# EDGAR Filing Document

**Accession Number:** 0001103243
**File Stem:** 0001103243-26-000081
**Filing Date:** 2026-5
**Character Count:** 13656
**Document Hash:** 15c0bccbfc37a0d40a5dcf56e4dd1e26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001103243-26-000081.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001103243-26-000081

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PFS FUNDS
- **CENTRAL INDEX KEY:** 0001103243

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09781
- **FILM NUMBER:** 261035418

**BUSINESS ADDRESS:**
- **STREET 1:** 1939 FRIENDSHIP DRIVE
- **STREET 2:** STE C
- **CITY:** EL CAJON
- **STATE:** CA
- **ZIP:** 92020
- **BUSINESS PHONE:** 6185889700

**MAIL ADDRESS:**
- **STREET 1:** 1939 FRIENDSHIP DRIVE
- **STREET 2:** STE C
- **CITY:** EL CAJON
- **STATE:** CA
- **ZIP:** 92020

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PREMIER FUNDS TRUST
- **DATE OF NAME CHANGE:** 20100119

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WIRELESS FUND
- **DATE OF NAME CHANGE:** 20000113

## Series and Classes Contracts Data

### Potomac Tactical Opportunities Fund (Series ID: S000068709)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000219679 | Institutional Class Shares | CRTOX           |

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** |
|  |  |  | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
|  | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **Shares** |  |  |  | **Fair Value** | **% of Net Assets** |
| **EXCHANGE TRADED FUNDS** | **EXCHANGE TRADED FUNDS** |  |  |  |  |
| **Equity** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | Global X Silver Miners ETF |  |  | $16142336 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440800 | iShares Latin America 40 ETF |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15657216 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206400 | iShares MSCI EAFE Value ETF |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15345840 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70900 | iShares U.S. Aerospace & Defense ETF | iShares U.S. Aerospace & Defense ETF |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15509375 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240300 | State Street® Energy Select Sector SPDR® ETF | State Street® Energy Select Sector SPDR® ETF |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14720778 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144400 | State Street® SPDR® S&P® Metals & Mining ETF | State Street® SPDR® S&P® Metals & Mining ETF |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15596644 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41200 | VanEck Semiconductor ETF |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15796080 |  |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;108768269 |  |
| **Fixed Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578876 | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29134829 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321949 | iShares 0-3 Month Treasury Bond ETF | iShares 0-3 Month Treasury Bond ETF |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32407386 |  |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61542215 |  |
| **Total for Exchange Traded Funds (Cost - $166,118,525)** | **Total for Exchange Traded Funds (Cost - $166,118,525)** | **Total for Exchange Traded Funds (Cost - $166,118,525)** |  | &nbsp;&nbsp;&nbsp;&nbsp;170310484 | 76.34% |
| **MONEY MARKET FUNDS** | **MONEY MARKET FUNDS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;33776199 | State Street Institutional U.S. Government Money Market Fund | State Street Institutional U.S. Government Money Market Fund | State Street Institutional U.S. Government Money Market Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33776199 | 15.14% |
|  | Premier Class - 3.60% + |  |  |  |  |
| **Total for Money Market Funds (Cost - $33,776,199)** | **Total for Money Market Funds (Cost - $33,776,199)** | **Total for Money Market Funds (Cost - $33,776,199)** |  |  |  |
|  | **Total Investments (Cost - $199,894,724)** | **Total Investments (Cost - $199,894,724)** |  | &nbsp;&nbsp;&nbsp;&nbsp;204086683 | 91.48% |
|  | **Other Assets in Excess of Liabilities** | **Other Assets in Excess of Liabilities** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18997852 | 8.52% |
|  | **Net Assets** |  |  | $223084535 | 100.00% |
| + The rate shown represents the 7-day yield at March 31, 2026. | + The rate shown represents the 7-day yield at March 31, 2026. | + The rate shown represents the 7-day yield at March 31, 2026. | + The rate shown represents the 7-day yield at March 31, 2026. |  |  |
| **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** | **Potomac Tactical Opportunities Fund** |
|  | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** | **Schedule of Futures Contracts** |
|  | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
|  |  |  |  |  | **Unrealized** |
|  |  | **Number of Contracts** | **Expiration** | **Notional** | **Appreciation/** |
| **Description** |  | **Purchased/(Sold)** | **Date** | **Value** | **(Depreciation)** |
| **Index Futures Purchased** | **Index Futures Purchased** |  |  |  |  |
| E-mini Nasdaq 100 Futures \*\* | E-mini Nasdaq 100 Futures \*\* | 334 | 6/18/2026 | $159752200 | $(1044552) |
| **Total** |  | 334 |  | $159752200 | $(1044552) |
| \*\* Exchange Traded. | \*\* Exchange Traded. |  |  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** PFS Funds

- **b. Investment Company Act file number:** 811-09781

- **c. CIK number of Registrant:** 0001103243

- **d. LEI of Registrant:** 549300QPH5FGDXI8HN15

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1939 FRIENDSHIP DRIVE STE C

  - **City:** EL CAJON

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92020

  - **Telephone number:** 6195889700

**Item A.2. Information about the Series.**

- **a. Name of Series:** Potomac Tactical Opportunities Fund

- **b. EDGAR series identifier (if any):** S000068709

- **c. LEI of Series:** 5493000SLMKDUD0NEP61

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $223022064.93

**Total Liabilities:** $246363.13

**Net Assets:** $222775701.80

**Cash Not Reported:** $18598530.40

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219679 | 4.78%                | -1.62%               | -2.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12747819.64             | $-4499379.62                               |
| Month 2  | $-2509228.54             | $4841788.15                                |
| Month 3  | $-3603035.69             | $4458904.22                                |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** S&P500TR

### Schedule of Portfolio Investments

| Name                                        | Title                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State Street Institutional Investment Trust | STATE STREET INST U.S. GOVERNMENT MMKT PREM CLASS             | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  34166633 | NS      | $34166632.84  | 15.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                 | E-Mini NASDAQ 100 Futures June 2026                           | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |       334 | NC      | $-1044551.60  | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares 0-3 Month Treasury Bond ETF                           | CUSIP: 46436E718<br>LEI: 549300L2T50TTT4U6186 | Long             | EC               | RF                | US        |    321949 | NS      | $32407386.34  | 14.55%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares MSCI EAFE Value ETF                                   | CUSIP: 464288877<br>LEI: 549300AN74D4XJZB8Y40 | Long             | EC               | RF                | US        |    206400 | NS      | $15345840.00  | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                              | Global X Silver Miners ETF                                    | CUSIP: 37954Y848<br>LEI: 549300W0XPL6JJ7JYT05 | Long             | EC               | RF                | US        |    179200 | NS      | $16142336.00  | 7.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector SPDR Trust                    | State Street Energy Select Sector SPDR ETF                    | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |    240300 | NS      | $14720778.00  | 6.61%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                            | VanEck Semiconductor ETF                                      | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Long             | EC               | RF                | US        |     41200 | NS      | $15796080.00  | 7.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                           | State Street SPDR S&P Metals & Mining ETF                     | CUSIP: 78464A755<br>LEI: 5493008LMBT3IECLIE27 | Long             | EC               | RF                | US        |    144400 | NS      | $15596644.00  | 7.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BondBloxx ETF Trust                         | BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | CUSIP: 09789C788<br>LEI: N/A                  | Long             | EC               | RF                | US        |    578876 | NS      | $29134829.08  | 13.08%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares Latin America 40 ETF                                  | CUSIP: 464287390<br>LEI: 549300LU9LZBB8WGN795 | Long             | EC               | RF                | US        |    440800 | NS      | $15657216.00  | 7.03%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares U.S. Aerospace & Defense ETF                          | CUSIP: 464288760<br>LEI: 549300BI35CWQ4Q8FM41 | Long             | EC               | RF                | US        |     70900 | NS      | $15509375.00  | 6.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** PFS Funds

**Signature:** Jeffrey R. Provence

**Name of Signer:** Jeffrey R. Provence

**Title:** Secretary and Treasurer