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Name

As of 04/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Buffalo High Yield Fund

BUFHX | Fund

$10.56

$431 M

0.00%

1.03%

Vitals

YTD Return

2.3%

1 yr return

10.9%

3 Yr Avg Return

3.4%

5 Yr Avg Return

5.6%

Net Assets

$431 M

Holdings in Top 10

26.0%

52 WEEK LOW AND HIGH

$10.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.03%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 41.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Buffalo High Yield Fund

BUFHX | Fund

$10.56

$431 M

0.00%

1.03%

BUFHX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 3.4%
  • 5 Yr Annualized Total Return 5.6%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 4.09%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Buffalo High Yield Fund
  • Fund Family Name
    Buffalo
  • Inception Date
    Jun 20, 1995
  • Shares Outstanding
    4340380
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeffrey Sitzmann

Fund Description

The High Yield Fund normally invests at least 80% of its net assets in higher-yielding, higher-risk debt securities rated below investment grade by the major rating agencies (or in similar unrated securities), commonly known as “junk bonds.” Debt securities can include fixed and floating rate bonds as well as bank debt and convertible securities. While the Fund maintains flexibility to invest in bonds of varying maturities, the Fund generally holds bonds with intermediate-term maturities. With respect to the remaining 20% of the Fund’s net assets, the High Yield Fund may invest in securities such as investment grade debt securities, U.S. Treasury Securities (typically with maturities of 60 days or less), money market funds, and equity investments, including dividend paying stocks, convertible stocks and preferred stocks. The Fund may invest up to 20% of its net assets in sponsored or unsponsored American Depositary Receipts (“ADRs”) and securities of foreign companies that are traded on U.S. stock exchanges and U.S. over-the-counter markets. The Fund may invest in companies in any sector and may have significant investments in the energy sector.
The Fund maintains a flexible investment policy which allows it to invest in debt securities with varying maturities. However, it is anticipated that the dollar-weighted average maturity of debt securities that the Fund purchases will not exceed 15 years and that the average maturity of all securities that the Fund holds at any given time will be 10 years or less. The lowest rated debt security that the Fund will hold is D quality (defaulted securities). Although the Fund will not purchase D quality debt securities, the Fund may continue to hold these securities and will sell them at the discretion of Kornitzer Capital Management, Inc’s., the Fund’s investment adviser (the “Adviser” or “KCM”). The Fund has no limitation on principal, interest or reset terms on debt securities held in the Fund.
The Adviser performs extensive fundamental investment research to identify investment opportunities for the Fund. When evaluating investments and the credit quality of rated and unrated securities, the Adviser looks at a number of past, present and estimated future factors, including: (1) financial strength of the issuer; (2) cash flow; (3) management; (4) borrowing requirements; (5) sensitivity to changes in interest rates and business conditions; and (6) relative value. The High Yield Fund relies on the Adviser to undertake a careful analysis to determine the creditworthiness of the issuers of rated debt (on debt ratings by Moody’s or S&P), as well as the issuers of debt not rated by Moody’s or S&P. The Adviser may sell the High Yield Fund’s investments to secure gains, limit losses or reinvest in more promising investment opportunities.
Read More

BUFHX - Performance

Return Ranking - Trailing

Period BUFHX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -7.2% 5.7% 8.31%
1 Yr 10.9% -8.9% 16.0% 8.02%
3 Yr 3.4%* -16.5% 19.9% 6.23%
5 Yr 5.6%* -11.8% 36.4% 3.13%
10 Yr 4.7%* -4.8% 19.3% 6.81%

* Annualized

Return Ranking - Calendar

Period BUFHX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% -4.7% 14.3% 67.55%
2022 -12.6% -33.4% 3.6% 15.43%
2021 -1.7% -8.4% 14.9% 89.18%
2020 4.5% -13.9% 302.7% 5.74%
2019 7.6% -4.4% 13.3% 58.06%

Total Return Ranking - Trailing

Period BUFHX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -7.2% 5.7% 8.31%
1 Yr 10.9% -8.9% 16.0% 8.02%
3 Yr 3.4%* -16.5% 19.9% 6.23%
5 Yr 5.6%* -11.8% 36.4% 3.13%
10 Yr 4.7%* -4.8% 19.3% 6.81%

* Annualized

Total Return Ranking - Calendar

Period BUFHX Return Category Return Low Category Return High Rank in Category (%)
2023 11.7% -4.7% 18.2% 62.40%
2022 -5.5% -33.4% 47.8% 8.03%
2021 5.5% -8.4% 24.8% 38.52%
2020 9.3% -9.6% 325.6% 6.25%
2019 12.3% 0.9% 21.5% 72.10%

