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Form N-Q FORUM FUNDS II For: Jun 30

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August 23, 2019 10:19 AM EDT

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-22842

FORUM FUNDS II
Three Canal Plaza, Suite 600
Portland, Maine 04101

Jessica Chase, Principal Executive Officer
Three Canal Plaza, Suite 600
Portland, Maine 04101
207-347-2000

Date of fiscal year end: September 30

Date of reporting period: April 1, 2019 – June 30, 2019




Item 1.  Schedule of Investments.


 

BAYWOOD VALUEPLUS FUND
SCHEDULE OF INVESTMENTS (Unaudited)
JUNE 30, 2019

 

 

Shares     Security Description   Value  
Common Stock - 95.9%      
Basic Materials - 6.6%    
  966     Corteva, Inc. (a)   $ 28,565  
  733     Dow, Inc.     36,144  
  366     DuPont de Nemours, Inc.     27,476  
  1,160     Nutrien, Ltd.     62,013  
  300     Packaging Corp. of America     28,596  
              182,794  
Capital Goods / Industrials - 8.9%
  600     Cummins, Inc.     102,804  
  500     Eaton Corp. PLC     41,640  
  1,300     Johnson Controls International PLC     53,703  
  500     TE Connectivity, Ltd.     47,890  
              246,037  
Communication Services - 5.2%        
  1,800     CenturyLink, Inc.     21,168  
  1,400     Comcast Corp., Class A     59,192  
  1,100     Verizon Communications, Inc.     62,843  
              143,203  
Consumer Discretionary - 6.2%        
  500     Lear Corp.     69,635  
  500     Tapestry, Inc.     15,865  
  1,000     Target Corp.     86,610  
              172,110  
Consumer Staples - 9.5%        
  300     Kimberly-Clark Corp.     39,984  
  1,000     Molson Coors Brewing Co., Class B     56,000  
  900     Mondelez International, Inc., Class A     48,510  
  300     PepsiCo., Inc.     39,339  
  700     Walmart, Inc.     77,343  
              261,176  
Energy - 10.1%        
  700     BP PLC, ADR     29,190  
  600     Chevron Corp.     74,664  
  500     ConocoPhillips     30,500  
  900     Helmerich & Payne, Inc.     45,558  
  800     Occidental Petroleum Corp.     40,224  
  400     Phillips 66     37,416  
  500     Schlumberger, Ltd.     19,870  
              277,422  
Financials - 20.7%        
  2,000     American International Group, Inc.     106,560  
  200     Ameriprise Financial, Inc.     29,032  
  700     BOK Financial Corp.     52,836  
  1,200     Citigroup, Inc.     84,036  
  700     Fidelity National Financial, Inc.     28,210  
  400     M&T Bank Corp.     68,028  
  1,400     MetLife, Inc.     69,538  
  1,100     Morgan Stanley     48,191  
  700     Prosperity Bancshares, Inc.     46,235  
  700     U.S. Bancorp     36,680  
              569,346  
Health Care - 12.4%        
  700     AbbVie, Inc.     50,904  
  300     Amgen, Inc.     55,284  
  1,000     AstraZeneca PLC, ADR     41,280  
  700     Gilead Sciences, Inc.     47,292  
  2,000     Koninklijke Philips NV, ADR     87,160  
  600     Medtronic PLC     58,434  
              340,354  
Real Estate - 4.4%        
  1,900     Brookfield Property REIT, Inc.     35,891  
  700     Taubman Centers, Inc. REIT     28,581  
  3,200     VEREIT, Inc. REIT     28,832  

 

Shares     Security Description   Value  
Real Estate - 4.4% (continued)        
  1,100     Weyerhaeuser Co. REIT   $ 28,974  
              122,278  
Technology - 8.1%        
  1,900     Cisco Systems, Inc.     103,987  
  1,300     HP, Inc.     27,027  
  1,100     Intel Corp.     52,657  
  200     International Business Machines Corp.     27,580  
  200     NetApp, Inc.     12,340  
              223,591  
Transportation - 1.8%        
  300     Union Pacific Corp.     50,733  
Utilities - 2.0%        
  700     Dominion Energy, Inc.     54,124  
Total Common Stock (Cost $2,320,675)     2,643,168  

 

Shares     Security Description   Value  
Money Market Fund - 3.9%      
  108,220     Federated Government Obligations Fund, Institutional Class, 2.24% (b)        
        (Cost $108,220)     108,220  
Investments, at value - 99.8% (Cost $2,428,895)   $ 2,751,388  
Other Assets & Liabilities, Net - 0.2%     6,535  
Net Assets - 100.0%   $ 2,757,923  

 

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, 2019.

 

The following is a summary of the inputs used to value the Fund's instruments as of June 30, 2019.

 

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.

1
 

BAYWOOD VALUEPLUS FUND
SCHEDULE OF INVESTMENTS (Unaudited)
JUNE 30, 2019

 

 

    Investments in  
Valuation Inputs   Securities  
Level 1 - Quoted Prices   $ 2,643,168  
Level 2 - Other Significant Observable Inputs     108,220  
Level 3 - Significant Unobservable Inputs     –  
Total   $ 2,751,388  

 

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.

 


2
 

BAYWOOD SOCIALLYRESPONSIBLE FUND
SCHEDULE OF INVESTMENTS  (Unaudited)
JUNE 30, 2019

 

 

  Shares     Security Description   Value  
Common Stock - 95.3%      
Basic Materials - 5.5%        
  1,900     Nutrien, Ltd.   $ 101,574  
  600     Packaging Corp. of America     57,192  
  2,400     The Mosaic Co.     60,072  
              218,838  
Capital Goods / Industrials - 5.1%        
  500     Cummins, Inc.     85,670  
  2,400     Sensata Technologies Holding PLC (a)     117,600  
              203,270  
Communication Services - 10.3%        
  3,000     CenturyLink, Inc.     35,280  
  1,200     Comcast Corp., Class A     50,736  
  3,400     Discovery, Inc., Class C (a)     96,730  
  900     The Walt Disney Co.     125,676  
  1,700     Verizon Communications, Inc.     97,121  
              405,543  
Consumer Discretionary - 5.8%        
  1,100     Aptiv PLC     88,913  
  400     CarMax, Inc. (a)     34,732  
  8,700     TRI Pointe Group, Inc. (a)     104,139  
              227,784  
Consumer Staples - 4.7%        
  2,000     Mondelez International, Inc., Class A     107,800  
  600     PepsiCo., Inc.     78,678  
              186,478  
Energy - 3.8%        
  3,300     Devon Energy Corp.     94,116  
  1,400     Schlumberger, Ltd.     55,636  
              149,752  
Financials - 25.5%        
  3,400     Air Lease Corp.     140,556  
  1,300     American Express Co.     160,472  
  2,200     American International Group, Inc.     117,216  
  3,700     Bank of America Corp.     107,300  
  1,600     BOK Financial Corp.     120,768  
  3,250     Brookfield Asset Management, Inc., Class A     155,285  
  500     M&T Bank Corp.     85,035  
  1,100     Oaktree Capital Group, LLC     54,494  
  2,800     Radian Group, Inc.     63,980  
              1,005,106  
Health Care - 13.4%        
  700     AbbVie, Inc.     50,904  
  1,400     AstraZeneca PLC, ADR     57,792  
  500     Becton Dickinson and Co.     126,005  
  3,200     Koninklijke Philips NV, ADR     139,456  
  400     Laboratory Corp. of America Holdings (a)     69,160  
  900     Medtronic PLC     87,651  
              530,968  
Real Estate - 5.0%        
4,600     Brookfield Property Partners LP     87,078  
  6,000     VEREIT, Inc. REIT     54,060  
  2,100     Weyerhaeuser Co. REIT     55,314  
              196,452  
Technology - 12.4%        
  2,600     Cisco Systems, Inc.     142,298  
  3,100     Corning, Inc.     103,013  
  3,400     HP, Inc.     70,686  
  1,800     Intel Corp.     86,166  
  900     NXP Semiconductors NV     87,849  
              490,012  

  

  Shares     Security Description   Value  
Transportation - 3.8%      
  10,400     AP Moller - Maersk A/S, ADR   $ 63,960  
  500     Union Pacific Corp.     84,555  
              148,515  
Total Common Stock (Cost $2,996,526)     3,762,718  

  

  Shares     Security Description   Value  
Money Market Fund - 4.1%    
  159,378     Morgan Stanley Institutional Liquidity Funds Government Portfolio, Institutional Class, 2.26% (b)        
        (Cost $159,378)     159,378  
Investments, at value - 99.4% (Cost $3,155,904)   $ 3,922,096  
Other Assets & Liabilities, Net - 0.6%     24,880  
Net Assets - 100.0%   $ 3,946,976  

 

ADR American Depositary Receipt
LLC Limited Liability Company
LP Limited Partnership
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, 2019.

  

Valuation Inputs   Investments in Securities  
Level 1 - Quoted Prices   $ 3,762,718  
Level 2 - Other Significant Observable Inputs     159,378  
Level 3 - Significant Unobservable Inputs     –  
Total   $ 3,922,096  

  

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.

1
 

CARAVAN FRONTIER MARKETS OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

JUNE 30, 2019

 

 

Shares     Security Description   Value  
Common Stock - 87.6%      
Argentina - 8.4%      
  32,200     Adecoagro SA (a)   $ 229,908  
  12,500     Banco BBVA Argentina SA, ADR     141,500  
  3,300     Banco Macro SA, ADR     240,405  
  100,836     Bolsas y Mercados Argentinos SA     883,042  
  15,217     Grupo Clarin SA, GDR (a)(b)(c)     27,941  
              1,522,796  
Bangladesh - 4.8%        
  723,671     Beximco Pharmaceuticals, Ltd., GDR (c)     353,825  
  560,097     Golden Harvest Agro Industries, Ltd. (a)     226,289  
  8,704     Youngone Corp.     281,175  
              861,289  
Colombia - 6.3%        
  134,550     Almacenes Exito SA     698,395  
  4,100     Bancolombia SA, ADR     209,264  
  161,862     CEMEX Latam Holdings SA (a)     229,181  
              1,136,840  
Cyprus - 1.5%        
  149,757     Bank of Cyprus Holdings PLC (a)     271,100  
Egypt - 4.5%        
  30,861     Commercial International Bank Egypt SAE     136,402  
  160,528     Egyptian Financial Group-Hermes Holding Co.     164,422  
  22,416     Egyptian International Pharmaceuticals EIPICO     106,072  
  171,940     ElSewedy Electric Co.     147,171  
  19,331     Integrated Diagnostics Holdings PLC (d)     95,689  
  82,396     Obour Land For Food Industries     35,781  
  199,817     Oriental Weavers     124,833  
              810,370  
Estonia - 1.0%        
  169,297     Tallink Grupp AS     185,962  
Georgia - 4.1%        
  12,125     Bank of Georgia Group PLC     230,664  
  18,671     Georgia Capital PLC (a)     258,452  
  12,198     TBC Bank Group PLC     245,995  
              735,111  
Kazakhstan - 3.4%        
  37,896     Halyk Savings Bank of Kazakhstan JSC, GDR     488,859  
  23,797     KCell JSC, GDR (a)     117,557  
              606,416  
Kenya - 4.5%        
  522,600     Equity Group Holdings, Ltd. PLC     198,491  
  527,400     KCB Group, Ltd.     196,714  
  1,502,200     Safaricom PLC     411,622  
              806,827  
Kuwait - 8.8%        
  153,363     Gulf Bank KSCP     153,616  
  57,327     Human Soft Holding Co. KSC     597,070  
  159,102     Mabanee Co. SAK     371,150  
  104,625     Mobile Telecommunications Co. KSC     182,706  
  86,963     National Bank of Kuwait SAKP     279,084  
              1,583,626  
Lithuania - 1.3%        
  441,442     Siauliu Bankas AB     228,393  
Mauritius - 1.2%        
  27,300     MCB Group, Ltd.     222,873  
Nigeria - 5.2%        
  7,036,390     Guaranty Trust Bank PLC     642,192  
  5,255,882     Zenith Bank PLC     288,688  
              930,880  

 

Shares     Security Description   Value  
Pakistan - 1.7%            
  85,100     Kohinoor Textile Mills, Ltd.   $ 13,344  
  38,200     Lucky Cement, Ltd.     90,980  
  60,500     MCB Bank, Ltd.     66,067  
  158,500     Oil & Gas Development Co., Ltd.     130,461  
              300,852  
Peru - 5.8%        
  147,698     Alicorp SAA, Class C     463,351  
  102,039     Banco BBVA Peru SA     116,207  
  1,000     Credicorp, Ltd.     228,910  
  340,435     Ferreycorp SAA     233,656  
              1,042,124  
Philippines - 8.9%        
  4,724,500     Cosco Capital, Inc. (c)     634,421  
  2,607,400     Megaworld Corp.     310,435  
  273,670     Metropolitan Bank & Trust Co.     380,580  
  19,141,000     STI Education Systems Holdings, Inc. (c)     276,458  
              1,601,894  
Romania - 3.1%        
  516,602     Banca Transilvania SA     297,801  
  87,735     BRD-Groupe Societe Generale SA     266,923  
              564,724  
Senegal - 0.9%        
  5,449     Sonatel SA     155,856  
Sri Lanka - 2.5%        
  405,676     John Keells Holdings PLC     318,804  
  757,731     Tokyo Cement Co. Lanka PLC (a)(c)     98,744  
  331,311     Tokyo Cement Co. Lanka PLC, Non-Voting Shares (a)(c)     34,352  
              451,900  
Ukraine - 1.1%        
  19,184     MHP SE, GDR     193,758  
United Arab Emirates - 0.6%        
  948,036     Gulf Marine Services PLC (a)     111,968  
United States - 0.8%        
  24,952     NetSol Technologies, Inc. (a)     139,482  
Vietnam - 7.2%        
  1,374,000     CP Pokphand Co., Ltd.     117,846  
  116,600     FPT Corp.     227,646  
  58,515     LS Cable & System Asia, Ltd. (c)     439,376  
  119,000     Military Commercial Joint Stock Bank     106,720  
  225,128     PetroVietnam Technical Services Corp.     222,182  
  4     Superdong Fast Ferry Kien Giang JSC     2  
  75,100     Vietnam Engine & Agricultural Machinery Corp. (a)     186,260  
              1,300,032  
Total Common Stock (Cost $18,442,262)     15,765,073  
Rights - 0.0%        
  420,073     Golden Harvest Agro Industries, Ltd. (a)(b)      
        (Cost $0)     0  
Investment Company - 1.9%        
  1,288,028     Fondul Proprietatea SA        
        (Cost $285,504)     331,722  
Exchange Traded Funds - 7.5%        
  24,300     iShares MSCI Frontier 100 ETF     719,766  
  10,700     iShares MSCI Saudi Arabia ETF     353,314  
  17,500     VanEck Vectors Vietnam ETF     280,350  
Total Exchange Traded Funds (Cost $1,258,014)     1,353,430  
1
 

