UNITED STATESSECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number  811-07685

FRONTIER FUNDS, INC. (Exact name of registrant as specified in charter)

400 Skokie Blvd.

Suite 500

Northbrook, Illinois 60062 (Address of principal executive offices) (Zip code)

William D. Forsyth III

400 Skokie Blvd., Suite 500

Northbrook, Illinois 60062 (Name and address of agent for service)

(847) 509-9860

Registrant's telephone number, including area code

Date of fiscal year end:  June 30, 2017

Date of reporting period:  March 31, 2017

Item 1. Schedule of Investments.

Frontier MFG Global Equity Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares		Value
COMMON STOCKS 85.0%
	France  3.0%
362,166	Sanofi	$	32,693,771
	Switzerland  6.6%
517,417	Nestle SA		39,697,995
430,229	Novartis AG		31,934,833
			71,632,828
	United Kingdom  5.2%
34,332,334	Lloyds Banking Group PLC		28,527,474
11,920,614	Tesco PLC  (a)		27,719,927
			56,247,401
	United States  70.2%
9,510	Alphabet, Inc. - Class A (a)		8,062,578
60,907	Alphabet, Inc. - Class C (a)		50,526,020
578,140	Apple, Inc.		83,055,592
156,320	Costco Wholesale Corp.		26,213,301
478,838	CVS Health Corp.		37,588,783
1,291,433	eBay, Inc. (a)		43,353,406
291,151	Facebook, Inc. - Class A (a)		41,358,000
353,499	HCA Holdings, Inc. (a)		31,457,876
669,161	Lowe's Companies, Inc.		55,011,726
288,900	MasterCard, Inc. - Class A		32,492,583
293,973	McDonald's Corp.		38,101,840
748,657	Microsoft Corp.		49,306,550
925,274	Oracle Corp.		41,276,473
827,084	PayPal Holdings, Inc. (a)		35,581,154
264,769	QUALCOMM, Inc.		15,181,854
667,255	Starbucks Corp.		38,961,019
619,002	Visa, Inc. - Class A		55,010,708
842,316	Wells Fargo & Co.		46,883,309
542,511	Yum! Brands, Inc.		34,666,453
			764,089,225
	Total Common Stocks
	(Cost $743,734,403)		924,663,225
SHORT-TERM INVESTMENTS 14.5%
	Investment Company 14.5%
157,763,410	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		157,763,410
	Total Short-Term Investments
	(Cost $157,763,410)		157,763,410
	Total Investments 99.5%
	(Cost $901,497,813)		1,082,426,635
	Other Assets in Excess of Liabilities 0.5%		4,944,535
	TOTAL NET ASSETS 100.0%	$	1,087,371,170

(a) Non-Income Producing.
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	901,497,813
Gross unrealized appreciation	$	223,597,664
Gross unrealized depreciation		(42,668,842	)
Net unrealized appreciation	$	180,928,822
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier MFG Global Plus Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 75.1%
		France  2.7%
	61,589	Sanofi	$	5,559,817
		Switzerland  6.0%
	88,750	Nestle SA		6,809,202
	73,200	Novartis AG		5,433,455
				12,242,657
		United Kingdom  2.4%
	5,837,884	Lloyds Banking Group PLC		4,850,823
		United States  64.0%
	1,640	Alphabet, Inc. - Class A (a)		1,390,392
	10,415	Alphabet, Inc. - Class C (a)		8,639,867
	95,658	Apple, Inc.		13,742,228
	26,565	Costco Wholesale Corp.		4,454,685
	82,198	CVS Health Corp.		6,452,543
	221,343	eBay, Inc. (a)		7,430,485
	49,971	Facebook, Inc. - Class A (a)		7,098,381
	60,188	HCA Holdings, Inc. (a)		5,356,130
	114,706	Lowe's Companies, Inc.		9,429,980
	49,181	MasterCard, Inc. - Class A		5,531,387
	50,229	McDonald's Corp.		6,510,181
	127,985	Microsoft Corp.		8,429,092
	158,696	Oracle Corp.		7,079,429
	141,732	PayPal Holdings, Inc. (a)		6,097,311
	45,279	QUALCOMM, Inc.		2,596,298
	113,337	Starbucks Corp.		6,617,747
	105,755	Visa, Inc. - Class A		9,398,447
	143,951	Wells Fargo & Co.		8,012,313
	93,097	Yum! Brands, Inc.		5,948,898
				130,215,794
		Total Common Stocks
		(Cost $138,636,419)		152,869,091
SHORT-TERM INVESTMENTS 13.3%
		Investment Company 13.3%
	27,033,242	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		27,033,242
		Total Short-Term Investments
		(Cost $27,033,242)		27,033,242
		Total Investments 88.4%
		(Cost $165,669,661)		179,902,333
		Other Assets in Excess of Liabilities 11.6%		23,615,571
		TOTAL NET ASSETS 100.0%	$	203,517,904

