Performance - Monthly


as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Micro Cap Fund
0.55% 23.73% -13.47% -3.48% N/A -1.08% 5/21/04
Lipper Micro Cap Funds Index
-0.41% 21.65% -10.03% -0.45% N/A 1.80% N/A
Russell Microcap Growth Index
-1.92% 15.23% -11.30% -2.20% N/A -0.76% N/A
Russell 2000 Index
-1.95% 21.48% -8.60% 0.37% N/A 3.17% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Small Cap Fund
-1.96% 12.87% -5.14% 2.24% 8.64% 11.23% 4/14/1998
Lipper Small-Cap Core Funds Index
-2.09% 21.67% -7.59% 1.15% 4.16% 4.38% N/A
Russell 2000 Growth Index
-2.31% 17.96% -7.54% 1.14% -1.72% 0.74% N/A
Russell 2000 Index
-1.95% 21.48% -8.60% 0.37% 3.00% 3.23% N/A
S&P Smallcap 600 Index
-0.88% 23.64% -7.64% 0.82% 5.56% 5.00% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Mid Cap Fund
-1.47% 21.16% -4.54% 2.97% N/A 5.16% 12/17/2001
Lipper Mid-Cap Core Funds Index
-3.43% 22.12% -7.49% 1.40% N/A 4.50% N/A
Russell Midcap Growth Index
-3.31% 21.30% -7.53% 1.37% N/A 3.31% N/A
Russell Midcap Index
-2.06% 25.13% -8.19% 1.22% N/A 5.65% N/A
S&P Midcap 400 Index
-1.36% 24.93% -5.90% 2.21% N/A 5.67% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Large Cap Fund
-9.29% 15.78% -7.94% 0.42% -0.47% 6.77% 5/19/1995
Lipper Capital Appreciation Funds Index
-6.24% 14.86% -6.15% 1.85% -1.06% 6.04% N/A
Russell 1000 Growth Index
-7.65% 13.62% -6.91% 0.38% -5.14% 5.39% N/A
S&P 500 Index
-6.65% 14.43% -9.81% -0.79% -1.59% 6.55% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Science & Technology Fund
-2.29% 20.80% -3.33% 4.82% N/A 3.81% 4/16/2001
NASDAQ Composite Index
-7.05% 14.94% -6.77% 0.50% N/A 1.09% N/A
Lipper Science & Technology Funds Index
-7.52% 17.25% -4.76% 2.50% N/A -1.34% N/A
NYSE ARCA TECH 100 Index
-3.08% 17.96% -3.62% 2.57% N/A 3.46% N/A
S&P 500 Index
-6.65% 14.43% -9.81% -0.79% N/A 0.44% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Growth Fund
-4.06% 14.26% -5.29% 2.07% -0.21% 7.79% 5/19/1995
Lipper Capital Appreciation Funds Index
-6.24% 14.86% -6.15% 1.85% -1.06% 6.04% N/A
Russell 1000 Growth Index
-7.65% 13.62% -6.91% 0.38% -5.14% 5.39% N/A
S&P 500 Index
-6.65% 14.43% -9.81% -0.79% -1.59% 6.55% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo International Fund
-7.93% 13.82% N/A N/A N/A -7.63% 09/28/2007
MSCI EAFE Price (USD)
-13.23% 5.92% N/A N/A N/A -15.14% N/A
AC WORLD INDEX ex USA Price (USD)
-11.06% 10.43% N/A N/A N/A -13.02% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo China Fund
-5.28% 11.75% -13.16% N/A N/A -5.64% 12/18/2006
MSCI CHINA FREE Net (USD)
-6.13% 10.89% 0.80% N/A N/A 8.98% N/A
S&P/HKEx GEM Index
13.75% 33.99% -21.31% N/A N/A -10.73% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo Balanced Fund
-2.33% 15.58% -2.46% 3.71% 4.03% 6.27% 8/12/1994
S&P 500 Index & Merrill Lynch High Yield Master Index Weighted Average
-2.09% 19.53% -3.48% 2.40% 2.10% 7.56% N/A
Lipper Balanced Funds Index
-2.66% 13.33% -3.70% 1.98% 2.34% 6.47% N/A
Merrill Lynch U.S. Domestic Master
5.30% 9.08% 7.71% 5.62% 6.54% 6.80% N/A
S&P 500 Index
-6.65% 14.43% -9.81% -0.79% -1.59% 7.15% N/A
 

as of 6/30/2010

YTD 1-year 3-year 5-year 10-year Since Inception Inception Date
Buffalo High Yield Fund
4.32% 20.82% 6.06% 6.03% 7.37% 7.64% 5/19/1995
Lipper High Yield Bond Funds Index
3.78% 24.97% 2.96% 4.92% 4.72% 5.45% N/A
Merrill Lynch High Yield Master Index
4.83% 27.01% 6.24% 6.97% 7.40% 7.24% N/A
 

Data represented reflects past performance and is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by clicking here. Performance data current to the most recent quarter end may be obtained by clicking here.

The Buffalo High Yield, Buffalo Micro Cap or Buffalo Small Cap Funds impose a 2.00% redemption fee on shares held for less than 180 days. The Buffalo Balanced, Buffalo Large Cap, Buffalo Mid Cap, Buffalo Science & Technology, Buffalo Growth, Buffalo China or Buffalo International Funds impose a 2.00% redemption fee on shares held for less than 60 days. Performance data does not reflect the redemption fee. If reflected, total returns would be reduced.

Mutual fund investing involves risk. Principal loss is possible.

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