv) $11.00 (Inst)	$0.03708550 $0.03846689	- -	- -	$0.03708550 $0.03846689
9/17/19	9/18/19	$11.03 (Inv) $11.04 (Inst)	$0.03462122 $0.03593629	- -	- -	$0.03462122 $0.03593629
8/19/19	8/20/19	$10.94 (Inv) $10.93 (Inst)	$0.04128776 $0.04288482	- -	- -	$0.04128776 $0.04288482
7/17/19	7/18/19	$11.00 (Inv) $10.99 (Inst)	$0.03927396 $0.04019933	- -	- -	$0.03927396 $0.04019933
6/17/19	6/18/19	$10.96	$0.03958964	-	-	$0.03958964
5/17/19	5/20/19	$10.94	$0.03906566	-	-	$0.03906566
4/17/19	4/18/19	$10.92	$0.04307389	-	-	$0.04307389
3/18/19	3/19/19	$10.82	$0.02822349	-	-	$0.02822349
2/19/19	2/20/19	$10.75	$0.04499921	-	-	$0.04499921
1/17/19	1/18/19	$10.64	$0.04556244	-	-	$0.04556244

2018▼

Record Date	Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/17/18	12/18/18	$10.56	$0.05134133	-	$0.03373	$0.08507133
11/19/18	11/20/18	$10.70	$0.04761449	-	-	$0.04761449
10/17/18	10/18/18	$10.91	$0.04352845	-	-	$0.04352845
9/17/18	9/18/18	$11.03	$0.04311381	-	-	$0.04311381
8/17/18	8/18/18	$10.99	$0.04221328	-	-	$0.04221328
7/17/18	7/18/18	$10.98	$0.04102382	-	-	$0.04102382
6/18/18	6/19/18	$10.98	$0.04384928	-	-	$0.04384928
5/17/18	5/18/18	$10.96	$0.03754385	-	-	$0.03754385
4/17/18	4/18/18	$11.04	$0.04513687	-	-	$0.04513687
3/19/18	3/20/18	$11.05	$0.02812855	-	-	$0.02812855
2/20/18	2/21/18	$11.10	$0.04074117	-	-	$0.04074117
1/17/18	1/18/18	$11.22	$0.04091150	-	-	$0.04091150

2017▼

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/19/2017	$11.19	$0.04667068	$0.02005	$0.03491	$0.10163068
11/20/2017	$11.23	$0.03716623	-	-	$0.03716623
10/18/2017	$11.29	$0.03688129	-	-	$0.03688129
9/19/2017	$11.25	$0.03940189	-	-	$0.03940189
8/18/2017	$11.20	$0.03774094	-	-	$0.03774094
7/18/2017	$11.27	$0.03495672	-	-	$0.03495672
6/20/2017	$11.24	$0.04031025	-	-	$0.04031025
5/18/2017	$11.22	$0.03884927	-	-	$0.03884927
4/18/2017	$11.19	$0.04855996	-	-	$0.04855996
3/20/2017	$11.18	$0.02326518	-	-	$0.02326518
2/21/2017	$11.23	$0.03529321	-	-	$0.03529321
1/18/2017	$11.15	$0.03783040	-	-	$0.03783040

2016▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/20/2016	$11.06	$0.05828912	-	$0.05828912	$0.25704	$0.31532912
11/18/2016	$11.24	$0.04280003	-	$0.04280003	-	$0.04280003
10/18/2016	$11.37	$0.04205151	-	$0.04205151	-	$0.04205151
9/20/2016	$11.35	$0.04065901	-	$0.04065901	-	$0.04065901
8/18/2016	$11.39	$0.03929546	-	$0.03929546	-	$0.03929546
7/19/2016	$11.32	$0.04322461	-	$0.04322461	-	$0.04322461
6/20/2016	$11.17	$0.04944737	-	$0.04944737	-	$0.04944737
5/18/2016	$11.14	$0.03902881	-	$0.03902881	-	$0.03902881
4/19/2016	$11.16	$0.02437108	-	$0.02437108	-	$0.02437108
3/18/2016	$11.01	$0.04049211	-	$0.04049211	-	$0.04049211
2/18/2016	$10.79	$0.03234546	-	$0.03234546	-	$0.03234546
1/20/2016	$10.80	$0.03265162	-	$0.03265162	-	$0.03265162

2015▼

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2015	$11.06	$0.02928413	-	$0.02928413	$0.16870	$0.19798413
11/18/2015	$11.44	$0.03016927	-	$0.03016927	-	$0.03016927
10/20/2015	$11.49	$0.04197315	-	$0.04197315	-	$0.04197315
9/18/2015	$11.56	$0.03627685	-	$0.03627685	-	$0.03627685
8/18/2015	$11.65	$0.03200440	-	$0.03200440	-	$0.03200440
7/20/2015	$11.75	$0.04277451	-	$0.04277451	-	$0.04277451
6/18/2015	$11.81	$0.03610808	-	$0.03610808	-	$0.03610808
5/19/2015	$11.72	$0.03978533	-	$0.03978533	-	$0.03978533
4/20/2015	$11.72	$0.06110862	-	$0.06110862	-	$0.06110862
3/18/2015	$11.64	$0.01481249	-	$0.01481249	-	$0.01481249
2/18/2015	$11.58	$0.04037264	-	$0.04037264	-	$0.04037264
1/21/2015	$11.39	$0.03812560	-	$0.03812560	-	$0.03812560

2014▼

2013▼

2012▼

2011▼

2010▼

2009▼

2008▼

2007▼

2006▼

2005▼

2004▼

2003▼

2002▼

2001▼

2000▼

1999▼

1998▼

1997▼

1996▼

1995▼

International Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/20/2021	$22.56 (Inv) $22.57 (Inst)	$0.01931970 $0.05124724	- -	- -	$0.01931970 $0.05124724
12/3/2021	$22.48 (Inv) $22.52 (Inst)	- -	- -	$0.26113 $0.26113	$0.26113 $0.26113
12/18/2020	$19.94 (Inv) $19.94 (Inst)	$0.05358933 $0.07700258	- -	$0.00243 $0.00243	$0.05602 $0.07943
12/18/2019	$16.71 (Inv) $16.71 (Inst)	$0.09658720 $0.10875891	- -	- -	$0.09659 $0.10876
12/18/2018	$13.29	$0.07689330	-	$0.24406	$0.32095330
12/19/2017	$14.83	$0.04372743	-	$0.00987	$0.05359743
12/20/2016	$11.40	$0.11967161	-	-	$0.11967161
12/18/2015	$11.16	$0.04917041	-	-	$0.04917041
1/2/2015	$11.39	$0.00898943	-	-	$0.00898943
12/18/2014	$11.51	$0.06099474	-	-	$0.06099474
12/18/2013	$11.42	$0.02100800	-	-	$0.02100800
12/18/2012	$9.85	$0.04132905	-	-	$0.04132905
12/20/2011	$8.22	$0.04747890	-	-	$0.04747890
12/20/2010	$9.52	$0.04739330	-	-	$0.04739330
12/18/2009	$8.39	$0.05949379	-	-	$0.05949379

Large Cap Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/3/2021	$42.82 (Inv) $42.97 (Inst)	- -	$0.58344 $0.58344	$10.86333 $10.86333	$11.44677 $11.44677
12/18/2020	$44.39 (Inv) $44.45 (Inst)	$0.06364187 $0.11123376	- -	- -	$0.06364 $0.11123
12/18/2019	$34.52 (Inv) $34.55 (Inst)	$0.06661307 $0.06661307	$0.19301 $0.19301	$0.23771 $0.23771	$0.49733 $0.49733
12/18/2018	$27.28	$0.11071320	$0.23096	$1.27526	$1.61693
12/19/2017	$29.21	$0.04073177	$0.59814	$0.90750	$1.54637
12/20/2016	$24.85	$0.12945793	-	$0.68562	$0.81508
12/18/2015	$23.19	$0.03755841	$0.35078	$1.22767	$1.61601
12/18/2014	$23.59	$0.04829253	$0.75190	$2.00614	$2.80633
12/18/2013	$22.93	$0.08402260	$0.00793	$3.45779	$3.54974
12/18/2012	$20.48	$0.14733181	-	$1.41481	$1.56214
12/20/2011	$18.47	$0.03749914	-	$0.12032	$0.15782
12/20/2010	$19.84	$0.06162226	-	-	$0.06162
12/18/2009	$17.23	$0.03602111	-	-	$0.03602
12/18/2008	$11.52	$0.00052069	-	-	$0.00052
12/18/2007	$21.57	-	-	$0.34569	$0.34569

