# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0000894189-26-004296
**Filing Date:** 2026-2
**Character Count:** 47832
**Document Hash:** 438472ac83b77f7d1156cabe016d29ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-004296.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0000894189-26-004296

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**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:** 26670134

**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 Growth & Income Fund (Series ID: S000039149)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000120435 | Investor Class      | BUFDX           |
| C000214596 | Institutional Class | BUIDX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Buffalo Growth & Income Fund** | **Buffalo Growth & Income Fund** | **Buffalo Growth & Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 86.8%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 10.7%** | **<u>Communication Services</u> - 10.7%** | |
| **Diversified Telecommunication Services - 0.3%** | | |
| Verizon Communications, Inc. | 10625 | $432756 |
| **Entertainment - 0.5%** |  |  |
| Walt Disney Co. | 7605 | 865221 |
| **Interactive Media & Services - 9.5%** |  |  |
| Alphabet, Inc. - Class A | 12600 | 3943800 |
| Alphabet, Inc. - Class C | 13000 | 4079400 |
| Meta Platforms, Inc. - Class A | 13300 | 8779197 |
|  |  | 16802397 |
| **Media - 0.4%** |  |  |
| Comcast Corp. - Class A | 22500 | 672525 |
| **Total Communication Services** | **Total Communication Services** | 18772899 |
| **<u>Consumer Discretionary</u> - 5.4%** | **<u>Consumer Discretionary</u> - 5.4%** |  |
| **Broadline Retail - 1.4%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 11000 | 2539020 |
| **Hotels, Restaurants & Leisure - 3.2%** |  |  |
| Royal Caribbean Cruises Ltd. | 17126 | 4776784 |
| Starbucks Corp. | 9500 | 799995 |
|  |  | 5576779 |
| **Specialty Retail - 0.8%** |  |  |
| Home Depot, Inc. | 4225 | 1453822 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | 9569621 |
| **<u>Consumer Staples</u> - 3.5%** | **<u>Consumer Staples</u> - 3.5%** |  |
| **Beverages - 1.3%** |  |  |
| PepsiCo, Inc. | 5550 | 796536 |
| Primo Brands Corp. | 88600 | 1448610 |
|  |  | 2245146 |
| **Consumer Staples Distribution & Retail - 0.6%** |  |  |
| Walmart, Inc. | 10350 | 1153093 |
| **Food Products - 0.8%** |  |  |
| Lamb Weston Holdings, Inc. | 18400 | 770776 |
| Tyson Foods, Inc. - Class A | 11900 | 697578 |
|  |  | 1468354 |
| **Household Products - 0.5%** |  |  |
| Procter & Gamble Co. | 5725 | 820450 |
| **Personal Care Products - 0.3%** |  |  |
| Kenvue, Inc. | 27000 | 465750 |
| **Total Consumer Staples** | **Total Consumer Staples** | 6152793 |
| **<u>Energy</u> - 9.3%** | **<u>Energy</u> - 9.3%** |  |
| **Oil, Gas & Consumable Fuels - 9.3%** |  |  |
| Chevron Corp. | 10121 | 1542542 |
| Crescent Energy Co. - Class A | 150000 | 1258500 |
| Energy Transfer LP | 162600 | 2681274 |
| Enterprise Products Partners LP | 46650 | 1495599 |
| Marathon Petroleum Corp. | 12126 | 1972051 |
| Northern Oil and Gas, Inc. | 63400 | 1361198 |
| Valero Energy Corp. | 7900 | 1286041 |
| Viper Energy, Inc. - Class A | 125000 | 4828750 |
| **Total Energy** | **Total Energy** | 16425955 |
| **<u>Financials</u> - 19.3%** | **<u>Financials</u> - 19.3%** |  |
| **Banks - 8.3%** |  |  |
| Bank of America Corp. | 63000 | 3465000 |
| Citigroup, Inc. | 24375 | 2844319 |
| Citizens Financial Group, Inc. | 40750 | 2380207 |
| JPMorgan Chase & Co. | 14000 | 4511080 |
| Truist Financial Corp. | 28600 | 1407406 |
|  |  | 14608012 |
| **Capital Markets - 4.4%** |  |  |