(a) Non-Income Producing.
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	165,669,661
Gross unrealized appreciation	$	14,979,632
Gross unrealized depreciation		(746,960	)
Net unrealized appreciation	$	14,232,672
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier MFG Core Infrastructure Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 98.4%
		Australia  8.7%
	302,757	APA Group	$	2,072,506
	1,023,587	AusNet Services		1,317,705
	691,182	DUET Group		1,473,296
	150,928	Macquarie Atlas Roads Group		590,382
	456,506	Spark Infrastructure Group		826,587
	611,315	Sydney Airport		3,161,894
	539,277	Transurban Group		4,808,130
				14,250,500
		Canada  11.2%
	57,034	Emera, Inc.		2,014,857
	115,755	Enbridge, Inc.		4,849,202
	109,031	Fortis, Inc.		3,613,187
	163,195	Hydro One Ltd.		2,975,883
	104,004	TransCanada Corp.		4,799,583
	12,902	Valener, Inc.		212,082
				18,464,794
		France  5.3%
	26,882	Aeroports de Paris		3,322,323
	66,128	Eutelsat Communications SA		1,476,519
	156,246	Groupe Eurotunnel SE		1,572,161
	104,163	SES SA - ADR		2,423,003
				8,794,006
		Germany  1.1%
	26,260	Fraport AG Frankfurt Airport Services Worldwide		1,858,185
		Hong Kong  2.9%
	550,428	Power Assets Holdings Ltd.		4,745,374
		Italy  8.5%
	190,719	Atlantia SpA		4,923,723
	153,910	Enav SpA (a)		625,899
	219,756	Italgas SpA (a)		964,002
	950,919	Snam SpA		4,112,554
	64,645	Societa Iniziative Autostradali e Servizi SpA		617,223
	545,998	Terna Rete Elettrica Nazionale SpA		2,708,497
				13,951,898
		Mexico  2.3%
	101,062	Grupo Aeroportuario del Centro Norte SAB de CV		547,408
	129,463	Grupo Aeroportuario del Pacifico SAB de CV - Class B		1,257,272
	78,704	Grupo Aeroportuario del Sureste SAB de CV - Class B		1,363,534
	492,083	OHL Mexico SAB de CV		695,457
				3,863,671
		Netherlands  1.0%
	36,316	Koninklijke Vopak NV		1,583,580
		New Zealand  1.4%
	338,342	Auckland International Airport Ltd.		1,603,324
	297,311	Vector Ltd.		666,930
				2,270,254

	Spain  9.1%
269,029	Abertis Infraestructuras SA	4,333,715
31,288	Aena SA	4,949,978
65,819	Cellnex Telecom SAU	1,086,592
67,821	Enagas SA	1,761,763
146,980	Red Electrica Corp SA	2,822,377
		14,954,425
	Switzerland  1.1%
8,722	Flughafen Zuerich AG	1,859,080
	United Kingdom  6.4%
396,750	National Grid PLC	5,037,977
117,677	Pennon Group PLC	1,300,396
64,024	Severn Trent PLC	1,910,733
185,215	United Utilities Group PLC	2,305,470
		10,554,576
	United States  39.4%
6,810	ALLETE, Inc.	461,105
27,318	Alliant Energy Corp.	1,082,066
29,111	Ameren Corp.	1,589,170
48,738	American Electric Power Co., Inc.	3,271,782
5,066	American States Water Co.	224,424
29,329	American Tower Corp.	3,564,647
21,382	American Water Works Co., Inc.	1,662,878
21,290	Aqua America, Inc.	684,474
12,619	Atmos Energy Corp.	996,775
8,779	Avista Corp.	342,820
6,407	Black Hills Corp.	425,873
5,755	California Water Service Group	206,317
33,596	CMS Energy Corp.	1,503,085
36,600	Consolidated Edison, Inc.	2,842,356
35,996	Crown Castle International Corp.	3,399,822
43,362	Dominion Resources, Inc.	3,363,590
21,536	DTE Energy Co.	2,199,041
39,753	Duke Energy Corp.	3,260,144
39,089	Edison International	3,111,875
5,972	El Paso Electric Co.	301,586
38,019	Eversource Energy	2,234,757
25,842	Great Plains Energy, Inc.	755,103
6,047	IDACORP, Inc.	501,659
38,808	NiSource, Inc.	923,242
4,041	Northwest Natural Gas Co.	238,823
6,623	NorthWestern Corp.	388,770
7,200	ONE Gas, Inc.	486,720
50,447	PG&E Corp.	3,347,663
13,358	Pinnacle West Capital Corp.	1,113,790
11,214	PNM Resources, Inc.	414,918
10,672	Portland General Electric Co.	474,050
81,552	PPL Corp.	3,049,229
14,660	SBA Communications Corp. (a)	1,764,624
17,147	SCANA Corp.	1,120,556
30,001	Sempra Energy	3,315,111
1,405	SJW Corp.	67,749
5,697	Southwest Gas Corp.	472,338
6,096	Spire, Inc.	411,480
69,098	The Southern Co.	3,439,698
37,866	WEC Energy Group, Inc.	2,295,816
17,042	Westar Energy, Inc.	924,869
60,855	Xcel Energy, Inc.	2,705,005

				64,939,800
		Total Common Stocks
		(Cost $141,140,725)		162,090,143
CLOSED-END FUNDS 0.9%
		United Kingdom  0.9%
	414,492	HICL Infrastructure Co. Ltd.		877,644
	338,970	International Public Partnerships Ltd.		662,524
				1,540,168
		Total Closed-End Funds
		(Cost $1,629,612)		1,540,168
SHORT-TERM INVESTMENTS 0.4%
		Investment Company 0.4%
	644,149	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		644,149
		Total Short-Term Investments
		(Cost $644,149)		644,149
		Total Investments 99.7%
		(Cost $143,414,486)		164,274,460
		Other Assets in Excess of Liabilities 0.3%		538,724
		TOTAL NET ASSETS 100.0%	$	164,813,184

