485BPOS

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No.___

¨

Post-Effective Amendment No.  8

ý

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY

ACT OF 1940

Amendment No.  9

ý

 (Check appropriate box or boxes.)

Oceanstone Fund

(Exact Name of Registrant as Specified in Charter)

13453 El Presidio Trail

San Diego, CA 92130

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including Area Code:  (858) 481-4123

James J. Wang

P.O. Box 130982

Carlsbad, CA 92013

 (Name and Address of Agent for Service)

Approximate date of proposed public offering:  As soon as practicable after the effective date of the Registration Statement.

It is proposed that this filing will become effective:

ý Immediately upon filing pursuant to paragraph (b)

o On date pursuant to paragraph (b)

o 60 days after filing pursuant to paragraph (a)(1)

o On (date) pursuant to paragraph (a)(1)

o 75 days after filing pursuant to paragraph (a)(2)

o On (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

o  This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that this Amendment meets all of the requirements for effectiveness under Rule 485(b) under the Securities Act and has duly caused this Amendment to be signed on its behalf by the undersigned, duly authorized, in the City of San Diego, State of California, on the 10^th day of November, 2012.

Oceanstone Fund

/s/ James J. Wang

President/Treasurer/Secretary

Pursuant to the requirements of the Securities Act of 1933, this Amendment to Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Name/Title                         

Signature

Date

James J. Wang              

/s/ James J. Wang

11/10/2011

Trustee/President

Rajendra Prasad        

/s/ Rajendra Prasad

11/10/2011

Trustee

Manu Hinduja       

/s/ Manu Hinduja

11/10/2011

Trustee

Exhibit Index

Index NoDescription of Exhibit

1.

EX-101.INS

XBRL Instance Document

2.

EX-101.SCH

XBRL Taxonomy Extension Schema Document

3.

EX-101.CAL

XBRL Taxonomy Extension Calculation Linkbase

4.

EX-101.DEF

XBRL Taxonomy Extension Definition Linkbase

5.

EX-101.LAB

XBRL Taxonomy Extension Labels Linkbase

6.    EX-101.PRE ………………………………………….XBRL Taxonomy Extension Presentation Linkbase

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Document Type

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

Jun. 30, 2012

Registrant Name

dei_EntityRegistrantName

Oceanstone Fund

Central Index Key

dei_EntityCentralIndexKey

0001366043

Amendment Flag

dei_AmendmentFlag

false

Prospectus Date

rr_ProspectusDate

Oct. 31, 2012

Oceanstone Fund

Risk/Return:

rr_RiskReturnAbstract

Objective [Heading]

rr_ObjectiveHeading

RISK/RETURN SUMMARY: INVESTMENT OBJECTIVES/GOALS

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

Oceanstone Fund (the Fund) seeks to obtain capital appreciation.

Expense [Heading]

rr_ExpenseHeading

RISK/RETURN SUMMARY: FEE TABLE

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

The following table describes the fees and expenses that you pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses deducted from the Fund)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year ended June 30, 2012, the Fund’s portfolio turnover rate was 113.22% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

113.22%

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund operating expenses remain the same. Although your actual costs may be lower or higher, based on these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

RISK/RETURN SUMMARY: INVESTMENTS, RISKS, AND PERFORMANCE

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

To achieve its investment objective, the Fund invests only in common stocks on the New York Stock Exchange, American Stock Exchange, and NASDAQ (both Global and Capital Markets), including American Depositary Receipts (ADRs) of foreign issuers, that the Fund's investment adviser believes are undervalued. The Fund will invest in small, medium, and large capitalization stocks and may engage in active and frequent trading of its portfolio securities.

Risk [Heading]

rr_RiskHeading

Principal Investment Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

Investors in the Fund may lose money over short and even long periods of time, due to the risks associated with investments in common stocks. These risks include:

· Market Risk: The price declines of common stocks may be steep, sudden, and prolonged.

· Risk of Small Capitalization Companies: The Fund may hold a large number of small capitalization stocks in its portfolio. Generally, small capitalization stocks have less liquidity and greater volatility in market price than medium and large capitalization stocks.