| Blackrock, Inc. | 1100 | 1177374 |
| CME Group, Inc. | 4025 | 1099147 |
| Intercontinental Exchange, Inc. | 11100 | 1797756 |
| S&P Global, Inc. | 7136 | 3729202 |
|  |  | 7803479 |
| **Financial Services - 4.9%** |  |  |
| Burford Capital Ltd. | 180800 | 1612736 |
| Mastercard, Inc. - Class A | 4400 | 2511872 |
| Visa, Inc. - Class A | 12925 | 4532927 |
|  |  | 8657535 |
| **Insurance - 1.7%** |  |  |
| Arthur J. Gallagher & Co. | 11575 | 2995494 |
| **Total Financials** | **Total Financials** | 34064520 |
| **<u>Health Care</u> - 9.5%** | **<u>Health Care</u> - 9.5%** |  |
| **Health Care Equipment & Supplies - 1.1%** |  |  |
| Abbott Laboratories | 10000 | 1252900 |
| Medtronic PLC | 7400 | 710844 |
|  |  | 1963744 |
| **Health Care Providers & Services - 5.0%** |  |  |
| Elevance Health, Inc. | 3375 | 1183106 |
| HCA Healthcare, Inc. | 8100 | 3781566 |
| McKesson Corp. | 2500 | 2050725 |
| UnitedHealth Group, Inc. | 5600 | 1848616 |
|  |  | 8864013 |
| **Pharmaceuticals - 3.4%** |  |  |
| Eli Lilly & Co. | 3150 | 3385242 |
| Johnson & Johnson | 7125 | 1474519 |
| Merck & Co., Inc. | 9800 | 1031548 |
|  |  | 5891309 |
| **Total Health Care** | **Total Health Care** | 16719066 |
| **<u>Industrials</u> - 6.8%** | **<u>Industrials</u> - 6.8%** |  |
| **Aerospace & Defense - 0.4%** |  |  |
| Boeing Co. <sup>(a)</sup> | 3025 | 656788 |
| **Commercial Services & Supplies - 1.2%** |  |  |
| Cintas Corp. | 11200 | 2106384 |
| **Electrical Equipment - 0.3%** |  |  |
| AMETEK, Inc. | 2500 | 513275 |
| **Industrial Conglomerates - 0.4%** |  |  |
| Honeywell International, Inc. | 3450 | 673061 |
| **Machinery - 2.3%** |  |  |
| Otis Worldwide Corp. | 7900 | 690065 |
| Parker-Hannifin Corp. | 3950 | 3471892 |
|  |  | 4161957 |
| **Professional Services - 1.7%** |  |  |
| Equifax, Inc. | 3200 | 694336 |
| SS&C Technologies Holdings, Inc. | 26600 | 2325372 |
|  |  | 3019708 |
| **Trading Companies & Distributors - 0.5%** |  |  |
| Fastenal Co. | 20600 | 826678 |
| **Total Industrials** | **Total Industrials** | 11957851 |
| **<u>Information Technology</u> - 14.4%** | **<u>Information Technology</u> - 14.4%** |  |
| **Communications Equipment - 0.8%** |  |  |
| Cisco Systems, Inc. | 17750 | 1367283 |
| **IT Services - 1.3%** |  |  |
| International Business Machines Corp. | 7700 | 2280817 |
| **Semiconductors & Semiconductor Equipment - 2.4%** |  |  |
| Marvell Technology, Inc. | 10100 | 858298 |
| NVIDIA Corp. | 7100 | 1324150 |
| QUALCOMM, Inc. | 9075 | 1552279 |
| Texas Instruments, Inc. | 2950 | 511795 |
|  |  | 4246522 |
| **Software - 5.1%** |  |  |
| Microsoft Corp. | 18650 | 9019513 |
| **Technology Hardware, Storage & Peripherals - 4.8%** |  |  |
| Apple, Inc. | 31080 | 8449409 |
| **Total Information Technology** | **Total Information Technology** | 25363544 |
| **<u>Materials</u> - 2.7%** | **<u>Materials</u> - 2.7%** |  |
| **Construction Materials - 2.3%** |  |  |
| CRH PLC | 25600 | 3194880 |
| Martin Marietta Materials, Inc. | 1500 | 933990 |
|  |  | 4128870 |
| **Containers & Packaging - 0.4%** |  |  |
| Graphic Packaging Holding Co. | 43700 | 658122 |
| **Total Materials** | **Total Materials** | 4786992 |
| **<u>Utilities</u> - 5.2%** | **<u>Utilities</u> - 5.2%** |  |
| **Electric Utilities - 2.8%** |  |  |
| American Electric Power Co., Inc. | 15700 | 1810367 |
| Edison International | 30550 | 1833611 |
| PG&E Corp. | 82600 | 1327382 |
|  |  | 4971360 |
| **Independent Power and Renewable Electricity Producers - 1.8%** |  |  |
| Vistra Corp. | 19300 | 3113669 |
| **Multi-Utilities - 0.6%** |  |  |
| Sempra Energy | 12200 | 1077138 |
| **Total Utilities** | **Total Utilities** | 9162167 |