(a) Non-Income Producing.
ADR - American Depositary Receipt
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	143,414,486
Gross unrealized appreciation	$	28,980,131
Gross unrealized depreciation		(8,120,157	)
Net unrealized appreciation	$	20,859,974
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier Silk Invest New Horizons Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 80.6%
		Argentina  10.4%
	56,000	Adecoagro SA (a)	$	641,760
	59,000	Grupo Clarin SA - GDR		1,640,200
	22,085	Grupo Financiero Galicia SA - ADR		836,138
	101,371	Telecom Argentina SA - ADR		2,249,422
				5,367,520
		Bangladesh  11.0%
	1,440,000	Beximco Pharmaceuticals Ltd.		1,981,139
	1,367,000	BRAC Bank Ltd.		1,477,515
	540,300	GrameenPhone Ltd.		2,235,586
				5,694,240
		Egypt  3.7%
	766,500	Egyptian Financial Group-Hermes Holding Co. (a)		1,107,497
	4,585,000	Palm Hills Developments SAE		823,014
				1,930,511
		Ghana  2.1%
	333,700	Ecobank Ghana Ltd. (b)		566,140
	410,400	Ghana Commercial Bank Ltd. (b)		496,298
				1,062,438
		Kenya  9.8%
	2,490,670	Centum Investment Co. Ltd. (b)		833,444
	4,356,907	Equity Group Holdings Ltd.		1,394,548
	4,645,224	KCB Group Ltd.		1,565,679
	7,336,906	Safaricom Ltd.		1,280,935
				5,074,606
		Morocco  6.8%
	79,567	Auto Hall (b)		854,912
	294,650	Douja Promotion Groupe Addoha SA		1,261,351
	10,740	Label Vie		1,430,704
				3,546,967
		Nigeria  10.7%
	18,815,504	Guaranty Trust Bank PLC		1,527,963
	14,452,989	Lafarge Africa PLC		2,025,394
	332,388	Nestle Nigeria PLC		814,543
	25,169,452	Zenith Bank PLC		1,155,467
				5,523,367
		Oman  2.0%
	734,950	Ooredoo		1,030,839
		Pakistan  13.1%
	1,700,000	Adamjee Insurance Co. Ltd.		1,226,471
	1,350,500	Bank Al Habib Ltd.		689,872
	710,000	Cherat Cement Co. Ltd.		1,295,041
	365,000	Engro Corp. Ltd.		1,281,382
	170,500	Lucky Cement Ltd.		1,361,967
	420,000	United Bank Ltd.		911,997
				6,766,730
		Qatar  1.9%
	37,520	Ooredoo QSC		996,161
		Sri Lanka  2.0%
	603,869	Sampath Bank PLC		1,028,081
		United Arab Emirates  7.1%
	709,080	Agthia Group PJSC		1,242,165
	2,709,000	Air Arabia PJSC		782,092
	838,100	Emaar Properties PJSC		1,666,881
				3,691,138
		Total Common Stocks
		(Cost $40,421,545)		41,712,598

PARTICIPATION (EQUITY LINKED) NOTES (c) 16.2%
		Saudi Arabia  13.1%
	30,440	Abdullah Al Othaim Markets Co., Issued by EFG Hermes MENA Securities Ltd., Expires 12/11/2018 (a)		892,929
	11,380	Abdullah Al Othaim Markets Co., Issued by Morgan Stanley BV, Expires 08/28/2017 (a)		333,821
	104,160	Al Khaleej Training and Education Co., Issued by Credit Suisse AG, Expires 08/27/2018		527,431
	178,460	Al Khaleej Training and Education Co., Issued by Morgan Stanley BV, Expires 01/29/2018		903,662
	25,800	BUPA Arabia for Cooperative Insurance Co., Issued by Morgan Stanley BV, Expires 02/12/2018		804,906
	39,060	Herfy Food Services Co. Ltd., Issued by EFG Hermes MENA Securities Ltd., Expires 01/30/2019		861,867
	24,180	Herfy Food Services Co. Ltd., Issued by Morgan Stanley BV, Expires 02/14/2018		533,536
	129,066	Samba Financial Group, Issued by Credit Suisse AG, Expires 02/04/2019		738,552
	34,320	Saudia Dairy & Foodstuff Co., Issued by Morgan Stanley BV, Expires 02/12/2018		1,210,180
				6,806,884
		United Arab Emirates  3.1%
	190,140	Agthia Group PJSC, Issued by Deutsche Bank AG, Expires 05/15/2017 (a)		332,870
	1,435,000	Air Arabia PJSC, Issued by Deutsche Bank AG, Expires 07/31/2017		414,141
	424,809	Emaar Properties PJSC, Issued by Morgan Stanley BV, Expires 12/07/2017		844,321
				1,591,332
		Total Participation (Equity Linked) Notes
		(Cost $8,358,323)		8,398,216
SHORT-TERM INVESTMENTS 2.1%
		Investment Company 2.1%
	1,075,374	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		1,075,374
		Total Short-Term Investments
		(Cost $1,075,374)		1,075,374
		Total Investments 98.9%
		(Cost $49,855,242)		51,186,188
		Other Assets in Excess of Liabilities 1.1%		576,107
		TOTAL NET ASSETS 100.0%	$	51,762,295

(a) Non-Income Producing.

(b) Illiquid security, pursuant to guidelines established by the Board of Directors.  The Fund may invest up to 15% of its net assets in illiquid securities.  A security may be considered illiquid if it lacks a readily available market.  Securities are generally considered liquid if they can be sold or disposed of in the ordinary course of business within seven calendar days at approximately the price at which the security is valued by the Fund.  Illiquid securities may be valued under methods approved by the Board as reflecting fair value.  As of March 31, 2017, illiquid securities held in the Fund represented 11.2% of total net assets.

