<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0505</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000315774</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-03023</fileNumber>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000004568</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000004570</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000033130</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000037552</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2026-06-30" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>FORUM FUNDS</registrantFullName>
      <investmentCompFileNo>811-03023</investmentCompFileNo>
      <registrantCik>0000315774</registrantCik>
      <registrantLei>549300LXYEU14CHGAO13</registrantLei>
      <registrantstreet1>190 MIDDLE STREET, SUITE 101</registrantstreet1>
      <registrantcity>PORTLAND</registrantcity>
      <registrantzipCode>04101</registrantzipCode>
      <registrantstate>US-ME</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>207-347-2000</registrantphoneNumber>
      <websites>
        <website webpage="N/A"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Apex Fund Serveces</officeName>
          <officeAddress1>190 MIDDLE STREET, SUITE 101</officeAddress1>
          <officeCity>Portland</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-ME"/>
          <officeRecordsZipCode>04101</officeRecordsZipCode>
          <officePhone>207-347-2000</officePhone>
          <booksRecordsDesc>Fund and shareholder records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Auxier Asset Management LLC</officeName>
          <officeAddress1>156689 NE Eilers Road</officeAddress1>
          <officeCity>Aurora</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-OR"/>
          <officeRecordsZipCode>97002</officeRecordsZipCode>
          <officePhone>800-835-9556</officePhone>
          <booksRecordsDesc>Records as Adviser for Fund</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>D.F. Dent and Company, Inc.</officeName>
          <officeAddress1>400 E. Prat Street, 7th Floor</officeAddress1>
          <officeCity>Baltimore</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MD"/>
          <officeRecordsZipCode>21202</officeRecordsZipCode>
          <officePhone>410-837-2544</officePhone>
          <booksRecordsDesc>Records as Adviser for Funds</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Foreside Fund Services, LLC</officeName>
          <officeAddress1>190 MIDDLE STREET, SUITE 301</officeAddress1>
          <officeCity>Portland</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-ME"/>
          <officeRecordsZipCode>04101</officeRecordsZipCode>
          <officePhone>866-251-6920</officePhone>
          <booksRecordsDesc>Records as Distributor for Trust</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>U.S. Bank</officeName>
          <officeAddress1>1555 N. Rivercenter Dr., Ste 302</officeAddress1>
          <officeCity>Milwaukee</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-WI"/>
          <officeRecordsZipCode>53212</officeRecordsZipCode>
          <officePhone>414-276-3737</officePhone>
          <booksRecordsDesc>Records as Custodian for Trust</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="FORUM FMLY"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>10</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>DAVID TUCKER</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-01800"/>
            <fileNumberInfo fileNumber="811-22679"/>
            <fileNumberInfo fileNumber="811-22842"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>JENNIFER BROWN-STRABLEY</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-01800"/>
            <fileNumberInfo fileNumber="811-22679"/>
            <fileNumberInfo fileNumber="811-22842"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>KAREN SHAW</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-01800"/>
            <fileNumberInfo fileNumber="811-22679"/>
            <fileNumberInfo fileNumber="811-22842"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>MARK D MOYER</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-01800"/>
            <fileNumberInfo fileNumber="811-22679"/>
            <fileNumberInfo fileNumber="811-22842"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>CARLYN EDGAR</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>190 Middle Street,</ccoStreet1>
          <ccoStreet2>Suite 101</ccoStreet2>
          <ccoCity>PORTLAND</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-ME"/>
          <ccoZipCode>04101</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>FORESIDE FUND SERVICES, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>008-51293</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000046106</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-ME"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>N</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>COHEN &amp; COMPANY</publicAccountantName>
          <pcaobNumber>925</pcaobNumber>
          <publicAccountantLei>894500VWSNITUVG9E667</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-PA"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y">
        <seriesInfo seriesName="Auxier Focus Fund" seriesId="S000004570"/>
        <seriesInfo seriesName="DF Dent Premier Growth Fund" seriesId="S000004568"/>
      </paymentDividendSeries>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>AUXIER FOCUS FUND</mgmtInvFundName>
        <mgmtInvSeriesId>S000004570</mgmtInvSeriesId>
