<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001047852</cik>
        <entityName>M FINANCIAL HOLDINGS INC</entityName>
        <issuerAddress>
            <street1>1125 NW COUCH STREET</street1>
            <street2>SUITE 900</street2>
            <city>PORTLAND</city>
            <stateOrCountry>OR</stateOrCountry>
            <stateOrCountryDescription>OREGON</stateOrCountryDescription>
            <zipCode>97209</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>503-232-6960</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <lastName>Kaplan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>300 Carnegie Center</street1>
                <street2>Suite 240</street2>
                <city>Princeton</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>08540</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Carl</firstName>
                <middleName>J</middleName>
                <lastName>Peterson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>29 South Main Street</street1>
                <street2>Suite 215</street2>
                <city>West Hartford</city>
                <stateOrCountry>CT</stateOrCountry>
                <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                <zipCode>06107</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <middleName>P</middleName>
                <lastName>Malarkey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>109 Pheasant Run</street1>
                <city>Newtown</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>18940</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeri</firstName>
                <middleName>L</middleName>
                <lastName>Turley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5800 Patterson Avenue</street1>
                <street2>Suite 101</street2>
                <city>Richmond</city>
                <stateOrCountry>VA</stateOrCountry>
                <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
                <zipCode>23226</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steve</firstName>
                <lastName>Lundin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1125 NW Couch Street</street1>
                <street2>Suite 900</street2>
                <city>Portland</city>
                <stateOrCountry>OR</stateOrCountry>
                <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                <zipCode>97209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <middleName>B</middleName>
                <lastName>Kukar</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1125 NW Couch Street</street1>
                <street2>Suite 900</street2>
                <city>Portland</city>
                <stateOrCountry>OR</stateOrCountry>
                <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                <zipCode>97209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>W</middleName>
                <lastName>Schutt</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1125 NW Couch Street</street1>
                <street2>Suite 900</street2>
                <city>Portland</city>
                <stateOrCountry>OR</stateOrCountry>
                <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                <zipCode>97209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>BRIDGET</firstName>
                <lastName>MCNAMARA-FENESY</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1125 NW Couch Street</street1>
                <street2>Suite 900</street2>
                <city>PORTLAND</city>
                <stateOrCountry>OR</stateOrCountry>
                <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                <zipCode>97209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kristin</firstName>
                <middleName>L</middleName>
                <lastName>Barens</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1421 Emerson Ave</street1>
                <city>Oxnard</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>93033</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>F</middleName>
                <lastName>Byers, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>850 Shades Creek Parkway</street1>
                <street2>Suite 300</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <stateOrCountryDescription>ALABAMA</stateOrCountryDescription>
                <zipCode>35209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Philip</firstName>
                <middleName>M</middleName>
                <lastName>de Bruyn</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5005 LBJ Freeway</street1>
                <street2>Suite 1313</street2>
                <city>Dallas</city>
                <stateOrCountry>TX</stateOrCountry>
                <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                <zipCode>75244</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brent</firstName>
                <middleName>M</middleName>
                <lastName>Eden</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2000 RiverEdge Parkway</street1>
                <street2>Suite 700</street2>
                <city>Atlanta</city>
                <stateOrCountry>GA</stateOrCountry>
                <stateOrCountryDescription>GEORGIA</stateOrCountryDescription>
                <zipCode>30328</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ronald</firstName>
                <middleName>J</middleName>
                <lastName>Greenberg</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>72 Eagle Rock Avenue</street1>
                <street2>Suite 302</street2>
                <city>East Hanover</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07936</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Terence</firstName>
                <middleName>L</middleName>
                <lastName>Horan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>8044 Montgomery Road</street1>
                <street2>Suite 640</street2>
                <city>Cincinnati</city>
                <stateOrCountry>OH</stateOrCountry>
                <stateOrCountryDescription>OHIO</stateOrCountryDescription>
                <zipCode>45236</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>R.</firstName>
                <middleName>Mark</middleName>
                <lastName>McCullough</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>7500 College Boulevard</street1>
                <street2>5th Floor</street2>
                <city>Overland Park</city>
                <stateOrCountry>KS</stateOrCountry>
                <stateOrCountryDescription>KANSAS</stateOrCountryDescription>
                <zipCode>66210</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>D</middleName>
                <lastName>Molewski</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>600 Hamilton Street</street1>
                <street2>#900</street2>
                <city>Allentown</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>18101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <middleName>M</middleName>
                <lastName>Williams</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>6735 Conroy Road</street1>
                <street2>Suite 218</street2>
                <city>Orlando</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>32835</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Russell</firstName>
                <middleName>G</middleName>
                <lastName>Bundschuh</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1125 NW Couch Street</street1>
                <street2>Suite 900</street2>
                <city>Portland</city>
                <stateOrCountry>OR</stateOrCountry>
                <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                <zipCode>97209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Insurance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2022-03-11</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>30000</totalOfferingAmount>
            <totalAmountSold>30000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>1</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>M FINANCIAL HOLDINGS INC</issuerName>
                <signatureName>/s/ David W. Schutt</signatureName>
                <nameOfSigner>David W. Schutt</nameOfSigner>
                <signatureTitle>Secretary</signatureTitle>
                <signatureDate>2022-03-15</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
