# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0000315774-25-000019
**Filing Date:** 2025-8
**Character Count:** 33751
**Document Hash:** 47279eac6971f9fad5ca7873947e61d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000315774-25-000019.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0000315774-25-000019

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORUM FUNDS
- **CENTRAL INDEX KEY:** 0000315774

**ORGANIZATION NAME:**
- **EIN:** 010516963
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03023
- **FILM NUMBER:** 251215759

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 2073472000

**MAIL ADDRESS:**
- **STREET 1:** FORUM FUNDS
- **STREET 2:** THREE CANAL PLAZA
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FORUM FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FAHNESTOCK DAILY INCOME FUND INC
- **DATE OF NAME CHANGE:** 19870617

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DAILY INCOME EXTENSION FUND INC
- **DATE OF NAME CHANGE:** 19810607

## Series and Classes Contracts Data

### Lisanti Small Cap Growth Fund (Series ID: S000004564)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000012485 | Lisanti Small Cap Growth Fund | ASCGX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-03023

- **c. CIK number of Registrant:** 0000315774

- **d. LEI of Registrant:** 549300LXYEU14CHGAO13

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

  - **Street Address 1:** THREE CANAL PLAZA, SUITE 600

  - **City:** PORTLAND

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

  - **Telephone number:** 207-347-2000

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

- **a. Name of Series:** LISANTI SMALL CAP GROWTH FUND

- **b. EDGAR series identifier (if any):** S000004564

- **c. LEI of Series:** 254900NCP1SN2FGLBO94

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $16877392.99

**Total Liabilities:** $36564.43

**Net Assets:** $16840828.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012485 | -0.81%               | 9.43%                | 7.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-682010.03              | $497372.59                                 |
| Month 2  | $-103197.63              | $1592553.64                                |
| Month 3  | $401047.99               | $877020.15                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADMA Biologics Inc             | ADMA Biologics, Inc.                      | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14860 | NS      | $270600.60    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc        | ANI Pharmaceuticals, Inc.                 | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |      4365 | NS      | $284816.25    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment, Inc.                       | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |       420 | NS      | $119679.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc       | Allegro MicroSystems, Inc.                | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5005 | NS      | $171120.95    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo, Inc.                                | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       690 | NS      | $38633.10     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp   | American Superconductor Corp.             | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |      8325 | NS      | $305444.25    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc        | Apogee Therapeutics, Inc.                 | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1185 | NS      | $51464.55     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp           | Applied Digital Corp.                     | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |      7815 | NS      | $78697.05     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies, Inc.     | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       475 | NS      | $110413.75    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                | Astera Labs, Inc.                         | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       875 | NS      | $79117.50     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp.                        | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     10605 | NS      | $253671.60    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.                  | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      2365 | NS      | $359480.00    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix, Inc.                               | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      1730 | NS      | $92018.70     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp.                | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       845 | NS      | $233541.10    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc           | Celsius Holdings, Inc.                    | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5345 | NS      | $247954.55    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp            | Centrus Energy Corp.                      | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |       875 | NS      | $160282.50    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries, Inc.                    | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |       735 | NS      | $121017.75    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The       | The Chefs' Warehouse, Inc.                | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |      1840 | NS      | $117410.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                            | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      1515 | NS      | $135153.15    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc          | Commvault Systems, Inc.                   | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      1790 | NS      | $312050.70    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Confluent Inc                  | Confluent, Inc.                           | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |      3875 | NS      | $96603.75     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc      | Construction Partners, Inc.               | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |      2860 | NS      | $303960.80    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc       | Corcept Therapeutics, Inc.                | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |      2140 | NS      | $157076.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs, Inc.                               | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      1410 | NS      | $142804.80    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                       | Dave, Inc.                                | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       865 | NS      | $232174.65    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                 | Dutch Bros, Inc.                          | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2660 | NS      | $181864.20    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries, Inc.                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |       530 | NS      | $129526.70    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| elf Beauty Inc                 | elf Beauty, Inc.                          | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      2125 | NS      | $264435.00    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks, Inc.                    | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |      6560 | NS      | $117752.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Treasury Obligations Fund  | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    214425 | NS      | $214424.56    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                 | Five Below, Inc.                          | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1590 | NS      | $208576.20    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp.                               | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      2250 | NS      | $115357.50    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc     | Grand Canyon Education, Inc.              | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |       775 | NS      | $146475.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc               | HealthEquity, Inc.                        | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |       770 | NS      | $80665.20     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health Inc               | Hinge Health, Inc.                        | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2730 | NS      | $141277.50    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc     | Huron Consulting Group, Inc.              | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |       705 | NS      | $96965.70     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                     | Impinj, Inc.                              | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      2160 | NS      | $239911.20    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                       | IonQ, Inc.                                | CUSIP: 46222L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       785 | NS      | $33731.45     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron, Inc.                               | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      1340 | NS      | $176384.20    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                 | JBT Marel Corp.                           | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |       819 | NS      | $98492.94     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc            | Karman Holdings, Inc.                     | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1840 | NS      | $92680.80     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                    | Klaviyo, Inc.                             | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6235 | NS      | $209371.30    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solu | Kratos Defense & Security Solutions, Inc. | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      5000 | NS      | $232250.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings, Inc.                   | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1690 | NS      | $138343.40    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LENZ Therapeutics Inc          | LENZ Therapeutics, Inc.                   | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2255 | NS      | $66094.05     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Limbach Holdings Inc           | Limbach Holdings, Inc.                    | CUSIP: 53263P105<br>LEI: 254900EW8KXT5ZTWQI30 | Long             | EC               | CORP              | US        |       760 | NS      | $106476.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings, Inc.                   | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      3910 | NS      | $371684.60    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp              | MP Materials Corp.                        | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |      7115 | NS      | $236716.05    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite, Inc.                             | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     17290 | NS      | $417034.80    | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec, Inc.                              | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      1400 | NS      | $238602.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems, Inc.                     | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |      5560 | NS      | $299461.60    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co.                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      3030 | NS      | $298455.00    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc   | National Vision Holdings, Inc.            | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |     15625 | NS      | $359531.25    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Navitas Semiconductor Corp     | Navitas Semiconductor Corp.               | CUSIP: 63942X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11725 | NS      | $76798.75     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                     | nLight, Inc.                              | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5110 | NS      | $100564.80    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holding | Ollie's Bargain Outlet Holdings, Inc.     | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      2085 | NS      | $274761.30    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp            | PAR Technology Corp.                      | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |      2275 | NS      | $157816.75    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems Inc                | Pegasystems, Inc.                         | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |      1990 | NS      | $107718.70    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos              | Piper Sandler Cos.                        | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |       490 | NS      | $136190.60    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BioRobotics Corp       | PROCEPT BioRobotics Corp.                 | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2700 | NS      | $155520.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                | Q2 Holdings, Inc.                         | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |      2800 | NS      | $262052.00    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| REV Group Inc                  | REV Group, Inc.                           | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               | CORP              | US        |      2205 | NS      | $104935.95    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc               | RBC Bearings, Inc.                        | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       655 | NS      | $252044.00    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sezzle Inc                     | Sezzle, Inc.                              | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |       715 | NS      | $128163.75    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp           | GeneDx Holdings Corp.                     | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2580 | NS      | $238159.80    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc            | Shift4 Payments, Inc.                     | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1620 | NS      | $160558.20    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                    | SI-BONE, Inc.                             | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |      6580 | NS      | $123835.60    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc       | Silicon Laboratories, Inc.                | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |      1310 | NS      | $193041.60    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals Inc        | ARS Pharmaceuticals, Inc.                 | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19250 | NS      | $335912.50    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp.                              | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       975 | NS      | $207753.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Gr | Skyward Specialty Insurance Group, Inc.   | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |      2595 | NS      | $149965.05    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc        | Soleno Therapeutics, Inc.                 | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |      1045 | NS      | $87550.10     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure, Inc.             | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      1460 | NS      | $336865.80    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                     | Stride, Inc.                              | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |      1135 | NS      | $164790.65    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies, Inc.                    | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |      2380 | NS      | $97151.60     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc       | Tandem Diabetes Care, Inc.                | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     11695 | NS      | $217994.80    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc     | Tarsus Pharmaceuticals, Inc.              | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3740 | NS      | $151507.40    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group, Inc.                   | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      1600 | NS      | $214416.00    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc               | UL Solutions, Inc.                        | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |      3795 | NS      | $276503.70    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute  | Universal Technical Institute, Inc.       | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |      1350 | NS      | $45751.50     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp            | Uranium Energy Corp.                      | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |     12370 | NS      | $84116.00     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp.                                 | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      1795 | NS      | $235109.10    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                   | Vericel Corp.                             | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |      3680 | NS      | $156584.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Verona Pharma PLC              | Verona Pharma PLC                         | CUSIP: 925050106<br>LEI: 213800EVI6O6J3TIAL06 | Long             | EC               | CORP              | GB        |      2110 | NS      | $199563.80    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc        | Viking Therapeutics, Inc.                 | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |      1770 | NS      | $46905.00     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc               | Warby Parker, Inc.                        | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3925 | NS      | $86075.25     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp         | WillScot Holdings Corp.                   | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |      2610 | NS      | $71514.00     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                    | Xometry, Inc.                             | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |      7445 | NS      | $251566.55    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp      | Zeta Global Holdings Corp.                | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |      6810 | NS      | $105486.90    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding | Credo Technology Group Holding, Ltd.      | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      4660 | NS      | $431469.40    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd              | Genius Sports, Ltd.                       | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     22175 | NS      | $230620.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                  | On Holding AG                             | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      3675 | NS      | $191283.75    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                      | JFrog, Ltd.                               | CUSIP: M6191J100<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      5010 | NS      | $219838.80    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-11

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer