# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0000315774-26-000148
**Filing Date:** 2026-5
**Character Count:** 40659
**Document Hash:** 37bb712268aa282b90d456b0fe0a0a91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000315774-26-000148.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0000315774-26-000148

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**PERIOD START**: 20261231

**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:** 26947117

**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           |

## Nport-Ex

Lisanti

Small

Cap

Growth

Fund

SCHEDULE

OF

INVESTMENTS

(Unaudited)

March

31,

2026

Shares

Security

Description

Value

Common

Stock

-

95.6%

Communication

Services

-

0.9%

10,415

Magnite,

Inc.

(a) $

123,730

Consumer

Discretionary

-

9.0%

605

Boot

Barn

Holdings,

Inc.

(a) 88,548

1,695

Cava

Group,

Inc.

(a) 137,125

4,635

Figs,

Inc.

(a) 68,459

835

Five

Below,

Inc.

(a) 190,781

Installed

Building

Products,

Inc.

90,151

7,550

National

Vision

Holdings,

Inc.

(a) 195,545

1,270

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a) 116,891

735

Patrick

Industries,

Inc.

81,636

1,055

Shake

Shack,

Inc.,

Class A

(a) 93,336

3,730

Universal

Technical

Institute,

Inc.

(a) 134,653

2,875

Warby

Parker,

Inc.,

Class A

(a) 60,576

1,257,701

Consumer

Staples

-

0.8%

1,865

Freshpet,

Inc.

(a) 109,960

Energy

-

8.2%

5,060

Matador

Resources

Co.

319,691

36,530

Patterson-UTI

Energy,

Inc.

395,620

9,045

ProPetro

Holding

Corp.

(a) 130,338

3,955

Solaris

Energy

Infrastructure,

Inc.,

Class A

223,497

840

Weatherford

International

PLC

79,447

1,148,593

Financials

-

1.8%

750

Enova

International,

Inc.

(a) 101,873

765

FirstCash

Holdings,

Inc.

143,820

245,693

Health-Care

-

22.5%

4,435

Alignment

Healthcare,

Inc.

(a) 78,145

1,770

Apogee

Therapeutics,

Inc.

(a) 148,981

4,620

Axogen,

Inc.

(a) 153,061

755

Axsome

Therapeutics,

Inc.

(a) 127,610

1,425

Bridgebio

Pharma,

Inc.

(a) 105,821

7,890

BrightSpring

Health

Services,

Inc.

(a) 336,193

Dianthus

Therapeutics,

Inc.

(a) 28,952

7,325

Guardian

Pharmacy

Services,

Inc.

(a) 275,860

1,880

Halozyme

Therapeutics,

Inc.

(a) 121,504

3,885

HeartFlow,

Inc.

(a) 94,522

1,465

Hinge

Health,

Inc.,

Class A

(a) 56,490

2,465

Ionis

Pharmaceuticals,

Inc.

(a) 185,097

1,990

KalVista

Pharmaceuticals,

Inc.

(a) 40,059

920

Kiniksa

Pharmaceuticals

International

PLC

(a) 44,298

Shares

Security

Description

Value

Health-Care

-

22.5%

(continued)

625

Krystal

Biotech,

Inc.

(a) $

161,450

1,285

Ligand

Pharmaceuticals,

Inc.

(a) 256,550

1,480

Mirum

Pharmaceuticals,

Inc.

(a) 136,722

1,580

Palvella

Therapeutics,

Inc.

(a) 196,947

5,335

Tandem

Diabetes

Care,

Inc.

(a) 102,272

1,175

Tarsus

Pharmaceuticals,

Inc.

(a) 82,426

1,035

The

Ensign

Group,

Inc.

208,553

1,630

Travere

Therapeutics,

Inc.

(a) 48,427

5,835

Waystar

Holding

Corp.

(a) 140,682

3,130,622

Industrials

-

29.1%

2,120

Allient,

Inc.

125,271

11,370

Amprius

Technologies,

Inc.

(a) 191,698

Argan,

Inc.

193,351

1,715

Astronics

Corp.

(a) 114,442

1,390

CECO

Environmental

Corp.

(a) 82,816

1,350

Construction

Partners,

Inc.,

Class A

(a) 150,012

570

Dycom

Industries,

Inc.

(a) 193,128

ESCO

Technologies,

Inc.

43,612

3,125

Firefly

Aerospace,

Inc.

(a) 88,969

5,875

Healthcare

Services

Group,

Inc.

(a) 108,981

539

JBT

Marel

Corp.

68,922

2,575

Karman

Holdings,

Inc.

(a) 206,129

5,440

Knight-Swift

Transportation

Holdings,

Inc.

313,235

2,165

Kratos

Defense

&

Security

Solutions,

Inc.

(a) 152,654

765

MasTec,

Inc.

(a) 246,131

2,445

Mercury

Systems,

Inc.

(a) 178,265

1,275

Modine

Manufacturing

Co.

(a) 276,305

1,675

Nextpower,

Inc.,

Class A

(a) 201,921

7,180

Planet

Labs

PBC

(a) 200,681

Powell

Industries,

Inc.

70,341

515

RBC

Bearings,

Inc.

(a) 279,707

1,320

SiteOne

Landscape

Supply,

Inc.

(a) 175,705

605

Sterling

Infrastructure,

Inc.

(a) 246,398

765

VSE

Corp.

141,066

4,049,740

Information

Technology

-

22.0%

15,270

ADTRAN

Holdings,

Inc.

(a) 192,096

810

Advanced

Energy

Industries,

Inc.

261,395

1,130

Clear

Secure,

Inc.,

Class A

54,703

2,570

DigitalOcean

Holdings,

Inc.

(a) 220,455

Fabrinet

(a) 216,431

990

FormFactor,

Inc.

(a) 96,020

3,785

JFrog,

Ltd.

(a) 177,630

7,525

Klaviyo,

Inc.,

Class A

(a) 146,436

Lisanti

Small

Cap

Growth

Fund

SCHEDULE

OF

INVESTMENTS

(Unaudited)

March

31,

2026

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's investments

as

of

March

31,

2026. The

Fund

has

a

three-tier

fair

value

hierarchy.

The

basis

of

the

tiers

is

dependent

upon

the

various

"inputs"

used

to

determine

the

value

of

the

Fund's

investments.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

–

quoted

prices

in

active

markets

for

identical

assets

Level

–

Prices

determined

using

significant

other

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Short-term

securities

with

maturities

of

sixty

days

or

less

are

valued

at

amortized

cost,

which

approximates

market

value,

and

are

categorized

as

Level

in

the

hierarchy.

Municipal

securities,

long-term

U.S.

government

obligations

and

corporate

debt

securities

are

valued

in

accordance

with

the

evaluated

price

supplied

by

the

pricing

service

and

generally

categorized

as

Level

in

the

hierarchy.

Other

securities

that

are

categorized

as

Level

in

the

hierarchy

include,

but

are

not

limited

to,

warrants

that

do

not

trade

on

an

exchange,

securities

valued

at

the

mean

between

the

last

reported

bid

and

ask

quotation

and

international

equity

securities

valued

by

an

independent

third

party

with

adjustments

for

changes

in

value

between

the

time

of

the

securities

respective

local

market

closes

and

the

close

of

the

U.S.

market.

Level

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

investments)

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

The

Level

value

displayed

in

this

table

is

Common

Stock

and

a

Money

Market

Fund.

Refer

to

this

Schedule

of

Investments

for

a

further

breakout

of

each

security

by

industry.

THE

PORTFOLIO

OF

INVESTMENTS

SHOULD

BE

READ

IN

CONJUNCTION

WITH

THE

FINANCIAL

STATEMENTS

AND

NOTES

TO

FINANCIAL

STATEMENTS

WHICH

ARE

INCLUDED

IN

THE

FUND'S

AUDITED

ANNUAL

REPORT

OR

SEMI-ANNUAL

REPORT.

THESE

REPORTS

INCLUDE

ADDITIONAL

INFORMATION

ABOUT

THE

FUND'S

SECURITY

VALUATION

POLICIES

AND

ABOUT

CERTAIN

SECURITY

TYPES

INVESTED

BY

THE

FUND.

Shares

Security

Description

Value

Information

Technology

-

22.0%

(continued)

1,985

Lattice

Semiconductor

Corp.

(a) $

184,129

MACOM

Technology

Solutions

Holdings,

Inc.

(a) 74,393

690

MKS,

Inc.

158,569

3,600

nLight,

Inc.

(a) 205,272

680

Onto

Innovation,

Inc.

(a) 139,448

3,680

PDF

Solutions,

Inc.

(a) 120,373

1,030

Semtech

Corp.

(a) 79,197

1,140

Silicon

Motion

Technology

Corp.,

ADR

128,011

SiTime

Corp.

(a) 138,140

1,570

TTM

Technologies,

Inc.

(a) 152,949

3,035

Ultra

Clean

Holdings,

Inc.

(a) 188,716

2,135

Viavi

Solutions,

Inc.

(a) 71,053

3,825

Zeta

Global

Holdings

Corp.,

Class A

(a) 60,894

3,066,310

Materials

-

1.3%

Carpenter

Technology

Corp.