Mid Cap Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/3/2021	$18.55 (Inv) $18.63 (Inst)	- -	$0.43351 $0.43351	$1.82418 $1.82418	$2.25769 $2.25769
12/18/2020	$19.04 (Inv) $19.09 (Inst)	- -	$0.13801 $0.13801	$1.19475 $1.19475	$1.33276 $1.33276
12/18/2019	$15.21 (Inv) $15.22 (Inst)	- -	- -	$1.26265 $1.26265	$1.26265 $1.26265
12/18/2018	$12.16	-	-	$0.54034	$0.54034
12/19/2017	$13.63	-	$0.81281	$2.61912	$3.43193
12/20/2016	$15.28	-	$0.07465	$1.19800	$1.27265
12/18/2015	$15.12	-	-	$2.00198	$2.00198
12/18/2014	$17.38	-	-	$2.41814	$2.41814
12/18/2013	$18.34	-	$0.15802	$2.92247	$3.08049
12/18/2012	$17.05	$0.01320027	-	$0.79339	$0.80659
12/20/2011	$15.36	-	-	$0.31966	$0.31966
12/18/2007	$15.32	-	$0.10022	$1.11903	$1.21925
12/19/2006	$15.01	-	$0.00239	$0.29034	$0.29273
12/20/2005	$14.35	-	$0.07202	$0.15250	$0.22452
12/20/2004	$12.56	-	$0.04892	$0.10853	$0.15745

Small Cap Fund

2022 Distribution Dates:
Capital Gains, if any – Record Date (12/2/22); Payment Date (12/5/22) Net Investment Income, if any – Record Date (12/19/22); Payment Date (12/20/22)

Payable Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Long-Term Capital Gains	Distribution Total
12/3/2021	$18.27 (Inv) $18.35 (Inst)	- -	$0.94945 $0.94945	$1.63799 $1.63799	$2.58744 $2.58744
12/18/2020	$20.63 (Inv) $20.68 (Inst)	- -	$1.00358 $1.00358	$0.87288 $0.87288	$1.87646 $1.87646
12/18/2019	$13.59 (Inv) $13.60 (Inst)	- -	- -	$1.24842 $1.24842	$1.24842 $1.24842
12/18/2018	$10.74	-	$0.08214	$3.19956	$3.28170
12/19/2017	$14.67	-	$0.39899	$4.04335	$4.44234
12/20/2016	$15.31	-	$0.69997	$3.08636	$3.78633
12/18/2015	$17.42	-	-	$12.38628	$12.38628
12/18/2014	$31.56	-	-	$3.26196	$3.26196
12/18/2013	$36.31	-	$0.39542	$2.80163	$3.19705
12/18/2012	$28.07	-	$0.26576	$1.45619	$1.72195
12/20/2011	$24.98	-	-	$0.05742	$0.05742
12/18/2009	$22.00	$0.02683352	-	-	$0.02683
12/18/2007	$23.94	-	$0.27699	$2.37972	$2.65671
12/19/2006	$26.77	-	-	$2.03706	$2.03706
12/20/2005	$25.50	-	$0.17140	$2.93558	$3.10698
12/20/2004	$26.83	-	$0.45605	$0.42046	$0.87651
12/18/2003	$21.81	-	-	$0.19938	$0.19938
12/26/2001	$19.36	-	-	$0.03050	$0.03050
12/27/2000	$13.99	-	$0.23000	$1.44000	$1.67000
12/23/1999	$12.15	-	$0.21000	-	$0.21000
12/23/1998	$9.27	$0.04000000	-	-	$0.04000