(c) Participation (Equity Linked) Notes ("P-Notes") allow an indirect investment in foreign securities without registration in those markets.  In addition to normal risks associated with direct investments, P-Notes are also subject to counterparty risk.  The performance results of P-Notes will not exactly replicate the performance of the underlying securities due to transaction costs and other expenses.  P-Notes are restricted securities that have been purchased through a private offering and cannot be resold to the general public without prior registration under the Securities Act of 1933, as amended (the “Act”), pursuant to the resale limitations provided by Rule 144A or Regulation S under the Act, or an exemption from the registration requirements of the Act.  Whether a restricted security is illiquid is determined pursuant to guidelines established by the Fund's Board of Directors.  None of the Fund's restricted securities are considered to be illiquid.  As of March 31, 2017, Rule 144A and Regulation S securities held in the Fund represented 16.2% of total net assets.

ADR - American Depositary Receipt

GDR - Global Depositary Receipt

The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:

Cost of investments	$	49,855,242
Gross unrealized appreciation	$	5,773,003
Gross unrealized depreciation		(4,442,057	)
Net unrealized appreciation	$	1,330,946
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier Timpani Small Cap Growth Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 97.1%
		Consumer Discretionary  16.9%
	8,828	2U, Inc. (a)	$	350,118
	6,675	Bojangles', Inc. (a)		136837
	7,494	Central Garden & Pet Co. (a)		277,803
	17,979	Century Communities, Inc. (a)		456,667
	53,697	Chegg, Inc. (a)		453,203
	9,260	Dave & Buster's Entertainment, Inc. (a)		565,693
	4,049	Duluth Holdings, Inc. - Class B (a)		86,203
	6,237	Fox Factory Holding Corp. (a)		179,002
	10,339	Grand Canyon Education, Inc. (a)		740,376
	14,231	Nutrisystem, Inc.		789,820
	21,500	Ollie's Bargain Outlet Holdings, Inc. (a)		720,250
	2,101	Panera Bread Co. - Class A (a)		550,189
	14,240	Planet Fitness, Inc. - Class A		274,405
	7,672	Stamps.com, Inc. (a)		907,981
	4,396	The Children's Place, Inc.		527,740
	2,300	Visteon Corp. (a)		225,285
				7,241,572
		Consumer Staples  2.3%
	36,121	New Age Beverages Corp. (a)		149,180
	31,780	Primo Water Corp. (a)		431,572
	10,283	Snyder's-Lance, Inc.		414,508
				995,260
		Energy 1.4%
	12,766	Matador Resources Co. (a)		303,703
	15,505	RPC, Inc.		283,897
				587,600
		Financial Services  7.3%
	11,265	Bankrate, Inc. (a)		108,707
	14,751	Green Dot Corp. - Class A (a)		492,093
	7,728	LendingTree, Inc. (a)		968,705
	18,702	Square, Inc. - Class A (a)		323,171
	7,519	Texas Capital Bancshares, Inc. (a)		627,461
	12,716	Western Alliance Bancorp (a)		624,228
				3,144,365
		Health Care  19.5%
	3,868	Addus HomeCare Corp. (a)		123,776
	28,656	AxoGen, Inc. (a)		299,455
	15,069	BioTelemetry, Inc. (a)		436,248
	15,626	Cardiovascular Systems, Inc. (a)		441,825
	3,234	Clovis Oncology, Inc. (a)		205,909
	10,847	Cotiviti Holdings, Inc. (a)		451,561
	11,258	Cytokinetics, Inc. (a)		144,665
	12,305	Glaukos Corp. (a)		631,246
	8,983	Heska Corp. (a)		943,035
	10,798	Inogen, Inc. (a)		837,493
	2,514	Ligand Pharmaceuticals, Inc. (a)		266,082
	4,174	Nevro Corp. (a)		391,104
	10,202	NuVasive, Inc. (a)		761,885
	6,648	Penumbra, Inc. (a)		554,776
	10,170	PRA Health Sciences, Inc. (a)		663,389

16,923	Supernus Pharmaceuticals, Inc. (a)	529,690
13,020	Vocera Communications, Inc. (a)	323,287
11,770	Wright Medical Group NV (a)	366,282
		8,371,708
	Materials & Processing  3.8%
8,006	Foundation Building Materials, Inc. (a)	127,856
4,540	Patrick Industries, Inc. (a)	321,886
3,103	RBC Bearings, Inc. (a)	301,270
24,329	Summit Matierals, Inc. - Class A (a)	601,169
4,123	U.S. Concrete, Inc. (a)	266,140
		1,618,321
	Producer Durables  15.2%
10,935	Advanced Energy Industries, Inc. (a)	749,704
30,397	Air Transport Services Group, Inc. (a)	487,872
6,189	Atkore International Group, Inc. (a)	162,647
8,445	Dycom Industries, Inc. (a)	784,963
7,349	John Bean Technologies Corp.	646,345
5,496	Kennametal, Inc.	215,608
3,675	Knight Transportation, Inc.	115,211
17,215	Kornit Digital Ltd. (a)	328,807
19,800	MasTec, Inc. (a)	792,990
13,224	NV5 Global, Inc. (a)	497,222
5,335	Old Dominion Freight Line, Inc.	456,516
3,385	OSI Systems, Inc. (a)	247,071
15,480	Polar Power, Inc. (a)	128,484
19,292	Quanta Services, Inc. (a)	715,926
6,165	Tutor Perini Corp. (a)	196,047
		6,525,413
	Technology  29.9%
7,752	Alarm.com Holdings, Inc. (a)	238,296
9,767	Asure Software, Inc. (a)	100,405
8,783	Axcelis Technologies, Inc. (a)	165,121
5,053	BlackLine, Inc. (a)	150,377
40,599	Carbonite, Inc. (a)	824,160
16,399	CEVA, Inc. (a)	582,164
6,157	Coherent, Inc. (a)	1,266,125
26,840	Evolent Health, Inc. - Class A (a)	598,532
4,666	Fabrinet (a)	196,112
55,193	Five9, Inc. (a)	908,477
14,088	GTT Communications, Inc. (a)	343,043
10,444	Hortonworks, Inc. (a)	102,456
5,149	iRobot Corp. (a)	340,555
1,813	LogMeIn, Inc.	176,768
18,235	Lumentum Holdings, Inc. (a)	972,837
8,801	Mercury Systems, Inc. (a)	343,679
23,571	Oclaro, Inc. (a)	231,467
14,296	Orbotech Ltd. (a)	461,046
11,048	Q2 Holdings, Inc. (a)	385,023
18,470	RADCOM Ltd. (a)	397,105
19,752	RealPage, Inc. (a)	689,345
11,455	RingCentral, Inc. - Class A (a)	324,177
5,568	Rudolph Technologies, Inc. (a)	124,723
7,748	Shopify, Inc. - Class A (a)	527,561
20,815	TTM Technologies , Inc. (a)	335,746

