# EDGAR Filing Document

**Accession Number:** 0001281790
**File Stem:** 0001162044-23-000245
**Filing Date:** 2023-2
**Character Count:** 14231
**Document Hash:** 9e7b7da68ee0d508d52e38dc5eb9332e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000245.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001162044-23-000245

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANK FUNDS
- **CENTRAL INDEX KEY:** 0001281790
- **IRS NUMBER:** 200766084
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21532
- **FILM NUMBER:** 23664556

**BUSINESS ADDRESS:**
- **STREET 1:** 781 CRANDON BOULEVARD
- **STREET 2:** UNIT 202
- **CITY:** KEY BISCAYNE
- **STATE:** FL
- **ZIP:** 33149
- **BUSINESS PHONE:** 9738877698

**MAIL ADDRESS:**
- **STREET 1:** 781 CRANDON BOULEVARD
- **STREET 2:** UNIT 202
- **CITY:** KEY BISCAYNE
- **STATE:** FL
- **ZIP:** 33149

## Series and Classes Contracts Data

### Frank Value Fund (Series ID: S000004757)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000012947 | INVESTOR CLASS      | FRNKX           |
| C000093501 | CLASS C             | FNKCX           |
| C000093502 | INSTITUTIONAL CLASS | FNKIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FRANK FUNDS

- **b. Investment Company Act file number:** 811-21532

- **c. CIK number of Registrant:** 0001281790

- **d. LEI of Registrant:** 549300LBDAM02QHSWS48

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

  - **Street Address 1:** 781 Crandon Blvd.

  - **City:** Key Biscayne

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33149

  - **Telephone number:** 973-887-7698

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

- **a. Name of Series:** Frank Value Fund

- **b. EDGAR series identifier (if any):** S000004757

- **c. LEI of Series:** 549300U9M27MR0CAAZ91

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $19661090.35

**Total Liabilities:** $395387.64

**Net Assets:** $19265702.71

**Cash Not Reported:** $168854.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012947 | 14.17%               | 0.61%                | -1.26%               |
| Class ID C000093501 | 14.13%               | 0.60%                | -1.43%               |
| Class ID C000093502 | 14.25%               | 0.67%                | -1.28%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $2129060.34                                |
| Month 2  | $-66091.99               | $135255.58                                 |
| Month 3  | $273245.05               | $-540952.18                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Altria Group, Inc.                           | Altria Group, Inc.                                                | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     12791 | NS      | $584676.61    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Stone Minerals LP                      | Black Stone Minerals, L.P.                                        | CUSIP: 09225M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32600 | NS      | $549962.00    | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CVR Energy, Inc.                             | CVR Energy, Inc.                                                  | CUSIP: 12662P108<br>LEI: 529900SOYZIXZBTXB558 | Long             | EC               | CORP              | US        |     23740 | NS      | $744011.60    | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Calumet Specialty Products Partners, L.P.    | Calumet Specialty Products Partners, L.P.                         | CUSIP: 131476103<br>LEI: 529900QWK0FGLES9BA18 | Long             | EC               | CORP              | US        |     95837 | NS      | $1617728.56   | 8.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                        | Cardinal Health, Inc.                                             | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     10897 | NS      | $837652.39    | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp.                                  | Civeo Corp.                                                       | CUSIP: 17878Y108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1246 | NS      | $38750.60     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola FEMSA S.A.B. de C.V.               | Coca-Cola FEMSA S.A.B. de C.V. Series L ADR                       | CUSIP: 191241108<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |     16997 | NS      | $1153756.36   | 5.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings, Inc.                      | Delek US Holdings, Inc.                                           | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |      2178 | NS      | $58806.00     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ebay, Inc.                                   | Ebay, Inc.                                                        | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     11219 | NS      | $465251.93    | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                           | Energy Transfer L.P.                                              | CUSIP: 09273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     76647 | NS      | $909799.89    | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Harbor Diversified, Inc.                     | Harbor Diversified, Inc.                                          | CUSIP: 41150R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132250 | NS      | $281692.50    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| International Money Express, Inc.            | International Money Express, Inc.                                 | CUSIP: 46005L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25632 | NS      | $624651.84    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack In the Box, Inc.                        | Jack In the Box, Inc.                                             | CUSIP: 466367109<br>LEI: 5493002OJW26P0SUUP68 | Long             | EC               | CORP              | US        |      5420 | NS      | $369806.60    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio | CUSIP: 61747C582<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    984784 | NS      | $984784.23    | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextier Oilfield Solutions, Inc.             | Nextier Oilfield Solutions, Inc.                                  | CUSIP: 65290C105<br>LEI: 529900L27H2D4QT0IT24 | Long             | EC               | CORP              | US        |     62257 | NS      | $575254.68    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Now, Inc.                                    | Now, Inc.                                                         | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     46364 | NS      | $588822.80    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Opera Ltd.                                   | Opera Ltd. (Norway)                                               | CUSIP: 68373M107<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    132811 | NS      | $835381.19    | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp.                                   | PG&E Corp.                                                        | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     62857 | NS      | $1022054.82   | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp.                                   | Pacific Gas & Electric Co., 1.70%, 11/15/2023                     | CUSIP: 694308JY4<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    780000 | PA      | $754859.63    | 3.92%             | 2023-11-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                        | PayPal Holdings, Inc.                                             | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     19420 | NS      | $1383092.40   | 7.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust, Inc.                    | Postal Realty Trust, Inc.                                         | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     20300 | NS      | $294959.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Trivago N.V.                                 | Trivago N.V. ADR                                                  | CUSIP: 89686D105<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |    242895 | NS      | $327908.25    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                     | US Treasury Bill 0.000% 5/04/2023                                 | CUSIP: 912796YW3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $984906.00    | 5.11%             | 2023-05-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                     | US Treasury Note 0.000% 2/07/2023                                 | CUSIP: 912796ZT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    750000 | PA      | $747149.25    | 3.88%             | 2023-02-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                     | US Treasury Note, 2.125%, 7/31/2024                               | CUSIP: 9128282N9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    780000 | PA      | $750506.64    | 3.90%             | 2024-07-31      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Under Armour, Inc.                           | Under Armour, Inc. Class C                                        | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     51583 | NS      | $460120.36    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Walgreens Boots Alliance, Inc.               | Walgreens Boots Alliance, Inc.                                    | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |      9512 | NS      | $355368.32    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| lastminute.com N.V.                          | lastminute.com N.V. (Switzerland)                                 | CUSIP: 105053860<br>LEI: 724500GXHPNL7D2NNF08 | Long             | EC               | CORP              | NL        |     36685 | NS      | $805205.37    | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Frank Funds

**Signature:** /s/ Brian J. Frank

**Name of Signer:** Brian J. Frank

**Title:** President and Treasurer