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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Ingredion Inc</name>
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      <invstOrSec>
        <name>Kirkland Lake Gold Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alleghany Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Citimortgage Alternative Loan</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pfizer Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway, Inc.</title>
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          <isin value="US0846707026"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cerner Corp</name>
        <lei>549300L4UJ40IEVVI304</lei>
        <title>Cerner Corp.</title>
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          <isin value="US1567821046"/>
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        <curCd>USD</curCd>
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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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      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
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          <isin value="IE00BTN1Y115"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Loews Corp</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>Loews Corp.</title>
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          <isin value="US5404241086"/>
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        <balance>11000.00000000</balance>
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        <curCd>USD</curCd>
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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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      <invstOrSec>
        <name>Cisco Systems Inc/Delaware</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc./Delaware</title>
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          <isin value="US17275R1023"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Barrick Gold Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <title>NASDAQ 100 E-mini Future</title>
        <cusip>N/A</cusip>
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      <invstOrSec>
        <name>Banc of America Funding Corpor</name>
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        <name>DuPont de Nemours Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC</title>
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        <name>Viatris Inc</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris, Inc.</title>
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        <name>Dominion Energy Inc</name>
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        <name>IndyMac INDX Mortgage Loan Tru</name>
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        <title>IndyMac Index Mortgage Loan Trust</title>
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        <name>Absolute Convertible Arbitrage</name>
        <lei>254900X33KL2ACION121</lei>
        <title>Absolute Convertible Arbitrage Fund</title>
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        <name>EOG Resources Inc</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG Resources, Inc.</title>
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        <name>Absolute Capital Opportunities</name>
        <lei>254900V1F0SK0ITURS31</lei>
        <title>Absolute Capital Opportunities Fund</title>
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        <invCountry>US</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Invesco QQQ Trust</title>
        <cusip>N/A</cusip>
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          <ticker value="QQQ 2 C410"/>
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          <ticker value="SPY 5 P280"/>
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      <invstOrSec>
        <name>Graham Holdings Co</name>
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          <ticker value="SPY 5 P330"/>
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        <name>N/A</name>
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          <ticker value="ESH2"/>
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        <name>Citimortgage Alternative Loan</name>
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        <name>SPDR S&amp;P 500 ETF Trust</name>
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        <name>TJX Cos Inc/The</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>Adjustable Rate Mortgage Trust</name>
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        <name>Jones Lang LaSalle Inc</name>
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        <name>Travelers Cos Inc/The</name>
        <lei>549300Y650407RU8B149</lei>
        <title>The Travelers Cos., Inc.</title>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>Countrywide Home Loan Mortgage Pass-Through Trust</title>
        <cusip>12544BAA1</cusip>
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          <isin value="US12544BAA17"/>
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        <balance>14661.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13855.53000000</valUSD>
        <pctVal>0.036854459040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.43357900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corteva Inc</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva, Inc.</title>
        <cusip>22052L104</cusip>
        <identifiers>
          <isin value="US22052L1044"/>
        </identifiers>
        <balance>8500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>401880.00000000</valUSD>
        <pctVal>1.068964521683</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>Equity Commonwealth</name>
        <lei>549300YPGVU9PR4L0606</lei>
        <title>Equity Commonwealth</title>
        <cusip>294628102</cusip>
        <identifiers>
          <isin value="US2946281027"/>
        </identifiers>
        <balance>18500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>479150.00000000</valUSD>
        <pctVal>1.274495746402</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>Guidewire Software Inc</name>
        <lei>549300WXSG0J8IXZCK32</lei>
        <title>Guidewire Software, Inc.</title>
        <cusip>40171V100</cusip>
        <identifiers>
          <isin value="US40171V1008"/>
        </identifiers>
        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>227060.00000000</valUSD>
        <pctVal>0.603959102949</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-02-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Forum Funds</ncom:nameOfApplicant>
      <ncom:signature>/s/ Karen Shaw</ncom:signature>
      <ncom:signerName>Karen Shaw</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