	23,898	Varonis Systems, Inc. (a)		759,956
	9,109	Veeva Systems, Inc. - Class A (a)		467,109
	16,884	Viavi Solutions, Inc. (a)		180,997
	9,656	Wix.com Ltd. (a)		655,642
				12,849,004
		Utilities  0.8%
	27,472	Boingo Wireless, Inc. (a)		356,861
		Total Common Stocks
		(Cost $31,275,352)		41,690,104
SHORT-TERM INVESTMENTS 2.7%
		Investment Company 2.7%
	1,165,666	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		1,165,666
		Total Short-Term Investments
		(Cost $1,165,666)		1,165,666
		Total Investments 99.8%
		(Cost $32,441,018)		42,855,770
		Other Assets in Excess of Liabilities 0.2%		83,426
		TOTAL NET ASSETS 100.0%	$	42,939,196

(a) Non-Income Producing.
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	32,441,018
Gross unrealized appreciation	$	10,558,301
Gross unrealized depreciation		(143,549	)
Net unrealized appreciation	$	10,414,752
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier Netols Small Cap Value Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 97.4%
		Consumer Discretionary  13.6%
	23,286	Bob Evans Farms, Inc.	$	1,510,563
	9,705	Carter's, Inc.		871,509
	29,987	Ethan Allen Interiors, Inc.		919,101
	67,010	Lumber Liquidators Holdings, Inc. (a)		1,406,540
	14,338	Matthews International Corp. - Class A		969,966
	39,464	Motorcar Parts of America, Inc. (a)		1,212,729
	117,933	Noodles & Co. (a)		678,115
	15,068	Tenneco, Inc.		940,544
	11,827	The Cheesecake Factory, Inc.		749,359
				9,258,426
		Consumer Staples  3.0%
	20,966	Cal-Maine Foods, Inc.		771,549
	11,161	Casey's General Stores, Inc.		1,252,822
				2,024,371
		Energy  5.6%
	90,171	Bill Barrett Corp. (a)		410,278
	199,473	McDermott International, Inc. (a)		1,346,443
	24,007	Oil States International, Inc. (a)		795,832
	115,592	SRC Energy, Inc. (a)		975,596
	100,940	Willbros Group, Inc. (a)		276,575
				3,804,724
		Financials  24.4%
	34,949	BancorpSouth, Inc.		1,057,207
	23,292	Blackhawk Network Holdings, Inc. (a)		945,655
	46,004	CenterState Banks, Inc.		1,191,504
	18,336	Community Bank System, Inc.		1,008,113
	31,170	Glacier Bancorp, Inc.		1,057,598
	144,995	MGIC Investment Corp. (a)		1,468,799
	57,445	Old National Bancorp		996,671
	32,143	Selective Insurance Group, Inc.		1,515,542
	42,295	State Bank Financial Corp.		1,104,745
	65,395	Sterling Bancorp		1,549,862
	15,576	The Hanover Insurance Group, Inc.		1,402,775
	30,948	Union Bankshares Corp.		1,088,751
	24,743	Webster Financial Corp.		1,238,140
	26,023	WesBanco, Inc.		991,737
				16,617,099
		Health Care  7.3%
	55,341	Albany Molecular Research, Inc. (a)		776,434
	22,325	CONMED Corp.		991,453
	24,706	Integra LifeSciences Holdings Corp. (a)		1,040,864
	70,029	Invacare Corp.		833,345
	76,283	Kindred Healthcare, Inc.		636,963
	10,219	U.S. Physical Therapy, Inc.		667,301
				4,946,360
		Industrials  17.7%
	28,470	ArcBest Corp.		740,220
	35,825	Brady Corp. - Class A		1,384,636
	49,452	Briggs & Stratton Corp.		1,110,197
	15,834	CIRCOR International, Inc.		941,173
	70,965	Commercial Vehicle Group, Inc. (a)		480,433
	55,079	General Cable Corp.		988,668
	12,332	Genesee & Wyoming, Inc. - Class A (a)		836,850