| **TOTAL COMMON STOCKS** (Cost $55,216,169) | **TOTAL COMMON STOCKS** (Cost $55,216,169) | 152975408 |
| **REAL ESTATE INVESTMENT TRUSTS - 6.6%** | **Shares** | **Value**  |
| **<u>Real Estate</u> - 6.6%** | **<u>Real Estate</u> - 6.6%** |  |
| **Health Care REITs - 0.8%** |  |  |
| Welltower, Inc. | 7900 | 1466319 |
| **Hotel & Resort REITs - 0.6%** |  |  |
| Pebblebrook Hotel Trust | 90000 | 1018800 |
| **Office REITs - 1.0%** |  |  |
| NET Lease Office Properties | 31400 | 809806 |
| Postal Realty Trust, Inc. - Class A | 55000 | 887700 |
|  |  | 1697506 |
| **Retail REITs - 1.5%** |  |  |
| Macerich Co. | 50000 | 923000 |
| NETSTREIT Corp. | 50000 | 882000 |
| Realty Income Corp. | 15000 | 845550 |
|  |  | 2650550 |
| **Specialized REITs - 2.7%** |  |  |
| American Tower Corp. | 3200 | 561824 |
| Digital Realty Trust, Inc. | 5000 | 773550 |
| Equinix Inc. | 1100 | 842776 |
| Lamar Advertising Co. - Class A | 9968 | 1261750 |
| Public Storage | 5000 | 1297500 |
|  |  | 4737400 |
| **Total Real Estate** | **Total Real Estate** | 11570575 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $9,378,098) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $9,378,098) | 11570575 |
| **CONVERTIBLE BONDS - 2.8%** | **Principal Amount** | **Value**  |
| **<u>Health Care</u> - 0.9%** | **<u>Health Care</u> - 0.9%** | **<u>Health Care</u> - 0.9%** |
| **Biotechnology - 0.9%** | **Biotechnology - 0.9%** | **Biotechnology - 0.9%** |
|  Apellis Pharmaceuticals, Inc., 3.50%, 09/15/2026 | 300000 | 309562 |
|  BioMarin Pharmaceutical, Inc., 1.25%, 05/15/2027 | 500000 | 480200 |
|  PTC Therapeutics, Inc., 1.50%, 09/15/2026 | 600000 | 891390 |
| **Total Health Care** | **Total Health Care** | 1681152 |
| **<u>Industrials</u> - 0.3%** | **<u>Industrials</u> - 0.3%** | **<u>Industrials</u> - 0.3%** |
| **Electrical Equipment - 0.3%** | **Electrical Equipment - 0.3%** | **Electrical Equipment - 0.3%** |
|  Array Technologies, Inc., 1.00%, 12/01/2028 | 500000 | 454619 |
| **<u>Information Technology</u> - 1.6%** | **<u>Information Technology</u> - 1.6%** | **<u>Information Technology</u> - 1.6%** |
| **Communications Equipment - 1.6%** | **Communications Equipment - 1.6%** | **Communications Equipment - 1.6%** |
|  Lumentum Holdings, Inc., 0.50%, 12/15/2026 | 750000 | 2784863 |
| **TOTAL CONVERTIBLE BONDS** (Cost $2,627,351) | **TOTAL CONVERTIBLE BONDS** (Cost $2,627,351) | 4920634 |
| **CONVERTIBLE PREFERRED STOCKS - 1.1%** | **Shares** | **Value**  |
| **<u>Industrials</u> - 0.8%** | **<u>Industrials</u> - 0.8%** |  |
| **Aerospace & Defense - 0.8%** |  |  |
|  Boeing Co., 6.00%, 10/15/2027 | 20000 | 1381200 |
| **<u>Utilities</u> - 0.3%** | **<u>Utilities</u> - 0.3%** |  |
| **Electric Utilities - 0.3%** |  |  |
|  PG&E Corp., Series A, 6.00%, 12/01/2027 | 15000 | 615000 |
| **TOTAL CONVERTIBLE PREFERRED STOCKS** (Cost $1,774,538) | **TOTAL CONVERTIBLE PREFERRED STOCKS** (Cost $1,774,538) | 1996200 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 2.7%** | **Shares** | **Value**  |
| Fidelity Money Market Government Portfolio - Class I, 3.67% <sup>(b)</sup> | 4767772 | 4767772 |
| **TOTAL MONEY MARKET FUNDS** (Cost $4,767,772) | **TOTAL MONEY MARKET FUNDS** (Cost $4,767,772) | 4767772 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $73,763,928**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $73,763,928**)** | 176230589 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> | (56611) |
| **TOTAL NET ASSETS - 100.0%** |  | $176173978 |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| 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. |

