To do Alt + M R F on Mac in Excel, download and install Accelerator Keys, then press Option, followed by M, R, F.
Command: Recently Used - Insert Function
This is how to do Alt + M R F on Mac in Excel with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with Excel.
Alt + M R F opens the Insert Function dialog from the Recently Used functions menu. This provides full access to search and browse all Excel functions while showing your recently used functions at the top of the list.