# EDGAR Filing Document

**Accession Number:** 0001135300
**File Stem:** 0000894189-26-004297
**Filing Date:** 2026-2
**Character Count:** 25340
**Document Hash:** 43d5bbde1830a35c7c933ab1a7d43206
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-004297.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0000894189-26-004297

**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:** 26670133

**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 Fund (Series ID: S000022454)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000064615 | Investor Class      | BUFGX           |
| C000214595 | Institutional Class | BIIGX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Buffalo Growth Fund** | **Buffalo Growth Fund** | **Buffalo Growth Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.4%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 18.8%** | **<u>Communication Services</u> - 18.8%** | |
| **Entertainment - 1.5%** | | |
| Liberty Live Holdings, Inc. - Class C <sup>(a)</sup> | 35000 | $2910600 |
| **Interactive Media & Services - 17.3%** |  |  |
| Alphabet, Inc. - Class A | 51100 | 15994300 |
| Alphabet, Inc. - Class C | 21000 | 6589800 |
| Meta Platforms, Inc. - Class A | 15813 | 10438003 |
|  |  | 33022103 |
| **Total Communication Services** | **Total Communication Services** | 35932703 |
| **<u>Consumer Discretionary</u> - 11.9%** | **<u>Consumer Discretionary</u> - 11.9%** |  |
| **Broadline Retail - 9.9%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 72820 | 16808312 |
| MercadoLibre, Inc. <sup>(a)</sup> | 1000 | 2014260 |
|  |  | 18822572 |
| **Hotels, Restaurants & Leisure - 2.0%** |  |  |
| Booking Holdings, Inc. | 720 | 3855838 |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | 22678410 |
| **<u>Energy</u> - 0.9%** | **<u>Energy</u> - 0.9%** |  |
| **Energy Equipment & Services - 0.9%** |  |  |
| SLB Ltd. | 46633 | 1789774 |
| **<u>Financials</u> - 8.2%** | **<u>Financials</u> - 8.2%** |  |
| **Capital Markets - 2.0%** |  |  |
| MSCI, Inc. | 3615 | 2074034 |
| S&P Global, Inc. | 3300 | 1724547 |
|  |  | 3798581 |
| **Financial Services - 6.2%** |  |  |
| Mastercard, Inc. - Class A | 8515 | 4861043 |
| Shift4 Payments, Inc. - Class A <sup>(a)</sup> | 27567 | 1735894 |
| Visa, Inc. - Class A | 14758 | 5175778 |
|  |  | 11772715 |
| **Total Financials** | **Total Financials** | 15571296 |
| **<u>Health Care</u> - 9.5%** | **<u>Health Care</u> - 9.5%** |  |
| **Health Care Equipment & Supplies - 4.3%** |  |  |
| Edwards Lifesciences Corp. <sup>(a)</sup> | 27475 | 2342244 |
| Establishment Labs Holdings, Inc. <sup>(a)</sup> | 26970 | 1965573 |
| IDEXX Laboratories, Inc. <sup>(a)</sup> | 2856 | 1932170 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 3600 | 2038896 |
|  |  | 8278883 |
| **Health Care Providers & Services - 1.8%** |  |  |
| Progyny, Inc. <sup>(a)</sup> | 74024 | 1900936 |
| UnitedHealth Group, Inc. | 4500 | 1485495 |
|  |  | 3386431 |
| **Health Care Technology - 1.2%** |  |  |
| Veeva Systems, Inc. - Class A <sup>(a)</sup> | 10259 | 2290117 |
| **Life Sciences Tools & Services - 2.2%** |  |  |
| Danaher Corp. | 6059 | 1387026 |
| Thermo Fisher Scientific, Inc. | 4768 | 2762818 |
|  |  | 4149844 |
| **Total Health Care** | **Total Health Care** | 18105275 |
| **<u>Industrials</u> - 5.6%** | **<u>Industrials</u> - 5.6%** |  |
| **Commercial Services & Supplies - 1.0%** |  |  |
| Copart, Inc. <sup>(a)</sup> | 49153 | 1924340 |
| **Ground Transportation - 1.7%** |  |  |
| Uber Technologies, Inc. <sup>(a)</sup> | 40278 | 3291115 |
| **Professional Services - 2.9%** |  |  |
| TransUnion | 41322 | 3543362 |
| Verisk Analytics, Inc. | 8587 | 1920826 |
|  |  | 5464188 |
| **Total Industrials** | **Total Industrials** | 10679643 |
| **<u>Information Technology</u> - 40.0% <sup>(b)</sup>** | **<u>Information Technology</u> - 40.0% <sup>(b)</sup>** |  |
| **IT Services - 0.7%** |  |  |
| Gartner, Inc. <sup>(a)</sup> | 5250 | 1324470 |
| **Semiconductors & Semiconductor Equipment - 15.9%** |  |  |
| Broadcom, Inc. | 19943 | 6902272 |
| NVIDIA Corp. | 125000 | 23312500 |
|  |  | 30214772 |
| **Software - 15.2%** |  |  |
| Intuit, Inc. | 3100 | 2053502 |
| Microsoft Corp. | 44350 | 21448547 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 9588 | 1766110 |
| Procore Technologies, Inc. <sup>(a)</sup> | 25000 | 1818500 |
| ServiceNow, Inc. <sup>(a)</sup> | 12620 | 1933258 |
|  |  | 29019917 |
| **Technology Hardware, Storage & Peripherals - 8.2%** |  |  |
| Apple, Inc. | 57750 | 15699915 |
| **Total Information Technology** | **Total Information Technology** | 76259074 |
| **<u>Materials</u> - 1.1%** | **<u>Materials</u> - 1.1%** |  |
| **Chemicals - 1.1%** |  |  |
| Linde PLC | 4971 | 2119585 |
| **<u>Real Estate</u> - 2.4%** | **<u>Real Estate</u> - 2.4%** |  |
| **Real Estate Management & Development - 2.4%** |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 18000 | 2894220 |
| CoStar Group, Inc. <sup>(a)</sup> | 24000 | 1613760 |
| **Total Real Estate** | **Total Real Estate** | 4507980 |
| **TOTAL COMMON STOCKS** (Cost $54,140,085) | **TOTAL COMMON STOCKS** (Cost $54,140,085) | 187643740 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 1.8%** | **Shares** | **Value**  |
| Fidelity Money Market Government Portfolio - Class I, 3.67% <sup>(c)</sup> | 3480042 | 3480042 |
| **TOTAL MONEY MARKET FUNDS** (Cost $3,480,042) | **TOTAL MONEY MARKET FUNDS** (Cost $3,480,042) | 3480042 |
| **TOTAL INVESTMENTS - 100.2% (**Cost $57,620,127**)** | **TOTAL INVESTMENTS - 100.2% (**Cost $57,620,127**)** | 191123782 |
| Liabilities in Excess of Other Assets - (0.2)% | Liabilities in Excess of Other Assets - (0.2)% | (298391) |
| **TOTAL NET ASSETS - 100.0%** |  | $190825391 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

