# EDGAR Filing Document

**Accession Number:** 0000948258
**File Stem:** 0001752724-23-035573
**Filing Date:** 2023-2
**Character Count:** 55915
**Document Hash:** 4049c266ef4cb8b0c1e0539e1a73ca1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-035573.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-035573

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** M FUND INC
- **CENTRAL INDEX KEY:** 0000948258
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09082
- **FILM NUMBER:** 23657353

**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:** 503-232-6960

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $189750007.71

**Total Liabilities:** $1716473.13

**Net Assets:** $188033534.58

**Cash Not Reported:** $2214053.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016960 | 10.77%               | 7.09%                | -6.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2193081.87              | $16249876.31                               |
| Month 2  | $263519.90               | $12996167.13                               |
| Month 3  | $2163342.27              | $-15090569.36                              |

### 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        |     18111 | NS      | $2260252.80   | 1.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Masonite International Corp                  | Masonite International Corp.                                                | CUSIP: 575385109<br>LEI: 549300H0H07ZFT4JYM32 | Long             | EC               | CORP              | CA        |     11707 | NS      | $943701.27    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| First BanCorp/Puerto Rico                    | First BanCorp                                                               | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    113825 | NS      | $1447854.00   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International, Inc.                              | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      4305 | NS      | $938059.50    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Independence Realty Trust Inc                | Independence Realty Trust, Inc.                                             | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |     33553 | NS      | $565703.58    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Victoria's Secret & Co                       | Victoria's Secret & Co.                                                     | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     16157 | NS      | $578097.46    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Jabil Inc                                    | Jabil, Inc.                                                                 | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     41243 | NS      | $2812772.60   | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Albemarle Corp                               | Albemarle Corp.                                                             | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |     10973 | NS      | $2379604.78   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Carpenter Technology Corp                    | Carpenter Technology Corp.                                                  | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     57761 | NS      | $2133691.34   | 1.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Upwork Inc                                   | Upwork, Inc.                                                                | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |     69008 | NS      | $720443.52    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Stoneridge Inc                               | Stoneridge, Inc.                                                            | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |     98539 | NS      | $2124500.84   | 1.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Rogers Corp                                  | Rogers Corp.                                                                | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |      9199 | NS      | $1097808.66   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Evercore Inc                                 | Evercore, Inc.                                                              | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      9899 | NS      | $1079782.92   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Okta Inc                                     | Okta, Inc.                                                                  | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      8205 | NS      | $560647.65    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| EnerSys                                      | EnerSys                                                                     | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     11610 | NS      | $857282.40    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Trex Co Inc                                  | Trex Co., Inc.                                                              | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38460 | NS      | $1628011.80   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Exact Sciences Corp                          | Exact Sciences Corp.                                                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     23427 | NS      | $1159870.77   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Workiva Inc                                  | Workiva, Inc.                                                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     13500 | NS      | $1133595.00   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Diversey Holdings Ltd                        | Diversey Holdings Ltd.                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    163691 | NS      | $697323.66    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| QIAGEN NV                                    | QIAGEN NV                                                                   | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |     19645 | NS      | $979696.15    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| RXO Inc                                      | RXO, Inc.                                                                   | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     28573 | NS      | $491455.60    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Pacira BioSciences Inc                       | Pacira BioSciences, Inc.                                                    | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27370 | NS      | $1056755.70   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Semtech Corp                                 | Semtech Corp.                                                               | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     37410 | NS      | $1073292.90   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Permian Resources Corp                       | Permian Resources Corp.                                                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    173590 | NS      | $1631746.00   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| LiveRamp Holdings Inc                        | LiveRamp Holdings, Inc.                                                     | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     27284 | NS      | $639536.96    | 0.34%             |  |  |  | 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        |     53754 | NS      | $3385426.92   | 1.80%             |  |  |  | No            | 1                  | On Loan: No      |
| MaxLinear Inc                                | MaxLinear, Inc.                                                             | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     32033 | NS      | $1087520.35   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Leslie's Inc                                 | Leslie's, Inc.                                                              | CUSIP: 527064109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96434 | NS      | $1177459.14   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Everest Re Group Ltd                         | Everest Re Group Ltd.                                                       | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      5062 | NS      | $1676888.74   | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Planet Fitness Inc                           | Planet Fitness, Inc.                                                        | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     30643 | NS      | $2414668.40   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| BioMarin Pharmaceutical Inc                  | BioMarin Pharmaceutical, Inc.                                               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     14725 | NS      | $1523890.25   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Global Advisors                 | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   1504669 | NS      | $1504669.25   | 0.80%             |  |  |  | No            | N/A                | On Loan: No      |
| KBR Inc                                      | KBR, Inc.                                                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     60437 | NS      | $3191073.60   | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| HubSpot Inc                                  | HubSpot, Inc.                                                               | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      2020 | NS      | $584042.60    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Merit Medical Systems Inc                    | Merit Medical Systems, Inc.                                                 | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      9371 | NS      | $661780.02    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Belden Inc                                   | Belden, Inc.                                                                | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      6660 | NS      | $478854.00    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Tandem Diabetes Care Inc                     | Tandem Diabetes Care, Inc.                                                  | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     16370 | NS      | $735831.50    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesars Entertainment Inc                    | Caesars Entertainment, Inc.                                                 | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     58214 | NS      | $2421702.40   | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Qorvo Inc                                    | Qorvo, Inc.                                                                 | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     19173 | NS      | $1737840.72   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Granite Construction Inc                     | Granite Construction, Inc.                                                  | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     44152 | NS      | $1548410.64   | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Supernus Pharmaceuticals Inc                 | Supernus Pharmaceuticals, Inc.                                              | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     42605 | NS      | $1519720.35   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Novocure Ltd                                 | Novocure Ltd.                                                               | CUSIP: 000000000<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |     15767 | NS      | $1156509.45   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| ZoomInfo Technologies Inc                    | ZoomInfo Technologies, Inc.                                                 | CUSIP: 98980F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19082 | NS      | $574559.02    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Modine Manufacturing Co                      | Modine Manufacturing Co.                                                    | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     91177 | NS      | $1810775.22   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                                | Coherent Corp.                                                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     38568 | NS      | $1353736.80   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| NuVasive Inc                                 | NuVasive, Inc.                                                              | CUSIP: 670704105<br>LEI: 549300C5ZB4NZ6TWM881 | Long             | EC               | CORP              | US        |     23959 | NS      | $988069.16    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlyle Group Inc/The                        | Carlyle Group, Inc.                                                         | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     38595 | NS      | $1151674.80   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Wintrust Financial Corp                      | Wintrust Financial Corp.                                                    | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     15339 | NS      | $1296452.28   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Cheesecake Factory Inc/The                   | Cheesecake Factory, Inc.                                                    | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |     50844 | NS      | $1612263.24   | 0.86%             |  |  |  | No            | 1                  | On Loan: —       |
| Raymond James Financial Inc                  | Raymond James Financial, Inc.                                               | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     18947 | NS      | $2024486.95   | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| MasTec Inc                                   | MasTec, Inc.                                                                | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     25242 | NS      | $2153899.86   | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Pactiv Evergreen Inc                         | Pactiv Evergreen, Inc.                                                      | CUSIP: 69526K105<br>LEI: 894500GNKGJRUSH1F791 | Long             | EC               | CORP              | US        |    101743 | NS      | $1155800.48   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| United Therapeutics Corp                     | United Therapeutics Corp.                                                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      4493 | NS      | $1249458.37   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| ACADIA Pharmaceuticals Inc                   | ACADIA Pharmaceuticals, Inc.                                                | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |     31162 | NS      | $496099.04    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Insulet Corp                                 | Insulet Corp.                                                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     11139 | NS      | $3279210.21   | 1.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Align Technology Inc                         | Align Technology, Inc.                                                      | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      4135 | NS      | $872071.50    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertiv Holdings Co                           | Vertiv Holdings Co.                                                