NAV & Total Return History

BUFHX - Holdings

Concentration Analysis

BUFHX Category Low Category High BUFHX % Rank
Net Assets 431 M 1.45 M 23.6 B 56.86%
Number of Holdings 133 2 2736 88.54%
Net Assets in Top 10 92.7 M -492 M 4.45 B 45.82%
Weighting of Top 10 26.04% 4.2% 146.9% 10.84%

Top 10 Holdings

  1. Fidelity Government Portfolio 6.63%
  2. Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC 2.75%
  3. Northern Oil and Gas Inc 2.56%
  4. GEO Group Inc/The 2.52%
  5. Directv Financing LLC 2.49%
  6. Consensus Cloud Solutions Inc 1.94%
  7. KDC/ONE Development Corp Inc 1.90%
  8. Energy Transfer LP 1.78%
  9. Talos Production Inc 1.76%
  10. CoreCivic Inc 1.71%

Asset Allocation

Weighting Return Low Return High BUFHX % Rank
Bonds 		89.54% -3.13% 154.38% 82.90%
Convertible Bonds 		7.39% 0.00% 17.89% 1.55%
Cash 		6.63% -52.00% 48.07% 23.37%
Preferred Stocks 		6.60% 0.00% 7.88% 1.24%
Stocks 		0.00% 0.00% 99.54% 73.65%
Other 		0.00% -63.70% 102.57% 45.05%

Bond Sector Breakdown

Weighting Return Low Return High BUFHX % Rank
Corporate 		95.24% 0.00% 129.69% 49.30%
Cash & Equivalents 		6.63% 0.00% 48.07% 18.89%
Derivative 		0.00% -15.04% 42.26% 35.45%
Securitized 		0.00% 0.00% 97.24% 45.89%
Municipal 		0.00% 0.00% 4.66% 7.91%
Government 		0.00% 0.00% 99.07% 33.49%

Bond Geographic Breakdown

Weighting Return Low Return High BUFHX % Rank
US 		89.54% -3.13% 129.21% 68.11%
Non US 		0.00% 0.00% 98.19% 41.33%

BUFHX - Expenses

Operational Fees

BUFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.03% 0.04% 31.61% 46.44%
Management Fee 0.85% 0.00% 1.84% 94.29%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

BUFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BUFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 9.38%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BUFHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 1.00% 255.00% 19.52%

BUFHX - Distributions

Dividend Yield Analysis

BUFHX Category Low Category High BUFHX % Rank
Dividend Yield 0.00% 0.00% 11.76% 15.54%

Dividend Distribution Analysis

BUFHX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

BUFHX Category Low Category High BUFHX % Rank
Net Income Ratio 4.09% -2.39% 14.30% 66.46%

Capital Gain Distribution Analysis

BUFHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Distributions History

View More +

BUFHX - Fund Manager Analysis

Managers

Jeffrey Sitzmann

Start Date

Tenure

Tenure Rank

Jul 30, 2007

14.85

14.9%

Mr. Sitzmann has been an investment professional since 1987 and joined KCM in 2002. Previously, Mr. Sitzmann worked as a Senior Investment Analyst at Banc One Investment Advisors. Mr. Sitzmann holds a B.B.A. from the University of Toledo and an M.B.A. from the University of Chicago. He also holds the Chartered Financial Analyst designation.

Paul Dlugosch

Start Date

Tenure

Tenure Rank

Jul 30, 2007

14.85

14.9%

Paul Dlugosch, CFA, Co-Portfolio Manager. Mr. Dlugosch has been an investment professional since 1997 and joined KCM in 2002. Previously, Mr. Dlugosch worked at Antares Capital Corporation and LaSalle National Bank in Chicago, Illinois. Mr. Dlugosch holds the Chartered Financial Analyst designation. He holds a B.S. in Business Administration from the University of Iowa.

Jeffrey Deardorff

Start Date

Tenure

Tenure Rank

Jan 05, 2015

7.41

7.4%

Jeff K. Deardorff, CFA, Co-Portfolio Manager. Mr. Deardorff has been an investment professional since 1997 and joined KCM in 2002. Previously, Mr. Deardorff worked as an equity arbitrage and money markets trader for Koch Industries. He holds a B.S. in Business Administration from Kansas State University. Mr. Deardorff has served as co-portfolio manager of the High Yield Fund since 2015 and the Dividend Focus Fund since July 2018.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17

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