· Risk of Medium Capitalization Companies: The Fund may also hold a large number of medium capitalization stocks in its portfolio. Generally, medium capitalization stocks have less liquidity and greater volatility in market price than large capitalization stocks.

· Management Risk: When purchasing common stock of a company, the Adviser may be wrong in its judgment of the Company’s future earnings prospects.

· Non-Diversification Risk: The Fund is non-diversified. Compared with other funds, the Fund may invest a greater percentage of its assets in a particular issuer, so the price decline of even one common stock in the Fund’s portfolio may have serious negative consequences for the Fund’s net asset value.

· Portfolio Turnover Risk: The Fund's short-term capital gains from the trading activities of its portfolio stocks are distributed to shareholders and taxed as ordinary income under Federal income tax       laws. Furthermore, the trading costs associated with the Fund’s frequent portfolio turnover may have a negative effect on the Fund’s performance.

· Risk from the Investment Adviser’s Lack of Experience in Advising Mutual Funds: Oceanstone    Capital Management, Inc., the Fund’s investment adviser (the Adviser), was incorporated in May of   2006 and has no prior experience in advising mutual funds. Consequently, the Fund may not be able to     achieve its investment objective due to this lack of experience.

· Foreign Risk: Even though the Fund invests mainly in the common stocks of American corporations, the Fund may from time to time invest in the American Depositary Receipts (ADRs) of foreign issuers. Consequently, the Fund may be subject to risks associated with investing in ADRs.

Risk Lose Money [Text]

rr_RiskLoseMoney

Investors in the Fund may lose money over short and even long periods of time, due to the risks associated with investments in common stocks.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Bar Chart and Table

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The bar chart below shows the Fund’s total return for 2007, 2008, 2009, 2010 and 2011calendar years, together with the best and worst quarters during 2007, 2008, 2009, 2010 and 2011 calendar years. The accompanying table compares the Fund’s performance to that of a broad-based market index. The bar chart and accompanying table provide some indication of the risks of investing in the Fund.  All presentations assume reinvestment of dividends and distributions.  As with all other mutual funds, the Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. To obtain performance data current to the most recent month ended, please call 1-800-988-6290.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

800-988-6290

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

As with all other mutual funds, the Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Annual Return 2007

rr_AnnualReturn2007

24.83%

Annual Return 2008

rr_AnnualReturn2008

(9.96%)

Annual Return 2009

rr_AnnualReturn2009

264.38%

Annual Return 2010

rr_AnnualReturn2010

30.55%

Annual Return 2011

rr_AnnualReturn2011

0.88%

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

During 2007, 2008, 2009, 2010 and 2011 calendar years, the highest return for a quarter was 134.14% (quarter ended June 30, 2009) and the lowest return for a quarter was -16.90% (quarter ended September 30, 2011).

The Fund’s total return for the period from January 1, 2012 through September 30, 2012 was 18.93%.

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Highest return for a quarter

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

134.14%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Lowest return for a quarter

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2011

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(16.90%)

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Return for the Periods ended 12/31/2011

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the historical highest individual federal marginal income tax rate for each taxable component

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table Narrative

rr_PerformanceTableNarrativeTextBlock

After-tax returns are calculated using the historical highest individual federal marginal income tax rate for each taxable component and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

While S&P 500 index is comprised of the stocks of 500 primarily large-cap U.S. companies, the Fund will invest in small, medium, and large capitalization stocks, as well as ADRs of foreign issuers. In addition, the Fund may invest a large portion of its assets in a small number of stocks or in a few sectors. Investors should consider this fact when comparing the Fund's performance with that of the S&P 500 index.

Oceanstone Fund | - Comparison Index - S&P 500 Index (reflects no deduction for expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

2.11%

Since Inception

rr_AverageAnnualReturnSinceInception

0.39%

^[4]

Oceanstone Fund | Oceanstone Fund

Risk/Return:

rr_RiskReturnAbstract

Maximum sales charge (load) imposed on purchases

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum deferred sales charge (load)

rr_MaximumDeferredSalesChargeOverOther

none

Maximum sales charge (load) on reinvested distributions

rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther

none

Redemption fee

rr_RedemptionFeeOverRedemption

none

^[1]

Wire transfer redemption fee

rr_RedemptionFee

(20)

Management fee

rr_ManagementFeesOverAssets

1.80%

Distribution (12b-1) fee

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

none

^[2]

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[3]

Total annual fund operating expenses

rr_ExpensesOverAssets

1.82%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

185

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

573

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

987

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,155

1 Year

rr_AverageAnnualReturnYear01

0.88%

Since Inception

rr_AverageAnnualReturnSinceInception

38.50%

^[4]

Oceanstone Fund | Oceanstone Fund | Return After Taxes on Distributions

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

(1.40%)

Since Inception

rr_AverageAnnualReturnSinceInception

33.85%

^[4]

Oceanstone Fund | Oceanstone Fund | Return After Taxes on Distributions and Sale of Fund Shares

Risk/Return:

rr_RiskReturnAbstract

1 Year

rr_AverageAnnualReturnYear01

2.59%

Since Inception

rr_AverageAnnualReturnSinceInception

32.01%

^[4]

[1] Express Mail Redemption Fee is $25.

[2] The custodial fees are deducted from the Fund's assets and Oceanstone Capital Management, Inc. (the Adviser) reimburses the Fund for these custodial fees on a timely basis in accordance with the Investment Advisory and Management Agreement between the Fund and the Adviser.

[3] The total annual fund operating expenses in this fee table do not correlate to the expense ratio in the Fund's financial statements (or the financial highlights in this Prospectus) because the financial statements reflect only the direct operating expenses of the Fund and do not include the indirect costs of investing in Acquired Funds.

[4] The Oceanstone Fund Inception Date was 11/9/2006.

XML

Oceanstone Fund

RISK/RETURN SUMMARY: INVESTMENT OBJECTIVES/GOALS

Oceanstone Fund (the Fund) seeks to obtain capital appreciation.

RISK/RETURN SUMMARY: FEE TABLE

The following table describes the fees and expenses that you pay if you buy and hold shares of the Fund.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees (USD $)		Oceanstone Fund
Maximum sales charge (load) imposed on purchases		none
Maximum deferred sales charge (load)		none
Maximum sales charge (load) on reinvested distributions		none
Redemption fee	[1]	none
Wire transfer redemption fee		(20)

Annual Fund Operating Expenses (expenses deducted from the Fund)

Annual Fund Operating Expenses		Oceanstone Fund
Management fee		1.80%
Distribution (12b-1) fee		none
Other expenses	[1]	none
Acquired fund fees and expenses	[2]	0.02%
Total annual fund operating expenses		1.82%

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund operating expenses remain the same. Although your actual costs may be lower or higher, based on these assumptions your costs would be:

Expense Example (USD $)	Expense Example, with Redemption, 1 Year	Expense Example, with Redemption, 3 Years	Expense Example, with Redemption, 5 Years	Expense Example, with Redemption, 10 Years
Oceanstone Fund	185	573	987	2,155

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year ended June 30, 2012, the Fund’s portfolio turnover rate was 113.22% of the average value of its portfolio.

RISK/RETURN SUMMARY: INVESTMENTS, RISKS, AND PERFORMANCE

Principal Investment Strategies

To achieve its investment objective, the Fund invests only in common stocks on the New York Stock Exchange, American Stock Exchange, and NASDAQ (both Global and Capital Markets), including American Depositary Receipts (ADRs) of foreign issuers, that the Fund's investment adviser believes are undervalued. The Fund will invest in small, medium, and large capitalization stocks and may engage in active and frequent trading of its portfolio securities.

Principal Investment Risks

Investors in the Fund may lose money over short and even long periods of time, due to the risks associated with investments in common stocks. These risks include:

· Market Risk: The price declines of common stocks may be steep, sudden, and prolonged.

· Risk of Small Capitalization Companies: The Fund may hold a large number of small capitalization stocks in its portfolio. Generally, small capitalization stocks have less liquidity and greater volatility in market price than medium and large capitalization stocks.

· Risk of Medium Capitalization Companies: The Fund may also hold a large number of medium capitalization stocks in its portfolio. Generally, medium capitalization stocks have less liquidity and greater volatility in market price than large capitalization stocks.

· Management Risk: When purchasing common stock of a company, the Adviser may be wrong in its judgment of the Company’s future earnings prospects.

· Non-Diversification Risk: The Fund is non-diversified. Compared with other funds, the Fund may invest a greater percentage of its assets in a particular issuer, so the price decline of even one common stock in the Fund’s portfolio may have serious negative consequences for the Fund’s net asset value.

· Portfolio Turnover Risk: The Fund's short-term capital gains from the trading activities of its portfolio stocks are distributed to shareholders and taxed as ordinary income under Federal income tax       laws. Furthermore, the trading costs associated with the Fund’s frequent portfolio turnover may have a negative effect on the Fund’s performance.

· Risk from the Investment Adviser’s Lack of Experience in Advising Mutual Funds: Oceanstone    Capital Management, Inc., the Fund’s investment adviser (the Adviser), was incorporated in May of   2006 and has no prior experience in advising mutual funds. Consequently, the Fund may not be able to     achieve its investment objective due to this lack of experience.

· Foreign Risk: Even though the Fund invests mainly in the common stocks of American corporations, the Fund may from time to time invest in the American Depositary Receipts (ADRs) of foreign issuers. Consequently, the Fund may be subject to risks associated with investing in ADRs.

Bar Chart and Table

The bar chart below shows the Fund’s total return for 2007, 2008, 2009, 2010 and 2011calendar years, together with the best and worst quarters during 2007, 2008, 2009, 2010 and 2011 calendar years. The accompanying table compares the Fund’s performance to that of a broad-based market index. The bar chart and accompanying table provide some indication of the risks of investing in the Fund.  All presentations assume reinvestment of dividends and distributions.  As with all other mutual funds, the Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. To obtain performance data current to the most recent month ended, please call 1-800-988-6290.

During 2007, 2008, 2009, 2010 and 2011 calendar years, the highest return for a quarter was 134.14% (quarter ended June 30, 2009) and the lowest return for a quarter was -16.90% (quarter ended September 30, 2011).

The Fund’s total return for the period from January 1, 2012 through September 30, 2012 was 18.93%.

Average Annual Total Return for the Periods ended 12/31/2011

After-tax returns are calculated using the historical highest individual federal marginal income tax rate for each taxable component and do not reflect the impact of state and local taxes. Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.

Average Annual Total Returns	1 Year	Since Inception
Oceanstone Fund - Comparison Index - S&P 500 Index (reflects no deduction for expenses or taxes)	2.11%	0.39%	[1]
Oceanstone Fund	0.88%	38.50%	[1]
Oceanstone Fund Return After Taxes on Distributions	(1.40%)	33.85%	[1]
Oceanstone Fund Return After Taxes on Distributions and Sale of Fund Shares	2.59%	32.01%	[1]

While S&P 500 index is comprised of the stocks of 500 primarily large-cap U.S. companies, the Fund will invest in small, medium, and large capitalization stocks, as well as ADRs of foreign issuers. In addition, the Fund may invest a large portion of its assets in a small number of stocks or in a few sectors. Investors should consider this fact when comparing the Fund's performance with that of the S&P 500 index.

[1] Express Mail Redemption Fee is $25.

[1] The custodial fees are deducted from the Fund's assets and Oceanstone Capital Management, Inc. (the Adviser) reimburses the Fund for these custodial fees on a timely basis in accordance with the Investment Advisory and Management Agreement between the Fund and the Adviser.

[2] The total annual fund operating expenses in this fee table do not correlate to the expense ratio in the Fund's financial statements (or the financial highlights in this Prospectus) because the financial statements reflect only the direct operating expenses of the Fund and do not include the indirect costs of investing in Acquired Funds.

[1] The Oceanstone Fund Inception Date was 11/9/2006.