        <mgmtInvLei>2549005EIHS90NEXOQ80</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="A SHARES" sharesOutstandingClassId="C000012491" sharesOutstandingTickerSymbol="AUXAX"/>
          <sharesOutstanding sharesOutstandingClassName="INSTITUTIONAL SHARES" sharesOutstandingClassId="C000112762" sharesOutstandingTickerSymbol="AUXIX"/>
          <sharesOutstanding sharesOutstandingClassName="INVESTOR SHARES" sharesOutstandingClassId="C000012493" sharesOutstandingTickerSymbol="AUXFX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>AUXIER ASSET MANAGEMENT LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-55757</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000107980</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-OR" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>APEX FUND SERVICES</transferAgentName>
            <transferAgentFileNo>84-06277</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-ME" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>London Stock Exchange Group</pricingServiceName>
            <pricingServiceLei>213800QAUUUP6I445N30</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>US Bank, N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-MN" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Apex Fund Services</shareholderServiceAgentName>
            <shareholderServiceAgentLei>N/A</shareholderServiceAgentLei>
            <shareholderServiceAgentRssdId>N/A</shareholderServiceAgentRssdId>
            <shareholderServiceAgentOther>84-06277</shareholderServiceAgentOther>
            <shareholderServiceIdNumberDesc>SEC FILE NUMBER</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-ME" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Apex Fund Services </adminName>
            <adminLei>N/A</adminLei>
            <adminRssdId>N/A</adminRssdId>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Foreside Fund Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-51293</brokerDealerFileNo>
            <brokerDealerCrdNo>000046106</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerRssdId>N/A</brokerDealerRssdId>
            <brokerDealerStateCountry brokerDealerState="US-ME" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.0</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</brokerName>
            <brokerFileNo>8-1447</brokerFileNo>
            <brokerCrdNo>000000793</brokerCrdNo>
            <brokerLei>5WUVMA08EYG4KEUPW589</brokerLei>
            <brokerStateCountry brokerState="US-MO" brokerCountry="US"/>
            <grossCommission>461.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CHARLES SCHWAB &amp; CO INC</brokerName>
            <brokerFileNo>8-16514</brokerFileNo>
            <brokerCrdNo>000005393</brokerCrdNo>
            <brokerLei>549300ZP8XN77GK5BS04</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>749.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARRINGTON RESEARCH ASSOCIATES, INC.</brokerName>
            <brokerFileNo>8-29831</brokerFileNo>
            <brokerCrdNo>000013820</brokerCrdNo>
            <brokerLei>549300EAYDU2H358PB45</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>947.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>RBC CAPITAL MARKETS, LLC</brokerName>
            <brokerFileNo>8-45411</brokerFileNo>
            <brokerCrdNo>000031194</brokerCrdNo>
            <brokerLei>549300LCO2FLSSVFFR64</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1918.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CLEAR STREET, LLC</brokerName>
            <brokerFileNo>8-69972</brokerFileNo>
            <brokerCrdNo>000288933</brokerCrdNo>
            <brokerLei>549300DPEDN3YY2IMW76</brokerLei>
            <brokerStateCountry brokerState="US-DE" brokerCountry="US"/>
            <grossCommission>4310.90000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>8387.35000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>CHARLES SCHWAB &amp; CO INC</principalName>
            <principalFileNo>8-16514</principalFileNo>
            <principalCrdNo>000005393</principalCrdNo>
            <principalLei>549300ZP8XN77GK5BS04</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>143117259.71000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>143117259.71000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>315614766.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>ICE Data Pricing &amp; Reference Data, LLC</liquidityName>
            <liquidityLei>5493000NQ9LYLDBCTL34</liquidityLei>
            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>N</isAffiliatedPerson>
            <assetClassType>Debt</assetClassType>
            <assetClassType>Equity-common</assetClassType>
            <assetClassType>Equity-preferred</assetClassType>
          </liquidityClassificationService>
        </liquidityClassifications>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>DF DENT MIDCAP GROWTH FUND</mgmtInvFundName>
        <mgmtInvSeriesId>S000033130</mgmtInvSeriesId>
        <mgmtInvLei>2549007NXD389Z41SM07</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="INSTITUTIONAL PLUS SHARES " sharesOutstandingClassId="C000231957" sharesOutstandingTickerSymbol="DFMLX"/>
          <sharesOutstanding sharesOutstandingClassName="INSTITUTIONAL SHARES " sharesOutstandingClassId="C000195205" sharesOutstandingTickerSymbol="DFMGX"/>
          <sharesOutstanding sharesOutstandingClassName="INVESTOR SHARES " sharesOutstandingClassId="C000102025" sharesOutstandingTickerSymbol="DFDMX "/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>D.F. DENT AND COMPANY, INC.</investmentAdviserName>
            <investmentAdviserFileNo>801-11364</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105179</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>APEX FUND SERVICES</transferAgentName>
            <transferAgentFileNo>84-06277</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-ME" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>US Bank, N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-MN" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Apex Fund Services</shareholderServiceAgentName>
            <shareholderServiceAgentLei>N/A</shareholderServiceAgentLei>
            <shareholderServiceAgentRssdId>N/A</shareholderServiceAgentRssdId>
            <shareholderServiceAgentOther>84-06277</shareholderServiceAgentOther>
            <shareholderServiceIdNumberDesc>SEC FILE NUMBER</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-ME" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Apex Fund Services</adminName>
            <adminLei>N/A</adminLei>
            <adminRssdId>N/A</adminRssdId>
            <adminOther>84-06277</adminOther>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Foreside Fund Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-51293</brokerDealerFileNo>
            <brokerDealerCrdNo>000046106</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerRssdId>N/A</brokerDealerRssdId>
            <brokerDealerStateCountry brokerDealerState="US-ME" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.0</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>J.P. MORGAN SECURITIES LLC</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>765.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>RAYMOND JAMES &amp; ASSOCIATES, INC.</brokerName>
            <brokerFileNo>8-10999</brokerFileNo>
            <brokerCrdNo>000000705</brokerCrdNo>
            <brokerLei>U4ONQX15J3RO8XCKE979</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>38496.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</brokerName>
            <brokerFileNo>8-1447</brokerFileNo>
            <brokerCrdNo>000000793</brokerCrdNo>
            <brokerLei>5WUVMA08EYG4KEUPW589</brokerLei>
            <brokerStateCountry brokerState="US-MO" brokerCountry="US"/>
            <grossCommission>15487.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>WILLIAM BLAIR &amp; COMPANY, L.L.C.</brokerName>
            <brokerFileNo>8-2698</brokerFileNo>
            <brokerCrdNo>000001252</brokerCrdNo>
            <brokerLei>549300J0P7XYE8BMZ775</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>12260.90000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO. INCORPORATED</brokerName>
            <brokerFileNo>8-497</brokerFileNo>
            <brokerCrdNo>000008158</brokerCrdNo>
            <brokerLei>549300772UJAHRD6LO53</brokerLei>
            <brokerStateCountry brokerState="US-WI" brokerCountry="US"/>
            <grossCommission>45964.25000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>112974.80000000</aggregateCommission>
        <principalAggregatePurchase>0.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>317062746.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>DF DENT PREMIER GROWTH FUND</mgmtInvFundName>
        <mgmtInvSeriesId>S000004568</mgmtInvSeriesId>
        <mgmtInvLei>254900IOIQBZTORVKC96</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="SHARES" sharesOutstandingClassId="C000012489" sharesOutstandingTickerSymbol="DFDPX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>D.F. DENT AND COMPANY, INC.</investmentAdviserName>
            <investmentAdviserFileNo>801-11364</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105179</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>APEX FUND SERVICES</transferAgentName>
            <transferAgentFileNo>84-06277</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-ME" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>US Bank, N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-MN" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Apex Fund Services</shareholderServiceAgentName>
            <shareholderServiceAgentLei>N/A</shareholderServiceAgentLei>
            <shareholderServiceAgentRssdId>N/A</shareholderServiceAgentRssdId>
            <shareholderServiceAgentOther>84-06277</shareholderServiceAgentOther>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-ME" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Apex Fund Services</adminName>
            <adminLei>N/A</adminLei>
            <adminRssdId>N/A</adminRssdId>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Foreside Fund Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-51293</brokerDealerFileNo>
            <brokerDealerCrdNo>000046106</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerRssdId>N/A</brokerDealerRssdId>
            <brokerDealerStateCountry brokerDealerState="US-ME" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.0</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>J.P. MORGAN SECURITIES LLC</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4995.20000000</grossCommission>
          </broker>
          <broker>
            <brokerName>RAYMOND JAMES &amp; ASSOCIATES, INC.</brokerName>
            <brokerFileNo>8-10999</brokerFileNo>
            <brokerCrdNo>000000705</brokerCrdNo>
            <brokerLei>U4ONQX15J3RO8XCKE979</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>15997.55000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</brokerName>
            <brokerFileNo>8-1447</brokerFileNo>
            <brokerCrdNo>000000793</brokerCrdNo>
            <brokerLei>5WUVMA08EYG4KEUPW589</brokerLei>
            <brokerStateCountry brokerState="US-MO" brokerCountry="US"/>
            <grossCommission>10784.95000000</grossCommission>
          </broker>
          <broker>
            <brokerName>WILLIAM BLAIR &amp; COMPANY, L.L.C.</brokerName>
            <brokerFileNo>8-2698</brokerFileNo>
            <brokerCrdNo>000001252</brokerCrdNo>
            <brokerLei>549300J0P7XYE8BMZ775</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>11823.65000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STEPHENS, INC.</brokerName>
            <brokerFileNo>8-1927</brokerFileNo>
            <brokerCrdNo>000003496</brokerCrdNo>
            <brokerLei>213800LH6T9XDYZCA534</brokerLei>
            <brokerStateCountry brokerState="US-AR" brokerCountry="US"/>
            <grossCommission>1535.55000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO. INCORPORATED</brokerName>
            <brokerFileNo>8-497</brokerFileNo>
            <brokerCrdNo>000008158</brokerCrdNo>
            <brokerLei>549300772UJAHRD6LO53</brokerLei>
            <brokerStateCountry brokerState="US-WI" brokerCountry="US"/>
            <grossCommission>22971.70000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>68108.60000000</aggregateCommission>
        <principalAggregatePurchase>0.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>218563518.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>DF DENT SMALL CAP GROWTH FUND</mgmtInvFundName>
        <mgmtInvSeriesId>S000037552</mgmtInvSeriesId>
        <mgmtInvLei>254900Z87DGT7PD99J39</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="INSTITUTIONAL SHARES" sharesOutstandingClassId="C000195206" sharesOutstandingTickerSymbol="DFSGX"/>
          <sharesOutstanding sharesOutstandingClassName="INVESTOR SHARES" sharesOutstandingClassId="C000115949" sharesOutstandingTickerSymbol="DFDSX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>D.F. DENT AND COMPANY, INC.</investmentAdviserName>
            <investmentAdviserFileNo>801-11364</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105179</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>APEX FUND SERVICES</transferAgentName>
            <transferAgentFileNo>84-06277</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-ME" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>US Bank, N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-MN" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Apex Fund Services </shareholderServiceAgentName>
            <shareholderServiceAgentLei>N/A</shareholderServiceAgentLei>
            <shareholderServiceAgentRssdId>N/A</shareholderServiceAgentRssdId>
            <shareholderServiceAgentOther>84-06277</shareholderServiceAgentOther>
            <shareholderServiceIdNumberDesc>SEC FILE NUMBER</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-ME" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>Y</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Apex Fund Services</adminName>
            <adminLei>N/A</adminLei>
            <adminRssdId>N/A</adminRssdId>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>FORESIDE FUND SERVICES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-51293</brokerDealerFileNo>
            <brokerDealerCrdNo>000046106</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-ME" brokerDealerCountry="US"/>
            <brokerDealerCommission>0</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>RAYMOND JAMES &amp; ASSOCIATES, INC.</brokerName>
            <brokerFileNo>8-10999</brokerFileNo>
            <brokerCrdNo>000000705</brokerCrdNo>
            <brokerLei>U4ONQX15J3RO8XCKE979</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>35848.30000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STIFEL, NICOLAUS &amp; COMPANY, INCORPORATED</brokerName>
            <brokerFileNo>8-1447</brokerFileNo>
            <brokerCrdNo>000000793</brokerCrdNo>
            <brokerLei>5WUVMA08EYG4KEUPW589</brokerLei>
            <brokerStateCountry brokerState="US-MO" brokerCountry="US"/>
            <grossCommission>38716.75000000</grossCommission>
          </broker>
          <broker>
            <brokerName>WILLIAM BLAIR &amp; COMPANY, L.L.C.</brokerName>
            <brokerFileNo>8-2698</brokerFileNo>
            <brokerCrdNo>000001252</brokerCrdNo>
            <brokerLei>549300J0P7XYE8BMZ775</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>13136.95000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STEPHENS, INC.</brokerName>
            <brokerFileNo>8-1927</brokerFileNo>
            <brokerCrdNo>000003496</brokerCrdNo>
            <brokerLei>213800LH6T9XDYZCA534</brokerLei>
            <brokerStateCountry brokerState="US-AR" brokerCountry="US"/>
            <grossCommission>3422.55000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO. INCORPORATED</brokerName>
            <brokerFileNo>8-497</brokerFileNo>
            <brokerCrdNo>000008158</brokerCrdNo>
            <brokerLei>549300772UJAHRD6LO53</brokerLei>
            <brokerStateCountry brokerState="US-WI" brokerCountry="US"/>
            <grossCommission>30748.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>ROSENBLATT (RICHARD A) &amp; COMPANY</brokerName>
            <brokerFileNo>8-35427</brokerFileNo>
            <brokerCrdNo>000018377</brokerCrdNo>
            <brokerLei>549300KXQP6H4QO07E91</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>249.85000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>122122.65000000</aggregateCommission>
        <principalAggregatePurchase>0.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>171634819.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="FORUM FUNDS" signedDate="2026-08-25" signature="KAREN SHAW" title="TREASURER"/>
  </formData>
</edgarSubmission>
