# EDGAR Filing Document

**Accession Number:** 0000315774
**File Stem:** 0000315774-25-000065
**Filing Date:** 2025-9
**Character Count:** 24892
**Document Hash:** 2c9b79245e3ea2b99332f08aaac58aff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000315774-25-000065.hdr.sgml**: 20250919

**ACCESSION NUMBER**: 0000315774-25-000065

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250919

**DATE AS OF CHANGE**: 20250919

**PERIOD START**: 20260430

**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:** 251326239

**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

### Monongahela All Cap Value Fund (Series ID: S000040732)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000126338 | Monongahela All Cap Value Fund | MCMVX           |

## Nport-Ex

MONONGAHELA

ALL

CAP

VALUE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

July

31,

2025

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's investments

as

of

July

31,

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

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.

Shares

Security

Description

Value

Common

Stock

-

93.4%

Consumer

Discretionary

-

15.6%

20,000

Cracker

Barrel

Old

Country

Store,

Inc.

$

1,240,000

5,000

eBay,

Inc.

458,750

60,000

El

Pollo

Loco

Holdings,

Inc.

(a) 618,000

12,500

H&R

Block,

Inc.

679,250

6,000

Mohawk

Industries,

Inc.

(a) 687,060

8,000

Williams-Sonoma,

Inc.

1,496,400

17,500

Winnebago

Industries,

Inc.

520,100

5,699,560

Consumer

Staples

-

15.5%

20,000

Alico,

Inc.

645,600

12,500

General

Mills,

Inc.

612,250

17,500

Kenvue,

Inc.

375,200

4,500

Kimberly-Clark

Corp.

560,790

22,500

Lamb

Weston

Holdings,

Inc.

1,284,075

7,000

Target

Corp.

703,500

10,000

The

Estee

Lauder

Cos.,

Inc.

933,400

5,000

The

Kraft

Heinz

Co.

137,300

2,750

The

Procter

&

Gamble

Co.

413,793

5,665,908

Energy

-

3.5%

10,500

ONEOK,

Inc.

862,155

3,500

Phillips

432,530

1,294,685

Financials

-

7.5%

5,000

CNA

Financial

Corp.

221,650

12,500

Equitable

Holdings,

Inc.

641,875

18,500

Farmers

National

Banc

Corp.

250,490

14,500

MetLife,

Inc.

1,101,275

15,000

Old

Republic

International

Corp.

542,550

2,757,840

Health

Care

-

9.7%

3,000

Abbott

Laboratories

378,570

10,000

Bristol-Myers

Squibb

Co.

433,100

12,500

Hologic,

Inc.

(a) 835,250

12,000

Merck

&

Co.,

Inc.

937,440

11,000

Revvity,

Inc.

966,900

3,551,260

Industrials

-

21.6%

3,500

Curtiss-Wright

Corp.

1,715,770

7,500

Emerson

Electric

Co.

1,091,325

2,500

Hubbell,

Inc.

1,093,700

43,000

MillerKnoll,

Inc.

816,140

4,250

Rockwell

Automation,

Inc.

1,494,768

10,500

The

Gorman-Rupp

Co.

432,180

6,500

Westinghouse

Air

Brake

Technologies

Corp.

1,248,325

7,892,208

Information

Technology

-

17.9%

1,150

Adobe,

Inc.

(a) 411,343

4,000

Akamai

Technologies,

Inc.

(a) 305,240

10,000

Cognizant

Technology

Solutions

Corp.,

Class A

717,600

15,000

Coherent

Corp.

(a) 1,614,000

12,500

Corning,

Inc.

790,500

3,000

F5,

Inc.

(a) 940,260

20,000

Kulicke

&

Soffa

Industries,

Inc.

655,200

22,000

NetScout

Systems,

Inc.

(a) 471,240

3,500

Texas

Instruments,

Inc.

633,710

6,539,093

Shares

Security

Description

Value

Materials

-

1.2%

1,500

Air

Products

and

Chemicals,

Inc.

$

431,820

Utilities

-

0.9%

3,000

WEC

Energy

Group,

Inc.

327,240

Total

Common

Stock

(Cost

$24,938,724)

34,159,614

Shares

Security

Description

Value

Money

Market

Fund

-

6.1%

2,238,170

First

American

Treasury

Obligations

Fund,

Class X,

4.21%

(b) (Cost

$2,238,170)

2,238,170

Investments,

at

value

-

99.5%

(Cost

$27,176,894)

$

36,397,784

Other

Assets

&

Liabilities,

Net

-

0.5%

194,060

Net

Assets

-

100.0%

$

36,591,844

(a) Non-income

producing

security.

