BUFSX Fees and Costs — Buffalo Small Cap Growth Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 0.99%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $411K in broker commissions, 0.0866% of average net assets, and portfolio turnover was 37%.
BUFSX Fees and Expenses
Annual operating expenses and sales charges of BUFSX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BUFSX Costs Over Time
On $10,000 invested in BUFSX, assuming 5% a year before costs, total costs come to $672 over 5 years, cutting the return by 1.13% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $9 | $28 | $49 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $370 | $672 |
| Value after costs | $10,387 | $11,206 | $12,090 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
BUFSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0866%
- Total broker commissions: $411K
- Bought from dealers (principal trades, not a cost): $631K
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
BUFSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $92K | 23.08% |
| J.P. Morgan Securities LLC | $77K | 19.16% |
| William Blair & Co. LLC | $53K | 13.25% |
| Stifel Nicolaus & Co., Inc. | $52K | 12.92% |
| Robert W. Baird & Co., Inc. | $33K | 8.23% |
| Craig-Hallum Capital Group LLC | $31K | 7.68% |
| Jefferies LLC | $23K | 5.73% |
| Truist Securities, Inc. | $17K | 4.32% |
| Cowen Execution Services LLC | $11K | 2.85% |
| Raymond James & Associates, Inc. | $11K | 2.76% |
BUFSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $457K | 72.48% |
| Morgan Stanley & Co. LLC | $67K | 10.68% |
| J.P. Morgan Securities LLC | $45K | 7.10% |
| Jefferies LLC | $40K | 6.42% |
| BofA Securities, Inc. | $21K | 3.33% |
Buffalo Small Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BUISX | Institutional Class | 0.87% | — |
| BUFSX | Investor Class | 0.99% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.