# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0001752724-23-041631
**Filing Date:** 2023-2
**Character Count:** 34790
**Document Hash:** 9581c0a5e4ec126c14ca1f2d985131e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041631.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041631

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FORUM FUNDS
- **CENTRAL INDEX KEY:** 0000315774
- **IRS NUMBER:** 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:** 23671709

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $60661600.16

**Total Liabilities:** $76593.67

**Net Assets:** $60585006.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012485 | 6.25%                | -1.30%               | -6.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1332020.33             | $5585687.23                                |
| Month 2  | $-2200593.05             | $1314120.67                                |
| Month 3  | $-642315.10              | $-3942260.43                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Intra-Cellular Therapies Inc   | Intra-Cellular Therapies, Inc.             | CUSIP: 46116X101<br>LEI: 5299002U2KGF193IJA20 | Long             | EC               | CORP              | US        |      7730 | NS      | $409071.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                 | ChampionX Corp.                            | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     13840 | NS      | $401221.60    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                             | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    103260 | NS      | $1258739.40   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                     | Inmode, Ltd.                               | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |     28750 | NS      | $1026375.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse, Inc.                      | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      6805 | NS      | $618914.75    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions, Inc.                        | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |      6885 | NS      | $196360.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc             | Globus Medical, Inc.                       | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      9555 | NS      | $709649.85    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc                        | Box, Inc.                                  | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     18295 | NS      | $569523.35    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc      | Casella Waste Systems, Inc.                | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |      8070 | NS      | $640031.70    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Mobile Mini Holdings  | WillScot Mobile Mini Holdings Corp.        | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     26125 | NS      | $1180066.25   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Model N Inc                    | Model N, Inc.                              | CUSIP: 607525102<br>LEI: 549300WCIL3W0EYSBN94 | Long             | EC               | CORP              | US        |     26150 | NS      | $1060644.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings, Inc.                   | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     10605 | NS      | $663024.60    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc           | Celsius Holdings, Inc.                     | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8645 | NS      | $899425.80    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PagerDuty Inc                  | PagerDuty, Inc.                            | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Long             | EC               | CORP              | US        |     23675 | NS      | $628808.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc           | SPX Technologies, Inc.                     | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |      9755 | NS      | $640415.75    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc   | Supernus Pharmaceuticals, Inc.             | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     28340 | NS      | $1010887.80   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic, Inc.                             | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     34280 | NS      | $449068.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc    | Apellis Pharmaceuticals, Inc.              | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |      5190 | NS      | $268374.90    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc   | SiteOne Landscape Supply, Inc.             | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |      2120 | NS      | $248718.40    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol | MACOM Technology Solutions Holdings, Inc.  | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10720 | NS      | $675145.60    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings, Inc. | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12795 | NS      | $670585.95    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                     | Terex Corp.                                | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |      9260 | NS      | $395587.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite, Inc.                              | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     32960 | NS      | $349046.40    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors, Inc.                        | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      5500 | NS      | $627660.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp               | Haemonetics Corp.                          | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     12885 | NS      | $1013405.25   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies, Inc.      | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      6005 | NS      | $756810.15    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                     | Belden, Inc.                               | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      6220 | NS      | $447218.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Silk Road Medical Inc          | Silk Road Medical, Inc.                    | CUSIP: 82710M100<br>LEI: 549300VL8KC0ZPDQHE14 | Long             | EC               | CORP              | US        |     20360 | NS      | $1076026.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AZEK Co Inc/The                | The AZEK Co., Inc.                         | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Long             | EC               | CORP              | US        |     26180 | NS      | $531977.60    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Technologies Inc         | Array Technologies, Inc.                   | CUSIP: 04271T100<br>LEI: 549300JM5FECYJQ85V37 | Long             | EC               | CORP              | US        |     53975 | NS      | $1043336.75   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon 28 Inc                 | Paragon 28, Inc.                           | CUSIP: 69913P105<br>LEI: 254900GM24PT1FMTRP66 | Long             | EC               | CORP              | US        |     15120 | NS      | $288943.20    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp.                       | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      2230 | NS      | $372387.70    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp.                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     21240 | NS      | $644634.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc   | Madrigal Pharmaceuticals, Inc.             | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |      1210 | NS      | $351202.50    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Instructure Holdings Inc       | Instructure Holdings, Inc.                 | CUSIP: 457790103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16950 | NS      | $397308.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                   | Freshpet, Inc.                             | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      8060 | NS      | $425326.20    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc    | Inspire Medical Systems, Inc.              | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |      5465 | NS      | $1376524.20   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group, Inc.                    | CUSIP: 89377M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13595 | NS      | $839083.40    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp.                                | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      2860 | NS      | $184041.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                   | Wingstop, Inc.                             | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      6670 | NS      | $917925.40    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PowerSchool Holdings Inc       | PowerSchool Holdings, Inc.                 | CUSIP: 73939C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20990 | NS      | $484449.20    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp            | Addus HomeCare Corp.                       | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      5775 | NS      | $574554.75    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp.                               | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3215 | NS      | $326708.30    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Oxford Industries Inc          | Oxford Industries, Inc.                    | CUSIP: 691497309<br>LEI: IDZ20O0XD3GS4UOI2L88 | Long             | EC               | CORP              | US        |      1795 | NS      | $167258.10    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                   | Penumbra, Inc.                             | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      5025 | NS      | $1117861.50   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC              | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     24630 | NS      | $1254159.60   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc            | Shift4 Payments, Inc.                      | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17335 | NS      | $969546.55    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                  | Ambarella, Inc.                            | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |      3825 | NS      | $314529.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Karuna Therapeutics Inc        | Karuna Therapeutics, Inc.                  | CUSIP: 48576A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       860 | NS      | $168990.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc         | Digi International, Inc.                   | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     21495 | NS      | $785642.25    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc            | MGP Ingredients, Inc.                      | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |      5505 | NS      | $585621.90    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp               | AdaptHealth Corp.                          | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18870 | NS      | $362681.40    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Axonics Inc                    | Axonics, Inc.                              | CUSIP: 05465P101<br>LEI: 549300LJY4X7N57VJL05 | Long             | EC               | CORP              | US        |     10530 | NS      | $658440.90    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group, Inc.                | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      3595 | NS      | $940164.40    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp           | Deckers Outdoor Corp.                      | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      1035 | NS      | $413130.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| elf Beauty Inc                 | elf Beauty, Inc.                           | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     29635 | NS      | $1638815.50   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks, Inc.                     | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     40470 | NS      | $741005.70    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Treace Medical Concepts Inc    | Treace Medical Concepts, Inc.              | CUSIP: 89455T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8075 | NS      | $185644.25    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs, Inc.                                | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     10165 | NS      | $1102190.95   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| IVERIC bio Inc                 | IVERIC bio, Inc.                           | CUSIP: 46583P102<br>LEI: 549300GZXI59U71XPM70 | Long             | EC               | CORP              | US        |     16515 | NS      | $353586.15    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Treasury Obligations Fund   | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1515048 | NS      | $1515048.23   | 2.50%             |  |  |  | No            |                  2 | On Loan: No      |
| YETI Holdings Inc              | YETI Holdings, Inc.                        | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     15710 | NS      | $648980.10    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                   | Veracyte, Inc.                             | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |     14850 | NS      | $352390.50    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc          | Shockwave Medical, Inc.                    | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      1390 | NS      | $285797.90    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     10110 | NS      | $322003.50    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Aehr Test Systems              | Aehr Test Systems                          | CUSIP: 00760J108<br>LEI: 529900A4GWWZFRU2RE97 | Long             | EC               | CORP              | US        |     18000 | NS      | $361800.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I | Harmony Biosciences Holdings, Inc.         | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15035 | NS      | $828428.50    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc       | Acadia Healthcare Co., Inc.                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     11090 | NS      | $912928.80    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                   | Gentherm, Inc.                             | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      7820 | NS      | $510567.80    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co           | Matador Resources Co.                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     15375 | NS      | $880065.00    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa, Inc.                               | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      5550 | NS      | $301587.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sovos Brands Inc               | Sovos Brands, Inc.                         | CUSIP: 84612U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14520 | NS      | $208652.40    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc       | Patterson-UTI Energy, Inc.                 | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     36890 | NS      | $621227.60    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Xponential Fitness Inc         | Xponential Fitness, Inc.                   | CUSIP: 98422X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49475 | NS      | $1134461.75   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc     | Huron Consulting Group, Inc.               | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |     13610 | NS      | $988086.00    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Montrose Environmental Group I | Montrose Environmental Group, Inc.         | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Long             | EC               | CORP              | US        |     14705 | NS      | $652754.95    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                   | Visteon Corp.                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |      2360 | NS      | $308758.80    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                     | Gitlab, Inc.                               | CUSIP: 37637K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4240 | NS      | $192665.60    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc        | ExlService Holdings, Inc.                  | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      3700 | NS      | $626891.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp.                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     15835 | NS      | $1027374.80   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     12505 | NS      | $711534.50    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp.                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     21440 | NS      | $743110.40    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc  | Academy Sports & Outdoors, Inc.            | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9450 | NS      | $496503.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                     | Impinj, Inc.                               | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      4020 | NS      | $438903.60    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications Inc     | Iridium Communications, Inc.               | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |      6210 | NS      | $319194.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | The Ensign Group, Inc.                     | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      1310 | NS      | $123939.10    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp.                       | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      3410 | NS      | $314402.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Evoqua Water Technologies Corp | Evoqua Water Technologies Corp.            | CUSIP: 30057T105<br>LEI: 529900YQAOMEZRGRRP43 | Long             | EC               | CORP              | US        |     15235 | NS      | $603306.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix, Inc.                                | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     13930 | NS      | $953229.90    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc             | Planet Fitness, Inc.                       | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     15570 | NS      | $1226916.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc               | Clear Secure, Inc.                         | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15260 | NS      | $418581.80    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment, Inc.                        | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      3600 | NS      | $308376.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners Inc           | Surgery Partners, Inc.                     | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |      4845 | NS      | $134981.70    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc               | SPS Commerce, Inc.                         | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |      5455 | NS      | $700585.65    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tecnoglass Inc                 | Tecnoglass, Inc.                           | CUSIP: G87264100<br>LEI: 529900YRWTPOC2E6IO67 | Long             | EC               | CORP              | KY        |      4130 | NS      | $127080.10    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc       | Axcelis Technologies, Inc.                 | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     10875 | NS      | $863040.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer