# EDGAR Filing Document

**Accession Number:** 0000948258
**File Stem:** 0001410368-26-013177
**Filing Date:** 2026-2
**Character Count:** 55212
**Document Hash:** 57d2e84a76fd9648471953bf02642d58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-013177.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001410368-26-013177

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260218

**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:** 26646097

**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:** 2025-12-31

**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:** $242398021.72

**Total Liabilities:** $532809.05

**Net Assets:** $241865212.67

**Cash Not Reported:** $7897151.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016960 | 4.76%                | 1.48%                | 0.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6279810.05              | $4711469.30                                |
| Month 2  | $3998859.93              | $-480291.11                                |
| Month 3  | $2869205.35              | $-1125214.93                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAR Corp                                     | AAR Corp.                                                                   | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     10065 | NS      | $833281.35    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ACV Auctions Inc                             | ACV Auctions, Inc.                                                          | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132908 | NS      | $1065922.16   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                                    | AGCO Corp.                                                                  | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     11030 | NS      | $1150649.60   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                        | AECOM                                                                       | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      8850 | NS      | $843670.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc                            | AeroVironment, Inc.                                                         | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      6653 | NS      | $1609294.17   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc                      | Akamai Technologies, Inc.                                                   | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      8295 | NS      | $723738.75    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc                         | Alaska Air Group, Inc.                                                      | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     57287 | NS      | $2881536.10   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                               | Albemarle Corp.                                                             | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     11653 | NS      | $1648200.32   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                         | Align Technology, Inc.                                                      | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      8005 | NS      | $1249980.75   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                      | ATI, Inc.                                                                   | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     45610 | NS      | $5234203.60   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co                          | Allegiant Travel Co.                                                        | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |     13535 | NS      | $1154129.45   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc                         | Amentum Holdings, Inc.                                                      | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |     57757 | NS      | $1674953.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                              | Astera Labs, Inc.                                                           | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |      6622 | NS      | $1101635.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                  | Avantor, Inc.                                                               | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    161713 | NS      | $1853230.98   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings Inc             | BJ's Wholesale Club Holdings, Inc.                                          | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     17820 | NS      | $1604334.60   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                         | BWX Technologies, Inc.                                                      | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      5741 | NS      | $992274.44    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                                   | Belden, Inc.                                                                | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     11402 | NS      | $1328903.10   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                             | W.R. Berkley Corp.                                                          | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     20080 | NS      | $1408009.60   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Better Home & Finance Holding Co             | Better Home & Finance Holding Co.                                           | CUSIP: 08774B508<br>LEI: 529900VAMR5CW7WS5H57 | Long             | EC               | CORP              | US        |     17615 | NS      | $573896.70    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| BILL Holdings Inc                            | Bill Holdings, Inc.                                                         | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     21370 | NS      | $1165519.80   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                         | Bridgebio Pharma, Inc.                                                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     23543 | NS      | $1800804.07   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                     | Builders FirstSource, Inc.                                                  | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     28949 | NS      | $2978562.61   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc                       | CACI International, Inc.                                                    | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      2386 | NS      | $1271284.66   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc                    | Caesars Entertainment, Inc.                                                 | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     72412 | NS      | $1693716.68   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc/The                        | Carlyle Group, Inc.                                                         | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     24441 | NS      | $1444707.51   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp                    | Carpenter Technology Corp.                                                  | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     15147 | NS      | $4768881.48   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                        | Sila Realty Trust, Inc.                                                     | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |     37508 | NS      | $874311.48    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International, Inc.                              | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      6904 | NS      | $1377209.92   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc                    | Circle Internet Group, Inc.                                                 | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |     11040 | NS      | $875472.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                 | Citizens Financial Group, Inc.                                              | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     35017 | NS      | $2045342.97   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings Inc           | Cogent Communications Holdings, Inc.                                        | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47869 | NS      | $1032055.64   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                                  | Cognex Corp.                                                                | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     40165 | NS      | $1445136.70   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                | Coherent Corp.                                                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     22398 | NS      | $4133998.86   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                           | Cooper Cos., Inc.                                                           | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     38843 | NS      | $3183572.28   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                          | Curtiss-Wright Corp.                                                        | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      3336 | NS      | $1839036.72   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                      | Darling Ingredients, Inc.                                                   | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     70616 | NS      | $2542176.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                            | Devon Energy Corp.                                                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     38646 | NS      | $1415602.98   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories Inc                       | Dolby Laboratories, Inc.                                                    | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     15013 | NS      | $964134.86    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                               | DraftKings, Inc.                                                            | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     42057 | NS      | $1449284.22   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                          | Eagle Materials, Inc.                                                       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     15591 | NS      | $3222347.88   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                       | Eastern Bankshares, Inc.                                                    | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |     68395 | NS      | $1260519.85   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                     | Elanco Animal Health, Inc.                                                  | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     87552 | NS      | $1981301.76   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                                 | Entegris, Inc.                                                              | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     19119 | NS      | $1610775.75   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc                             | EPAM Systems, Inc.                                                          | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     11611 | NS      | $2378861.68   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                  | Equifax, Inc.                                                               | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      7613 | NS      | $1651868.74   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                | First American Financial Corp.                                              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     16209 | NS      | $995880.96    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico                    | First BanCorp                                                               | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     87439 | NS      | $1812610.47   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc                      | FTAI Infrastructure, Inc.                                                   | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    252036 | NS      | $1161885.96   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Gentherm Inc                                 | Gentherm, Inc.                                                              | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |     16193 | NS      | $588939.41    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc                     | Granite Construction, Inc.                                                  | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     33260 | NS      | $3836541.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Grid Dynamics Holdings Inc                   | Grid Dynamics Holdings, Inc.                                                | CUSIP: 39813G109<br>LEI: 9845007E77EEC65AZE29 | Long             | EC               | CORP              | US        |    162142 | NS      | $1464142.26   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                       | Guidewire Software, Inc.                                                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      9268 | NS      | $1862960.68   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                             | HealthEquity, Inc.                                                          | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     17665 | NS      | $1618290.65   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                  | Hexcel Corp.                                                                | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     31775 | NS      | $2348172.50   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                             | Hope Bancorp, Inc.                                                          | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     49681 | NS      | $544503.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                  | Hubbell, Inc.                                                               | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      3601 | NS      | $1599240.11   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| iRhythm Technologies Inc                     | iRhythm Technologies, Inc.                                                  | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |      9829 | NS      | $1744057.76   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc                | Independence Realty Trust, Inc.                                             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |     51340 | NS      | $897423.20    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc                      | indie Semiconductor, Inc.                                                   | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    628113 | NS      | $2217238.89   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                   | Insmed, Inc.                                                                | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     14735 | NS      | $2564479.40   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                  | Inspire Medical Systems, Inc.                                               | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     19650 | NS      | $1812319.50   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp.                                                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      8950 | NS      | $2543948.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                                     | IonQ, Inc.                                                                  | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |      9710 | NS      | $435687.70    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Jabil Inc                                    | Jabil, Inc.                                                                 | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     14468 | NS      | $3298993.36   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                      | KBR, Inc.                                                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     35589 | NS      | $1430677.80   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| KinderCare Learning Cos Inc                  | KinderCare Learning Cos., Inc.                                              | CUSIP: 49456W105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144199 | NS      | $622939.68    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                                   | Kirby Corp.                                                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     18388 | NS      | $2025989.84   | 0.84%             |  |  |  | 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        |     49159 | NS      | $2570032.52   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions Inc      | Kratos Defense & Security Solutions, Inc.                                   | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     12717 | NS      | $965347.47    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                               | LCI Industries                                                              | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |     12722 | NS      | $1543687.48   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                     | Lamb Weston Holdings, Inc.                                                  | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     25580 | NS      | $1071546.20   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                   | Lattice Semiconductor Corp.                                                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     35395 | NS      | $2604364.10   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc                           | Liberty Energy, Inc.                                                        | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25038 | NS      | $462201.48    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                                | M/I Homes, Inc.                                                             | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     12065 | NS      | $1543716.75   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                                      | MKS, Inc.                                                                   | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     10151 | NS      | $1622129.80   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                            | MP Materials Corp.                                                          | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     18312 | NS      | $925122.24    | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| MACOM Technology Solutions Holdings Inc      | MACOM Technology Solutions Holdings, Inc.                                   | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11161 | NS      | $1911656.08   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                                  | Magnite, Inc.                                                               | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     66022 | NS      | $1071537.06   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                             | Markel Group, Inc.                                                          | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       737 | NS      | $1584292.05   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                                | MaxLinear, Inc.                                                             | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    113369 | NS      | $1976021.67   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co                      | Modine Manufacturing Co.                                                    | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     13166 | NS      | $1757792.66   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                  | MongoDB, Inc.                                                               | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      6861 | NS      | $2879493.09   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc                 | Monolithic Power Systems, Inc.                                              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      2760 | NS      | $2501553.60   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                       | Mueller Industries, Inc.                                                    | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |      6942 | NS      | $796941.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                   | Natera, Inc.                                                                | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |     10850 | NS      | $2485626.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                                | Nextpower, Inc.                                                             | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15775 | NS      | $1374160.25   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                                     | Okta, Inc.                                                                  | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     13015 | NS      | $1125407.05   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                                 | Parsons Corp.                                                               | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     11332 | NS      | $700317.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                          | Paycom Software, Inc.                                                       | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      9527 | NS      | $1518222.72   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp                      | Perdoceo Education Corp.                                                    | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     43047 | NS      | $1262568.51   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners                    | Perella Weinberg Partners                                                   | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23874 | NS      | $413020.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                  | Revvity, Inc.                                                               | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     17807 | NS      | $1722827.25   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                       | Permian Resources Corp.                                                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    172931 | NS      | $2426221.93   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                           | Planet Fitness, Inc.                                                        | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     22655 | NS      | $2457387.85   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs PBC                              | Planet Labs PBC                                                             | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               | CORP              | US        |     38328 | NS      | $755828.16    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                  | Popular, Inc.                                                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     16974 | NS      | $2113602.48   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                     | Procore Technologies, Inc.                                                  | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     23705 | NS      | $1724301.70   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                             | Pure Storage, Inc.                                                          | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     34899 | NS      | $2338581.99   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                    | Qorvo, Inc.                                                                 | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     20557 | NS      | $1737272.07   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                      | RXO, Inc.                                                                   | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     79803 | NS      | $1008709.92   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                           | Regal Rexnord Corp.                                                         | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     12154 | NS      | $1705449.28   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                     | Revolution Medicines, Inc.                                                  | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     16866 | NS      | $1343376.90   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp                              | Rocket Lab Corp.                                                            | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16610 | NS      | $1158713.60   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                  | Rogers Corp.                                                                | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     10014 | NS      | $916981.98    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                     | Saia, Inc.                                                                  | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      5360 | NS      | $1750147.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                                 | Sanmina Corp.                                                               | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     11516 | NS      | $1728206.12   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp of Florida             | Seacoast Banking Corp. of Florida                                           | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |     41274 | NS      | $1296829.08   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc                | Selective Insurance Group, Inc.                                             | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     13808 | NS      | $1155315.36   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                                  | SiTime Corp.                                                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3468 | NS      | $1224862.92   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc                           | Champion Homes, Inc.                                                        | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12741 | NS      | $1076614.50   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc                      | Soleno Therapeutics, Inc.                                                   | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |     12911 | NS      | $597779.30    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                          | STAG Industrial, Inc.                                                       | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     36331 | NS      | $1335527.56   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings Inc            | Sun Country Airlines Holdings, Inc.                                         | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     83857 | NS      | $1206702.23   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc                     | Tandem Diabetes Care, Inc.                                                  | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     57057 | NS      | $1254112.86   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                 | Teradyne, Inc.                                                              | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     12574 | NS      | $2433823.44   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc                       | TETRA Technologies, Inc.                                                    | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    129692 | NS      | $1215214.04   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc                        | TransMedics Group, Inc.                                                     | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     12263 | NS      | $1491793.95   | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| TransUnion                                   | TransUnion                                                                  | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     16758 | NS      | $1436998.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc                        | Triumph Financial, Inc.                                                     | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |     14234 | NS      | $891475.42    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                       | Tyler Technologies, Inc.                                                    | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      2867 | NS      | $1301474.65   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                     | Ultra Clean Holdings, Inc.                                                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     69684 | NS      | $1765095.72   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                | Ultragenyx Pharmaceutical, Inc.                                             | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     37437 | NS      | $861051.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                     | United Therapeutics Corp.                                                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3228 | NS      | $1572843.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                           | Unity Software, Inc.                                                        | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |     26228 | NS      | $1158490.76   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp                       | Universal Display Corp.                                                     | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13210 | NS      | $1542663.80   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                                 | Vericel Corp.                                                               | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |     33131 | NS      | $1193047.31   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Voyager Technologies Inc                     | Voyager Technologies, Inc.                                                  | CUSIP: 92892B103<br>LEI: 254900DDCLSP240FE187 | Long             | EC               | CORP              | US        |     27301 | NS      | $713648.14    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                      | Wintrust Financial Corp.                                                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     15562 | NS      | $2175878.84   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                      | XPO, Inc.                                                                   | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     26946 | NS      | $3662230.86   | 1.51%             |  |  |  | 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        |    275096 | NS      | $275096.25    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                            | Everest Group Ltd.                                                          | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      5127 | NS      | $1739847.45   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     46954 | NS      | $9242894.90   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd                            | Genius Sports Ltd.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     57140 | NS      | $629682.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                  | James Hardie Industries PLC                                                 | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |     70854 | NS      | $1470220.50   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                     | ICON PLC                                                                    | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      9844 | NS      | $1793773.68   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC                | Weatherford International PLC                                               | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     31001 | NS      | $2426138.26   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                     | Jazz Pharmaceuticals PLC                                                    | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      7868 | NS      | $1337560.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                   | STERIS PLC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      3899 | NS      | $988474.48    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| UroGen Pharma Ltd                            | UroGen Pharma Ltd.                                                          | CUSIP: 000000000<br>LEI: 549300C0YCX7CG2G5D50 | Long             | EC               | CORP              | IL        |     28466 | NS      | $666673.72    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                     | Flex Ltd.                                                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     49052 | NS      | $2963721.84   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-15

**Name of Applicant:** M FUND INC

**Signature:** Hannah Hasbrook

**Name of Signer:** Hannah Hasbrook

**Title:** M Fund Administration Manager