BUFTX Fees and Costs — Buffalo Mid Cap Discovery Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 1.02%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $427K in broker commissions, 0.0848% of average net assets, and portfolio turnover was 74%.
BUFTX Fees and Expenses
Annual operating expenses and sales charges of BUFTX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 1.02% |
| Fee waiver | — |
| Net expense ratio | 1.02% |
| 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 |
BUFTX Costs Over Time
On $10,000 invested in BUFTX, assuming 5% a year before costs, total costs come to $690 over 5 years, cutting the return by 1.16% 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 1.02%) | $107 | $334 | $578 |
| Trading costs (broker commissions) | $9 | $28 | $48 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $379 | $690 |
| Value after costs | $10,384 | $11,197 | $12,073 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
BUFTX 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): 0.0848%
- Total broker commissions: $427K
- Bought from dealers (principal trades, not a cost): $1.7M
- Portfolio turnover (prospectus): 74%
- Securities lending: none during the year
BUFTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $140K | 33.47% |
| BofA Securities, Inc. | $88K | 21.08% |
| Instinet, LLC | $75K | 17.98% |
| UBS Securities, LLC | $45K | 10.76% |
| Raymond James & Associates, Inc. | $22K | 5.21% |
| Robert W. Baird & Co., Inc. | $14K | 3.44% |
| Oppenheimer & Co., Inc. | $12K | 2.95% |
| William Blair & Co. LLC | $10K | 2.31% |
| Stifel Nicolaus & Co., Inc. | $8K | 1.91% |
| Cowen Execution Services LLC | $4K | 0.89% |
BUFTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.1M | 65.16% |
| Goldman Sachs & Co. LLC | $468K | 27.67% |
| Morgan Stanley & Co. LLC | $75K | 4.45% |
| Jefferies LLC | $46K | 2.72% |
Buffalo Mid Cap Discovery Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BUITX | Institutional Class | 0.87% | — |
| BUFTX | Investor Class | 1.02% | — |
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.