UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number  811-08898

Buffalo High Yield Fund, Inc.

(Exact name of registrant as specified in charter)

5420 West 61^st Place

Shawnee Mission, KS 66205

(Address of principal executive offices) (Zip code)

Kent W. Gasaway

5420 West 61^st Place

Shawnee Mission, KS 66205

(Name and address of agent for service)

(913) 384-1513

Registrant’s telephone number, including area code

Date of fiscal year end: March 31

Date of reporting period: June 30, 2004

Item 1. Proxy Voting Records

Name of Fund:	Buffalo High Yield Fund
Period:	July 1, 2003 - June 30, 2004
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
AMEREN	4/27/2004	22500	023608102	aee
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		SUSAN S. ELLIOTT		Issuer
For		CLIFFORD L. GREENWALT
For		THOMAS A. HAYS
For		RICHARD A. LIDDY
For		GORDON R. LOHMAN
For		RICHARD A. LUMPKIN
For		JOHN PETERS MACCARTHY
For		PAUL L. MILLER, JR.
For		CHARLES W. MUELLER
For		DOUGLAS R. OBERHELMAN
For		GARY L. RAINWATER
For		HARVEY SALIGMAN
For	For	02 . RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS		Issuer
For	Against	03 . REPORT ON STORAGE OF IRRADIATED FUEL RODS AT CALLAWAY		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
BANK OF AMERICA CORP.	3/17/2004	35000	60505104	bac
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
For	For	1. ADOPTION OF THE MERGER AGREEMENT		Issuer
Against	For	2. ADOPTION OF BANK OF AMERICA'S AMENDED STOCK PLAN		Issuer
For	For	3. ADOPTION OF AN AMENDMENT TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF BANK OF AMERICA COMMON STOCK		Issuer
For	For	4. APPROVAL OF PROPOSAL TO ADJOURN THE BANK OF AMERICA SPECIAL MEETING, IF NECESSARY, TO SOLICIT ADDITIONAL PROXIES		Issuer
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
BRISTOL MYERS SQUIBB CO	5/4/2004	40105	110122108	bmy
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		P.R. DOLAN		Issuer
For		L.V. GERSTNER, JR.
For		L. JOHANSSON
For	For	02 . APPOINTMENT OF INDEPENDENT AUDITORS		Issuer
Against	Against	03 . PUBLICATION OF POLITICAL CONTRIBUTIONS		Security Holder
Against	Against	04 . PROHIBITION OF POLITICAL CONTRIBUTIONS		Security Holder
Against	Against	05 . SEPARATION OF CHAIRMAN AND CEO POSITIONS		Security Holder
Against	Against	06 . HIV/AIDS-TB-MALARIA		Security Holder
Against	Against	07 . DIRECTOR VOTE THRESHOLD		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
CHEVRONTEXACO CORP	4/28/2004	33200	166764100	cvx
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	Vote	Directors
For		S.H. ARMACOST		Issuer
For		R.E. DENHAM
For		R.J. EATON
For		S. GINN
Withhold		C.A. HILLS
For		F.G. JENIFER
Withhold		J.B. JOHNSTON
Withhold		S. NUNN
For		D.J. O'REILLY
For		P.J. ROBERTSON
For		C.R. SHOEMATE
For		C. WARE
For	For	02 . RATIFICATION OF INDEPENDENT ACCOUNTANTS		Issuer
For	For	03 . SHOW SUPPORT FOR THE STOCKHOLDER RIGHTS PLAN POLICY		Issuer
Against	For	04 . APPROVAL OF THE LONG-TERM INCENTIVE PLAN		Issuer
Against	Against	05 . HIV/AIDS, TUBERCULOSIS, AND MALARIA		Security Holder
Against	Against	06 . POLITICAL DISCLOSURE		Security Holder
Against	Against	07 . DIRECTOR ELECTION VOTE THRESHOLD		Security Holder
Against	Against	08 . REPORT ON ECUADOR		Security Holder
Against	Against	09 . RENEWABLE ENERGY		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
CONOCOPHILLIPS	5/5/2004	43400	20825C104	cop
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		DAVID L. BOREN		Issuer
For		JAMES E. COPELAND, JR.
For		KENNETH M. DUBERSTEIN
For		RUTH R. HARKIN
For		WILLIAM R. RHODES
For		J. STAPLETON ROY
For	For	02 . RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS		Issuer
Against	For	03 . AUTHORIZE THE 2004 OMNIBUS STOCK AND PERFORMANCE INCENTIVE PLAN		Issuer
Against	Against	04 . OFFICER & DIRECTOR COMPENSATION		Security Holder
Against	Against	05 . COMMONSENSE EXECUTIVE COMPENSATION		Security Holder
Against	Against	06 . ANWR DRILLING		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
EMPIRE DISTRICT ELECTRIC CO	4/22/2004	60710	291641108	ede
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		R.C. HARTLEY		Issuer
For		J.S. LEON
For		A.T. THOMS
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
KERR MCGEE CORP	5/11/2004	61500	492386107	kmg
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		WILLIAM E. BRADFORD		Issuer
For		LUKE R. CORBETT
For		DAVID C GENEVER-WATLING
For		FARAH M. WALTERS
