Forum Funds Ii NPORT-P Baywood Sociallyresponsible Fund (Jun 2021 report)

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2021

1

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's instruments

as

of

June

30,

2021.

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

-

95.4%

Basic

Materials

-

7.2%

900‌

International

Flavors

&

Fragrances,

Inc.

$

134,460‌

3,600‌

Nutrien,

Ltd.

218,196‌

500‌

Packaging

Corp.

of

America

67,710‌

1,100‌

Steel

Dynamics,

Inc.

65,560‌

485,926‌

Capital

Goods

/

Industrials

-

3.2%

450‌

Cummins,

Inc.

109,714‌

900‌

ManpowerGroup,

Inc.

107,019‌

216,733‌

Communication

Services

-

8.2%

3,000‌

Comcast

Corp.,

Class A

171,060‌

900‌

The

Walt

Disney

Co. 

(a)

158,193‌

4,100‌

Verizon

Communications,

Inc.

229,723‌

558,976‌

Consumer

Discretionary

-

6.4%

500‌

Aptiv

PLC 

(a)

78,665‌

1,000‌

Genuine

Parts

Co.

126,470‌

4,000‌

Kontoor

Brands,

Inc.

225,640‌

430,775‌

Consumer

Staples

-

4.7%

1,800‌

Mondelez

International,

Inc.,

Class A

112,392‌

500‌

PepsiCo.,

Inc.

74,085‌

3,300‌

The

Kraft

Heinz

Co.

134,574‌

321,051‌

Energy

-

6.6%

4,000‌

Devon

Energy

Corp.

116,760‌

5,500‌

Kinder

Morgan,

Inc.

100,265‌

2,100‌

Schlumberger

NV

67,221‌

100‌

Texas

Pacific

Land

Corp.

159,974‌

444,220‌

Financials

-

20.5%

3,300‌

Air

Lease

Corp.

137,742‌

1,400‌

American

Express

Co.

231,322‌

4,300‌

American

International

Group,

Inc.

204,680‌

2,100‌

Bank

of

America

Corp.

86,583‌

500‌

Berkshire

Hathaway,

Inc.,

Class B 

(a)

138,960‌

1,600‌

BOK

Financial

Corp.

138,560‌

32‌

Brookfield

Asset

Management

Reinsurance

Partners,

Ltd. 

(a)

1,680‌

4,683‌

Brookfield

Asset

Management,

Inc.,

Class A

238,739‌

500‌

Chubb,

Ltd.

79,470‌

600‌

CME

Group,

Inc.

127,608‌

1,385,344‌

Health

Care

-

15.8%

700‌

Amgen,

Inc.

170,625‌

1,200‌

AstraZeneca

PLC,

ADR

71,880‌

850‌

Becton

Dickinson

and

Co.

206,711‌

2,600‌

Cardinal

Health,

Inc.

148,434‌

1,628‌

Koninklijke

Philips

NV,

ADR

80,912‌

450‌

Laboratory

Corp.

of

America

Holdings 

(a)

124,133‌

800‌

Medtronic

PLC

99,304‌

300‌

Regeneron

Pharmaceuticals,

Inc. 

(a)

167,562‌

1,069,561‌

Real

Estate

-

2.7%

4,020‌

VEREIT,

Inc.

REIT

184,639‌

Technology

-

12.7%

300‌

Arista

Networks,

Inc. 

(a)

108,693‌

2,600‌

Cisco

Systems,

Inc./Delaware

137,800‌

3,700‌

Corning,

Inc.

151,330‌

900‌

International

Business

Machines

Corp.

131,931‌

1,300‌

NetApp,

Inc.

106,366‌

700‌

NXP

Semiconductors

NV

144,004‌

Shares

Security

Description

Value

Technology

-

12.7%

(continued)

600‌

TE

Connectivity,

Ltd.

$

81,126‌

861,250‌

Transportation

-

7.4%

3,300‌

AP

Moller

-

Maersk

A/S,

ADR

47,781‌

19,900‌

Atlas

Corp.

283,575‌

500‌

Union

Pacific

Corp.

109,965‌

300‌

United

Parcel

Service,

Inc.,

Class B

62,391‌

503,712‌

Total

Common

Stock

(Cost

$4,518,659)

6,462,187‌

Shares

Security

Description

Value

Money

Market

Fund

-

4.6%

307,574‌

Morgan

Stanley

Institutional

Liquidity

Funds

Government

Portfolio,

Institutional

Class,

0.03% 

(b)

(Cost

$307,574)

307,574‌

Investments,

at

value

-

100.0%

(Cost

$4,826,233)

$

6,769,761‌

Other

Assets

&

Liabilities,

Net

-

0.0%

1,191‌

Net

Assets

-

100.0%

$

6,770,952‌

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,

2021.

Valuation

Inputs

Investments

in

Securities

Level

1

-

Quoted

Prices

$

6,462,187‌

Level

2

-

Other

Significant

Observable

Inputs

307,574‌

Level

3

-

Significant

Unobservable

Inputs

–‌

Total

$

6,769,761‌

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

June

30,

2021

2

The

Level

1

value

displayed

in

this

table

is

Common

Stock.

The

Level

2

value

displayed

in

this

table

is

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.