CARAVAN FRONTIER MARKETS OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

JUNE 30, 2019

 

 

Shares   Security Description   Value  
Money Market Fund - 3.1%      
  554,759   Fidelity Investments Treasury Portfolio, Institutional Shares, 2.29% (e)    
      (Cost $554,759)   $ 554,759  
Investments, at value - 100.1% (Cost $20,540,539)   $ 18,004,984  
Other Assets & Liabilities, Net - (0.1)%     (12,061 )
Net Assets - 100.0%   $ 17,992,923  

 

ADR American Depositary Receipt
ETF Exchange Traded Fund
GDR Global Depositary Receipt
JSC Joint Stock Company
PLC Public Limited Company
(a) Non-income producing security.
(b) Security fair valued in accordance with procedures adopted by the Board of Trustees. At the period end, the value of these securities amounted to $27,941 or 0.2% of net assets.
(c) Illiquid Security.
(d) Security exempt from registration under Rule 144A under the Securities Act of 1933. At the period end, the value of these securities amounted to $95,689 or 0.5% of net assets.
(e) Dividend yield changes daily to reflect current market conditions. Rate was the quoted yield as of June 30, 2019.

 

The following is a summary of the inputs used to value the Fund's investments as of June 30, 2019.

 

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.

 

Valuation Inputs   Investments in Securities  
Level 1 - Quoted Prices   $ 17,422,284  
Level 2 - Other Significant Observable Inputs     554,759  
Level 3 - Significant Unobservable Inputs     27,941  
Total   $ 18,004,984  

 

The Level 1 value displayed in this table are Common Stock, Investment Companies and Exchange Traded Funds. 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 country.

 

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value.

 

    Common Stock     Rights  
Balance as of September 30, 2018   $ 50,416     $ –  
Change in Unrealized Appreciation/(Depreciation)     (22,475 )     –  
Balance as of June 30, 2019   $ 27,941     $ 0  
Net change in unrealized appreciation/(depreciation) from investments held as of June 30, 2019   $ (22,475 )   $ –  

 

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.

2



Item 2.  Controls and Procedures.
(a) The registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) are effective, based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b)  under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as of a date within 90 days of the filing date of this report
 (b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3.  Exhibits
Certifications as required by Rule 30a-2(a) under the Act.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
FORUM FUNDS II

By:
/s/ Jessica Chase
  
 
Jessica Chase, Principal Executive Officer
  
     
Date:
August 20, 2019
  

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:
/s/ Jessica Chase
  
 
Jessica Chase, Principal Executive Officer
  
     
Date:
August 20, 2019
  


By:
/s/ Karen Shaw
  
 
Karen Shaw, Principal Financial Officer
  
     
Date:
August 20, 2019
  






Exhibit 1A

Forum Funds II

I, Jessica Chase, certify that:

1. I have reviewed this report on Form N-Q of Forum Funds II (Caravan Frontier Markets Opportunities Fund, Baywood ValuePlus Fund and Baywood SociallyResponsible Fund);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)  Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
       
Date:
August 20, 2019
  
/s/ Jessica Chase
     
Jessica Chase
     
Principal Executive Officer






Exhibit 1B

Forum Funds II

I, Karen Shaw, certify that:

1. I have reviewed this report on Form N-Q of Forum Funds II (Caravan Frontier Markets Opportunities Fund, Baywood ValuePlus Fund and Baywood SociallyResponsible Fund);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b)  Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
       
Date:
August 20, 2019
  
/s/ Karen Shaw
     
Karen Shaw
     
Principal Financial Officer







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