Investor Login Advisors Contact Us FAQs Search Now Available — 2021 Year-End Capital Gains Distribution Estimates OUR FUNDS Performance & PricingRatingsDividends & DistributionCommentary & Literature PERFORMANCE & PRICING MONTH - END QUARTER - END ANNUAL RETURNS DAILY NAV PRICING Show / Hide Benchmarks As of 10/31/2021 Average Annual Total Returns (%) FUND Ticker, Inception Date, Expense Ratio YTD 1 YR 3 YR 5 YR 10 YR SINCE INCEPTION DOMESTIC EQUITY DISCOVERY BUFTX - Investor, 4/16/01, 1.02% BUITX - Institutional, 7/1/19, 0.87% 14.10 14.22 38.91 39.15 23.62 23.81 19.24 19.42 16.47 16.65 10.91 11.07 EARLY STAGE GROWTH* BUFOX - Investor, 5/21/04, 1.51% BUIOX - Institutional, 7/1/19, 1.37% 13.53 13.67 46.57 46.80 27.26 27.45 24.46 24.65 18.46 18.64 11.39 11.56 GROWTH BUFGX - Investor, 5/19/95, 0.93% BIIGX - Institutional, 7/1/19, 0.79% 20.44 20.57 39.28 39.50 24.72 24.90 20.77 20.94 15.85 16.02 11.50 11.67 LARGE CAP BUFEX - Investor, 5/19/95, 0.95% BUIEX - Institutional, 7/1/19, 0.81% 23.96 24.10 39.70 39.92 25.29 25.48 21.37 21.55 17.39 17.56 11.19 11.35 MID CAP BUFMX - Investor, 12/17/01, 1.03% BUIMX - Institutional, 7/1/19, 0.90% 14.97 15.09 38.61 38.84 26.14 26.33 18.71 18.88 13.41 13.58 10.07 10.23 SMALL CAP BUFSX - Investor, 4/14/98, 1.02% BUISX - Institutional, 7/1/19, 0.87% 13.92 14.08 47.18 47.37 32.74 32.94 27.64 27.83 17.95 18.12 13.98 14.15 INTERNATIONAL EQUITY INTERNATIONAL BUFIX - Investor, 9/28/07, 1.05% BUIIX - Institutional, 7/1/19, 0.90% 17.35 17.55 37.89 38.12 19.00 19.18 15.84 16.02 11.08 11.24 6.95 7.11 EQUITY & INCOME / HIGH YIELD DIVIDEND FOCUS BUFDX - Investor, 12/3/12, 0.96% BUIDX - Institutional, 7/1/19, 0.81% 19.25 19.43 39.21 39.48 17.98 18.17 16.13 16.31 - - 14.52 14.69 FLEXIBLE INCOME BUFBX - Investor, 8/12/94, 1.02% BUIBX - Institutional, 7/1/19, 0.87% 23.54 23.71 42.99 43.21 10.18 10.32 9.87 10.02 8.32 8.48 7.49 7.65 HIGH YIELD BUFHX - Investor, 5/19/95, 1.03% BUIHX - Institutional, 7/1/19, 0.89% 4.92 5.06 12.19 12.40 7.89 8.02 6.15 6.30 6.09 6.24 7.04 7.20 *As of October 16, 2020, the name of the Buffalo Emerging Opportunities Fund changed to the Early Stage Growth Fund. For performance prior to 7/1/19 (Inception Date of Institutional Class), performance of the Investor Class shares is used and includes expenses not applicable and lower than those of Investor Class shares. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted and month-end can be obtained by clicking here. Performance is annualized for periods greater than 1 year. FEATURED INSIGHTS RATINGS & RANKINGS MORNINGSTAR RATINGS SUSTAINABILITY & CARBON RATINGS FUND NAME TICKER SUSTAINABILITY RATING SUSTAINABILITY RANKING CARBON METRIC RATING DISCOVERY BUFTX 33 out of 1,538 US Equity Mid Cap funds, based on 97% of AUM Mid Cap Growth category, based on 79% of AUM DIVIDEND FOCUS BUFDX 95 out of 3,343 US Equity Large Cap Blend funds, based on 98% of AUM EARLY STAGE GROWTH* BUFOX 37 out of 1,600 US Equity Small Cap funds, based on 87% of AUM FLEXIBLE INCOME BUFBX 46 out of 5,421 Aggressive Allocation funds, based on 96% of AUM GROWTH BUFGX 16 out of 1,549 US Equity Large Cap Growth funds, based on 100% of AUM Large Growth category, based on 98% of AUM HIGH YIELD BUFHX 98 out of 2,725 US Equity Large Cap Growth funds, based on 69% of AUM INTERNATIONAL BUFIX 8 out of 7,139 Global Equity Large Cap funds, based on 100% of AUM Foreign Large Growth category, based on 94% of AUM LARGE CAP BUFEX 21 out of 1,549 US Equity Large Cap funds, based on 100% of AUM Large Growth category, based on 96% of AUM MID CAP BUFMX 18 out of 1,5385 US Equity Mid Cap funds, based on 98% of AUM Mid Cap Growth category, based on 95% of AUM SMALL CAP BUFSX 42 out of 1,600 US Equity Small Cap funds, based on 84% of AUM Morningstar Sustainability Ratings are as of 9/30/21. Low Carbon Designation Ratings are as of 6/30/21. MORNINGSTAR RATING™ MORNINGSTAR SUSTAINABILITY RATING™ MORNINGSTAR LOW CARBON DESIGNATION™ DIVIDENDS & DISTRIBUTIONS Now Available — 2021 Year-End Capital Gains Distribution Estimates DISCOVERY DIVIDEND FOCUS EARLY STAGE GROWTH FLEXIBLE INCOME GROWTH HIGH YIELD INTERNATIONAL LARGE CAP MID CAP SMALL CAP DISCOVERY FUND 2021 Distribution Dates: Capital Gains, if any – Record Date (12/2/21); Payment