# EDGAR Filing Document

**Accession Number:** 0001281790
**File Stem:** 0001162044-26-000487
**Filing Date:** 2026-6
**Character Count:** 21731
**Document Hash:** 9427ea10c4a25fded84dccce5f76d29c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-26-000487.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001162044-26-000487

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANK FUNDS
- **CENTRAL INDEX KEY:** 0001281790

**ORGANIZATION NAME:**
- **EIN:** 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:** 261047640

**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           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (unaudited)** | **March 31, 2026 (unaudited)** | **March 31, 2026 (unaudited)** |
| **<u>Frank Value Fund</u>** | **<u>Frank Value Fund</u>** | **<u>Frank Value Fund</u>** |
|  | **Shares or Principal** |  |
| **Security Description** | **Amount ($)** | **Fair Value ($)(1)** |
| **Common Stocks - 89.82%** | **Common Stocks - 89.82%** | **Common Stocks - 89.82%** |
| **Air Transportation, Scheduled - 2.87%** |  |  |
| Grupo Aeroportuario Cen ADR (2) | 8080  | 927018  |
| **Bottled & Canned Soft Drinks & Carbonated Waters - 4.02%** |  |  |
| Celsius Holdings, Inc. (2) | 36542  | 1296510  |
| **Canned, Fruits, Veg, Preserves, Jams & Jellies - 4.39%** |  |  |
| The J.M. Smucker Co. | 14715  | 1419115  |
| **Electric Service - 9.60%** |  |  |
| NRG Energy, Inc. | 7506  | 1096927  |
| Talen Energy (2) | 3100  | 989613  |
| Vistra Corp. | 6747  | 1014277  |
|  |  | 3100816  |
| **Grain Mill Products - 4.95%** |  |  |
| Post Holdings, Inc. (2) | 16157  | 1597281  |
| **Hotels, Rooming Houses, Camps & Other Lodging Places - 5.04%** |  |  |
| Civeo Corp. (2) | 61523  | 1627899  |
| **Miscellaneous Electrical Machinery, Equipment & Supplies - 6.58%** |  |  |
| Spectrum Brands Holdings, Inc. | 28823  | 2124255  |
| **Motor Vehicle Parts & Accessor - 3.58%** |  |  |
| Garrett Motion, Inc. | 63544  | 1154594  |
| **Office Machines, NEC - 2.91%** |  |  |
| Pitney Bowes, Inc. | 85000  | 939250  |
| **Perfumes, Cosmetics & Other - 4.63%** |  |  |
| Edgewell Personal Care Co. | 70040  | 1494654  |
| **Pipe Lines (No Natural Gas) - 5.85%** |  |  |
| MPLX LP | 33072  | 1887419  |
| **Services-Business Services, NEC - 3.02%** |  |  |
| Mastercard, Inc. (2) | 1950  | 974337  |
| **Services - Commercial Physical & Biological Research - 3.08%** |  |  |
| Icon plc (2) | 9000  | 995940  |
| **Services-Computer Integrated Services - 5.19%** |  |  |
| Science Applications International Corp. (2) | 17665  | 1676762  |
| **Services-Personal Services - 3.20%** |  |  |
| H&R Block, Inc. | 32517  | 1032090  |
| **Services-Prepackaged Software - 3.14%** |  |  |
| Opera Ltd. (Norway) | 71093  | 1013786  |
| **Sugar & Confectionery Products - 3.31%** |  |  |
| Hershey Co. | 5142  | 1068970  |
| **Transportation Services - 3.17%** |  |  |
| Expedia Group, Inc. | 4438  | 1024690  |
| **Video Game Equipment - 4.09%** |  |  |
| Nintendo Co., Ltd. | 92423  | 1320725  |
| **Wholesale-Groceries, General Line - 7.21%** |  |  |
| United Natural Foods, Inc. (2) | 51652  | 2327439  |
| Total Common Stock | (Cost $24,425,385) | 29003550  |
| **Real Estate Investment Trusts - 4.33%** | **Real Estate Investment Trusts - 4.33%** | **Real Estate Investment Trusts - 4.33%** |
| Apartment Investment & Management Co. | 256297  | 1043129  |
| Net Lease Office Properties | 30719  | 353883  |
| Total Real Estate Investment Trusts | (Cost $2,309,193) | 1397012  |
| **Cash Equivalants - 5.40%** | **Cash Equivalants - 5.40%** | **Cash Equivalants - 5.40%** |
| Fidelity Treasury Fund Class III Treasury Portfolio - 3.30% (3) | 1742340  | 1742340  |
| Total Money Market Registered Investment Companies | (Cost $1,152,928) | 1742340  |
| **Total Investments - 99.55%** | (Cost $28,548,149) | 32142902  |
| Other Assets Less Liabilities - 0.08%  |  | 24983  |
| Total Net Assets - 100.00% |  | 32290097  |
| (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. |
| • Level 1 - quoted prices in active markets for identical securities | • Level 1 - quoted prices in active markets for identical securities | • Level 1 - quoted prices in active markets for identical securities |
| • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's assets carried at fair value: |
|  | Investments in  | Other Financial |
| Valuation Inputs | Securities | Instruments |
| Level 1 - Quoted Prices | $32142902 | $- |
| Level 2 - Other Significant Observable Inputs |  | - |
| Level 3 - Significant Unobservable Inputs | - | - |
| Total | $32142902 | $ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. |
| (2) Represents non-income producing securities. | (2) Represents non-income producing securities. | (2) Represents non-income producing securities. |
| (3) Variable rate security; the coupon rate shown represents the yield at March 31, 2026 | (3) Variable rate security; the coupon rate shown represents the yield at March 31, 2026 | (3) Variable rate security; the coupon rate shown represents the yield at March 31, 2026 |
| ADR - American Depositary Receipt. |  |  |

