# EDGAR Filing Document

**Accession Number:** 0001103243
**File Stem:** 0001413042-23-000057
**Filing Date:** 2023-1
**Character Count:** 18969
**Document Hash:** 09834e3c05e9ee993da837673d32e7e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-23-000057.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001413042-23-000057

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PFS FUNDS
- **CENTRAL INDEX KEY:** 0001103243
- **IRS NUMBER:** 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:** 23531440

**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:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**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:** $33410872.40

**Total Liabilities:** $49631.64

**Net Assets:** $33361240.76

**Cash Not Reported:** $2818753.10

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000176264 | -10.86%              | 2.88%                | -4.36%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-799646.70              | $-3202766.51                               |
| Month 2  | $390965.74               | $626358.76                                 |
| Month 3  | $689249.38               | $-2152710.39                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Akoustis Technologies, Inc.       | Akoustis Technologies, Inc.            | CUSIP: 00973N102<br>LEI: 549300DLBFV9XWL6J142 | Long             | EC               | CORP              | US        |    105838 | NS      | $402184.40    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alteryx, Inc.                     | Alteryx, Inc. - Class A                | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |     12115 | NS      | $543357.75    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Apyx Medical Corporation          | Apyx Medical Corporation               | CUSIP: 03837C106<br>LEI: 5299009QZVYUYO082S45 | Long             | EC               | CORP              | US        |    123214 | NS      | $216856.64    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AudioCodes Ltd.                   | AudioCodes Ltd. (Israel)               | CUSIP: M15342104<br>LEI: 529900TA48138NEVR854 | Long             | EC               | CORP              | IL        |     30189 | NS      | $579628.80    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bill.com Holdings Inc             | Bill.com Holdings, Inc.                | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      5243 | NS      | $631362.06    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings, Inc.          | Boot Barn Holdings, Inc.               | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     17899 | NS      | $1205497.65   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Brainsway Ltd.                    | Brainsway Ltd. ADR                     | CUSIP: 10501L106<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     27569 | NS      | $52243.26     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co.                       | Carvana Co. - Class A                  | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |     13764 | NS      | $106120.44    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearPoint Neuro, Inc.            | ClearPoint Neuro, Inc.                 | CUSIP: 18507C103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37078 | NS      | $349645.54    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare, Inc.                  | CloudFlare, Inc. - Class A             | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      5080 | NS      | $249631.20    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global, Inc.             | Coinbase Global, Inc. - Class A        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      9031 | NS      | $412987.63    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Compugen Ltd.                     | Compugen Ltd. (Israel)                 | CUSIP: M25722105<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    279212 | NS      | $335054.40    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupa Software Incorporated       | Coupa Software Incorporated            | CUSIP: 22266L106<br>LEI: 549300Q95ICR2GFL2K37 | Long             | EC               | CORP              | US        |      7176 | NS      | $453810.24    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd.            | CyberArk Software Ltd. (Israel)        | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      8104 | NS      | $1208063.28   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros., LLC                  | Dutch Bros, Inc. - Class A             | CUSIP: 26701L100<br>LEI: 549300ISYAXTFZ4LCT04 | Long             | EC               | CORP              | US        |     23000 | NS      | $868020.00    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems, Inc.                | EPAM Systems, Inc.                     | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      2605 | NS      | $960150.90    | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Ebix, Inc.                        | Ebix, Inc.                             | CUSIP: 278715206<br>LEI: 549300DHXVZR5SW5QR44 | Long             | EC               | CORP              | US        |     33836 | NS      | $642545.64    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation  | Edwards Lifesciences Corporation       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      5796 | NS      | $447741.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiverr International Ltd.         | Fiverr International Ltd. (Israel)     | CUSIP: M4R82T106<br>LEI: 549300Z8OREY6THCPF67 | Long             | EC               | CORP              | IL        |     11622 | NS      | $408745.74    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corporation               | Glaukos Corporation                    | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     19252 | NS      | $896565.64    | 2.69%             |  |  |  | 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        |     76132 | NS      | $969921.68    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories, Inc.          | IDEXX Laboratories, Inc.               | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      1593 | NS      | $678410.91    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj, Inc.                      | Impinj, Inc.                           | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      9415 | NS      | $1200883.25   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| InMode Ltd.                       | InMode Ltd. (Israel)                   | CUSIP: M5425M103<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     24332 | NS      | $934105.48    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Kornit Digital Ltd.               | Kornit Digital Ltd. (Israel)           | CUSIP: M6372Q113<br>LEI: 5299006DPCQWP3VTFK34 | Long             | EC               | CORP              | IL        |     24844 | NS      | $637000.16    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB, Inc.                     | MongoDB, Inc. - Class A                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      2432 | NS      | $371342.08    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems, Inc.    | Monolithic Power Systems, Inc.         | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      2653 | NS      | $1013339.88   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE Ltd.                         | NICE Ltd. ADR                          | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      4773 | NS      | $926773.41    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NV5 Global, Inc.                  | NV5 Global, Inc.                       | CUSIP: 62945V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8325 | NS      | $1203045.75   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano Dimension Ltd.               | Nano Dimension Ltd. ADR                | CUSIP: 63008G203<br>LEI: 529900VO8AZA0A4ZUM77 | Long             | EC               | CORP              | IL        |    215903 | NS      | $533280.41    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano-X Imaging Ltd                | Nano-X Imaging Ltd. (Israel)           | CUSIP: M70700105<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     31053 | NS      | $330714.45    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Napco Security Technologies, Inc. | Napco Security Technologies, Inc.      | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |     60153 | NS      | $1586836.14   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| NovoCure Limited                  | NovoCure Limited (Jersey)              | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |     11057 | NS      | $849619.88    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BioRobotics Corp.         | PROCEPT BioRobotics Corp.              | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18357 | NS      | $787515.30    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies, Inc.        | Procore Technologies, Inc.             | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     14687 | NS      | $719222.39    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage, Inc.                | Pure Storage, Inc. - Class A           | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     41581 | NS      | $1213749.39   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| QuickLogic Corporation            | QuickLogic Corporation                 | CUSIP: 74837P405<br>LEI: 529900V52LUN2EHHCH56 | Long             | EC               | CORP              | US        |    169289 | NS      | $1047898.91   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| The Real Good Food Company, Inc.  | Real Good Food Company, Inc. Class A   | CUSIP: 75601G109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93707 | NS      | $670005.05    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Repay Holdings Corporation        | Repay Holdings Corporation - Class A   | CUSIP: 76029L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62819 | NS      | $556576.34    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvergate Capital Corporation    | Silvergate Capital Corporation Class A | CUSIP: 82837P408<br>LEI: BPE6FTXDZEBNAGIT2T19 | Long             | EC               | CORP              | US        |     11895 | NS      | $326279.85    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TTEC Holdings, Inc.               | TTEC Holdings, Inc.                    | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |     12438 | NS      | $596402.10    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc.                       | Twilio Inc. - Class A                  | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |      5945 | NS      | $291423.90    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Vapotherm, Inc.                   | Vapotherm, Inc.                        | CUSIP: 922107107<br>LEI: 549300A6KMUMDX27EQ68 | Long             | EC               | CORP              | US        |    156781 | NS      | $139535.09    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Vapotherm, Inc.                   | Velo3D, Inc.                           | CUSIP: 92259N104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    149955 | NS      | $304408.65    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vuzix Corporation                 | Vuzix Corporation                      | CUSIP: 92921W300<br>LEI: 549300EWPW64TZQXJG66 | Long             | EC               | CORP              | US        |     71155 | NS      | $296716.35    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd.                      | Wix.com Ltd. (Israel)                  | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      8458 | NS      | $765364.42    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Zuora, Inc.                       | Zuora, Inc. - Class A                  | CUSIP: 98983V106<br>LEI: 549300ISVGC1YZWQJ420 | Long             | EC               | CORP              | US        |     74016 | NS      | $568442.88    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-17

**Name of Applicant:** PFS Funds

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

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

**Title:** Secretary and Treasurer