---

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

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of December 31, 2025.

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

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Buffalo Growth & Income 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 December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $152975408 | $– | $– | $152975408 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 11570575 | – | – | 11570575 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | – | 4920634 | – | 4920634 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Preferred Stocks | 1996200 | – | – | 1996200 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 4767772 | – | – | 4767772 |
| Total Investments | $171309955 | $4920634 | $– | $176230589 |
| 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 Growth & Income Fund

- **b. EDGAR series identifier (if any):** S000039149

- **c. LEI of Series:** 254900UIX1J4H0GH3324

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $176396383.82

**Total Liabilities:** $164167.98

**Net Assets:** $176232215.84

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000120435 | -0.99%               | 2.17%                | -0.16%               |
| Class ID C000214596 | -0.99%               | 2.20%                | -0.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-1847616.46                               |
| Month 2  | $16752.21                | $3530907.99                                |
| Month 3  | $-118529.30              | $-481945.15                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Tower Corp            | American Tower Corp                  | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      3200 | NS      | $561824.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| APELLIS PHARMACEUTICALS        | Apellis Pharmaceuticals Inc          | CUSIP: 03753UAB2<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | DBT              | CORP              | US        |    300000 | PA      | $309562.50    | 0.18%             | 2026-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      3450 | NS      | $673060.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc        | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     11100 | NS      | $1797756.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp            | Otis Worldwide Corp                  | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      7900 | NS      | $690065.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                   | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     15000 | NS      | $845550.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications Inc           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     10625 | NS      | $432756.25    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc             | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      5000 | NS      | $773550.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L | Enterprise Products Partners LP      | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     46650 | NS      | $1495599.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co   | Graphic Packaging Holding Co         | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43700 | NS      | $658122.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc               | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10100 | NS      | $858298.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      9800 | NS      | $1031548.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                     | AMETEK Inc                           | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      2500 | NS      | $513275.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     17750 | NS      | $1367282.50   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                          | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      3200 | NS      | $694336.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7125 | NS      | $1474518.75   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp              | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     12126 | NS      | $1972051.38   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     18650 | NS      | $9019513.00   | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                          | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      7100 | NS      | $1324150.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      5550 | NS      | $796536.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      9075 | NS      | $1552278.75   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                 | Starbucks Corp                       | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      9500 | NS      | $799995.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     28600 | NS      | $1407406.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises Ltd          | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |     17126 | NS      | $4776783.92   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOMARIN PHARMACEUTICAL        | BioMarin Pharmaceutical Inc          | CUSIP: 09061GAK7<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | DBT              | CORP              | US        |    500000 | PA      | $480200.00    | 0.27%             | 2027-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                        | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      3025 | NS      | $656788.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc         | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     40750 | NS      | $2380207.50   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International           | Edison International                 | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     30550 | NS      | $1833611.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare Inc                   | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      8100 | NS      | $3781566.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     14000 | NS      | $4511080.00   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                     | Kenvue Inc                           | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |     27000 | NS      | $465750.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                | Macerich Co/The                      | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     50000 | NS      | $923000.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                              | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |     25600 | NS      | $3194880.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                        | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      7400 | NS      | $710844.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc               | Viper Energy Inc                     | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125000 | NS      | $4828750.00   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                         | Sempra                               | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     12200 | NS      | $1077138.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     31080 | NS      | $8449408.80   | 4.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co             | Crescent Energy Co                   | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $1258500.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      5600 | NS      | $1848616.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                             | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     12925 | NS      | $4532926.75   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The              | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      5725 | NS      | $820449.75    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods Inc                      | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     11900 | NS      | $697578.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                         | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     13000 | NS      | $4079400.00   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                       | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     11000 | NS      | $2539020.