Buffalo Early Stage Growth Fund
BUFOX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Kornitzer Capital Management, Inc. Shawnee Mission KS United States of America 66205
- IPO Date
- May 25, 2004
- CIK
- 0001135300
- Website
- buffalofunds.com
- Similar Companies
- Business
- Buffalo Early Stage Growth Fund (BUFOX) is an actively managed open-end mutual fund that seeks long-term growth of capital by investing primarily in equity securities, including common stocks, preferred stocks, convertible securities, warrants, and rights, of early stage growth companies defined as those with market capitalizations below the weighted average of the Russell 2000 Growth Index and that are developing or have recently developed new products or services. The fund allocates at least 80% of its net assets, plus any borrowings for investment purposes, to these domestic securities, with up to 20% in sponsored or unsponsored American Depositary Receipts and equity securities of foreign companies traded on U.S. exchanges; its portfolio typically comprises 50-70 holdings across sectors such as industrials (approximately 28%), healthcare (26%), technology (19%), consumer cyclical (10%), and financial services (9%), with top holdings including Compass Diversified Holdings, Playa Hotels & Resorts, Shift4 Payments, HealthStream, and Federal Signal. Available in Investor Class (BUFOX, inception May 21, 2004, expense ratio 1.45%) and Institutional Class (BUIOX, inception July 1, 2019, expense ratio 1.35%) shares, the fund maintains total net assets of approximately $60-71 million, a minimum initial investment of $2,500 for Investor Class, daily pricing, and annual dividend distributions. The fund was launched in 2004 as part of the Buffalo Funds family, which was founded in 1994 by Kornitzer Capital Management, Inc., an independent boutique investment adviser headquartered at 5420 West 61st Place in Mission, Kansas, just outside Kansas City. Kornitzer Capital Management serves as the adviser, employing a top-down/bottom-up investment process that identifies long-term secular growth trends—such as demographic changes, bandwidth demand, globalization, and healthcare cost containment—before conducting in-house fundamental research to select companies with strong management, minimal debt, free cash flow potential, scalable models, competitive advantages, and attractive valuations based on proprietary scoring alongside traditional metrics like P/E, P/CF, and EV/EBITDA. In recent developments, Tim Miller, CFA, assumed the role of sole portfolio manager on May 5, 2025, succeeding prior management amid a strategy emphasizing high active share (94%) and low turnover (approximately 16% over three years) to capture early-stage innovation ahead of broader market recognition. The fund continues to target small-cap growth opportunities in the U.S. market, available for sale to United States investors, with no front-end or deferred loads and redemption fees. As of mid-2025, it benchmarks against the Russell 2000 Growth Index within the Morningstar Small Growth category, focusing on premier early-stage companies poised for revenue expansion exceeding GDP growth.