---

## 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:** 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:** $32348677.53

**Total Liabilities:** $58580.47

**Net Assets:** $32290097.06

**Cash Not Reported:** $71230.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012947 | 2.38%                | 6.54%                | -5.11%               |
| Class ID C000093501 | 2.37%                | 6.48%                | -5.19%               |
| Class ID C000093502 | 2.43%                | 6.58%                | -5.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-47398.23               | $628007.61                                 |
| Month 2  | $814538.00               | $630321.70                                 |
| Month 3  | $131210.03               | $-1959270.59                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apartment Investment & Management Co.           | Apartment Investment & Management Co.    | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               | CORP              | US        |    256297 | NS      | $1043128.79   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings, Inc.                          | Celsius Holdings, Inc.                   | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36542 | NS      | $1296510.16   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp.                                     | Civeo Corp.                              | CUSIP: 17878Y207<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     61523 | NS      | $1627898.58   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Co.                      | Edgewell Personal Care Co.               | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |     70040 | NS      | $1494653.60   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group, Inc.                             | Expedia Group, Inc.                      | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      4438 | NS      | $1024689.82   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Institutional Cash Portfolios          | Fidelity Investments Treasury Portfolio  | CUSIP: 316175884<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1742340 | NS      | $1742340.07   | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion, Inc.                            | Garrett Motion, Inc.                     | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |     63544 | NS      | $1154594.48   | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuano Del Centro Norte SA B De C V | Grupo Aeroportuario Cen ADR              | CUSIP: 400501102<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |      8080 | NS      | $927018.40    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block, Inc.                                 | H&R Block, Inc.                          | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     32517 | NS      | $1032089.58   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co.                                     | Hershey Co.                              | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      5142 | NS      | $1068970.38   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Icon plc                                        | Icon plc                                 | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      9000 | NS      | $995940.00    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                                | Mastercard, Inc.                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1950 | NS      | $974337.00    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                         | MPLX LP                                  | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |     33072 | NS      | $1887419.04   | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                | NRG Energy, Inc.                         | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      7506 | NS      | $1096926.84   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Net Lease Office Pptys                          | Net Lease Office Properties              | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30719 | NS      | $353882.88    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co., Ltd.                              | Nintendo Co., Ltd.                       | CUSIP: 654445303<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     92423 | NS      | $1320724.67   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Opera Ltd.                                      | Opera Ltd. (Norway)                      | CUSIP: 68373M107<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     71093 | NS      | $1013786.18   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes, Inc.                              | Pitney Bowes, Inc.                       | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |     85000 | NS      | $939250.00    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                             | Post Holdings, Inc.                      | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     16157 | NS      | $1597281.02   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp         | Science Applications International Corp. | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     17665 | NS      | $1676761.80   | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Spectrum Brands Holdings, Inc.                  | Spectrum Brands Holdings, Inc.           | CUSIP: 84790A105<br>LEI: 549300JM0MJETDD30O20 | Long             | EC               | CORP              | US        |     28823 | NS      | $2124255.10   | 6.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp.                              | Talen Energy Corp.                       | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3100 | NS      | $989613.00    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The J.M. Smucker Co.                            | The J.M. Smucker Co.                     | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     14715 | NS      | $1419114.60   | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods, Inc.                      | United Natural Foods, Inc.               | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |     51652 | NS      | $2327439.12   | 7.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp.                                    | Vistra Corp.                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      6747 | NS      | $1014276.51   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

**Name of Applicant:** Frank Funds

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

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

**Title:** President and Treasurer