# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0000315774-25-000090
**Filing Date:** 2025-10
**Character Count:** 22746
**Document Hash:** 497b58ea3571ef5b17092c4f9adeb493
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000315774-25-000090.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0000315774-25-000090

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**PERIOD START**: 20260630

**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:** 251408710

**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

### DF Dent Premier Growth Fund (Series ID: S000004568)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000012489 | DF Dent Premier Growth Fund | DFDPX           |

## Nport-Ex

DF

DENT

GROWTH

FUNDS

DF

DENT

PREMIER

GROWTH

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

SEPTEMBER

30,

2025

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's investments

as

of

September

30,

2025. 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

Shares

Security

Description

Value

Common

Stock

-

99.7%

Communication

Services

-

5.0%

48,627

Alphabet,

Inc.,

Class C

$

11,843,106

Consumer

Discretionary

-

5.8%

62,761

Amazon.com,

Inc.

(a) 13,780,433

Financials

-

17.3%

8,283

Kinsale

Capital

Group,

Inc.

3,522,429

19,697

Mastercard,

Inc.,

Class A

11,203,851

12,521

Moody's

Corp.

5,966,006

5,282

MSCI,

Inc.

2,997,060

10,654

S&P

Global,

Inc.

(a) 5,185,408

34,922

Visa,

Inc.,

Class A

11,921,672

40,796,426

Health

Care

-

12.7%

67,000

Bio-Techne

Corp.

3,727,210

29,697

Danaher

Corp.

5,887,727

9,320

Intuitive

Surgical,

Inc.

(a) 4,168,184

10,950

Thermo

Fisher

Scientific,

Inc.

5,310,969

26,627

Veeva

Systems,

Inc.,

Class A

(a) 7,932,449

11,078

West

Pharmaceutical

Services,

Inc.

2,906,092

29,932,631

Industrials

-

18.7%

23,092

Booz

Allen

Hamilton

Holding

Corp.

2,308,045

76,565

Copart,

Inc.

(a) 3,443,128

41,932

HEICO

Corp.,

Class A

10,654,502

6,195

TransDigm

Group,

Inc.

(a) 8,165,134

81,952

Uber

Technologies,

Inc.

(a) 8,028,837

56,652

Veralto

Corp.

6,039,670

31,277

Waste

Connections,

Inc.

5,498,497

44,137,813

Information

Technology

-

28.5%

13,830

Apple,

Inc.

3,521,533

4,044

ASML

Holding

NV

3,914,956

19,715

Cadence

Design

Systems,

Inc.

(a) 6,925,091

22,824

Guidewire

Software,

Inc.

(a) 5,246,324

7,548

Intuit,

Inc.

5,154,605

21,846

Manhattan

Associates,

Inc.

(a) 4,477,993

22,682

Microsoft

Corp.

11,748,142

7,848

Monolithic

Power

Systems,

Inc.

7,225,183

10,546

Motorola

Solutions,

Inc.

4,822,580

54,572

Procore

Technologies,

Inc.

(a) 3,979,390

5,072

ServiceNow,

Inc.

(a) 4,667,660

3,482

Synopsys,

Inc.

(a) 1,717,984

7,505

Tyler

Technologies,

Inc.

(a) 3,926,316

67,327,757

Shares

Security

Description

Value

Materials

-

7.0%

16,250

Ecolab,

Inc.

$

4,450,225

13,216

The

Sherwin-Williams

Co.

4,576,172

24,452

Vulcan

Materials

Co.

7,521,924

16,548,321

Real

Estate

-

4.7%

44,590

CBRE

Group,

Inc.,

Class A

(a) 7,025,600

50,240

CoStar

Group,

Inc.

(a) 4,238,749

11,264,349

Total

Common

Stock

(Cost

$110,154,503)

235,630,836

Money

Market

Fund

-

0.4%

872,124

First

American

Treasury

Obligations

Fund,

Class X,

4.01%

(b) (Cost

$872,124)

872,124

Investments,

at

value

-

100.1%

(Cost

$111,026,627)

$

236,502,960

Other

Assets

&

Liabilities,

Net

-

(0.1)%

(297,389)

Net

Assets

-

100.0%

$

236,205,571

(a) Non-income

producing

security.