PLC - Public Limited Company<br>

(a) Non-income producing security.

(b) To the extent that the Fund invests more heavily in a particular industries or sectors 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 yield as of December 31, 2025.

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Buffalo 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 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 | $187643740 | $– | $– | $187643740 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 3480042 | – | – | 3480042 |
| Total Investments | $191123782 | $– | $– | $191123782 |
| 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 Fund

- **b. EDGAR series identifier (if any):** S000022454

- **c. LEI of Series:** 254900OR6T24BDGO0T93

**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:** $191164326.31

**Total Liabilities:** $186611.07

**Net Assets:** $190977715.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064615 | 3.24%                | -0.60%               | -0.60%               |
| Class ID C000214595 | 3.23%                | -0.59%               | -0.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1361.73                 | $6286133.55                                |
| Month 2  | $2016450.38              | $-3166675.97                               |
| Month 3  | $2285237.76              | $-3411019.71                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Amazon.com Inc                 | Amazon.com Inc                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     72820 | NS      | $16808312.40  | 8.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      8515 | NS      | $4861043.20   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                    | Progyny Inc                     | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74024 | NS      | $1900936.32   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     19943 | NS      | $6902272.30   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     24000 | NS      | $1613760.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      6059 | NS      | $1387026.28   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Live Holdings Inc      | Liberty Live Holdings Inc       | CUSIP: 530909308<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35000 | NS      | $2910600.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                        | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      3615 | NS      | $2074033.95   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      9588 | NS      | $1766109.60   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc       | Procore Technologies Inc        | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     25000 | NS      | $1818500.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc    | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      4768 | NS      | $2762817.60   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Establishment Labs Holdings In | Establishment Labs Holdings Inc | CUSIP: N/A<br>LEI: 549300BCBQ714JNJ7V58       | Long             | EC               | CORP              | CR        |     26970 | NS      | $1965573.60   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                       | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      4971 | NS      | $2119584.69   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     51100 | NS      | $15994300.00  | 8.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio   | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   3480042 | NS      | $3480041.80   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                    | Gartner Inc                     | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      5250 | NS      | $1324470.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      3600 | NS      | $2038896.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     12620 | NS      | $1933257.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                  | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     18000 | NS      | $2894220.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart Inc                      | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     49153 | NS      | $1924339.95   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     27475 | NS      | $2342243.75   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc           | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     40278 | NS      | $3291115.38   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems Inc               | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     10259 | NS      | $2290116.57   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     57750 | NS      | $15699915.00  | 8.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     15813 | NS      | $10438003.17  | 5.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    125000 | NS      | $23312500.00  | 12.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc            | Shift4 Payments Inc             | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27567 | NS      | $1735893.99   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                     | TransUnion                      | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     41322 | NS      | $3543361.50   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3100 | NS      | $2053502.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     44350 | NS      | $21448547.00  | 11.23%            |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                 | S&P Global Inc                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      3300 | NS      | $1724547.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc           | Verisk Analytics Inc            | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      8587 | NS      | $1920826.03   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     14758 | NS      | $5175778.18   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      4500 | NS      | $1485495.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     21000 | NS      | $6589800.00   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc            | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       720 | NS      | $3855837.60   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc         | IDEXX Laboratories Inc          | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      2856 | NS      | $1932169.68   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      1000 | NS      | $2014260.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd                         | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     46633 | NS      | $1789774.54   | 0.94%             |  |  |  | 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