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     69774 | NS      | $953112.84    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Array Technologies Inc                       | Array Technologies, Inc.                                                    | CUSIP: 04271T100<br>LEI: 549300JM5FECYJQ85V37 | Long             | EC               | CORP              | US        |    176085 | NS      | $3403723.05   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Amphastar Pharmaceuticals Inc                | Amphastar Pharmaceuticals, Inc.                                             | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     29226 | NS      | $818912.52    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| AECOM                                        | AECOM                                                                       | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     17086 | NS      | $1451113.98   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| BankUnited Inc                               | BankUnited, Inc.                                                            | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     19263 | NS      | $654364.11    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Ouster Inc                                   | Ouster, Inc.                                                                | CUSIP: 68989M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89309 | NS      | $77073.67     | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| AngioDynamics Inc                            | AngioDynamics, Inc.                                                         | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |     55515 | NS      | $764441.55    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| W R Berkley Corp                             | W R Berkley Corp.                                                           | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     27704 | NS      | $2010479.28   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Lands' End Inc                               | Lands' End, Inc.                                                            | CUSIP: 51509F105<br>LEI: 54930016WOL7P2P67Q43 | Long             | EC               | CORP              | US        |     43245 | NS      | $328229.55    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Quanta Services Inc                          | Quanta Services, Inc.                                                       | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     17440 | NS      | $2485200.00   | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Ultra Clean Holdings Inc                     | Ultra Clean Holdings, Inc.                                                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     16027 | NS      | $531295.05    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Bancorp Inc/The                              | Bancorp, Inc.                                                               | CUSIP: 05969A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100352 | NS      | $2847989.76   | 1.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Display Corp                       | Universal Display Corp.                                                     | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13799 | NS      | $1490843.96   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| TransUnion                                   | TransUnion                                                                  | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     13794 | NS      | $782809.50    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Paya Holdings Inc                            | Paya Holdings, Inc.                                                         | CUSIP: 70434P103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56964 | NS      | $448306.68    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| SM Energy Co                                 | SM Energy Co.                                                               | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     48362 | NS      | $1684448.46   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Eagle Materials Inc                          | Eagle Materials, Inc.                                                       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     18533 | NS      | $2462109.05   | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| 2U Inc                                       | 2U, Inc.                                                                    | CUSIP: 90214J101<br>LEI: 5493008RVTXVR43PYF84 | Long             | EC               | CORP              | US        |    103149 | NS      | $646744.23    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Beacon Roofing Supply Inc                    | Beacon Roofing Supply, Inc.                                                 | CUSIP: 073685109<br>LEI: 549300HDXQWWCBOYXP31 | Long             | EC               | CORP              | US        |     33348 | NS      | $1760440.92   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Magnite Inc                                  | Magnite, Inc.                                                               | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     36160 | NS      | $382934.40    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Alaska Air Group Inc                         | Alaska Air Group, Inc.                                                      | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     32953 | NS      | $1415001.82   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Radius Global Infrastructure Inc             | Radius Global Infrastructure, Inc.                                          | CUSIP: 750481103<br>LEI: 213800NT341MQ5USBX63 | Long             | EC               | CORP              | US        |    131693 | NS      | $1556611.26   | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| ATI Inc                                      | ATI, Inc.                                                                   | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |    100299 | NS      | $2994928.14   | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Incyte Corp                                  | Incyte Corp.                                                                | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     10835 | NS      | $870267.20    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Kirby Corp                                   | Kirby Corp.                                                                 | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     19179 | NS      | $1234168.65   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Paymentus Holdings Inc                       | Paymentus Holdings, Inc.                                                    | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108124 | NS      | $866073.24    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Popular Inc                                  | Popular, Inc.                                                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     21506 | NS      | $1426277.92   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Azul SA                                      | Azul SA                                                                     | CUSIP: 05501U106<br>LEI: 549300Z0MWZ57Q9RR205 | Long             | EC               | CORP              | BR        |    151762 | NS      | $927265.82    | 0.49%             |  |  |  | No            | 1                  | On Loan: —       |
| NMI Holdings Inc                             | NMI Holdings, Inc.                                                          | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     47367 | NS      | $989970.30    | 0.53%             |  |  |  | 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        |     35394 | NS      | $1854999.54   | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Green Dot Corp                               | Green Dot Corp.                                                             | CUSIP: 39304D102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37935 | NS      | $600131.70    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| SS&C Technologies Holdings Inc               | SS&C Technologies Holdings, Inc.                                            | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      9203 | NS      | $479108.18    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Mattel Inc                                   | Mattel, Inc.                                                                | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    112775 | NS      | $2011906.00   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| BorgWarner Inc                               | BorgWarner, Inc.                                                            | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     37698 | NS      | $1517344.50   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinnacle Financial Partners Inc              | Pinnacle Financial Partners, Inc.                                           | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     18467 | NS      | $1355477.80   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Flex Ltd                                     | Flex Ltd.                                                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |    107423 | NS      | $2305297.58   | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| SITE Centers Corp                            | SITE Centers Corp.                                                          | CUSIP: 82981J109<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               |  | US        |     62214 | NS      | $849843.24    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Fabrinet                                     | Fabrinet                                                                    | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     11876 | NS      | $1522740.72   | 0.81%             |  |  |  | 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        |    113579 | NS      | $998359.41    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Qualtrics International Inc                  | Qualtrics International, Inc.                                               | CUSIP: 747601201<br>LEI: 549300NW34K5PVZGTN68 | Long             | EC               | CORP              | US        |     60155 | NS      | $624408.90    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Zuora Inc                                    | Zuora, Inc.                                                                 | CUSIP: 98983V106<br>LEI: 549300ISVGC1YZWQJ420 | Long             | EC               | CORP              | US        |     83800 | NS      | $532968.00    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Ambarella Inc                                | Ambarella, Inc.                                                             | CUSIP: 000000000<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |      8286 | NS      | $681357.78    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Perdoceo Education Corp                      | Perdoceo Education Corp.                                                    | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |    146524 | NS      | $2036683.60   | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| WEX Inc                                      | WEX, Inc.                                                                   | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |      5805 | NS      | $949988.25    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Boyd Gaming Corp                             | Boyd Gaming Corp.                                                           | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     23813 | NS      | $1298522.89   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Stratasys Ltd                                | Stratasys Ltd.                                                              | CUSIP: 000000000<br>LEI: 529900MU215GIP9SZ741 | Long             | EC               | CORP              | IL        |     26971 | NS      | $319876.06    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Advance Auto Parts Inc                       | Advance Auto Parts, Inc.                                                    | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      5131 | NS      | $754410.93    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Controladora Vuela Cia de Aviacion SAB de CV | Controladora Vuela Cia de Aviacion SAB de CV                                | CUSIP: 21240E105<br>LEI: 549300G8NLCMP9Z44X52 | Long             | EC               | CORP              | MX        |    224310 | NS      | $1875231.60   | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LPL Financial Holdings Inc                   | LPL Financial Holdings, Inc.                                                | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      4594 | NS      | $993084.98    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Devon Energy Corp                            | Devon Energy Corp.                                                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     31643 | NS      | $1946360.93   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| MKS Instruments Inc                          | MKS Instruments, Inc.                                                       | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      6996 | NS      | $592771.08    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| NETSTREIT Corp                               | NETSTREIT Corp.                                                             | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |     34056 | NS      | $624246.48    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Wolfspeed Inc                                | Wolfspeed, Inc.                                                             | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |     37049 | NS      | $2557862.96   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Cardlytics Inc                               | Cardlytics, Inc.                                                            | CUSIP: 14161W105<br>LEI: 549300JETJBH94EIPC66 | Long             | EC               | CORP              | US        |     50338 | NS      | $290953.64    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Navigator Holdings Ltd                       | Navigator Holdings Ltd.                                                     | CUSIP: 000000000<br>LEI: 213800H7RVOFYARK2W19 | Long             | EC               | CORP              | MH        |    120842 | NS      | $1445270.32   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Envestnet Inc                                | Envestnet, Inc.                                                             | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Long             | EC               | CORP              | US        |     17027 | NS      | $1050565.90   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc                 | Monolithic Power Systems, Inc.                                              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      3846 | NS      | $1359984.06   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| CIRCOR International Inc                     | CIRCOR International, Inc.                                                  | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |     31980 | NS      | $766240.80    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Kratos Defense & Security Solutions Inc      | Kratos Defense & Security Solutions, Inc.                                   | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     75589 | NS      | $780078.48    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| XPO Inc                                      | XPO, Inc.                                                                   | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |     51635 | NS      | $1718929.15   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| SiTime Corp                                  | SiTime Corp.                                                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14007 | NS      | $1423391.34   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Cogent Communications Holdings Inc           | Cogent Communications Holdings, Inc.                                        | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17778 | NS      | $1014768.24   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Argo Group International Holdings Ltd        | Argo Group International Holdings Ltd.                                      | CUSIP: 000000000<br>LEI: 549300M4T8Y5TTWI6O03 | Long             | EC               | CORP              | BM        |     24309 | NS      | $628387.65    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Summit Materials Inc                         | Summit Materials, Inc.                                                      | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |     75654 | NS      | $2147806.07   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Interface Inc                                | Interface, Inc.                                                             | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |    109844 | NS      | $1084160.28   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Builders FirstSource Inc                     | Builders FirstSource, Inc.                                                  | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     65320 | NS      | $4237961.60   | 2.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Chewy Inc                                    | Chewy, Inc.                                                                 | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     30802 | NS      | $1142138.16   | 0.61%             |  |  |  | No            | 1                  | On Loan: —       |
| Signature Bank/New York NY                   | Signature Bank                                                              | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |     12624 | NS      | $1454537.28   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesarstone Ltd                              | Caesarstone Ltd.                                                            | CUSIP: 000000000<br>LEI: 254900MJ7IXAH75VFC61 | Long             | EC               | CORP              | IL        |     98014 | NS      | $559659.94    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| STAG Industrial Inc                          | STAG Industrial, Inc.                                                       | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     22318 | NS      | $721094.58    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| CommVault Systems Inc                        | CommVault Systems, Inc.                                                     | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     12356 | NS      | $776451.04    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Equifax Inc                                  | Equifax, Inc.                                                               | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      4493 | NS      | $873259.48    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Trupanion Inc                                | Trupanion, Inc.                                                             | CUSIP: 898202106<br>LEI: 549300J86GFKIDGMQP18 | Long             | EC               | CORP              | US        |     17579 | NS      | $835529.87    | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| TPG Inc                                      | TPG, Inc.                                                                   | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Long             | EC               | CORP              | US        |     22088 | NS      | $614709.04    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Livent Corp                                  | Livent Corp.                                                                | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               | CORP              | US        |     33746 | NS      | $670533.02    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     58504 | NS      | $1001588.48   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Triumph Group Inc                            | Triumph Group, Inc.                                                         | CUSIP: 896818101<br>LEI: 5493007L6S47Q14SL582 | Long             | EC               | CORP              | US        |     78721 | NS      | $828144.92    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Shoals Technologies Group Inc                | Shoals Technologies Group, Inc.                                             | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41683 | NS      | $1028319.61   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Sotera Health Co                             | Sotera Health Co.                                                           | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52687 | NS      | $438882.71    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Cooper Cos Inc/The                           | Cooper Cos., Inc.                                                           | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      7559 | NS      | $2499534.53   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Varex Imaging Corp                           | Varex Imaging Corp.                                                         | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               | CORP              | US        |     49957 | NS      | $1014127.10   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| MRC Global Inc                               | MRC Global, Inc.                                                            | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |    309695 | NS      | $3586268.10   | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Dana Inc                                     | Dana, Inc.                                                                  | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |    161124 | NS      | $2437806.12   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Hologic Inc                                  | Hologic, Inc.                                                               | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     15822 | NS      | $1183643.82   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Floor & Decor Holdings Inc                   | Floor & Decor Holdings, Inc.                                                | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     15343 | NS      | $1068333.09   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Genpact Ltd                                  | Genpact Ltd.                                                                | CUSIP: 000000000<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     29561 | NS      | $1369265.52   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-17

**Name of Applicant:** M FUND INC

**Signature:** Hannah Hasbrook

**Name of Signer:** Hannah Hasbrook

**Title:** M Fund Administration Manager