	17,123	Herman Miller, Inc.		540,231
	38,245	PGT, Inc. (a)		411,134
	8,857	Standex International Corp.		887,029
	33,818	Thermon Group Holdings, Inc. (a)		704,767
	38,601	TriMas Corp. (a)		800,971
	17,008	Triumph Group, Inc.		437,956
	7,662	United Rentals, Inc. (a)		958,133
	10,842	Wabtec Corp.		845,676
				12,068,074
		Information Technology  16.5%
	188,785	Avid Technology, Inc. (a)		879,738
	34,812	Bottomline Technologies (de), Inc. (a)		823,304
	11,642	CACI International, Inc. - Class A (a)		1,365,606
	54,715	Entegris, Inc. (a)		1,280,331
	9,817	Fair Isaac Corp.		1,265,902
	88,022	FormFactor, Inc. (a)		1,043,061
	120,174	Harmonic, Inc. (a)		715,035
	31,003	ManTech International Corp. - Class A		1,073,634
	20,440	Plexus Corp. (a)		1,181,432
	22,194	Progress Software Corp.		644,736
	51,054	VeriFone Systems, Inc. (a)		956,241
				11,229,020
		Materials  4.5%
	3,232	Acuity Brands, Inc.		659,328
	20,228	Carpenter Technology Corp.		754,504
	11,128	Sensient Technologies Corp.		882,005
	25,886	Unifi, Inc. (a)		734,904
				3,030,741
		Real Estate Investment Trusts  4.8%
	24,396	Education Realty Trust, Inc.		996,577
	36,095	First Industrial Realty Trust, Inc.		961,210
	16,734	Sun Communities, Inc.		1,344,242
				3,302,029
		Total Common Stocks
		(Cost $43,247,985)		66,280,844
SHORT-TERM INVESTMENTS 2.4%
		Investment Company 2.4%
	1,668,541	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		1,668,541
		Total Short-Term Investments
		(Cost $1,668,541)		1,668,541
		Total Investments 99.8%
		(Cost $44,916,526)		67,949,385
		Other Assets in Excess of Liabilities 0.2%		128,434
		TOTAL NET ASSETS 100.0%	$	68,077,819

(a) Non-Income Producing.
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	44,916,526
Gross unrealized appreciation	$	25,207,444
Gross unrealized depreciation		(2,174,585	)
Net unrealized appreciation	$	23,032,859
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Frontier Phocas Small Cap Value Fund
SCHEDULE OF INVESTMENTS
March 31, 2017 (Unaudited)
Number of Shares			Value
COMMON STOCKS 96.8%
		Consumer Discretionary  10.6%
	3,035	Columbia Sportswear Co.	$	178,306
	3,416	Dick's Sporting Goods, Inc.		166,223
	19,015	Entercom Communications Corp. - Class A		271,914
	32,731	J.C. Penney Co., Inc. (a)		201,623
	5,408	Meredith Corp.		349,357
	13,545	Modine Manufacturing Co. (a)		165,249
	14,535	National CineMedia, Inc.		183,577
	5,288	Nexstar Media Group, Inc.		370,953
	86,370	Office Depot, Inc.		402,916
	3,239	Red Robin Gourmet Burgers, Inc. (a)		189,320
	12,990	Sinclair Broadcast Group, Inc. - Class A		526,095
	9,044	TopBuild Corp. (a)		425,068
	13,160	Tower International, Inc.		356,636
				3,787,237
		Consumer Staples  1.5%
	7,105	Snyder's-Lance, Inc.		286,403
	4,270	USANA Health Sciences, Inc. (a)		245,952
				532,355
		Energy  5.3%
	2,899	Basic Energy Services, Inc (a)		96,711
	24,613	Callon Petroleum Co. (a)		323,907
	7,255	Carrizo Oil & Gas, Inc. (a)		207,928
	5,866	PDC Energy, Inc. (a)		365,745
	4,225	Resolute Energy Corp. (a)		170,690
	40,580	Ring Energy, Inc (a)		439,076
	20,318	Superior Energy Services, Inc. (a)		289,735
				1,893,792
		Financials  31.7%
	10,389	Banner Corp.		578,044
	10,690	Boston Private Financial Holdings, Inc.		175,316
	4,292	Brown & Brown, Inc.		179,062
	9,929	Bryn Mawr Bank Corp.		392,195
	6,640	Capital Bank Financial Corp.		288,176
	23,189	CenterState Banks, Inc.		600,595
	33,522	CNO Financial Group, Inc.		687,201
	11,507	Cowen Group, Inc. - Class A (a)		172,030
	4,061	Enterprise Financial Services Corp.		172,186
	41,995	F.N.B. Corp.		624,461
	3,954	First American Financial Corp.		155,313
	4,321	First Interstate BancSystem, Inc. - Class A		171,328
	3,507	Franklin Financial Network, Inc. (a)		135,896
	21,160	Green Bancorp, Inc. (a)		376,648
	8,180	Guaranty Bancorp		199,183
	12,214	Heartland Financial USA, Inc.		610,089
	16,884	Heritage Commerce Corp.		238,064
	13,430	Heritage Financial Corp.		332,393
	37,262	Heritage Oaks Bancorp		497,448
	7,246	IBERIABANK Corp.		573,159
	6,710	OneMain Holdings, Inc. (a)		166,744
	4,343	Pacific Premier Bancorp, Inc. (a)		167,423
	18,071	Park Sterling Corp.		222,454
	3,165	Primerica, Inc.		260,163
	22,789	Radian Group, Inc.		409,290
	7,613	Selective Insurance Group, Inc.		358,953
	15,614	State Bank Financial Corp.		407,838
	3,420	Stifel Financial Corp. (a)		171,650
	11,776	Synovus Financial Corp.		483,052
	11,873	TriCo Bancshares		421,848

