Investor Login Advisors Contact Us FAQs Search INVESTMENT STRATEGY Home > About Us > Investment Strategy QUICK FACTS – – – – – – – – – – – – – – Year Founded 1994 # of Mutual Funds 10 / no-load / actively-managed Advisor to the Funds Kornitzer Capital Management Media Contact Joel Crampton Email Joel Institutional/Advisor Relations Email Sales Shareholder Service Contact Us The Buffalo Funds’ approach to investing is focused on long-term growth of capital. We are patient, disciplined investors who believe that actively-managed, no-load funds are a prudent way to potentially generate meaningful returns over time. We do not adhere to benchmarks, but construct our portfolios based on our own extensive research into how and where we believe long-term growth is likely to occur. The core principle of this investment strategy is our top-down / bottom-up approach. ABOUT US Who We Are Investment Strategy Our Team Our History LinkedIn Twitter TOP-DOWN (Trend Identification) – Identify broad, secular growth trends, currently numbered at 20+ (e.g., demographic changes, growing demand for bandwidth, globalization, healthcare cost containment) that are: Well-defined and measurable Long-term in nature (at least 3-5 years) Not in flat, declining, and/or cyclical industries In industries with long-term growth impetus, which could exceed Gross Domestic Product (GDP) BOTTOM-UP (In-House Research) – Search for companies that should benefit from one or more trends, and perform extensive in-house research to select the companies which we believe: Have a strong, reliable management team and business plan Carry little or no debt Generate free cash flow Maintain optimal operating margins VALUATION ANALYSIS We use traditional valuation guidelines and a proprietary scoring system to value each stock on our “wish list”. We believe one of the keys to reduced investment risk is close attention to stock valuation. Companies with solid fundamentals that are expected to benefit from secular growth trends are subject to in-depth valuation analysis. Our proprietary multi-factor scoring system allows fundamentals / valuation of individual growth companies to be compared to a growth universe A price to expected value range frames each stock’s potential with an emphasis on the longer-term risk/reward opportunity Traditional valuation tools include P/E, P/CF, EV/EBITDA While the funds are no-load, management and other expenses still apply. Please refer to the prospectus for further details. 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.