# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0001145549-25-051751
**Filing Date:** 2025-8
**Character Count:** 32295
**Document Hash:** 39dda1fc36335ddba922691acae35a6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-051751.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001145549-25-051751

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**DATE AS OF CHANGE**: 20250819

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BUFFALO FUNDS
- **CENTRAL INDEX KEY:** 0001135300

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10303
- **FILM NUMBER:** 251231547

**BUSINESS ADDRESS:**
- **STREET 1:** KORNITZER CAPITAL MANAGEMENT, INC.
- **STREET 2:** 5420 WEST 61ST PLACE
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66205
- **BUSINESS PHONE:** 9136777778

**MAIL ADDRESS:**
- **STREET 1:** KORNITZER CAPITAL MANAGEMENT, INC.
- **STREET 2:** 5420 WEST 61ST PLACE
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66205

## Series and Classes Contracts Data

### Buffalo Mid Cap Growth Fund (Series ID: S000006556)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000017895 | Investor Class      | BUFMX           |
| C000214588 | Institutional Class | BUIMX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Buffalo Mid Cap Growth Fund** | **Buffalo Mid Cap Growth Fund** | **Buffalo Mid Cap Growth Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.0%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 8.1%** | **<u>Communication Services</u> - 8.1%** | |
| **Entertainment - 5.8%** | | |
| Liberty Media Corp.-Liberty Formula One - Class A <sup>(a)</sup> | 36529 | $3468794 |
| Live Nation Entertainment, Inc. <sup>(a)</sup> | 23000 | 3479440 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup> | 6000 | 1457100 |
|  |  | 8405334 |
| **Interactive Media & Services - 1.4%** |  |  |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 58202 | 2087124 |
|  |  | $– |
| **Media - 0.9%** |  |  |
| DoubleVerify Holdings, Inc. <sup>(a)</sup> | 82000 | 1227540 |
| **Total Communication Services** | **Total Communication Services** | 11719998 |
| **<u>Consumer Discretionary</u> - 4.5%** | **<u>Consumer Discretionary</u> - 4.5%** |  |
| **Hotels, Restaurants & Leisure - 1.8%** |  |  |
| Vail Resorts, Inc. | 10746 | 1688519 |
| Wingstop, Inc. | 2500 | 841850 |
|  |  | 2530369 |
| **Specialty Retail - 0.9%** |  |  |
| CarMax, Inc. <sup>(a)</sup> | 20000 | 1344200 |
|  |  | $– |
| **Textiles, Apparel & Luxury Goods - 1.8%** |  |  |
| Birkenstock Holding PLC <sup>(a)</sup> | 30000 | 1475400 |
| lululemon athletica, Inc. <sup>(a)</sup> | 4845 | 1151075 |
|  |  | 2626475 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | 6501044 |
| **<u>Consumer Staples</u> - 1.8%** | **<u>Consumer Staples</u> - 1.8%** |  |
| **Personal Care Products - 1.8%** |  |  |
| elf Beauty, Inc. <sup>(a)</sup> | 21517 | 2677575 |
| **<u>Financials</u> - 9.1%** | **<u>Financials</u> - 9.1%** |  |
| **Capital Markets - 6.5%** |  |  |
| MarketAxess Holdings, Inc. | 6225 | 1390291 |
| Moody's Corp. | 3500 | 1755565 |
| MSCI, Inc. | 10816 | 6238020 |
|  |  | 9383876 |
| **Insurance - 2.6%** |  |  |
| Kinsale Capital Group, Inc. | 7900 | 3822810 |
| **Total Financials** | **Total Financials** | 13206686 |
| **<u>Health Care</u> - 14.4%** | **<u>Health Care</u> - 14.4%** |  |
| **Health Care Equipment & Supplies - 0.3%** |  |  |
| DexCom, Inc. <sup>(a)</sup> | 4556 | 397693 |
|  |  | $– |
| **Health Care Providers & Services - 4.7%** |  |  |
| Cardinal Health, Inc. | 9000 | 1512000 |
| Cencora, Inc. | 4735 | 1419790 |
| Encompass Health Corp. | 18000 | 2207340 |
| Progyny, Inc. <sup>(a)</sup> | 74300 | 1634600 |
|  |  | 6773730 |
| **Health Care Technology - 3.9%** |  |  |
| Veeva Systems, Inc. - Class A <sup>(a)</sup> | 19850 | 5716403 |
|  |  | $– |
| **Life Sciences Tools & Services - 5.5%** |  |  |
| Bio-Rad Laboratories, Inc. - Class A <sup>(a)</sup> | 6130 | 1479292 |
| Bio-Techne Corp. | 34800 | 1790460 |
| IQVIA Holdings, Inc. <sup>(a)</sup> | 10600 | 1670454 |
| Mettler-Toledo International, Inc. <sup>(a)</sup> | 2550 | 2995536 |
|  |  | 7935742 |
