Buffalo funds
Buffalo funds International Fund
Jun 2026 → Sep 2026
Our archive holds 2 letters from this strategy, behind 3 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Buffalo funds for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Institutional Class - BUIIX
- 1Y+15.8%index +20.0%
- 3Y · /yr+13.7%index +20.8%
- 5Y · /yr+5.2%index +10.0%
- 10Y · /yr+9.7%index +9.8%
- Inception · /yr+6.4%index +5.1%
Index: FTSE All-World ex US Index
| 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|
| Buffalo funds International Fund | +15.8% | +13.7% | +5.2% | +9.7% | +6.4% |
| FTSE All-World ex US Index | +20.0% | +20.8% | +10.0% | +9.8% | +5.1% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
SK hynix, the Korean memory semiconductor company, suffered disproportionally in July due to the unwinding of leveraged ETF trades that amplified the stock’s decline.
The decline for Renesas was also overwhelmingly an industry-wide move, as the Global X Japan Semiconductor ETF pullback nearly 20% over the same period, as a broad AI-boom-to-bust rotation hammered Japanese chip companies.
Disco’s decline in the quarter was also primarily a sector-wide move.
Also held
- Baycurrent
- SAP
- Siemens AG
- Resona
- MercadoLibre, Inc.
- Schneider Electric SE
- AstraZeneca PLC
- ASML Holding NV
- Lonza Group AG
- Taiwan Semiconductor Manufacturing
- Samsung Electronics Co. Ltd
- MercadoLibre Inc
- SK hynix Inc
- BAE Systems plc
- Taiwan Semiconductor Manufacturing Co
- Disco Corp
- Nintendo Co Ltd
- Samsung Electronics Co Ltd
- Rheinmetall AG
Its investment theses
- RenesasSep 2026Renesas is a Japanese semiconductor company with strong results and exposure to automotive and industrial end markets, despite industry-wide AI rotation pressures.
- SK hynix IncJun 2026SK hynix Inc is a memory-chip maker benefiting from AI-driven demand, especially its leadership in customized HBM.
- Disco CorporationJun 2026Disco Corporation is a semiconductor equipment company held for secular growth, competitive advantages, and strong free cash flow.