# EDGAR Filing Document

**Accession Number:** 0001103243
**File Stem:** 0001103243-26-000025
**Filing Date:** 2026-2
**Character Count:** 6433
**Document Hash:** 6a81f091bcf2727a747efe55499b8800
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001103243-26-000025.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001103243-26-000025

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26695141

**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 Managed Volatility Fund (Series ID: S000068708)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000219678 | Potomac Managed Volatility Fund | CRMVX           |

## 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 Managed Volatility Fund

- **b. EDGAR series identifier (if any):** S000068708

- **c. LEI of Series:** 549300XPZMG0C2BFLP55

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $203165021.25

**Total Liabilities:** $230957.46

**Net Assets:** $202934063.79

**Cash Not Reported:** $220.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219678 | -0.02%               | 0.19%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $799633.26               | $-1601177.59                               |
| Month 2  | $-2451997.21             | $2112778.86                                |
| Month 3  | $3055.78                 | $-2252204.19                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BondBloxx ETF Trust                         | BondBloxx BB-Rated USD High Yield Corporate Bond ETF        | CUSIP: 09789C705<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1174307 | NS      | $48316156.93  | 23.81%            |  |  |  | No            |                  1 | On Loan: No      |
| BondBloxx ETF Trust                         | BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | CUSIP: 09789C879<br>LEI: N/A                  | Long             | EC               | RF                | US        |    564718 | NS      | $25175128.44  | 12.41%            |  |  |  | No            |                  1 | On Loan: No      |
| BondBloxx ETF Trust                         | BondBloxx CCC-Rated USD High Yield Corporate Bond ETF       | CUSIP: 09789C887<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1264638 | NS      | $48087859.95  | 23.70%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares Broad USD High Yield Corporate Bond ETF             | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |    676301 | NS      | $25290275.90  | 12.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Litman Gregory Funds Trust                  | iMGP DBi Managed Futures Strategy ETF                       | CUSIP: 53700T827<br>LEI: 5493001M6OM3MQRFQ366 | Long             | EC               | RF                | US        |    859178 | NS      | $24108534.68  | 11.88%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional Investment Trust | STATE STREET INST U.S. GOVERNMENT MMKT PREM CLASS           | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   5442677 | NS      | $5442677.27   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds                    | Vanguard Emerging Markets Government Bond Index ETF         | CUSIP: 921946885<br>LEI: 549300JYQ3EMXCXKZG97 | Long             | EC               | RF                | US        |    374164 | NS      | $25229878.52  | 12.43%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** PFS Funds

**Signature:** Jeffrey R. Provence

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

**Title:** Secretary and Treasurer