# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0001145549-25-051745
**Filing Date:** 2025-8
**Character Count:** 42811
**Document Hash:** 66ee861017b3733110a8025022f6dafe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-051745.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001145549-25-051745

**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:** 251231541

**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 Blue Chip Growth Fund (Series ID: S000022452)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000064613 | Investor Class      | BUFEX           |
| C000214593 | Institutional Class | BUIEX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Buffalo Blue Chip Growth Fund** | **Buffalo Blue Chip Growth Fund** | **Buffalo Blue Chip 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 - 93.9%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 13.0%** | **<u>Communication Services</u> - 13.0%** | |
| **Entertainment - 3.1%** | | |
| Netflix, Inc. <sup>(a)</sup> | 2900 | $3883477 |
| Spotify Technology SA <sup>(a)</sup> | 1375 | 1055092 |
|  |  | 4938569 |
| **Interactive Media & Services - 9.9%** |  |  |
| Alphabet, Inc. - Class A | 46125 | 8128609 |
| Meta Platforms, Inc. - Class A | 10100 | 7454709 |
|  |  | 15583318 |
| **Total Communication Services** | **Total Communication Services** | 20521887 |
| **<u>Consumer Discretionary</u> - 13.1%** | **<u>Consumer Discretionary</u> - 13.1%** |  |
| **Automobiles - 1.0%** |  |  |
| Tesla, Inc. <sup>(a)</sup> | 4750 | 1508885 |
|  |  | $– |
| **Broadline Retail - 7.7%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 51975 | 11402795 |
| MercadoLibre, Inc. <sup>(a)</sup> | 275 | 718749 |
|  |  | 12121544 |
| **Hotels, Restaurants & Leisure - 1.7%** |  |  |
| Booking Holdings, Inc. | 125 | 723655 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup> | 10475 | 588171 |
| Marriott International, Inc. - Class A | 1950 | 532760 |
| Yum! Brands, Inc. | 5475 | 811285 |
|  |  | 2655871 |
| **Household Durables - 0.3%** |  |  |
| SharkNinja, Inc. <sup>(a)</sup> | 4275 | 423182 |
|  |  | $– |
| **Specialty Retail - 2.0%** |  |  |
| Home Depot, Inc. | 3635 | 1332736 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | 8070 | 727349 |
| Ross Stores, Inc. | 3250 | 414635 |
| TJX Companies, Inc. | 5895 | 727974 |
|  |  | 3202694 |
| **Textiles, Apparel & Luxury Goods - 0.4%** |  |  |
| Birkenstock Holding PLC <sup>(a)</sup> | 13975 | 687291 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | 20599467 |
| **<u>Consumer Staples</u> - 1.6%** | **<u>Consumer Staples</u> - 1.6%** |  |
| **Consumer Staples Distribution & Retail - 1.6%** |  |  |
| Costco Wholesale Corp. | 1475 | 1460161 |
| Walmart, Inc. | 10475 | 1024246 |
| **Total Consumer Staples** | **Total Consumer Staples** | 2484407 |
| **<u>Energy</u> - 1.0%** | **<u>Energy</u> - 1.0%** |  |
| **Oil, Gas & Consumable Fuels - 1.0%** |  |  |
| ConocoPhillips | 6400 | 574336 |
| Exxon Mobil Corp. | 9025 | 972895 |
