# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0000894189-25-014249
**Filing Date:** 2025-11
**Character Count:** 18000
**Document Hash:** 071fa139205e4e62511678553ab5d0f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-014249.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0000894189-25-014249

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**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:** 251508101

**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 Flexible Allocation Fund (Series ID: S000022450)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000064611 | Investor Class      | BUFBX           |
| C000214591 | Institutional Class | BUIBX           |

## 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 Flexible Allocation Fund

- **b. EDGAR series identifier (if any):** S000022450

- **c. LEI of Series:** 254900G1XFV0LTHHIR76

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $454710701.92

**Total Liabilities:** $423441.39

**Net Assets:** $454287260.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064611 | -0.14%               | 2.23%                | 1.26%                |
| Class ID C000214591 | -0.13%               | 2.24%                | 1.28%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $957907.05               | $-2011509.26                               |
| Month 2  | $4383111.26              | $4428007.91                                |
| Month 3  | $1890629.34              | $3324338.93                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Mills Inc             | General Mills Inc                    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |    150000 | NS      | $7563000.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc           | Gilead Sciences Inc                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     80000 | NS      | $8880000.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp              | HF Sinclair Corp                     | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     72500 | NS      | $3794650.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                           | International Business Machines Corp | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     70000 | NS      | $19751200.00  | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                   | PepsiCo Inc                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     75000 | NS      | $10533000.00  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                       | ABB Ltd                              | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     45000 | NS      | $3237750.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                      | AT&T Inc                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    100000 | NS      | $2824000.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories           | Abbott Laboratories                  | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     70000 | NS      | $9375800.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The             | Allstate Corp/The                    | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     80000 | NS      | $17172000.00  | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                      | APA Corp                             | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    400000 | NS      | $9712000.00   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                  | Chevron Corp                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    225000 | NS      | $34940250.00  | 7.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc             | Cisco Systems Inc                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    175000 | NS      | $11973500.00  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                 | Clorox Co/The                        | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     50000 | NS      | $6165000.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The              | Coca-Cola Co/The                     | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    140000 | NS      | $9284800.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co          | Colgate-Palmolive Co                 | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     25000 | NS      | $1998500.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc            | Conagra Brands Inc                   | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |    100000 | NS      | $1831000.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                | ConocoPhillips                       | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    150000 | NS      | $14188500.00  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co       | Arthur J Gallagher & Co              | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     50000 | NS      | $15487000.00  | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                    | Pfizer Inc                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    250000 | NS      | $6370000.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes Inc              | Pitney Bowes Inc                     | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |    216971 | NS      | $2475639.11   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The       | Procter & Gamble Co/The              | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     65000 | NS      | $9987250.00   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                  | QUALCOMM Inc                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     85000 | NS      | $14140600.00  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                 | Rio Tinto PLC                        | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     50000 | NS      | $3300500.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV               | Schlumberger NV                      | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    180000 | NS      | $6186600.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Starz Entertainment Corp      | Starz Entertainment Corp             | CUSIP: 855919106<br>LEI: 5493000JSMHPHZURLM72 | Long             | EC               | CORP              | US        |     22600 | NS      | $332898.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp         | Truist Financial Corp                | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    200000 | NS      | $9144000.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc    | Verizon Communications Inc           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    225000 | NS      | $9888750.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc          | Waste Management Inc                 | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     50000 | NS      | $11041500.00  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp         | Costco Wholesale Corp                | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     20000 | NS      | $18512600.00  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek Logistics Partners LP   | Delek Logistics Partners LP          | CUSIP: 24664T103<br>LEI: 549300UVYITDIU51P724 | Long             | EC               | CORP              | US        |    140000 | NS      | $6375600.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc      | Digital Realty Trust Inc             | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     85000 | NS      | $14694800.00  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                       | Dow Inc                              | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     50000 | NS      | $1146500.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp              | Exxon Mobil Corp                     | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    160000 | NS      | $18040000.00  | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio | Fidelity Government Portfolio        | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1272819 | NS      | $1272818.69   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson             | Johnson & Johnson                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     75000 | NS      | $13906500.00  | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kellanova                     | Kellanova                            | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |      7000 | NS      | $574140.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp           | Kimberly-Clark Corp                  | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     70000 | NS      | $8703800.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc             | Kinder Morgan Inc                    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    560000 | NS      | $15853600.00  | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                | Eli Lilly & Co                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     35000 | NS      | $26705000.00  | 5.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Lionsgate Studios Corp        | Lionsgate Studios Corp               | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    480000 | NS      | $3312000.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp       | Marathon Petroleum Corp              | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     40000 | NS      | $7709600.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                | Merck & Co Inc                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     80000 | NS      | $6714400.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                | Microsoft Corp                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     95000 | NS      | $49205250.00  | 10.83%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                           | Costco Wholesale Corp                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-1550.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                           | Microsoft Corp                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-800.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-21

**Name of Applicant:** Buffalo Funds

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

**Name of Signer:** Laura Symon Browne

**Title:** President and Treasurer