The Buffalo Dividend Focus Fund primarily allocates its capital to equity instruments that pay dividends, including common shares, preferred stock, rights, warrants, and convertible securities. Under typical market conditions, a minimum of 80% of the fund's total assets will be invested in these income-generating equity holdings. Furthermore, the fund has the discretion to deploy up to 20% of its net assets into foreign company securities, such as sponsored or unsponsored American Depositary Receipts (ADRs), and other international equities listed on U.S. stock exchanges.
