Our Team


B.S. – University of Iowa (Business)


Antares Capital
LaSalle National Bank

Paul Dlugosch, CFA

Portfolio Manager

Paul joined the Buffalo Funds in 2002 and has 22 years of professional investment experience. Previously Paul worked at Antares Capital as an associate and at LaSalle National Bank as an analyst.

At the Buffalo Funds, Paul works with equity and fixed income portfolios.

Paul received a B.S. from the University of Iowa. He also holds the Chartered Financial Analyst designation.

Years of Experience

Years at Buffalo Funds


Dividend Focus Fund

Dividend Focus Fund

Total Assets $60.54 Million  (9/30/19)
Expense Ratio 0.96% / 0.81%
Benchmark Morningstar U.S. Large-Mid Cap

Dividend Focus (Since 2013)

Flexible Income Fund

Flexible Income Fund

Total Assets $581.82 Million  (9/30/19)
Expense Ratio 1.01% / 0.86%
Benchmark 60% Morningstar U.S. Large Cap / 40% ICE BofAML U.S. High Yield

Flexible Income (Since 2011)

High Yield Fund

High Yield Fund

Total Assets $201.38 Million  (9/30/19)
Expense Ratio 1.02% / 0.87%
Benchmark ICE BofAML U.S. High Yield

High Yield (Since 2007)

Recent Articles

Media coverage regarding the Portfolio Manager, Funds Managed, and the Buffalo Funds in general.

“Industry Perspectives” 3Q 2019

Equity markets produced a significant reversal in the 1st quarter of 2019 following one of the worst periods of performance to close out 2018. Much of the reversal in market sentiment was a result of the change in the Federal Reserve’s (the Fed) policies, providing a more growth-friendly backdrop, combined with the anticipation that a U.S. – China trade deal is imminent.

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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.