(b) Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

September

30,

2025. 2

DF

DENT

GROWTH

FUNDS

DF

DENT

PREMIER

GROWTH

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

SEPTEMBER

30,

2025

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.

Valuation

Inputs

Investments

in

Securities

Level

-

Quoted

Prices

$

236,502,960

Level

-

Other

Significant

Observable

Inputs

–

Level

-

Significant

Unobservable

Inputs

–

Total

$

236,502,960

## 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:** DF DENT PREMIER GROWTH FUND

- **b. EDGAR series identifier (if any):** S000004568

- **c. LEI of Series:** 254900IOIQBZTORVKC96

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $236798366.63

**Total Liabilities:** $545013.19

**Net Assets:** $236253353.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012489 | 2.59%                | 0.32%                | -0.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8607099.70              | $-2358373.74                               |
| Month 2  | $2539122.40              | $-1686359.96                               |
| Month 3  | $3762347.34              | $-4535705.10                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alphabet Inc                   | Alphabet, Inc.                           | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     48627 | NS      | $11843105.85  | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com, Inc.                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     62761 | NS      | $13780432.77  | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple, Inc.                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      6930 | NS      | $1764585.90   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                 | Atlassian Corp.                          | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |     12701 | NS      | $2028349.70   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp.                         | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     85000 | NS      | $4728550.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Co | Booz Allen Hamilton Holding Corp.        | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     23092 | NS      | $2308045.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group, Inc.                         | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     44590 | NS      | $7025600.40   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems, Inc.             | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     19715 | NS      | $6925090.90   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart, Inc.                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     76565 | NS      | $3443128.05   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group, Inc.                       | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     50240 | NS      | $4238748.80   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp.                            | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     29697 | NS      | $5887727.22   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                     | Ecolab, Inc.                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     16250 | NS      | $4450225.00   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    872124 | NS      | $872123.76    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc         | Guidewire Software, Inc.                 | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     22824 | NS      | $5246324.64   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                     | HEICO Corp.                              | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     41932 | NS      | $10654501.88  | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit, Inc.                             | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      7548 | NS      | $5154604.68   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical, Inc.                 | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      9320 | NS      | $4168183.60   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group, Inc.              | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      8283 | NS      | $3522428.58   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI, Inc.                               | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      5282 | NS      | $2997059.62   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc       | Manhattan Associates, Inc.               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     21846 | NS      | $4477993.08   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard, Inc.                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     19697 | NS      | $11203850.57  | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp.                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     22682 | NS      | $11748141.90  | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems, Inc.           | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      7848 | NS      | $7225182.72   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                   | Moody's Corp.                            | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     12521 | NS      | $5966006.08   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions, Inc.                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     10546 | NS      | $4822580.34   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc       | Procore Technologies, Inc.               | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     47572 | NS      | $3468950.24   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                 | S&P Global, Inc.                         | CUSIP: 78409V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10654 | NS      | $5185408.34   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow, Inc.                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      5072 | NS      | $4667660.16   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | The Sherwin-Williams Co.                 | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     13216 | NS      | $4576172.16   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                   | Synopsys, Inc.                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      4332 | NS      | $2137365.48   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific, Inc.           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     10950 | NS      | $5310969.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group, Inc.                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5795 | NS      | $7637925.90   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc         | Tyler Technologies, Inc.                 | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      7505 | NS      | $3926315.80   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies, Inc.                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     77452 | NS      | $7587972.44   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems, Inc.                      | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     26627 | NS      | $7932449.57   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp                   | Veralto Corp.                            | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |     56652 | NS      | $6039669.72   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa, Inc.                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     34922 | NS      | $11921672.36  | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co            | Vulcan Materials Co.                     | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     24452 | NS      | $7521924.24   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc          | Waste Connections, Inc.                  | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |     31277 | NS      | $5498496.60   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I | West Pharmaceutical Services, Inc.       | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |     11078 | NS      | $2906091.74   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                          | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      4044 | NS      | $3914955.96   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-21

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer