# EDGAR Filing Document

**Accession Number:** 0001103243
**File Stem:** 0001413042-25-000545
**Filing Date:** 2025-7
**Character Count:** 24091
**Document Hash:** e114abf8595a15054fba83563bcd238d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-25-000545.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001413042-25-000545

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**PERIOD START**: 20251130

**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:** 251109949

**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

### Taylor Frigon Core Growth Fund (Series ID: S000055970)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000176264 | Taylor Frigon Core Growth Fund | TFCGX           |

## 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:** 619-588-9700

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

- **a. Name of Series:** Taylor Frigon Core Growth Fund

- **b. EDGAR series identifier (if any):** S000055970

- **c. LEI of Series:** 5493008KSY48E37EMT39

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $29062573.35

**Total Liabilities:** $34905.68

**Net Assets:** $29027667.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000176264 | -12.80%              | 2.54%                | 11.65%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-667635.50              | $-3051673.76                               |
| Month 2  | $-9461.41                | $675173.80                                 |
| Month 3  | $438071.23               | $2643468.69                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federated Hermes Money Market Obligations Trust - Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund - Institutional Shares | CUSIP: 60934N104<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |    804421 | NS      | $804420.82    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkami Technology, Inc.                                                                        | Alkami Technology, Inc.                                             | CUSIP: 01644J108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25083 | NS      | $718377.12    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Apyx Medical Corporation                                                                       | Apyx Medical Corporation                                            | CUSIP: 03837C106<br>LEI: 5299009QZVYUYO082S45 | Long             | EC               | CORP              | US        |    132282 | NS      | $206359.92    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs, Inc.                                                                              | Astera Labs, Inc.                                                   | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7919 | NS      | $718411.68    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bill Holdings, Inc.                                                                            | Bill.com Holdings, Inc.                                             | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     11529 | NS      | $503586.72    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings, Inc.                                                                       | Boot Barn Holdings, Inc.                                            | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      5036 | NS      | $807321.16    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cbiz, Inc.                                                                                     | CBIZ Inc.                                                           | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |      7937 | NS      | $573368.88    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd                                                                                     | Camtek Ltd. (Israel)                                                | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |      6650 | NS      | $442491.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co.                                                                                    | Carvana Co. - Class A                                               | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      3124 | NS      | $1022047.84   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearPoint Neuro, Inc.                                                                         | ClearPoint Neuro, Inc.                                              | CUSIP: 18507C103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46770 | NS      | $552353.70    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                                                                               | CloudFlare, Inc. - Class A                                          | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      4752 | NS      | $788309.28    | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Compugen Ltd.                                                                                  | Compugen Ltd. (Israel)                                              | CUSIP: M25722105<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    242969 | NS      | $357164.43    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holdings Ltd                                                            | Credo Technology Group Holding Ltd (Cayman Islands)                 | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     12178 | NS      | $742370.88    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd.                                                                         | CyberArk Software Ltd. (Israel)                                     | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      1576 | NS      | $603261.28    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom, Inc.                                                                                   | DexCom, Inc.                                                        | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      8194 | NS      | $703045.20    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros. Inc.                                                                               | Dutch Bros. Inc. - Class A                                          | CUSIP: 26701L100<br>LEI: 549300ISYAXTFZ4LCT04 | Long             | EC               | CORP              | US        |      8843 | NS      | $638464.60    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems, Inc.                                                                             | EPAM Systems, Inc.                                                  | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      3260 | NS      | $568837.40    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation                                                               | Edwards Lifesciences Corporation                                    | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      7462 | NS      | $583677.64    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiverr International Ltd.                                                                      | Fiverr International Ltd. (Israel)                                  | CUSIP: M4R82T106<br>LEI: 549300Z8OREY6THCPF67 | Long             | EC               | CORP              | IL        |     25196 | NS      | $816854.32    | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| GitLab Inc.                                                                                    | GitLab Inc. - Class A                                               | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     10341 | NS      | $470618.91    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corporation                                                                            | Glaukos Corporation                                                 | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      8354 | NS      | $787698.66    | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings, Inc.                                                                   | Grid Dynamics Holdings Inc. - Class A                               | CUSIP: 39813G109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27749 | NS      | $347694.97    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories, Inc.                                                                       | IDEXX Laboratories, Inc.                                            | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      1371 | NS      | $703816.56    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj, Inc.                                                                                   | Impinj, Inc.                                                        | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      6297 | NS      | $718424.73    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| InMode Ltd.                                                                                    | InMode Ltd. (Israel)                                                | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |     24102 | NS      | $353335.32    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corporation                                                                                | KLA Corporation                                                     | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       767 | NS      | $580526.96    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kornit Digital Ltd.                                                                            | Kornit Digital Ltd. (Israel)                                        | CUSIP: M6372Q113<br>LEI: 5299006DPCQWP3VTFK34 | Long             | EC               | CORP              | IL        |     25612 | NS      | $558341.60    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucky Strike Entertainment Corp.                                                               | Lucky Strike Entertainment Corp. - Class A                          | CUSIP: 10258P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49003 | NS      | $422895.89    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology, Inc.                                                                       | Marvell Technology, Inc.                                            | CUSIP: 573874104<br>LEI: 8DF36O58U3QIHUCGZB18 | Long             | EC               | CORP              | US        |      7501 | NS      | $451485.19    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobileye Global Inc                                                                            | Mobileye Global Inc. - Class A (Israel)                             | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43181 | NS      | $701691.25    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB, Inc.                                                                                  | MongoDB, Inc. - Class A                                             | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      2858 | NS      | $539676.14    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.                                                                 | Monolithic Power Systems, Inc.                                      | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1298 | NS      | $859146.20    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE Ltd.                                                                                      | NICE Ltd. ADR                                                       | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      3896 | NS      | $646463.28    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies, Inc.                                                              | Napco Security Technologies, Inc.                                   | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |     17786 | NS      | $496229.40    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NovoCure Limited                                                                               | NovoCure Limited (Jersey)                                           | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |     25553 | NS      | $488317.83    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation, Inc.                                                                          | Onto Innovation Inc.                                                | CUSIP: 683344105<br>LEI: 549300V1USTYXJ7TNR79 | Long             | EC               | CORP              | US        |      4077 | NS      | $374839.38    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT Biorobotics Corp                                                                       | PROCEPT BioRobotics Corporation                                     | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9896 | NS      | $573968.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies, Inc.                                                                     | Procore Technologies, Inc.                                          | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     12670 | NS      | $851043.90    | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage, Inc.                                                                             | Pure Storage, Inc. - Class A                                        | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     11289 | NS      | $604977.51    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QuickLogic Corporation                                                                         | QuickLogic Corporation                                              | CUSIP: 74837P405<br>LEI: 529900V52LUN2EHHCH56 | Long             | EC               | CORP              | US        |     66600 | NS      | $344988.00    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceTitan, Inc.                                                                             | ServiceTitan, Inc. - Class A                                        | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5130 | NS      | $567737.10    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Symbotic Inc.                                                                                  | Symbotic, Inc. - Class A                                            | CUSIP: 87151X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20256 | NS      | $580739.52    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast, Inc.                                                                                    | Toast, Inc. - Class A                                               | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     15856 | NS      | $668806.08    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tower Semiconductor Ltd.                                                                       | Tower Semiconductor Ltd. (Israel)                                   | CUSIP: M87915274<br>LEI: 54930086ZSNXZOUX0C54 | Long             | EC               | CORP              | IL        |     15268 | NS      | $602169.92    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TradeWeb Markets, Inc.                                                                         | Tradeweb Markets Inc. - Class A                                     | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4268 | NS      | $616512.60    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group, Inc.                                                                        | TransMedics Group, Inc.                                             | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      5324 | NS      | $676786.88    | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vuzix Corporation                                                                              | Vuzix Corporation                                                   | CUSIP: 92921W300<br>LEI: 549300EWPW64TZQXJG66 | Long             | EC               | CORP              | US        |     82649 | NS      | $241335.08    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd.                                                                                   | Wix.com Ltd. (Israel)                                               | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      2795 | NS      | $416315.25    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| monday.com Ltd                                                                                 | monday.com Ltd. (Israel)                                            | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |      2217 | NS      | $659535.33    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-08

**Name of Applicant:** PFS Funds

**Signature:** /s/ Jeffrey R. Provence

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

**Title:** Secretary and Treasurer