| **Total Energy** | **Total Energy** | 1547231 |
| **<u>Financials</u> - 6.8%** | **<u>Financials</u> - 6.8%** |  |
| **Banks - 0.6%** |  |  |
| JPMorgan Chase & Co. | 3100 | 898721 |
|  |  | $– |
| **Capital Markets - 0.6%** |  |  |
| S&P Global, Inc. | 1825 | 962304 |
|  |  | $– |
| **Financial Services - 4.7%** |  |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 3575 | 1736628 |
| Mastercard, Inc. - Class A | 5225 | 2936136 |
| Visa, Inc. - Class A | 7615 | 2703706 |
|  |  | 7376470 |
| **Insurance - 0.9%** |  |  |
| Allstate Corp. | 3100 | 624061 |
| Arthur J. Gallagher & Co. | 2775 | 888333 |
|  |  | 1512394 |
| **Total Financials** | **Total Financials** | 10749889 |
| **<u>Health Care</u> - 6.6%** | **<u>Health Care</u> - 6.6%** |  |
| **Biotechnology - 1.2%** |  |  |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup> | 1650 | 538049 |
| Argenx SE - ADR <sup>(a)</sup> | 550 | 303171 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 10270 | 564542 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | 1025 | 456330 |
|  |  | 1862092 |
| **Health Care Equipment & Supplies - 3.0%** |  |  |
| Abbott Laboratories | 11025 | 1499510 |
| Boston Scientific Corp. <sup>(a)</sup> | 11335 | 1217492 |
| Hologic, Inc. <sup>(a)</sup> | 9450 | 615762 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 1150 | 624922 |
| Stryker Corp. | 2175 | 860495 |
|  |  | 4818181 |
| **Life Sciences Tools & Services - 0.4%** |  |  |
| Thermo Fisher Scientific, Inc. | 1495 | 606163 |
|  |  | $– |
| **Pharmaceuticals - 2.0%** |  |  |
| Eli Lilly & Co. | 3190 | 2486701 |
| Johnson & Johnson | 4350 | 664462 |
|  |  | 3151163 |
| **Total Health Care** | **Total Health Care** | 10437599 |
| **<u>Industrials</u> - 6.7%** | **<u>Industrials</u> - 6.7%** |  |
| **Aerospace & Defense - 0.9%** |  |  |
| General Electric Co. | 5570 | 1433662 |
|  |  | $– |
| **Building Products - 0.6%** |  |  |
| Trane Technologies PLC | 2250 | 984173 |
|  |  | $– |
| **Electrical Equipment - 2.3%** |  |  |
| Eaton Corp. PLC | 4000 | 1427960 |
| GE Vernova, Inc. | 2575 | 1362561 |
| Vertiv Holdings Co. - Class A | 5950 | 764040 |
|  |  | 3554561 |
| **Ground Transportation - 1.1%** |  |  |
| Uber Technologies, Inc. <sup>(a)</sup> | 10775 | 1005307 |
| Union Pacific Corp. | 3025 | 695992 |
|  |  | 1701299 |
| **Industrial Conglomerates - 0.6%** |  |  |
| Honeywell International, Inc. | 4075 | 948986 |
|  |  | $– |
| **Machinery - 1.2%** |  |  |
| Westinghouse Air Brake Technologies Corp. | 4875 | 1020581 |
| Xylem, Inc. | 7025 | 908754 |
|  |  | 1929335 |
| **Total Industrials** | **Total Industrials** | 10552016 |
| **<u>Information Technology</u> - 43.2%<sup>(b)</sup>** | **<u>Information Technology</u> - 43.2%<sup>(b)</sup>** |  |
| **Communications Equipment - 0.7%** |  |  |
| Arista Networks, Inc. <sup>(a)</sup> | 10500 | 1074255 |
|  |  | $– |
| **Electronic Equipment, Instruments & Components - 0.9%** |  |  |
| Amphenol Corp. - Class A | 6050 | 597437 |
| Corning, Inc. | 16925 | 890086 |