Literature & Forms

Fund	Symbol Inv / Inst	Fact Sheet	Quarterly Commentary	Full Holdings	Summary Prospectus
DISCOVERY	BUFTX / BUITX
DIVIDEND FOCUS	BUFDX / BUIDX
EARLY STAGE GROWTH	BUFOX / BUIOX
FLEXIBLE INCOME	BUFBX / BUIBX
GROWTH	BUFGX / BIIGX
HIGH YIELD	BUFHX / BUIHX
INTERNATIONAL	BUFIX / BUIIX
LARGE CAP	BUFEX / BUIEX
MID CAP	BUFMX / BUIMX
SMALL CAP	BUFSX / BUISX

The following documents apply to all Buffalo Funds:

Prospectus
Annual Report
Semi-Annual Report
Statement of Additional Information
Schedules of Investments (6/30/21)
Schedules of Investments (12/31/20)

General Account Forms	Investor Class	Institutional Class	Both
New Account Application
New Account Application - Entity
Change or Add Account Details
Cost Basis Method Election
Power of Attorney
Individual Retirement Account (IRA) Forms
IRA Account Application
IRA Beneficiary Addition / Change
IRA Required Minimum Distribution (RMD)
IRA / Qualified Plan Distribution Request
IRA Transfer
Coverdell Education Savings Accounts (ESA) Forms
Coverdell ESA Application
Coverdell ESA Distribution Request
Coverdell ESA Transfer
Retirement Information
Retirement Savings Options for Individuals



Fundamental Approach

We get to know the companies we invest in and learn how they run their business.



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

Sticking to our disciplined investment strategy ensures we maintain a consistent, balanced approach.

Distribution Date	Distribution NAV	Net Investment Income	Short-Term Capital Gain	Total Ordinary	Long-Term Capital Gains	Distribution Total
12/18/2014	$11.41	$0.06231962	$0.01584	$0.06231962	$0.10254	$0.18069962
11/18/2014	$11.74	$0.03563879	-	$0.03563879	-	$0.03563879
10/20/2014	$11.56	$0.03960749	-	$0.03960749	-	$0.03960749
9/18/2014	$11.84	$0.03401317	-	$0.03401317	-	$0.03401317
8/19/2014	$11.85	$0.03216201	-	$0.03216201	-	$0.03216201
7/18/2014	$11.87	$0.03835741	-	$0.03835741	-	$0.03835741
6/18/2014	$11.90	$0.03163950	-	$0.03163950	-	$0.03163950
5/20/2014	$11.80	$0.03271604	-	$0.03271604	-	$0.03271604
4/21/2014	$11.82	$0.02047511	-	$0.02047511	-	$0.02047511
3/18/2014	$11.89	$0.02872485	-	$0.02872485	-	$0.02872485
2/19/2014	$11.82	$0.02781001	-	$0.02781001	-	$0.02781001
1/21/2014	$11.81	$0.02713863	-	$0.02713863	-	$0.02713863

Our Funds

Performance & Pricing

Investor Class Shares

Institutional Class Shares

Featured Insights

Ratings & Rankings

Morningstar Rating™

Morningstar Sustainability Rating™

Morningstar Low Carbon Designation™

Dividends & Distributions

Discovery Fund

Dividend Focus Fund

Early Stage Growth Fund

Flexible Income Fund

Growth Fund

High Yield Fund

International Fund

Large Cap Fund

Mid Cap Fund

Small Cap Fund

Literature & Forms

Fundamental Approach

Top-Down & Bottom-Up

Proprietary Philosophy

Disciplined Investing

Sign Up for Automatic Updates

FOR FINANCIAL PROFESSIONALS

FOR INDIVIDUAL INVESTORS