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     22500 | NS      | $672525.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio        | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   4767772 | NS      | $4767771.69   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc       | Lamb Weston Holdings Inc             | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     18400 | NS      | $770776.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3150 | NS      | $3385242.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Lease Office Properties    | NET Lease Office Properties          | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31400 | NS      | $809806.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                  | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     10000 | NS      | $1252900.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc            | Elevance Health Inc                  | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      3375 | NS      | $1183106.25   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                 | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     63000 | NS      | $3465000.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                  | Blackrock Inc                        | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1100 | NS      | $1177374.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      4025 | NS      | $1099147.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                      | PG&E Corp                            | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     82600 | NS      | $1327382.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas Inc         | Northern Oil & Gas Inc               | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     63400 | NS      | $1361198.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP             | Energy Transfer LP                   | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |    162600 | NS      | $2681274.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                          | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1100 | NS      | $842776.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                          | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     20600 | NS      | $826678.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                 | NETSTREIT Corp                       | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     50000 | NS      | $882000.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                      | PG&E Corp                            | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |     15000 | NS      | $615000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp           | Parker-Hannifin Corp                 | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      3950 | NS      | $3471892.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust        | Pebblebrook Hotel Trust              | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |     90000 | NS      | $1018800.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc        | Postal Realty Trust Inc              | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     55000 | NS      | $887700.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp              | Primo Brands Corp                    | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |     88600 | NS      | $1448610.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                       | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      5000 | NS      | $1297500.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                          | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     19300 | NS      | $3113669.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                          | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     10350 | NS      | $1153093.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co/The                   | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      7605 | NS      | $865220.85    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      2950 | NS      | $511795.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp                   | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      7900 | NS      | $1286041.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                        | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      7900 | NS      | $1466319.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                   | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     13300 | NS      | $8779197.00   | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc        | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      1500 | NS      | $933990.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                       | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      4400 | NS      | $2511872.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                        | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      2500 | NS      | $2050725.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                         | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     12600 | NS      | $3943800.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc | American Electric Power Co Inc       | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     15700 | NS      | $1810367.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ARRAY TECHNOLOGIES INC         | Array Technologies Inc               | CUSIP: 04271TAB6<br>LEI: 549300JM5FECYJQ85V37 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454619.24    | 0.26%             | 2028-12-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                  | Boeing Co/The                        | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     20000 | NS      | $1381200.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10121 | NS      | $1542541.61   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                          | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11200 | NS      | $2106384.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     24375 | NS      | $2844318.75   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co              | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     11575 | NS      | $2995494.25   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                   | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4225 | NS      | $1453822.50   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                            | International Business Machines Corp | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      7700 | NS      | $2280817.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co           | Lamar Advertising Co                 | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      9968 | NS      | $1261749.44   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| LUMENTUM HOLDINGS INC          | Lumentum Holdings Inc                | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |    750000 | PA      | $2784862.50   | 1.58%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| PTC THERAPEUTICS INC           | PTC Therapeutics Inc                 | CUSIP: 69366JAD3<br>LEI: 549300UJLWOIWFDGB318 | Long             | DBT              | CORP              | US        |    600000 | PA      | $891390.00    | 0.51%             | 2026-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                 | S&P Global Inc                       | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      7136 | NS      | $3729202.24   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc | SS&C Technologies Holdings Inc       | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     26600 | NS      | $2325372.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Burford Capital Ltd            | Burford Capital Ltd                  | CUSIP: N/A<br>LEI: 549300FUKUWFYJMT2277       | Long             | EC               | CORP              | US        |    180800 | NS      | $1612736.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-23

**Name of Applicant:** Buffalo Funds

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

**Name of Signer:** Laura Symon Browne

**Title:** President and Treasurer