Date (12/3/21) Ordinary Income, if any – Record Date (12/17/21); Payment Date (12/20/21) Payable Date Distribution NAV Net Investment Income Short-Term Capital Gain Long-Term Capital Gains Total Distribution 12/18/2020 $29.79 (Inv) $29.87 (Inst) - - $0.67369 $0.67369 $1.72119 $1.72119 $2.39488 $2.39488 12/18/2019 $24.00 (Inv) $24.02 (Inst) - - $0.66861 $0.66861 $2.92026 $2.92026 $3.58887 $3.58887 12/18/2018 $21.26 $0.16619 $1.31735 $1.48354 12/19/2017 $24.34 $0.54728 $0.57634 $1.12362 12/20/2016 $20.47 $0.28301 $0.23560 $0.51861 12/18/2015 $19.30 $0.25073 $1.23253 $1.48326 12/18/2014 $19.86 $0.30280 $1.75262 $2.05542 12/18/2013 $19.44 $0.52163 $0.98886 $1.51049 12/18/2012 $15.87 $0.03194643 $1.19021 $1.22215643 12/20/2011 $14.08 $0.09271 $0.89769 $0.99040 12/20/2010 $15.25 $0.31678 $0.31678 12/18/2007 $13.25 $0.16525 $0.58416 $0.74941 12/19/2006 $13.12 $0.22628 $0.22628 12/20/2005 $12.39 $0.04532 $0.04532 LITERATURE & FORMS FUND DOCUMENTS ACCOUNT FORMS Fund Symbol Inv / Inst Fact Sheet Quarterly Commentary Full Holdings Summary Prospectus DISCOVERY BUFTX / BUITX DIVIDEND FOCUS BUFDX / BUIDX EARLY STAGE GROWTH* BUFOX / BUIOX FLEXIBLE INCOME BUFBX / BUIBX GROWTH BUFGX / BIIGX HIGH YIELD BUFHX / BUIHX INTERNATIONAL BUFIX / BUIIX LARGE CAP BUFEX / BUIEX MID CAP BUFMX / BUIMX SMALL CAP BUFSX / BUISX The following documents apply to all Buffalo Funds: Prospectus Annual Report Semi-Annual Report Statement of Additional Information Schedules of Investments (6/30/21) Schedules of Investments (12/31/20) SIGN UP FOR AUTOMATIC UPDATES Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds. FOR FINANCIAL PROFESSIONALS FOR INDIVIDUAL INVESTORS OUR FUNDS Discovery Fund Dividend Focus Fund Early Stage Growth Fund Flexible Income Fund Growth Fund High Yield Fund International Fund Large Cap Fund Mid Cap Fund Small Cap Fund INVEST WITH US Open an Account Directly Work with a Financial Advisor Platform Availability RESOURCES Account Forms Advisors Coverdell Accounts CUSIP IDs FAQs Investor Login IRA Accounts Literature Prospectus Tax Information ABOUT US Who We Are Investment Strategy Our Team Our History LinkedIn Prospectus Privacy Policy Definitions © 2021 Buffalo Funds. All rights reserved. Before you invest in the Buffalo Funds, please refer to the summary or statutory prospectus for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectus by calling (800) 49-BUFFALO. The prospectus should be read carefully before you invest or send money. Mutual fund investing involves risk; Principal loss is possible. The Buffalo Dividend Focus, Flexible Income, Early Stage Growth, Small Cap, Mid Cap, Discovery, Growth, and International Funds invest in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Dividend Focus, High Yield, Early Stage Growth, Small Cap, Mid Cap, Discovery, Growth, Large Cap and International Fund may invest in foreign securities which will involve political, economic and currency risks, greater volatility and differences in accounting methods. The International Fund may invest in emerging markets, which are generally more volatile and can have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries and securities markets that are substantially smaller, less liquid, more volatile and may have a lower level of government oversight than securities markets in more developed countries. The Flexible Income and High Yield Funds may invest in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. The Flexible Income Fund may invest in MLPs which are subject to certain risks inherent in the structure of MLPs, including complex tax structure risks, limited ability for election or removal of management, limited voting rights, potential dependence on parent companies or sponsors for revenues to satisfy obligations, and potential conflicts of interest between partners, members and affiliates. Investors should be aware of risks involved with investing REITs and real estate securities, such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments. The Buffalo Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any Buffalo Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Kornitzer Capital Management is the advisor to the Buffalo Funds, which are distributed by Quasar Distributors, LLC.