| **Total Health Care** | **Total Health Care** | 20823568 |
| **<u>Industrials</u> - 26.3%<sup>(b)</sup>** | **<u>Industrials</u> - 26.3%<sup>(b)</sup>** |  |
| **Aerospace & Defense - 2.0%** |  |  |
| TransDigm Group, Inc. | 1900 | 2889216 |
|  |  | $– |
| **Commercial Services & Supplies - 4.9%** |  |  |
| Copart, Inc. <sup>(a)</sup> | 84000 | 4121880 |
| RB Global, Inc. | 27660 | 2937215 |
|  |  | 7059095 |
| **Construction & Engineering - 1.7%** |  |  |
| AECOM | 21800 | 2460348 |
|  |  | $– |
| **Electrical Equipment - 5.5%** |  |  |
| AMETEK, Inc. | 23255 | 4208225 |
| Vertiv Holdings Co. - Class A | 29432 | 3779363 |
|  |  | 7987588 |
| **Professional Services - 10.3%** |  |  |
| Equifax, Inc. | 9100 | 2360267 |
| SS&C Technologies Holdings, Inc. | 34289 | 2839129 |
| TransUnion | 43000 | 3784000 |
| Verisk Analytics, Inc. | 19053 | 5935010 |
|  |  | 14918406 |
| **Trading Companies & Distributors - 1.9%** |  |  |
| Ferguson Enterprises, Inc. | 12265 | 2670704 |
| **Total Industrials** | **Total Industrials** | 37985357 |
| **<u>Information Technology</u> - 19.2%** | **<u>Information Technology</u> - 19.2%** |  |
| **IT Services - 4.4%** |  |  |
| Gartner, Inc. <sup>(a)</sup> | 10800 | 4365576 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 9000 | 2013930 |
|  |  | 6379506 |
| **Semiconductors & Semiconductor Equipment - 1.6%** |  |  |
| ON Semiconductor Corp. <sup>(a)</sup> | 43310 | 2269877 |
|  |  | $– |
| **Software - 13.2%** |  |  |
| CyberArk Software Ltd. <sup>(a)</sup> | 5475 | 2227668 |
| Fair Isaac Corp. <sup>(a)</sup> | 890 | 1626884 |
| Guidewire Software, Inc. <sup>(a)</sup> | 11200 | 2637040 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 7400 | 1461278 |
| Procore Technologies, Inc. <sup>(a)</sup> | 43800 | 2996796 |
| PTC, Inc. <sup>(a)</sup> | 16000 | 2757440 |
| Tyler Technologies, Inc. <sup>(a)</sup> | 4100 | 2430644 |
| Varonis Systems, Inc. <sup>(a)</sup> | 58500 | 2968875 |
|  |  | 19106625 |
| **Total Information Technology** | **Total Information Technology** | 27756008 |
| **<u>Materials</u> - 2.7%** | **<u>Materials</u> - 2.7%** |  |
| **Chemicals - 0.8%** |  |  |
| Element Solutions, Inc. | 52500 | 1189125 |
|  |  | $– |
| **Construction Materials - 1.9%** |  |  |
| Martin Marietta Materials, Inc. | 5000 | 2744800 |
| **Total Materials** | **Total Materials** | 3933925 |
| **<u>Real Estate</u> - 6.7%** | **<u>Real Estate</u> - 6.7%** |  |
| **Real Estate Management & Development - 6.7%** |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 44000 | 6165280 |
| CoStar Group, Inc. <sup>(a)</sup> | 44000 | 3537600 |
| **Total Real Estate** | **Total Real Estate** | 9702880 |
| **<u>Utilities</u> - 3.2%** | **<u>Utilities</u> - 3.2%** |  |
| **Independent Power and Renewable Electricity Producers - 3.2%** |  |  |
| Vistra Corp. | 23750 | 4602988 |
| **TOTAL COMMON STOCKS** (Cost $75,791,451) | **TOTAL COMMON STOCKS** (Cost $75,791,451) | 138910029 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.1%** | **Shares** | **Value**  |
| **<u>Real Estate</u> - 1.1%** | **<u>Real Estate</u> - 1.1%** |  |
| **Health Care REITs - 1.1%** |  |  |
| Welltower, Inc. | 10000 | 1537300 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $667,286) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $667,286) | 1537300 |
| **SHORT-TERM INVESTMENTS - 2.9%** | **Shares** | **Value**  |
| **Money Market Funds - 2.9%** |  |  |
| Fidelity Money Market Government Portfolio - Class I, 4.23% <sup>(c)</sup> | 4254548 | 4254548 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $4,254,548) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $4,254,548) | 4254548 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $80,713,285**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $80,713,285**)** | 144701877 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(d)</sup> | Liabilities in Excess of Other Assets - (0.0)% <sup>(d)</sup> | (45507) |
| **TOTAL NET ASSETS - 100.0%** |  | $144656370 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

(b) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those
 industries or sectors.

(c) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

(d) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Buffalo Mid Cap Growth Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $138910029 | $– | $– | $138910029 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 1537300 | – | – | 1537300 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 4254548 | – | – | 4254548 |
| Total Investments | $144701877 | $– | $– | $144701877 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Buffalo Funds

- **b. Investment Company Act file number:** 811-10303

- **c. CIK number of Registrant:** 0001135300

- **d. LEI of Registrant:** 2549004OPHDSAY1EO405

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 5420 West 61st Place

  - **City:** Mission

  - **State:** KS

  - **Foreign country:** US

  - **Zip / Postal Code:** 66205

  - **Telephone number:** 913-677-7778

**Item A.2. Information about the Series.**

- **a. Name of Series:** Buffalo Mid Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000006556

- **c. LEI of Series:** 254900B7PLHHEGUAVX29

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $144775445.35

**Total Liabilities:** $122896.92

**Net Assets:** $144652548.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017895 | -0.58%               | 5.74%                | 4.33%                |
| Class ID C000214588 | -0.63%               | 5.75%                | 4.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $476316.07               | $-1253143.38                               |
| Month 2  | $1757208.33              | $5907654.88                                |
| Month 3  | $-1350707.71             | $7455439.41                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Verisk Analytics Inc           | Verisk Analytics Inc                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     19053 | NS      | $5935009.50   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Birkenstock Holding Plc        | Birkenstock Holding Plc                | CUSIP: N/A<br>LEI: 529900CQ8LQKQ7LIT631       | Long             | EC               | CORP              | GB        |     30000 | NS      | $1475400.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                            | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     23750 | NS      | $4602987.50   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                     | Dexcom Inc                             | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      4556 | NS      | $397693.24    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     18000 | NS      | $2207340.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment Inc  | Live Nation Entertainment Inc          | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     23000 | NS      | $3479440.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc          | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      5000 | NS      | $2744800.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      3500 | NS      | $1755565.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                  | RB Global Inc                          | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | US        |     27660 | NS      | $2937215.40   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                          | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     10000 | NS      | $1537300.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc      | DoubleVerify Holdings Inc              | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82000 | NS      | $1227540.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio          | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   4254548 | NS      | $4254547.86   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp                  | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     43310 | NS      | $2269877.10   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                       | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     10746 | NS      | $1688518.98   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                          | AECOM                                  | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     21800 | NS      | $2460348.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd          | CyberArk Software Ltd                  | CUSIP: N/A<br>LEI: 529900YEXNDM894PWS93       | Long             | EC               | CORP              | IL        |      5475 | NS      | $2227668.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                         | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     44000 | NS      | $6165280.00   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart Inc                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     84000 | NS      | $4121880.00   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| elf Beauty Inc                 | elf Beauty Inc                         | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     21517 | NS      | $2677575.48   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc         | Guidewire Software Inc                 | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     11200 | NS      | $2637040.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc             | IQVIA Holdings Inc                     | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     10600 | NS      | $1670454.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group Inc              | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      7900 | NS      | $3822810.00   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty For | Liberty Media Corp-Liberty Formula One | CUSIP: 531229771<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36529 | NS      | $3468793.84   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc        | Lululemon Athletica Inc                | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |      4845 | NS      | $1151075.10   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International I | Mettler-Toledo International Inc       | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      2550 | NS      | $2995536.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                  | Pinterest Inc                          | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58202 | NS      | $2087123.72   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                    | Progyny Inc                            | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74300 | NS      | $1634600.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc | SS&C Technologies Holdings Inc         | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     34289 | NS      | $2839129.20   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                  | Snowflake Inc                          | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      9000 | NS      | $2013930.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1900 | NS      | $2889216.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                     | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     29432 | NS      | $3779363.12   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora Inc                            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      4735 | NS      | $1419789.75   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                        | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     34800 | NS      | $1790460.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health Inc                    | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      9000 | NS      | $1512000.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                       | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     44000 | NS      | $3537600.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc               | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      6225 | NS      | $1390291.50   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                        | PTC Inc                                | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     16000 | NS      | $2757440.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc       | Procore Technologies Inc               | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     43800 | NS      | $2996796.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software Inc      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      6000 | NS      | $1457100.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc         | Tyler Technologies Inc                 | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      4100 | NS      | $2430644.00   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                     | TransUnion                             | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     43000 | NS      | $3784000.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc            | Varonis Systems Inc                    | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |     58500 | NS      | $2968875.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop Inc                           | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      2500 | NS      | $841850.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                     | CarMax Inc                             | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $1344200.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                     | AMETEK Inc                             | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     23255 | NS      | $4208224.80   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc       | Bio-Rad Laboratories Inc               | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      6130 | NS      | $1479291.60   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc          | Element Solutions Inc                  | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |     52500 | NS      | $1189125.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                            | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      9100 | NS      | $2360267.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                | Fair Isaac Corp                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       890 | NS      | $1626884.40   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc       | Ferguson Enterprises Inc               | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     12265 | NS      | $2670703.75   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                    | Gartner Inc                            | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     10800 | NS      | $4365576.00   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                               | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |     10816 | NS      | $6238019.84   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc       | Manhattan Associates Inc               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      7400 | NS      | $1461278.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems Inc                      | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     19850 | NS      | $5716403.00   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-19

**Name of Applicant:** Buffalo Funds

**Signature:** /s/ Laura Symon Browne

**Name of Signer:** Laura Symon Browne

**Title:** President and Treasurer