23,480	United Community Banks, Inc.	650,161
6,702	Wintrust Financial Corp.	463,242
		11,341,605
	Health Care  2.9%
3,458	Envision Healthcare Corp. (a)	212,044
2,363	PAREXEL International Corp. (a)	149,129
9,345	PharMerica Corp. (a)	218,673
50,106	Progenics Pharmaceuticals, Inc. (a)	473,001
		1,052,847
	Industrials  13.9%
4,768	ABM Industries, Inc.	207,885
5,771	Astec Industries, Inc.	354,888
31,200	CBIZ, Inc. (a)	422,760
6,778	Deluxe Corp.	489,168
4,289	EMCOR Group, Inc.	269,993
4,124	Esterline Technologies Corp. (a)	354,870
10,203	General Cable Corp.	183,144
10,662	Gibraltar Industries, Inc. (a)	439,274
5,718	Kadant, Inc.	339,363
10,359	MYR Group, Inc. (a)	424,719
3,843	On Assignment, Inc. (a)	186,501
15,958	SkyWest, Inc.	546,561
8,356	Tetra Tech, Inc.	341,343
9,221	The Timken Company	416,789
		4,977,258
	Information Technology  10.6%
2,144	CACI International, Inc. - Class A (a)	251,491
2,389	Cass Information Systems, Inc.	157,913
31,416	Cypress Semiconductor Corp.	432,284
6,363	MKS Instruments, Inc.	437,456
16,531	NCR Corp. (a)	755,136
15,330	Photronics, Inc. (a)	164,031
3,269	Plexus Corp. (a)	188,948
6,228	Progress Software Corp.	180,924
6,066	Science Applications International Corp.	451,311
5,172	Silicon Motion Technology Corp. - ADR	241,791
8,392	VASCO Data Security International, Inc. (a)	113,292
6,720	Verint Systems, Inc. (a)	291,480
6,538	Web.com Group, Inc. (a)	126,183
		3,792,240
	Materials  5.2%
21,109	Ferro Corp. (a)	320,646
3,467	HB Fuller Co.	178,758
2,923	Kaiser Aluminum Corp.	233,548
11,403	KapStone Paper and Packaging Corp.	263,409
9,203	Materion Corp.	308,760
4,257	Sensient Technologies Corp.	337,410
12,611	TimkenSteel Corp. (a)	238,474
		1,881,005
	Real Estate Investment Trusts  9.6%
11,042	Acadia Realty Trust	331,923
8,530	Chatham Lodging Trust	168,468
36,663	Colony NorthStar, Inc. - Class A	473,319
5,928	CoreSite Realty Corp.	533,816
10,598	Hudson Pacific Properties, Inc.	367,115
14,591	National Storage Affiliates Trust	348,725
5,742	Pebblebrook Hotel Trust	167,724
15,673	Rexford Industrial Realty, Inc.	352,956
7,207	Sabra Health Care REIT, Inc.	201,291
3,230	Seritage Growth Properties - Class A	139,374
4,503	Sun Communities, Inc.	361,726
		3,446,437
	Utilities  5.5%
3,675	Black Hills Corp.	244,277
14,396	Calpine Corp. (a)	159,076
5,103	Chesapeake Utilities Corp.	353,128

	2,522	IDACORP, Inc.		209,225
	7,816	PNM Resources, Inc.		289,192
	5,431	Portland General Electric Co.		241,245
	5,389	South Jersey Industries, Inc.		192,118
	3,964	Spire, Inc.		267,570
				1,955,831
		Total Common Stocks
		(Cost $25,505,397)		34,660,607
SHORT-TERM INVESTMENTS 1.9%
		Investment Company 1.9%
	678,402	Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Class, 0.64%		678,402
		Total Short-Term Investments
		(Cost $678,402)		678,402
		Total Investments 98.7%
		(Cost $26,183,799)		35,339,009
		Other Assets in Excess of Liabilities 1.3%		464,849
		TOTAL NET ASSETS 100.0%	$	35,803,858

(a) Non-Income Producing.
ADR - American Depositary Receipt
The cost basis of investments for federal income tax purposes at March 31, 2017, was as follows*:
Cost of investments	$	26,183,799
Gross unrealized appreciation	$	9,686,433
Gross unrealized depreciation		(531,223	)
Net unrealized appreciation	$	9,155,210
*Because tax adjustments are calculated annually at the end of the Fund’s fiscal year, the above table does not reflect tax adjustments for the current fiscal year.
For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

Investment Valuation - Equity securities for which market quotations are readily available are valued at the last reported sale price on the national securities exchange on which such securities are primarily traded. Equity securities for which there were no transactions on a given day or securities not listed on a national securities exchange are valued at the most recent bid price. Equity securities that are traded on NASDAQ are valued using the NASDAQ Official Closing Price ("NOCP"). Participation (Equity Linked) Notes (“P-Notes”) are valued based on an evaluated price provided by an independent pricing service, using a methodology for P-Notes provided by a third-party analytics firm. Debt securities are valued at the bid price provided by an independent pricing service, which uses valuation methods such as matrix pricing and other analytical pricing models as well as market transactions and dealer bid quotations. Shares of underlying mutual funds are valued at their respective Net Asset Value (“NAV”). Exchange-traded funds and closed-end funds are valued at the last reported sale price on the exchange on which the security is principally traded. Securities that are primarily traded on foreign exchanges generally are valued at the last sale price of such securities on their respective exchange. In the case of foreign securities, the occurrence of events after the close of the foreign markets, but prior to the time the Fund’s NAV is calculated, will result in a systematic fair value adjustment to the trading prices of foreign securities. The Fund will value foreign securities at fair value using fair valuation procedures approved by the Board of Directors (the "Board"), taking into account such events in calculating the NAV. In such cases, use of fair valuation can reduce an investor’s ability to seek to profit by estimating the Fund’s NAV in advance of the time the NAV is calculated. The Board has retained an independent fair value pricing service to assist in valuing foreign securities held by the Frontier MFG Global Equity, Frontier MFG Global Plus, Frontier MFG Core Infrastructure and Frontier Silk Invest New Horizons Funds. In valuing assets, prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Any securities or other assets for which market quotations are not readily available are valued at their fair value as determined in good faith by the advisers or subadvisers pursuant to guidelines established by the Board.