For	For	02 . RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS FOR 2004.		Issuer
For	Against	03 . STOCKHOLDER PROPOSAL REQUESTING ESTABLISHMENT OF AN OFFICE OF THE BOARD OF DIRECTORS.		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
KERR MCGEE CORP	6/25/2004	61500	492386107	kmg
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
For	For	01 . APPROVAL OF THE ISSUANCE OF SHARES OF KERR-MCGEE CORPORATION COMMON STOCK IN CONNECTION WITH THE MERGER OF WESTPORT RESOURCES CORPORATION WITH AND INTO KERR-MCGEE (NEVADA) LLC, A WHOLLY OWNED SUBSIDIARY OF KERR-MCGEE CORPORATION.		Issuer
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
MERCK & CO	4/27/2004	57000	589331107	mrk
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		PETER C. WENDELL		Issuer
For		WILLIAM G. BOWEN
For		WILLIAM M. DALEY
For		THOMAS E. SHENK
For		WENDELL P. WEEKS
For	For	02 . RATIFICATION OF THE APPOINTMENT OF THE COMPANY'S INDEPENDENT AUDITORS FOR 2004		Issuer
For	For	03 . PROPOSAL TO AMEND THE RESTATED CERTIFICATE OF INCORPORATION TO DECLASSIFY THE BOARD OF DIRECTORS THE BOARD OF DIRECTORS RECOMMENDS A VOTE "AGAINST" ITEMS 4 THROUGH 8		Issuer
For	Against	04 . STOCKHOLDER PROPOSAL CONCERNING MANAGEMENT COMPENSATION		Security Holder
Against	Against	05 . STOCKHOLDER PROPOSAL CONCERNING EXTENSION OF PRESCRIPTION DRUG PATENTS		Security Holder
Against	Against	06 . STOCKHOLDER PROPOSAL CONCERNING ETHICAL AND SOCIAL PERFORMANCE OF THE COMPANY		Security Holder
Against	Against	07 . STOCKHOLDER PROPOSAL CONCERNING USE OF SHAREHOLDER RESOURCES FOR POLITICAL PURPOSES		Security Holder
Against	Against	08 . STOCKHOLDER PROPOSAL CONCERNING A REPORT RELATED TO THE GLOBAL HIV/AIDS PANDEMIC		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
SBC COMMUNICATIONS	4/30/2004	82945	78387G103	sbc
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
Withhold		James E. Barnes		Issuer
For		James A. Henderson
For		John B. McCoy
Withhold		S. Donley Ritchey
For		Joyce M. Roche
For		Patricia P. Upton
For	For	Appointment of Indepentant auditors.		Issuer
For	For	Approve an amendent to SBC's Bylaws		Issuer
Against	Against	Stockholder Proposal A.		Security Holder
Against	Against	Stockholder Proposal B.		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
SERVICEMASTER COMPANY	4/30/2004	251300	81760N109	svm
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Against
For		LORD GRIFFITHS		Issuer
For		SIDNEY E. HARRIS
For		JAMES D. MCLENNAN
For	For	02 . APPROVE THE SERVICEMASTER 2004 EMPLOYEE STOCK PURCHASE PLAN.		Issuer
For	For	03 . RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS		Issuer
For	Against	04 . SHAREHOLDER PROPOSAL REGARDING THE RIGHTS AGREEMENT.		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
VERIZON COMMUNICATIONS	4/28/2004	60200	92343V104	vz
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Directors
For		J.R. BARKER		Issuer
For		R.L. CARRION
For		R.W. LANE
For		S.O. MOOSE
For		J. NEUBAUER
For		T.H. O'BRIEN
For		H.B. PRICE
For		I.G. SEIDENBERG
For		W.V. SHIPLEY
For		J.R. STAFFORD
For		R.D. STOREY
For	For	02 . RATIFICATION OF INDEPENDENT AUDITOR		Issuer
Against	Against	03 . CUMULATIVE VOTING		Security Holder
Against	Against	04 . BOARD COMPOSITION		Security Holder
Against	Against	05 . SEPARATE CHAIRMAN AND CEO		Security Holder
For	Against	06 . FUTURE POISON PILL		Security Holder
For	Against	07 . SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS		Security Holder
Against	Against	08 . OPTIONS OR STOCK GRANTS BASED ON TRACKING STOCK		Security Holder
Against	Against	09 . DIVERSITY REPORT ON OPTION GRANTS TO EMPLOYEES		Security Holder
Against	Against	10 . REPORT ON POLITICAL CONTRIBUTIONS		Security Holder
Against	Against	11 . COLLECTION OF UNIVERSAL SERVICE AND NUMBER PORTABILIY FEES		Security Holder
Company Name	Meeting Date	Shares Voted	CUSIP	Ticker
W.P. STEWART AND CO.	5/7/2004	40110	G84922106	wpl
Vote	MRV	Proposal		Proposed by Issuer or Security Holder
	For	Direcots
For		W.Stewart		Issuer
For		J.Russel
For		A. King
For		H.Smith
For		H. Spangler
For		R. Spurling.
For	For	Establish the Size of the Board		Issuer
For	For	Re-Appointment of Independent Auditors		Issuer

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Buffalo High Yield Fund, Inc.

By (Signature and Title)* /s/ Kent W. Gasaway, President  

Date 8/26/2004  

* Print the name and title of each signing officer under his or her signature.