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Forum Funds Ii NPORT-PBaywood Sociallyresponsible Fund (Jun 2024 report)

Filed: 16 Aug 24, 9:35am

BAYWOOD

VALUE

PLUS

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2024

1

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's instruments

as

of

June

30,

2024.

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

1

–

quoted

prices

in

active

markets

for

identical

assets

Level

2

–

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

2

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

2

in

the

hierarchy.

Other

securities

that

are

categorized

as

Level

2

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

3

–

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.

Shares

Security

Description

Value

Common

Stock

-

95.9%

Basic

Materials

-

3.5%

200‌

Air

Products

and

Chemicals,

Inc.

$

51,610‌

400‌

Packaging

Corp.

of

America

73,024‌

600‌

Rio

Tinto

PLC,

ADR

39,558‌

164,192‌

Capital

Goods

/

Industrials

-

7.5%

400‌

3M

Co.

40,876‌

300‌

L3Harris

Technologies,

Inc.

67,374‌

110‌

Parker-Hannifin

Corp.

55,639‌

1,800‌

RTX

Corp.

180,702‌

344,591‌

Communication

Services

-

5.4%

7,600‌

AT&T,

Inc.

145,236‌

2,300‌

Comcast

Corp.,

Class A

90,068‌

300‌

Verizon

Communications,

Inc.

12,372‌

247,676‌

Consumer

Discretionary

-

10.3%

700‌

Darden

Restaurants,

Inc.

105,924‌

400‌

Genuine

Parts

Co.

55,328‌

800‌

Hasbro,

Inc.

46,800‌

2,300‌

Kontoor

Brands,

Inc.

152,145‌

600‌

Lear

Corp.

68,526‌

200‌

Lowe's

Cos.,

Inc.

44,092‌

472,815‌

Consumer

Staples

-

8.0%

800‌

Ingredion,

Inc.

91,760‌

3,500‌

Kenvue,

Inc.

63,630‌

1,310‌

Molson

Coors

Beverage

Co.,

Class B

66,587‌

300‌

PepsiCo.,

Inc.

49,479‌

400‌

Target

Corp.

59,216‌

200‌

The

Hershey

Co.

36,766‌

367,438‌

Energy

-

9.8%

400‌

Chevron

Corp.

62,568‌

1,100‌

ConocoPhillips

125,818‌

1,400‌

Equinor

ASA,

ADR

39,984‌

6,200‌

Kinder

Morgan,

Inc.

123,194‌

700‌

Phillips

66

98,819‌

450,383‌

Financials

-

18.1%

1,500‌

Air

Lease

Corp.

71,295‌

1,100‌

American

International

Group,

Inc.

81,664‌

1,100‌

Brookfield

Asset

Management,

Ltd.,

Class

A

41,855‌

1,200‌

Citigroup,

Inc.

76,152‌

500‌

CME

Group,

Inc.

98,300‌

4,700‌

Corebridge

Financial,

Inc.

136,864‌

1,200‌

MetLife,

Inc.

84,228‌

3,000‌

Radian

Group,

Inc.

93,300‌

900‌

The

Charles

Schwab

Corp.

66,321‌

1,400‌

Wells

Fargo

&

Co.

83,146‌

833,125‌

Health

Care

-

12.9%

140‌

Amgen,

Inc.

43,743‌

700‌

Cardinal

Health,

Inc.

68,824‌

4,336‌

Koninklijke

Philips

NV,

ADR

109,267‌

1,550‌

Medtronic

PLC

122,001‌

1,300‌

Merck

&

Co.,

Inc.

160,940‌

3,200‌

Pfizer,

Inc.

89,536‌

594,311‌

Real

Estate

-

5.6%

4,200‌

Healthcare

Realty

Trust,

Inc.

REIT

69,216‌

1,104‌

Realty

Income

Corp.

REIT

58,313‌

2,600‌

VICI

Properties,

Inc.

REIT

74,464‌

Shares

Security

Description

Value

Real

Estate

-

5.6%

(continued)

2,000‌

Weyerhaeuser

Co.

REIT

$

56,780‌

258,773‌

Technology

-

10.2%

1,200‌

Cisco

Systems,

Inc.

57,012‌

750‌

International

Business

Machines

Corp.

129,713‌

900‌

NetApp,

Inc.

115,920‌

400‌

NXP

Semiconductors

NV

107,636‌

300‌

Texas

Instruments,

Inc.

58,359‌

468,640‌

Transportation

-

2.6%

250‌

FedEx

Corp.

74,960‌

200‌

Union

Pacific

Corp.

45,252‌

120,212‌

Utilities

-

2.0%

1,200‌

Pinnacle

West

Capital

Corp.

91,656‌

Total

Common

Stock

(Cost

$3,362,630)

4,413,812‌

Shares

Security

Description

Value

Money

Market

Fund

-

3.9%

177,882‌

First

American

Government

Obligations

Fund,

Class X,

5.24%

(a)

(Cost

$177,882)

177,882‌

Investments,

at

value

-

99.8%

(Cost

$3,540,512)

$

4,591,694‌

Other

Assets

&

Liabilities,

Net

-

0.2%

9,057‌

Net

Assets

-

100.0%

$

4,600,751‌

ADR

American

Depositary

Receipt

PLC

Public

Limited

Company

REIT

Real

Estate

Investment

Trust

(a)

Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

June

30,

2024.

BAYWOOD

VALUE

PLUS

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2024

2

The

Level

1

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

1

-

Quoted

Prices

$

4,591,694‌

Level

2

-

Other

Significant

Observable

Inputs

–‌

Level

3

-

Significant

Unobservable

Inputs

–‌

Total

$

4,591,694‌

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2024

3

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's instruments

as

of

June

30,

2024.

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

1

–

quoted

prices

in

active

markets

for

identical

assets

Level

2

–

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

2

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

2

in

the

hierarchy.

Other

securities

that

are

categorized

as

Level

2

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

3

–

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.

Shares

Security

Description

Value

Common

Stock

-

96.9%

Basic

Materials

-

3.5%

200‌

Air

Products

and

Chemicals,

Inc.

$

51,610‌

5,900‌

Graphic

Packaging

Holding

Co.

154,639‌

500‌

Packaging

Corp.

of

America

91,280‌

297,529‌

Capital

Goods

/

Industrials

-

5.7%

600‌

3M

Co.

61,314‌

300‌

Cummins,

Inc.

83,079‌

4,400‌

nVent

Electric

PLC

337,084‌

481,477‌

Communication

Services

-

6.0%

600‌

Alphabet,

Inc.,

Class A

109,290‌

9,200‌

AT&T,

Inc.

175,812‌

3,800‌

Comcast

Corp.,

Class A

148,808‌

7,000‌

Paramount

Global,

Class B

72,730‌

506,640‌

Consumer

Discretionary

-

6.4%

1,200‌

Aptiv

PLC

(a)

84,504‌

1,000‌

Genuine

Parts

Co.

138,320‌

4,700‌

Kontoor

Brands,

Inc.

310,905‌

533,729‌

Consumer

Staples

-

3.9%

7,900‌

Kenvue,

Inc.

143,622‌

1,600‌

Mondelez

International,

Inc.,

Class A

104,704‌

500‌

PepsiCo.,

Inc.

82,465‌

330,791‌

Energy

-

9.7%

2,600‌

Devon

Energy

Corp.

123,240‌

11,000‌

Kinder

Morgan,

Inc.

218,570‌

3,100‌

Schlumberger

NV

146,258‌

450‌

Texas

Pacific

Land

Corp.

330,422‌

818,490‌

Financials

-

22.9%

2,600‌

Air

Lease

Corp.

123,578‌

1,500‌

American

Express

Co.

347,325‌

3,100‌

American

International

Group,

Inc.

230,144‌

500‌

Berkshire

Hathaway,

Inc.,

Class B

(a)

203,400‌

3,075‌

Brookfield

Corp.

127,735‌

400‌

Cboe

Global

Markets,

Inc.

68,024‌

1,100‌

CME

Group,

Inc.

216,260‌

7,000‌

Corebridge

Financial,

Inc.

203,840‌

700‌

Interactive

Brokers

Group,

Inc.

85,820‌

1,500‌

The

Charles

Schwab

Corp.

110,535‌

2,700‌

W

R

Berkley

Corp.

212,166‌

1,928,827‌

Health

Care

-

20.1%

1,500‌

AstraZeneca

PLC,

ADR

116,985‌

3,700‌

Avantor,

Inc.

(a)

78,440‌

800‌

Becton

Dickinson

&

Co.

186,968‌

1,400‌

Cardinal

Health,

Inc.

137,648‌

6,300‌

Fortrea

Holdings,

Inc.

(a)

147,042‌

10,708‌

Koninklijke

Philips

NV,

ADR

269,842‌

650‌

Labcorp

Holdings,

Inc.

132,281‌

2,400‌

Medtronic

PLC

188,904‌

1,800‌

Merck

&

Co.,

Inc.

222,840‌

200‌

Regeneron

Pharmaceuticals,

Inc.

(a)

210,206‌

1,691,156‌

Real

Estate

-

3.9%

10,000‌

Healthcare

Realty

Trust,

Inc.

REIT

164,800‌

2,071‌

Realty

Income

Corp.

REIT

109,390‌

2,000‌

Weyerhaeuser

Co.

REIT

56,780‌

330,970‌

Shares

Security

Description

Value

Technology

-

13.4%

2,300‌

Cisco

Systems,

Inc.

$

109,273‌

1,500‌

Coherent

Corp.

(a)

108,690‌

3,200‌

Corning,

Inc.

124,320‌

3,400‌

Intel

Corp.

105,298‌

1,300‌

International

Business

Machines

Corp.

224,835‌

1,200‌

NetApp,

Inc.

154,560‌

1,100‌

NXP

Semiconductors

NV

295,999‌

1,122,975‌

Transportation

-

1.4%

500‌

Union

Pacific

Corp.

113,130‌

Total

Common

Stock

(Cost

$5,335,408)

8,155,714‌

Shares

Security

Description

Value

Money

Market

Fund

-

4.2%

352,933‌

First

American

Government

Obligations

Fund,

Class X,

5.24%

(b)

(Cost

$352,933)

352,933‌

Investments,

at

value

-

101.1%

(Cost

$5,688,341)

$

8,508,647‌

Other

Assets

&

Liabilities,

Net

-

(1.1)%

(95,359‌)

Net

Assets

-

100.0%

$

8,413,288‌

ADR

American

Depositary

Receipt

PLC

Public

Limited

Company

REIT

Real

Estate

Investment

Trust

(a)

Non-income

producing

security.

(b)

Dividend

yield

changes

daily

to

reflect

current

market

conditions.

Rate

was

the

quoted

yield

as

of

June

30,

2024.

Valuation

Inputs

Investments

in

Securities

Level

1

-

Quoted

Prices

$

8,508,647‌

Level

2

-

Other

Significant

Observable

Inputs

–‌

Level

3

-

Significant

Unobservable

Inputs

–‌

Total

$

8,508,647‌

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2024

4

The

Level

1

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.

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