The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs are used in determining the value of each Fund's investments and are summarized in the following fair value hierarchy:

Level 1 — Quoted prices in active markets for identical securities

Level 2 — Evaluated prices based on other significant observable inputs (including quoted prices for similar securities, foreign security indices, foreign exchange rates, fair value estimates for foreign securities and changes in benchmark securities indices)

Level 3 — Significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)

The following is a summary of inputs used to value the Funds' securities as of March 31, 2017:

MFG Global Equity
Description	Level 1		Level 2		Level 3		Total
Equity (a)
Common Stocks	$	924,663,225	$	-	$	-	$	924,663,225
Total Equity		924,663,225		-		-		924,663,225
Short-Term Investments		157,763,410		-		-		157,763,410
Total Investments in Securities	$	1,082,426,635	$	-	$	-	$	1,082,426,635
MFG Global Plus
Description	Level 1		Level 2		Level 3		Total
Equity (a)
Common Stocks	$	152,869,091	$	-	$	-	$	152,869,091
Total Equity		152,869,091		-		-		152,869,091
Short-Term Investments		27,033,242		-		-		27,033,242
Total Investments in Securities	$	179,902,333	$	-	$	-	$	179,902,333
MFG Core Infrastructure
Description	Level 1		Level 2		Level 3		Total
Equity (a)
Common Stocks	$	162,090,143	$	-	$	-	$	162,090,143
Closed-End Funds		1,540,168		-		-		1,540,168
Total Equity		163,630,311		-		-		163,630,311
Short-Term Investments		644,149		-		-		644,149
Total Investments in Securities	$	164,274,460	$	-	$	-	$	164,274,460
Silk Invest New Horizons
Description	Level 1		Level 2		Level 3		Total
Equity (a)
Common Stocks	$	25,997,023	$	15,715,575	$	-	$	41,712,598
P-Notes		-		8,398,216		-		8,398,216
Total Equity		25,997,023		24,113,791		-		50,110,814
Short-Term Investments		1,075,374		-		-		1,075,374
Total Investments in Securities	$	27,072,397	$	24,113,791	$	-	$	51,186,188

Timpani Small Cap Growth
Description	Level 1			Level 2			Level 3			Total
Equity (a)
Common Stocks	$	41,690,104		$	-		$	-		$	41,690,104
Total Equity		41,690,104			-			-			41,690,104
Short-Term Investments		1,165,666			-			-			1,165,666
Total Investments in Securities	$	42,855,770		$	-		$	-		$	42,855,770
Netols Small Cap Value
Description	Level 1			Level 2			Level 3			Total
Equity (a)
Common Stocks	$	66,280,844		$	-		$	-		$	66,280,844
Total Equity		66,280,844			-			-			66,280,844
Short-Term Investments		1,668,541			-			-			1,668,541
Total Investments in Securities	$	67,949,385		$	-		$	-		$	67,949,385
Phocas Small Cap Value
Description	Level 1			Level 2			Level 3			Total
Equity (a)
Common Stocks	$	34,660,607		$	-		$	-		$	34,660,607
Total Equity		34,660,607			-			-			34,660,607
Short-Term Investments		678,402			-			-			678,402
Total Investments in Securities	$	35,339,009		$	-		$	-		$	35,339,009
(a) See Fund's Schedule of Investments for sector or country classifications.
	MFG Global			MFG Global			MFG Core			Silk Invest
	Equity			Plus			Infrastructure			New Horizons
Transfers into Level 1	$	135,021,233		$	3,443,643		$	73,226,098		$	9,976,554
Transfers out of Level 2		(135,021,233	)		(3,443,643	)		(73,226,098	)		(9,976,554	)
Transfers into Level 2		-			-			-			3,496,936
Transfers out of Level 1		-			-			-			(3,496,936	)
Net transfers	$	-		$	-		$	-		$	-

Tax Disclosure – Each Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as a regulated investment company and to make the requisite distributions of income and capital gains to its shareholders sufficient to relieve it from all or substantially all federal income taxes.  Therefore, no federal income tax provision has been provided.

The Funds have adopted financial reporting rules regarding recognition and measurement of tax positions taken or expected to be taken on a tax return.  The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense on the Statement of Operations.  During the period, the Funds did not incur any interest or penalties.  The Funds have reviewed all open tax years and concluded that there is no effect to any of the Funds’ financial positions or results of operations and no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken on a tax return.  The Funds have no examinations in progress.  The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change during the remainder of the fiscal year.

As of June 30, 2016, the Frontier Timpani Small Cap Growth Fund had a short-term capital loss carryforward that will not expire of $3,970,619.

For additional information regarding the accounting policies of the Funds, refer to the most recent financial statements in the N-CSR filing at www.sec.gov.

Item 2. Controls and Procedures.

(a) The Registrant’s President/Chief Executive Officer and Treasurer/Chief Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)).  Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Frontier Funds, Inc.

By    /s/ William D. Forsyth III

William D. Forsyth III, President

(Principal Executive Officer)

Date  5/26/2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By    /s/ William D. Forsyth III

William D. Forsyth III, President

(Principal Executive Officer)

Date  5/26/2017

By    /s/ Elyce D. Dilworth

Elyce D. Dilworth, Treasurer and Assistant Secretary

(Principal Financial Officer)

Date  5/26/2017