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

Filed: 29 Jan 25, 11:31am

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BAYWOOD

VALUE

PLUS

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

December

31,

2024

1

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's instruments

as

of

December

31,

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

-

96.0%

Basic

Materials

-

3.1%

300‌

Air

Products

and

Chemicals,

Inc.

$

87,012‌

300‌

Packaging

Corp.

of

America

67,539‌

154,551‌

Capital

Goods

/

Industrials

-

8.6%

800‌

3M

Co.

103,272‌

300‌

L3Harris

Technologies,

Inc.

63,084‌

80‌

Parker-Hannifin

Corp.

50,882‌

1,800‌

RTX

Corp.

208,296‌

425,534‌

Communication

Services

-

5.2%

7,600‌

AT&T,

Inc.

173,052‌

2,200‌

Comcast

Corp.,

Class A

82,566‌

255,618‌

Consumer

Discretionary

-

8.2%

500‌

Darden

Restaurants,

Inc.

93,345‌

400‌

Genuine

Parts

Co.

46,704‌

800‌

Hasbro,

Inc.

44,728‌

1,400‌

Kontoor

Brands,

Inc.

119,574‌

500‌

Lear

Corp.

47,350‌

200‌

Lowe's

Cos.,

Inc.

49,360‌

401,061‌

Consumer

Staples

-

7.8%

650‌

Ingredion,

Inc.

89,414‌

4,200‌

Kenvue,

Inc.

89,670‌

1,110‌

Molson

Coors

Beverage

Co.,

Class B

63,625‌

300‌

PepsiCo.,

Inc.

45,618‌

400‌

Target

Corp.

54,072‌

250‌

The

Hershey

Co.

42,338‌

384,737‌

Energy

-

8.6%

500‌

Chevron

Corp.

72,420‌

1,100‌

ConocoPhillips

109,087‌

6,200‌

Kinder

Morgan,

Inc.

169,880‌

650‌

Phillips

66

74,054‌

425,441‌

Financials

-

21.0%

1,500‌

Air

Lease

Corp.

72,315‌

1,100‌

American

International

Group,

Inc.

80,080‌

1,100‌

Brookfield

Asset

Management,

Ltd.

59,609‌

1,200‌

Citigroup,

Inc.

84,468‌

580‌

CME

Group,

Inc.

134,693‌

3,900‌

Corebridge

Financial,

Inc.

116,727‌

1,200‌

MetLife,

Inc.

98,256‌

3,000‌

Radian

Group,

Inc.

95,160‌

700‌

The

Charles

Schwab

Corp.

51,807‌

2,100‌

Truist

Financial

Corp.

91,098‌

1,500‌

U.S.

Bancorp

71,745‌

1,100‌

Wells

Fargo

&

Co.

77,264‌

1,033,222‌

Health

Care

-

13.4%

190‌

Amgen,

Inc.

49,522‌

400‌

Cardinal

Health,

Inc.

47,308‌

4,100‌

DENTSPLY

SIRONA,

Inc.

77,818‌

3,736‌

Koninklijke

Philips

NV,

ADR

94,595‌

2,050‌

Medtronic

PLC

163,754‌

1,300‌

Merck

&

Co.,

Inc.

129,324‌

3,600‌

Pfizer,

Inc.

95,508‌

657,829‌

Real

Estate

-

5.5%

4,200‌

Healthcare

Realty

Trust,

Inc.

REIT

71,190‌

1,104‌

Realty

Income

Corp.

REIT

58,965‌

2,600‌

VICI

Properties,

Inc.

REIT

75,946‌

Shares

Security

Description

Value

Real

Estate

-

5.5%

(continued)

2,300‌

Weyerhaeuser

Co.

REIT

$

64,745‌

270,846‌

Technology

-

8.6%

1,200‌

Cisco

Systems,

Inc.

71,040‌

650‌

International

Business

Machines

Corp.

142,890‌

600‌

NetApp,

Inc.

69,648‌

400‌

NXP

Semiconductors

NV

83,140‌

300‌

Texas

Instruments,

Inc.

56,253‌

422,971‌

Transportation

-

2.4%

250‌

FedEx

Corp.

70,333‌

200‌

Union

Pacific

Corp.

45,608‌

115,941‌

Utilities

-

3.6%

800‌

American

Electric

Power

Co.,

Inc.

73,784‌

1,200‌

Pinnacle

West

Capital

Corp.

101,724‌

175,508‌

Total

Common

Stock

(Cost

$3,598,601)

4,723,259‌

Shares

Security

Description

Value

Money

Market

Fund

-

3.5%

171,070‌

First

American

Government

Obligations

Fund,

Class X,

4.39%

(a)

(Cost

$171,070)

171,070‌

Investments,

at

value

-

99.5%

(Cost

$3,769,671)

$

4,894,329‌

Other

Assets

&

Liabilities,

Net

-

0.5%

24,785‌

Net

Assets

-

100.0%

$

4,919,114‌

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

December

31,

2024.

BAYWOOD

VALUE

PLUS

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

December

31,

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

$

4,894,329‌

Level

2

-

Other

Significant

Observable

Inputs

–‌

Level

3

-

Significant

Unobservable

Inputs

–‌

Total

$

4,894,329‌

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

December

31,

2024

3

The

following

is

a

summary

of

the

inputs

used

to

value

the

Fund's instruments

as

of

December

31,

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

-

93.6%

Basic

Materials

-

3.6%

200‌

Air

Products

and

Chemicals,

Inc.

$

58,008‌

5,900‌

Graphic

Packaging

Holding

Co.

160,244‌

400‌

Packaging

Corp.

of

America

90,052‌

308,304‌

Capital

Goods

/

Industrials

-

7.9%

800‌

3M

Co.

103,272‌

34,500‌

Clarivate

PLC

(a)

175,260‌

300‌

Cummins,

Inc.

104,580‌

4,400‌

nVent

Electric

PLC

299,904‌

683,016‌

Communication

Services

-

5.4%

600‌

Alphabet,

Inc.,

Class A

113,580‌

9,200‌

AT&T,

Inc.

209,484‌

3,800‌

Comcast

Corp.,

Class A

142,614‌

465,678‌

Consumer

Discretionary

-

3.4%

400‌

Aptiv

PLC

(a)

24,192‌

700‌

Genuine

Parts

Co.

81,732‌

2,200‌

Kontoor

Brands,

Inc.

187,902‌

293,826‌

Consumer

Staples

-

4.5%

10,200‌

Kenvue,

Inc.

217,770‌

1,600‌

Mondelez

International,

Inc.,

Class A

95,568‌

500‌

PepsiCo.,

Inc.

76,030‌

389,368‌

Energy

-

7.9%

2,600‌

Devon

Energy

Corp.

85,098‌

11,000‌

Kinder

Morgan,

Inc.

301,400‌

2,100‌

Schlumberger

NV

80,514‌

200‌

Texas

Pacific

Land

Corp.

221,192‌

688,204‌

Financials

-

24.5%

2,600‌

Air

Lease

Corp.

125,346‌

1,300‌

American

Express

Co.

385,827‌

3,100‌

American

International

Group,

Inc.

225,680‌

500‌

Berkshire

Hathaway,

Inc.,

Class B

(a)

226,640‌

2,475‌

Brookfield

Corp.

142,189‌

400‌

Cboe

Global

Markets,

Inc.

78,160‌

1,100‌

CME

Group,

Inc.

255,453‌

7,000‌

Corebridge

Financial,

Inc.

209,510‌

500‌

Interactive

Brokers

Group,

Inc.

88,335‌

2,900‌

Truist

Financial

Corp.

125,802‌

4,450‌

W

R

Berkley

Corp.

260,414‌

2,123,356‌

Health

Care

-

18.1%

1,500‌

AstraZeneca

PLC,

ADR

98,280‌

8,100‌

Avantor,

Inc.

(a)

170,667‌

800‌

Becton

Dickinson

&

Co.

181,496‌

6,800‌

DENTSPLY

SIRONA,

Inc.

129,064‌

8,000‌

Fortrea

Holdings,

Inc.

(a)

149,200‌

6,008‌

Koninklijke

Philips

NV,

ADR

152,122‌

650‌

Labcorp

Holdings,

Inc.

149,058‌

2,700‌

Medtronic

PLC

215,676‌

1,800‌

Merck

&

Co.,

Inc.

179,064‌

200‌

Regeneron

Pharmaceuticals,

Inc.

(a)

142,466‌

1,567,093‌

Real

Estate

-

4.4%

10,000‌

Healthcare

Realty

Trust,

Inc.

REIT

169,500‌

2,571‌

Realty

Income

Corp.

REIT

137,317‌

2,800‌

Weyerhaeuser

Co.

REIT

78,820‌

385,637‌

Shares

Security

Description

Value

Technology

-

11.6%

2,300‌

Cisco

Systems,

Inc.

$

136,160‌

800‌

Coherent

Corp.

(a)

75,784‌

2,800‌

Corning,

Inc.

133,056‌

5,600‌

Intel

Corp.

112,280‌

1,200‌

International

Business

Machines

Corp.

263,796‌

1,000‌

NetApp,

Inc.

116,080‌

800‌

NXP

Semiconductors

NV

166,280‌

1,003,436‌

Transportation

-

1.3%

500‌

Union

Pacific

Corp.

114,020‌

Utilities

-

1.0%

900‌

WEC

Energy

Group,

Inc.

84,636‌

Total

Common

Stock

(Cost

$5,464,014)

8,106,574‌

Shares

Security

Description

Value

Money

Market

Fund

-

6.1%

529,617‌

First

American

Government

Obligations

Fund,

Class X,

4.39%

(b)

(Cost

$529,617)

529,617‌

Investments,

at

value

-

99.7%

(Cost

$5,993,631)

$

8,636,191‌

Other

Assets

&

Liabilities,

Net

-

0.3%

28,558‌

Net

Assets

-

100.0%

$

8,664,749‌

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

December

31,

2024.

BAYWOOD

SOCIALLY

RESPONSIBLE

FUND

SCHEDULE

OF

INVESTMENTS

(Unaudited)

December

31,

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.

Valuation

Inputs

Investments

in

Securities

Level

1

-

Quoted

Prices

$

8,636,191‌

Level

2

-

Other

Significant

Observable

Inputs

–‌

Level

3

-

Significant

Unobservable

Inputs

–‌

Total

$

8,636,191‌

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