(b) Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

July

31,

2025. Valuation

Inputs

Investments

in

Securities

Level

-

Quoted

Prices

$

36,397,784

Level

-

Other

Significant

Observable

Inputs

–

Level

-

Significant

Unobservable

Inputs

–

Total

$

36,397,784

MONONGAHELA

ALL

CAP

VALUE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

July

31,

2025

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.

## 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:** MONONGAHELA ALL CAP VALUE FUND

- **b. EDGAR series identifier (if any):** S000040732

- **c. LEI of Series:** 254900KBPPEQ1K1XRY33

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $36634431.51

**Total Liabilities:** $35230.82

**Net Assets:** $36599200.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000126338 | 6.96%                | 3.64%                | 2.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $241462.41               | $1939316.49                                |
| Month 2  | $17621.30                | $1215327.20                                |
| Month 3  | $295093.95               | $468078.25                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kulicke & Soffa Industries Inc | Kulicke & Soffa Industries, Inc.          | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     20000 | NS      | $655200.00    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Sto | Cracker Barrel Old Country Store, Inc.    | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |     20000 | NS      | $1240000.00   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                    | MetLife, Inc.                             | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     14500 | NS      | $1101275.00   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                     | Kenvue, Inc.                              | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |     17500 | NS      | $375200.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The             | The Kraft Heinz Co.                       | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      2500 | NS      | $68650.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CNA Financial Corp             | CNA Financial Corp.                       | CUSIP: 126117100<br>LEI: 549300YX2GSZD7YG1R84 | Long             | EC               | CORP              | US        |      5000 | NS      | $221650.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc         | Equitable Holdings, Inc.                  | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     12500 | NS      | $641875.00    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmers National Banc Corp     | Farmers National Banc Corp.               | CUSIP: 309627107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18500 | NS      | $250490.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp            | Kimberly-Clark Corp.                      | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      4500 | NS      | $560790.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc        | Rockwell Automation, Inc.                 | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      4250 | NS      | $1494767.50   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co.                  | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     10000 | NS      | $433100.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                    | Hologic, Inc.                             | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     12500 | NS      | $835250.00    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Alico Inc                      | Alico, Inc.                               | CUSIP: 016230104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $645600.00    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc           | WEC Energy Group, Inc.                    | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      3000 | NS      | $327240.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                    | Hubbell, Inc.                             | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      2500 | NS      | $1093700.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                | MillerKnoll, Inc.                         | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     43000 | NS      | $816140.00    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | First American Treasury Obligations Fund  | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2238170 | NS      | $2238170.33   | 6.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co., Inc.                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     12000 | NS      | $937440.00    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp.                      | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      3500 | NS      | $1715770.00   | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                    | Phillips 66                               | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      3500 | NS      | $432530.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp.      | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     10000 | NS      | $717600.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5, Inc.                                  | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      3000 | NS      | $940260.00    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals, Inc.          | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      1500 | NS      | $431820.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma, Inc.                     | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      8000 | NS      | $1496400.00   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                  | H&R Block, Inc.                           | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     12500 | NS      | $679250.00    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning, Inc.                             | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     12500 | NS      | $790500.00    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments, Inc.                   | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      3500 | NS      | $633710.00    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                    | Target Corp.                              | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      7000 | NS      | $703500.00    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc        | Akamai Technologies, Inc.                 | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      4000 | NS      | $305240.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                    | Revvity, Inc.                             | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     11000 | NS      | $966900.00    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc              | General Mills, Inc.                       | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     12500 | NS      | $612250.00    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc       | Winnebago Industries, Inc.                | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |     17500 | NS      | $520100.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc          | Mohawk Industries, Inc.                   | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      6000 | NS      | $687060.00    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe, Inc.                               | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      1150 | NS      | $411343.50    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                            | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     15000 | NS      | $1614000.00   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The             | The Gorman-Rupp Co.                       | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |     10500 | NS      | $432180.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co.                      | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      7500 | NS      | $1091325.00   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp.          | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     15000 | NS      | $542550.00    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The       | The Estee Lauder Cos., Inc.               | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |     10000 | NS      | $933400.00    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| El Pollo Loco Holdings Inc     | El Pollo Loco Holdings, Inc.              | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |     60000 | NS      | $618000.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay, Inc.                                | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      7500 | NS      | $688125.00    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                       | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      3000 | NS      | $378570.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NetScout Systems Inc           | NetScout Systems, Inc.                    | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |     22000 | NS      | $471240.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp. | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |      6500 | NS      | $1248325.00   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc       | Lamb Weston Holdings, Inc.                | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     22500 | NS      | $1284075.00   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK, Inc.                               | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     10500 | NS      | $862155.00    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | The Procter & Gamble Co.                  | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2750 | NS      | $413792.50    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-19

**Name of Applicant:** Forum Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer