# EDGAR Filing Document

**Accession Number:** 0000948258
**File Stem:** 0001752724-25-189531
**Filing Date:** 2025-8
**Character Count:** 56301
**Document Hash:** 78f648fe3fb243e4f058e4cc8d138096
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-189531.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001752724-25-189531

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** M FUND INC
- **CENTRAL INDEX KEY:** 0000948258

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09082
- **FILM NUMBER:** 251223150

**BUSINESS ADDRESS:**
- **STREET 1:** 1125 NW COUCH STREET
- **STREET 2:** SUITE 900
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97209
- **BUSINESS PHONE:** 5032326960

**MAIL ADDRESS:**
- **STREET 1:** 1125 NW COUCH STREET
- **STREET 2:** SUITE 900
- **CITY:** PORTLAND
- **STATE:** OR
- **ZIP:** 97209

## Series and Classes Contracts Data

### M Capital Appreciation Fund (Series ID: S000006153)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000016960 | M Capital Appreciation Fund | MFCPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** M FUND INC

- **b. Investment Company Act file number:** 811-09082

- **c. CIK number of Registrant:** 0000948258

- **d. LEI of Registrant:** 5493007H7VIH3Y9VBE66

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1125 NW COUCH STREET,

  - **City:** PORTLAND

  - **State:** OR

  - **Foreign country:** US

  - **Zip / Postal Code:** 97209

  - **Telephone number:** 888-736-2878

**Item A.2. Information about the Series.**

- **a. Name of Series:** M Capital Appreciation Fund

- **b. EDGAR series identifier (if any):** S000006153

- **c. LEI of Series:** 549300DYWIBRMLTCXW75

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $226985439.15

**Total Liabilities:** $2544639.73

**Net Assets:** $224440799.42

**Cash Not Reported:** $1895218.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016960 | -1.34%               | 8.70%                | 7.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1230549.55              | $-3677036.79                               |
| Month 2  | $1977840.88              | $15070227.90                               |
| Month 3  | $3835690.54              | $13040885.18                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FMC Corp                                     | FMC Corp.                                                                   | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     28351 | NS      | $1183654.25   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico                    | First BanCorp                                                               | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     81956 | NS      | $1707143.48   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International, Inc.                              | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      7440 | NS      | $1128871.20   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                             | Pure Storage, Inc.                                                          | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     32256 | NS      | $1857300.48   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc                | Independence Realty Trust, Inc.                                             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |     41653 | NS      | $736841.57    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc                             | EPAM Systems, Inc.                                                          | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     10010 | NS      | $1769968.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                    | Jabil, Inc.                                                                 | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     19166 | NS      | $4180104.60   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                               | Albemarle Corp.                                                             | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     12539 | NS      | $785819.13    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp                    | Carpenter Technology Corp.                                                  | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     21820 | NS      | $6030611.60   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                  | Rogers Corp.                                                                | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     10783 | NS      | $738419.84    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                       | Eastern Bankshares, Inc.                                                    | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |     53790 | NS      | $821373.30    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                                     | Okta, Inc.                                                                  | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     10966 | NS      | $1096271.02   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                  | Trex Co., Inc.                                                              | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35346 | NS      | $1922115.48   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                          | Exact Sciences Corp.                                                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     31493 | NS      | $1673538.02   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                  | Revvity, Inc.                                                               | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |      9233 | NS      | $893015.76    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                      | RXO, Inc.                                                                   | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     86347 | NS      | $1357374.84   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                        | Sila Realty Trust, Inc.                                                     | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |     26762 | NS      | $633456.54    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                       | Permian Resources Corp.                                                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    186305 | NS      | $2537474.10   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc      | MACOM Technology Solutions Holdings, Inc.                                   | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14320 | NS      | $2051912.80   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                                | MaxLinear, Inc.                                                             | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    122770 | NS      | $1744561.70   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                            | Everest Group Ltd.                                                          | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      5550 | NS      | $1886167.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                           | Planet Fitness, Inc.                                                        | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     24321 | NS      | $2652205.05   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                 | Teradyne, Inc.                                                              | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      8722 | NS      | $784282.24    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                 | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   2298005 | NS      | $2298005.25   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                      | KBR, Inc.                                                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     29139 | NS      | $1396923.66   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                | First American Financial Corp.                                              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     10898 | NS      | $669028.22    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                                  | HubSpot, Inc.                                                               | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      1482 | NS      | $824925.66    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                   | Belden, Inc.                                                                | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      7255 | NS      | $840129.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| iRhythm Technologies Inc                     | iRhythm Technologies, Inc.                                                  | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |     13162 | NS      | $2026421.52   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc                     | Tandem Diabetes Care, Inc.                                                  | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     52207 | NS      | $973138.48    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                           | Cooper Cos., Inc.                                                           | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     28632 | NS      | $2037453.12   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc                    | Caesars Entertainment, Inc.                                                 | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     77871 | NS      | $2210757.69   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                    | Qorvo, Inc.                                                                 | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     22156 | NS      | $1881265.96   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc                     | Granite Construction, Inc.                                                  | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     35713 | NS      | $3339522.63   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL Holdings Inc                            | Bill Holdings, Inc.                                                         | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     23122 | NS      | $1069623.72   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Novocure Ltd                                 | Novocure Ltd.                                                               | CUSIP: 000000000<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |     28797 | NS      | $512586.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                          | Paycom Software, Inc.                                                       | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      8948 | NS      | $2070567.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                             | Hope Bancorp, Inc.                                                          | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     53296 | NS      | $571866.08    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ZoomInfo Technologies Inc                    | ZoomInfo Technologies, Inc.                                                 | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |    115697 | NS      | $1170853.64   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co                      | Modine Manufacturing Co.                                                    | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     20075 | NS      | $1977387.50   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                | Coherent Corp.                                                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     25758 | NS      | $2297871.18   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc/The                        | Carlyle Group, Inc.                                                         | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     40101 | NS      | $2061191.40   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                      | Wintrust Financial Corp.                                                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     14314 | NS      | $1774649.72   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                  | Inspire Medical Systems, Inc.                                               | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     12542 | NS      | $1627575.34   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                                   | MasTec, Inc.                                                                | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     11980 | NS      | $2041751.40   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories Inc                       | Dolby Laboratories, Inc.                                                    | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     11560 | NS      | $858445.60    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                     | United Therapeutics Corp.                                                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      4638 | NS      | $1332729.30   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                      | Darling Ingredients, Inc.                                                   | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     59603 | NS      | $2261337.82   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                       | Tyler Technologies, Inc.                                                    | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      1830 | NS      | $1084897.20   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp.                                                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      9708 | NS      | $3050059.44   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                         | Align Technology, Inc.                                                      | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      7146 | NS      | $1352952.18   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc                      | Viking Therapeutics, Inc.                                                   | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |     22013 | NS      | $583344.50    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Vertiv Holdings Co                           | Vertiv Holdings Co.                                                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     23089 | NS      | $2964858.49   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                     | Revolution Medicines, Inc.                                                  | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     18107 | NS      | $666156.53    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                           | Regal Rexnord Corp.                                                         | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     13098 | NS      | $1898686.08   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                        | AECOM                                                                       | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      9430 | NS      | $1064269.80   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings Inc                   | Grid Dynamics Holdings, Inc.                                                | CUSIP: 39813G109<br>LEI: 9845007E77EEC65AZE29 | Long             | EC               | CORP              | US        |    103524 | NS      | $1195702.20   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                  | Hubbell, Inc.                                                               | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      2905 | NS      | $1186431.05   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                             | W.R. Berkley Corp.                                                          | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     21596 | NS      | $1586658.12   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc                          | Quanta Services, Inc.                                                       | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      2700 | NS      | $1020816.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                     | Ultra Clean Holdings, Inc.                                                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     55277 | NS      | $1247601.89   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp                       | Universal Display Corp.                                                     | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9360 | NS      | $1445745.60   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                  | MongoDB, Inc.                                                               | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      8213 | NS      | $1724647.87   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS Inc                                      | GMS, Inc.                                                                   | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |     20810 | NS      | $2263087.50   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                                   | TransUnion                                                                  | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     15491 | NS      | $1363208.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc                        | TransMedics Group, Inc.                                                     | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      7551 | NS      | $1011909.51   | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Guidewire Software Inc                       | Guidewire Software, Inc.                                                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      6774 | NS      | $1594938.30   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp               | Silicon Motion Technology Corp.                                             | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |     12187 | NS      | $916096.79    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                                 | Sanmina Corp.                                                               | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     21040 | NS      | $2058343.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                          | Eagle Materials, Inc.                                                       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     15990 | NS      | $3231738.90   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs PBC                              | Planet Labs PBC                                                             | CUSIP: 72703X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    215332 | NS      | $1313525.20   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc                         | Amentum Holdings, Inc.                                                      | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |     62222 | NS      | $1469061.42   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                                  | Magnite, Inc.                                                               | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     85885 | NS      | $2071546.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc                         | Alaska Air Group, Inc.                                                      | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     41465 | NS      | $2051688.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings Inc            | Sun Country Airlines Holdings, Inc.                                         | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     80664 | NS      | $947802.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                      | ATI, Inc.                                                                   | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     67001 | NS      | $5784866.34   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                     | Lamb Weston Holdings, Inc.                                                  | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     17823 | NS      | $924122.55    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                                   | Kirby Corp.                                                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     16272 | NS      | $1845407.52   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                         | BWX Technologies, Inc.                                                      | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      8871 | NS      | $1277956.26   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                             | Markel Group, Inc.                                                          | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       794 | NS      | $1585903.84   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                  | Popular, Inc.                                                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     16593 | NS      | $1828714.53   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                     | ICON PLC                                                                    | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     10023 | NS      | $1457845.35   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI Homes Inc                                | LGI Homes, Inc.                                                             | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |     14535 | NS      | $748843.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Symbotic Inc                                 | Symbotic, Inc.                                                              | CUSIP: 87151X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67938 | NS      | $2639391.30   | 1.18%             |  |  |  | No            |                  1 | On Loan: —       |
| AeroVironment Inc                            | AeroVironment, Inc.                                                         | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      4573 | NS      | $1303076.35   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                     | Procore Technologies, Inc.                                                  | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     12533 | NS      | $857507.86    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc     | Knight-Swift Transportation Holdings, Inc.                                  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35248 | NS      | $1559019.04   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                                   | Mattel, Inc.                                                                | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     45524 | NS      | $897733.28    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc              | Pinnacle Financial Partners, Inc.                                           | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     20787 | NS      | $2295092.67   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                            | MP Materials Corp.                                                          | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     59187 | NS      | $1969151.49   | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Cognex Corp                                  | Cognex Corp.                                                                | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     22081 | NS      | $700409.32    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                     | Flex Ltd.                                                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     69909 | NS      | $3489857.28   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                         | Bridgebio Pharma, Inc.                                                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     25245 | NS      | $1090079.10   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                          | Curtiss-Wright Corp.                                                        | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      3591 | NS      | $1754383.05   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                               | DraftKings, Inc.                                                            | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     23011 | NS      | $986941.79    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                     | Fabrinet                                                                    | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      3912 | NS      | $1152788.16   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Integral Ad Science Holding Corp             | Integral Ad Science Holding Corp.                                           | CUSIP: 45828L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118047 | NS      | $980970.57    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp                      | Perdoceo Education Corp.                                                    | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     46443 | NS      | $1518221.67   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                     | Jazz Pharmaceuticals PLC                                                    | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      5687 | NS      | $603504.44    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                               | LCI Industries                                                              | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |      7047 | NS      | $642615.93    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Elastic NV                                   | Elastic NV                                                                  | CUSIP: 000000000<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | NL        |     10632 | NS      | $896596.56    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ACV Auctions Inc                             | ACV Auctions, Inc.                                                          | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105912 | NS      | $1717892.64   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc                       | TETRA Technologies, Inc.                                                    | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    185216 | NS      | $622325.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                            | Devon Energy Corp.                                                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     41635 | NS      | $1324409.35   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                                      | MKS, Inc.                                                                   | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     10908 | NS      | $1083818.88   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                 | Citizens Financial Group, Inc.                                              | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     33631 | NS      | $1504987.25   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                | Ultragenyx Pharmaceutical, Inc.                                             | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     11636 | NS      | $423084.96    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                        | Euronet Worldwide, Inc.                                                     | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     10036 | NS      | $1017449.68   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                   | Insmed, Inc.                                                                | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     19297 | NS      | $1942050.08   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                     | Acadia Healthcare Co., Inc.                                                 | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     22384 | NS      | $507892.96    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                                 | Vericel Corp.                                                               | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |     29204 | NS      | $1242630.20   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc                 | Monolithic Power Systems, Inc.                                              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      2971 | NS      | $2172929.98   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                   | Natera, Inc.                                                                | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11653 | NS      | $1968657.82   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                         | LXP Industrial Trust                                                        | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |     82858 | NS      | $684407.08    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTracker Inc                               | NEXTracker, Inc.                                                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20136 | NS      | $1094794.32   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                             | HealthEquity, Inc.                                                          | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     16130 | NS      | $1689778.80   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions Inc      | Kratos Defense & Security Solutions, Inc.                                   | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     28763 | NS      | $1336041.35   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                      | XPO, Inc.                                                                   | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     26693 | NS      | $3371058.97   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC                | Weatherford International PLC                                               | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     20160 | NS      | $1014249.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                  | Avantor, Inc.                                                               | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94041 | NS      | $1265791.86   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                           | Unity Software, Inc.                                                        | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |     28169 | NS      | $681689.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                                  | SiTime Corp.                                                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5185 | NS      | $1104819.80   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                       | CACI International, Inc.                                                    | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      2563 | NS      | $1221782.10   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc                      | FTAI Infrastructure, Inc.                                                   | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    143839 | NS      | $887486.63    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                        | Lantheus Holdings, Inc.                                                     | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     18841 | NS      | $1542324.26   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings Inc           | Cogent Communications Holdings, Inc.                                        | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23744 | NS      | $1144698.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                     | Builders FirstSource, Inc.                                                  | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     27673 | NS      | $3229162.37   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc                      | indie Semiconductor, Inc.                                                   | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    423114 | NS      | $1506285.84   | 0.67%             |  |  |  | No            |                  1 | On Loan: —       |
| STAG Industrial Inc                          | STAG Industrial, Inc.                                                       | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     32808 | NS      | $1190274.24   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc                           | Aspen Aerogels, Inc.                                                        | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73269 | NS      | $433752.48    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                  | Equifax, Inc.                                                               | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      7790 | NS      | $2020492.30   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                  | Hexcel Corp.                                                                | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     25797 | NS      | $1457272.53   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG Inc                                      | TPG, Inc.                                                                   | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     14503 | NS      | $760682.35    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     52425 | NS      | $6030972.00   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc                | Shoals Technologies Group, Inc.                                             | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    209813 | NS      | $891705.25    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                     | Elanco Animal Health, Inc.                                                  | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     64495 | NS      | $920988.60    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                         | Chart Industries, Inc.                                                      | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     10561 | NS      | $1738868.65   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                   | STERIS PLC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      2977 | NS      | $715134.94    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                   | Lattice Semiconductor Corp.                                                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     36526 | NS      | $1789408.74   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| KinderCare Learning Cos Inc                  | KinderCare Learning Cos., Inc.                                              | CUSIP: 49456W105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77665 | NS      | $784416.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MRC Global Inc                               | MRC Global, Inc.                                                            | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |    303300 | NS      | $4158243.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                      | DigitalBridge Group, Inc.                                                   | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     66545 | NS      | $688740.75    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Appian Corp                                  | Appian Corp.                                                                | CUSIP: 03782L101<br>LEI: 529900NIARIFW7HGU386 | Long             | EC               | CORP              | US        |     20771 | NS      | $620222.06    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** M FUND INC

**Signature:** Hannah Hasbrook

**Name of Signer:** Hannah Hasbrook

**Title:** M Fund Administration Manager