|  |  | 1487523 |
| **IT Services - 0.6%** |  |  |
| Okta, Inc. <sup>(a)</sup> | 4725 | 472358 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 1900 | 425163 |
|  |  | 897521 |
| **Semiconductors & Semiconductor Equipment - 17.9%** |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 7450 | 1057155 |
| ASML Holding NV - NY Shares | 555 | 444771 |
| Broadcom, Inc. | 17607 | 4853370 |
| KLA Corp. | 765 | 685241 |
| Marvell Technology, Inc. | 6510 | 503874 |
| NVIDIA Corp. | 118925 | 18788961 |
| NXP Semiconductors NV | 2800 | 611772 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 5125 | 1160761 |
|  |  | 28105905 |
| **Software - 15.5%** |  |  |
| Adobe, Inc. <sup>(a)</sup> | 1095 | 423634 |
| AppLovin Corp. - Class A <sup>(a)</sup> | 1225 | 428848 |
| HubSpot, Inc. <sup>(a)</sup> | 1050 | 584462 |
| Intuit, Inc. | 1510 | 1189321 |
| Microsoft Corp. | 33650 | 16737846 |
| Nutanix, Inc. - Class A <sup>(a)</sup> | 7125 | 544635 |
| Oracle Corp. | 6575 | 1437492 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 3485 | 713170 |
| Salesforce, Inc. | 2650 | 722629 |
| ServiceNow, Inc. <sup>(a)</sup> | 845 | 868728 |
| Workday, Inc. - Class A <sup>(a)</sup> | 3210 | 770400 |
|  |  | 24421165 |
| **Technology Hardware, Storage & Peripherals - 7.6%** |  |  |
| Apple, Inc. | 56105 | 11511063 |
| Seagate Technology Holdings PLC | 3100 | 447423 |
|  |  | 11958486 |
| **Total Information Technology** | **Total Information Technology** | 67944855 |
| **<u>Materials</u> - 1.4%** | **<u>Materials</u> - 1.4%** |  |
| **Chemicals - 1.0%** |  |  |
| Ecolab, Inc. | 2600 | 700544 |
| Linde PLC | 1905 | 893788 |
|  |  | 1594332 |
| **Construction Materials - 0.4%** |  |  |
| CRH PLC | 6700 | 615060 |
| **Total Materials** | **Total Materials** | 2209392 |
| **<u>Utilities</u> - 0.5%** | **<u>Utilities</u> - 0.5%** |  |
| **Independent Power and Renewable Electricity Producers - 0.5%** |  |  |
| Vistra Corp. | 4125 | 799466 |
| **TOTAL COMMON STOCKS** (Cost $64,411,760) | **TOTAL COMMON STOCKS** (Cost $64,411,760) | 147846209 |
| **EXCHANGE TRADED FUNDS - 1.0%** | **Shares** | **Value** |
| Consumer Staples Select Sector SPDR Fund | 19775 | 1601182 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $1,626,547) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $1,626,547) | 1601182 |
| **SHORT-TERM INVESTMENTS - 4.9%** | **Shares** | **Value**  |
| **Money Market Funds - 4.9%** |  |  |
| Fidelity Money Market Government Portfolio - Class I, 4.23% <sup>(c)</sup> | 7677911 | 7677911 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,677,911) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,677,911) | 7677911 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $73,716,218**)** | **TOTAL INVESTMENTS - 99.8% (**Cost $73,716,218**)** | 157125302 |
| Other Assets in Excess of Liabilities - 0.2% | Other Assets in Excess of Liabilities - 0.2% | 368945 |
| **TOTAL NET ASSETS - 100.0%** |  | $157494247 |
| 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. |