183,280

Total

Common

Stock

(Cost

$12,280,098)

13,315,629

Shares

Security

Description

Value

Money

Market

Fund

-

4.6%

637,630

First

American

Treasury

Obligations

Fund,

Class X,

3.60%

(b) (Cost

$637,630)

637,630

Investments,

at

value

-

100.2%

(Cost

$12,917,728)

$

13,953,259

Other

Assets

&

Liabilities,

Net

-

(0.2)%

(26,023)

Net

Assets

-

100.0%

$

13,927,236

(a) Non-income

producing

security.

(b) Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

March

31,

2026. Valuation

Inputs

Investments

in

Securities

Level

-

Quoted

Prices

$

13,953,259

Level

-

Other

Significant

Observable

Inputs

–

Level

-

Significant

Unobservable

Inputs

–

Total

$

13,953,259

## 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:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $13954291.42

**Total Liabilities:** $27033.26

**Net Assets:** $13927258.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012485 | 2.10%                | 1.42%                | -6.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $847203.32               | $-370921.86                                |
| Month 2  | $-200033.25              | $432531.45                                 |
| Month 3  | $-94834.40               | $-827376.51                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADTRAN Holdings Inc            | ADTRAN Holdings, Inc.                      | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |     15270 | NS      | $192096.60    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries, Inc.           | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |       810 | NS      | $261395.10    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc       | Alignment Healthcare, Inc.                 | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4435 | NS      | $78144.70     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                    | Allient, Inc.                              | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |      2120 | NS      | $125270.80    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Amprius Technologies Inc       | Amprius Technologies, Inc.                 | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11370 | NS      | $191698.20    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc        | Apogee Therapeutics, Inc.                  | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1770 | NS      | $148980.90    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                      | Argan, Inc.                                | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |       355 | NS      | $193350.75    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp                 | Astronics Corp.                            | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |      1715 | NS      | $114441.95    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Axogen Inc                     | Axogen, Inc.                               | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4620 | NS      | $153060.60    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc        | Axsome Therapeutics, Inc.                  | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |       755 | NS      | $127610.10    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.                   | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |       605 | NS      | $88547.80     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc           | Bridgebio Pharma, Inc.                     | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      1425 | NS      | $105820.50    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services I | BrightSpring Health Services, Inc.         | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7890 | NS      | $336192.90    | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp        | CECO Environmental Corp.                   | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |      1390 | NS      | $82816.20     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp.                 | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       465 | NS      | $183279.75    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cava Group Inc                 | Cava Group, Inc.                           | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1695 | NS      | $137125.50    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure, Inc.                         | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1130 | NS      | $54703.30     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc      | Construction Partners, Inc.                | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |      1350 | NS      | $150012.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dianthus Therapeutics Inc      | Dianthus Therapeutics, Inc.                | CUSIP: 252828108<br>LEI: 549300Z3N6ODPCOFC890 | Long             | EC               | CORP              | US        |       345 | NS      | $28952.40     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings Inc      | DigitalOcean Holdings, Inc.                | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |      2570 | NS      | $220454.60    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries, Inc.                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |       570 | NS      | $193127.40    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc        | Enova International, Inc.                  | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |       750 | NS      | $101872.50    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | The Ensign Group, Inc.                     | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      1035 | NS      | $208552.50    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc          | ESCO Technologies, Inc.                    | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       155 | NS      | $43612.35     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Figs Inc                       | Figs, Inc.                                 | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4635 | NS      | $68458.95     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefly Aerospace Inc          | Firefly Aerospace, Inc.                    | CUSIP: 31816X106<br>LEI: 529900JPYLDP30163X55 | Long             | EC               | CORP              | US        |      3125 | NS      | $88968.75     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Treasury Obligations Fund   | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    637630 | NS      | $637629.54    | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc         | FirstCash Holdings, Inc.                   | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       765 | NS      | $143820.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                 | Five Below, Inc.                           | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |       835 | NS      | $190780.80    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor, Inc.                           | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |       990 | NS      | $96020.10     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                   | Freshpet, Inc.                             | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      1865 | NS      | $109960.40    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Pharmacy Services Inc | Guardian Pharmacy Services, Inc.           | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7325 | NS      | $275859.50    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      1880 | NS      | $121504.40    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc  | Healthcare Services Group, Inc.            | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |      5875 | NS      | $108981.25    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| HeartFlow Inc                  | HeartFlow, Inc.                            | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3885 | NS      | $94522.05     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health Inc               | Hinge Health, Inc.                         | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1465 | NS      | $56490.40     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products, Inc.          | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |       340 | NS      | $90151.00     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals Inc      | Ionis Pharmaceuticals, Inc.                | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |      2465 | NS      | $185096.85    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp                 | JBT Marel Corp.                            | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |       539 | NS      | $68921.93     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc            | Karman Holdings, Inc.                      | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2575 | NS      | $206128.75    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                    | Klaviyo, Inc.                              | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7525 | NS      | $146436.50    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc. | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5440 | NS      | $313235.20    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solu | Kratos Defense & Security Solutions, Inc.  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      2165 | NS      | $152654.15    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc            | Krystal Biotech, Inc.                      | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |       625 | NS      | $161450.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp.                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      1985 | NS      | $184128.60    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc     | Ligand Pharmaceuticals, Inc.               | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |      1285 | NS      | $256550.25    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS, Inc.                                  | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |       690 | NS      | $158568.90    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol | MACOM Technology Solutions Holdings, Inc.  | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       335 | NS      | $74393.45     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite, Inc.                              | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     10415 | NS      | $123730.20    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec, Inc.                               | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |       765 | NS      | $246131.10    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co.                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      5060 | NS      | $319690.80    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems, Inc.                      | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |      2445 | NS      | $178264.95    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirum Pharmaceuticals Inc      | Mirum Pharmaceuticals, Inc.                | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |      1480 | NS      | $136722.40    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co.                   | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      1275 | NS      | $276305.25    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc   | National Vision Holdings, Inc.             | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |      7550 | NS      | $195545.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                  | Nextpower, Inc.                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1675 | NS      | $201921.25    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                     | nLight, Inc.                               | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3600 | NS      | $205272.00    | 1.47%             |  |  |  | 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        |      1270 | NS      | $116890.80    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc            | Onto Innovation, Inc.                      | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |       680 | NS      | $139447.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions, Inc.                        | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |      3680 | NS      | $120372.80    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Palvella Therapeutics Inc      | Palvella Therapeutics, Inc.                | CUSIP: 697947109<br>LEI: 254900AJDH8PAOOI5T33 | Long             | EC               | CORP              | US        |      1580 | NS      | $196947.00    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Patrick Industries Inc         | Patrick Industries, Inc.                   | CUSIP: 703343103<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | EC               | CORP              | US        |       735 | NS      | $81636.45     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.                 | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     36530 | NS      | $395619.90    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs PBC                | Planet Labs PBC                            | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               | CORP              | US        |      7180 | NS      | $200681.00    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc          | Powell Industries, Inc.                    | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |       130 | NS      | $70340.40     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp          | ProPetro Holding Corp.                     | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9045 | NS      | $130338.45    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc               | RBC Bearings, Inc.                         | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       515 | NS      | $279706.80    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                   | Semtech Corp.                              | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      1030 | NS      | $79196.70     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                | Shake Shack, Inc.                          | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |      1055 | NS      | $93335.85     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp | Silicon Motion Technology Corp.            | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |      1140 | NS      | $128010.60    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc   | SiteOne Landscape Supply, Inc.             | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |      1320 | NS      | $175705.20    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp.                               | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       400 | NS      | $138140.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure  | Solaris Energy Infrastructure, Inc.        | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      3955 | NS      | $223497.05    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure, Inc.              | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |       605 | NS      | $246398.35    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies, Inc.                     | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |      1570 | NS      | $152949.40    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc       | Tandem Diabetes Care, Inc.                 | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |      5335 | NS      | $102271.95    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc     | Tarsus Pharmaceuticals, Inc.               | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1175 | NS      | $82426.25     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc       | Travere Therapeutics, Inc.                 | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1630 | NS      | $48427.30     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc       | Ultra Clean Holdings, Inc.                 | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |      3035 | NS      | $188716.30    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute  | Universal Technical Institute, Inc.        | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |      3730 | NS      | $134653.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp.                                  | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |       765 | NS      | $141066.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions, Inc.                      | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |      2135 | NS      | $71052.80     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc               | Warby Parker, Inc.                         | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2875 | NS      | $60576.25     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp           | Waystar Holding Corp.                      | CUSIP: 946784105<br>LEI: 529900QJLKXDYU36MH89 | Long             | EC               | CORP              | US        |      5835 | NS      | $140681.85    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp      | Zeta Global Holdings Corp.                 | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |      3825 | NS      | $60894.00     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                       | Fabrinet                                   | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |       415 | NS      | $216430.80    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC              | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |       840 | NS      | $79447.20     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals Intern | Kiniksa Pharmaceuticals International PLC  | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       920 | NS      | $44298.00     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                      | JFrog, Ltd.                                | CUSIP: M6191J100<br>LEI: 2549002N8E00AY49G567 | Long             | EC               | CORP              | IL        |      3785 | NS      | $177630.05    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-06

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer