Buffalo Funds Announces Portfolio Management Transition for Buffalo Mid Cap Discovery Fund

Experienced managers with over 60 years of small and mid-cap expertise step in to lead strategy, reinforcing disciplined, research driven approach.

Buffalo Funds today announced a portfolio management transition for Buffalo Mid Cap Discovery Fund (BUFTX/BUITX), underscoring the firm’s commitment to disciplined active management and continuous evaluation of its investment strategies on behalf of shareholders.

Effective May 18, 2026, Alan Norton, CFA and Thomas Norton, CFA will assume responsibility for day-to-day management of the fund. Together they bring over sixty years of investment experience in managing portfolios within the small and mid-cap segments of the market. The transition reflects Buffalo Funds’ ongoing process of aligning each strategy with the appropriate leadership, resources, and investment expertise to support long-term investment objectives.

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“Active oversight of our investment platform is central to how we serve shareholders,” said Laura Symon Browne, President at Buffalo Funds. “We believe this transition positions the Buffalo Mid Cap Discovery Fund for its next phase, supported by experienced portfolio managers and a disciplined, research-driven investment approach.”

The incoming portfolio managers bring extensive experience in fundamental equity research and portfolio construction, with a focus on identifying high-quality businesses and managing risk through varying market environments. They will leverage the firm’s established research platform and collaborative investment process in managing the strategy.

The Buffalo Mid Cap Discovery Fund will continue to pursue its long-term investment objective of capital appreciation, with an emphasis on active security selection and a consistent, repeatable process. The transition is not expected to result in material changes to the fund’s stated investment strategy of investing in innovative, growth-oriented mid-cap companies.

Additional information regarding the portfolio management transition, including details on the investment team and process, is available in the fund’s prospectus supplement and related regulatory filings.

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