---

ADR - American Depositary Receipt <br> PLC - Public Limited Company

(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.

------

#### <br>

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Buffalo Blue Chip 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 | $147846209 | $– | $– | $147846209 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 1601182 | – | – | 1601182 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 7677911 | – | – | 7677911 |
| Total Investments | $157125302 | $– | $– | $157125302 |
| 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 Blue Chip Growth Fund

- **b. EDGAR series identifier (if any):** S000022452

- **c. LEI of Series:** 25490007GCR4EP7VZE49

**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:** $157656760.63

**Total Liabilities:** $108994.16

**Net Assets:** $157547766.47

**Cash Not Reported:** $1406.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064613 | 1.11%                | 7.69%                | 5.99%                |
| Class ID C000214593 | 1.10%                | 7.71%                | 6.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $611330.80               | $952692.83                                 |
| Month 2  | $-264618.91              | $10901515.04                               |
| Month 3  | $896493.30               | $8011228.53                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co                   | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      2775 | NS      | $888333.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Birkenstock Holding Plc        | Birkenstock Holding Plc                   | CUSIP: N/A<br>LEI: 529900CQ8LQKQ7LIT631       | Long             | EC               | CORP              | GB        |     13975 | NS      | $687290.50    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                       | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     11025 | NS      | $1499510.25   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      7450 | NS      | $1057155.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     56105 | NS      | $11511062.85  | 7.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical Inc    | BioMarin Pharmaceutical Inc               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     10270 | NS      | $564541.90    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp         | Boston Scientific Corp                    | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     11335 | NS      | $1217492.35   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     10100 | NS      | $7454709.00   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      2575 | NS      | $1362561.25   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                    | Hologic Inc                               | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |      9450 | NS      | $615762.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Consumer Staples Select Sector | Consumer Staples Select Sector SPDR Fund  | CUSIP: 81369Y308<br>LEI: 549300Z52QUV3UXHLA68 | Long             | EC               | RF                | US        |     19775 | NS      | $1601181.75   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc     | Vertex Pharmaceuticals Inc                | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1025 | NS      | $456330.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                        | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      5950 | NS      | $764039.50    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                               | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      4125 | NS      | $799466.25    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                   | Xylem Inc/NY                              | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      7025 | NS      | $908754.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                                   | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | US        |      6700 | NS      | $615060.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL | Seagate Technology Holdings PLC           | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | US        |      3100 | NS      | $447423.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                     | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | SE        |      1375 | NS      | $1055092.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       125 | NS      | $723655.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc                | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10475 | NS      | $588171.25    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio             | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   7675796 | NS      | $7675796.05   | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      3100 | NS      | $898721.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       275 | NS      | $718748.25    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                    | Nutanix Inc                               | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      7125 | NS      | $544635.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc              | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1495 | NS      | $606162.70    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                     | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     10775 | NS      | $1005307.50   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      3025 | NS      | $695992.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                       | Okta Inc                                  | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      4725 | NS      | $472358.25    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                    | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      3485 | NS      | $713170.40    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                              | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      2175 | NS      | $860495.25    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      4750 | NS      | $1508885.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      7615 | NS      | $2703705.75   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     10475 | NS      | $1024245.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                | Yum! Brands Inc                           | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      5475 | NS      | $811285.50    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC         | Trane Technologies PLC                    | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      2250 | NS      | $984172.50    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductors NV                     | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |      2800 | NS      | $611772.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc    | Alnylam Pharmaceuticals Inc               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      1650 | NS      | $538048.50    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     51975 | NS      | $11402795.25  | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                  | AppLovin Corp                             | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1225 | NS      | $428848.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks Inc                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     10500 | NS      | $1074255.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                    | HubSpot Inc                               | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      1050 | NS      | $584461.50    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4350 | NS      | $664462.50    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3190 | NS      | $2486700.70   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                    | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6510 | NS      | $503874.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      5225 | NS      | $2936136.50   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2650 | NS      | $722628.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                 | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      1905 | NS      | $893787.90    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                           | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       555 | NS      | $444771.45    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     46125 | NS      | $8128608.75   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The              | Allstate Corp/The                         | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      3100 | NS      | $624061.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning Inc                               | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     16925 | NS      | $890085.75    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1475 | NS      | $1460161.50   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      9025 | NS      | $972895.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                    | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1150 | NS      | $624921.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                 | S&P Global Inc                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      1825 | NS      | $962304.25    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                            | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      4000 | NS      | $1427960.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                      | Argenx SE                                 | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      1375 | NS      | $757927.50    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     17607 | NS      | $4853369.55   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                            | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      6400 | NS      | $574336.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International Inc/MD             | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1950 | NS      | $532759.50    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     33650 | NS      | $16737846.50  | 10.62%            |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                            | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       845 | NS      | $868727.60    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Cos Inc/The                           | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      5895 | NS      | $727973.55    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp  | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |      4875 | NS      | $1020581.25   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SharkNinja Inc                 | SharkNinja Inc                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4275 | NS      | $423182.25    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                                 | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1095 | NS      | $423633.60    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp                             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      6050 | NS      | $597437.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                    | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3575 | NS      | $1736627.75   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2600 | NS      | $700544.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co            | General Electric Co                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      5570 | NS      | $1433662.30   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      3635 | NS      | $1332736.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1510 | NS      | $1189321.30   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       765 | NS      | $685241.10    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2900 | NS      | $3883477.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    118925 | NS      | $18788960.75  | 11.93%            |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive Inc                   | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      8070 | NS      | $727349.10    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      6575 | NS      | $1437492.25   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                | Ross Stores Inc                           | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      3250 | NS      | $414635.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                  | Snowflake Inc                             | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      1900 | NS      | $425163.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      5125 | NS      | $1160761.25   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday Inc                               | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      3210 | NS      | $770400.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc               | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      4075 | NS      | $948986.00    | 0.60%             |  |  |  | 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