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      <regStreet1>28 Havemeyer Place</regStreet1>
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          <ticker value="TSTXX"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TFS Financial Corp</name>
        <lei>N/A</lei>
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        <cusip>87240R107</cusip>
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          <isin value="US87240R1077"/>
          <ticker value="TFSL"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN US GOVT MONEY MKT FUND</name>
        <lei>549300NQ5E5B7ZV4T516</lei>
        <title>JP MORGAN US GOVT MONEY MKT FUND</title>
        <cusip>4812C0670</cusip>
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          <isin value="US4812C06707"/>
          <ticker value="OGVXX"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carlisle Cos Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Water Works Co Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equity Commonwealth</name>
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        <title>Equity Commonwealth</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Churchill Capital Corp III</name>
        <lei>N/A</lei>
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          <isin value="US17144C1045"/>
          <ticker value="CCXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Associated Banc-Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tenable Holdings Inc</name>
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        <title>Tenable Holdings Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teledyne Technologies Inc</name>
        <lei>549300VSMO9KYQWDND94</lei>
        <title>Teledyne Technologies Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>W R Berkley Corp</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Parsley Energy Inc</name>
        <lei>549300DMRA8DSL66G562</lei>
        <title>Parsley Energy Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Regal Beloit Corp</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>TreeHouse Foods Inc</name>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nomad Foods Ltd</name>
        <lei>5493000ZZ1837DS2SI43</lei>
        <title>Nomad Foods Ltd</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Clarivate PLC</name>
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        <name>MIZUHO SECURITIES USA LLC</name>
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        <name>RH</name>
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        <title>RH</title>
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        <name>BankUnited Inc</name>
        <lei>96OVUWEW5D4YX6PFXD91</lei>
        <title>BankUnited Inc</title>
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        <name>Envista Holdings Corp</name>
        <lei>549300BX623VURJZ5269</lei>
        <title>Envista Holdings Corp</title>
        <cusip>29415F104</cusip>
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          <ticker value="NVST"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>GCP Applied Technologies Inc</name>
        <lei>5493007G654QKQVEKV09</lei>
        <title>GCP Applied Technologies Inc</title>
        <cusip>36164Y101</cusip>
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          <ticker value="GCP"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Valmont Industries Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>G-III Apparel Group Ltd</name>
        <lei>529900O5KABM3R3SFM87</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ChampionX Corp</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RPM International Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Primo Water Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Financial Group Inc/O</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Corporate Office Properties Tr</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NiSource Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Applied Industrial Technologie</name>
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        <name>TriNet Group Inc</name>
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        <name>DEUTSCHE BANK SECURITIES INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Financial Square Government Fund</name>
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        <name>Black Hills Corp</name>
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        <name>LKQ Corp</name>
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        <name>ServiceMaster Global Holdings</name>
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        <name>Cree Inc</name>
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        <name>Cousins Properties Inc</name>
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        <name>Skyline Champion Corp</name>
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        <name>BancorpSouth Bank</name>
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        <name>BNP PARIBAS</name>
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      <invstOrSec>
        <name>Bio-Rad Laboratories Inc</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>Bio-Rad Laboratories Inc</title>
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        <pctVal>2.822948690848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTC Inc</name>
        <lei>54930050SSMU8SKDJ030</lei>
        <title>PTC Inc</title>
        <cusip>69370C100</cusip>
        <identifiers>
          <isin value="US69370C1009"/>
          <ticker value="PTC"/>
        </identifiers>
        <balance>80477.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6657057.44000000</valUSD>
        <pctVal>2.609346432464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federated Treasury Obligations Fund</name>
        <lei>254900WUIGYHOH89FC60</lei>
        <title>Federated Treasury Obligations Fund</title>
        <cusip>60934N500</cusip>
        <identifiers>
          <isin value="US60934N5005"/>
          <ticker value="TOIXX"/>
        </identifiers>
        <balance>3931918.51000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3931918.51000000</valUSD>
        <pctVal>1.541182065691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>CRM Mutual Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Steve Fellin</ncom:signature>
      <ncom:signerName>Steve Fellin</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
