NPORT-EX 2 tstjunepartf033124.htm PART F
Portfolio of Investments
Touchstone Balanced Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 62.3%  
  Information Technology — 17.0%  
    211,474 Apple, Inc. $ 36,263,562
     45,789 International Business Machines Corp.   8,743,867
    132,986 Microsoft Corp.  55,949,870
    111,072 Oracle Corp.  13,951,754
     50,655 Salesforce, Inc.  15,256,273
     38,649 Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR   5,258,197
     59,302 Texas Instruments, Inc.  10,331,001
     32,460 Workday, Inc. - Class A*   8,853,465
        154,607,989
  Health Care — 9.9%  
     26,778 Becton Dickinson & Co.   6,626,216
     98,089 BioMarin Pharmaceutical, Inc.*   8,567,093
    149,065 Bristol-Myers Squibb Co.   8,083,795
     40,761 Cencora, Inc.   9,904,515
     45,085 HCA Healthcare, Inc.  15,037,200
     93,696 Johnson & Johnson  14,821,770
    133,584 Medtronic PLC  11,641,846
     32,291 UnitedHealth Group, Inc.  15,974,358
         90,656,793
  Communication Services — 9.5%  
    203,278 Alphabet, Inc. - Class C*  30,951,108
    196,354 Comcast Corp. - Class A   8,511,946
     72,764 Meta Platforms, Inc. - Class A  35,332,743
     10,920 Netflix, Inc.*   6,632,044
     42,324 Walt Disney Co. (The)   5,178,765
         86,606,606
  Financials — 8.8%  
    226,643 Bank of America Corp.   8,594,303
     61,936 Berkshire Hathaway, Inc. - Class B*  26,045,327
     84,060 Charles Schwab Corp. (The)   6,080,900
     35,137 Goldman Sachs Group, Inc. (The)  14,676,373
      6,506 Markel Group, Inc.*   9,898,749
     53,602 Visa, Inc. - Class A  14,959,246
         80,254,898
  Consumer Discretionary — 5.6%  
     42,643 Airbnb, Inc. - Class A*   7,034,389
     35,184 Alibaba Group Holding Ltd. (China) ADR   2,545,914
    168,092 Amazon.com, Inc.*  30,320,435
     24,733 Hilton Worldwide Holdings, Inc.   5,275,796
     64,894 Starbucks Corp.   5,930,663
         51,107,197
  Industrials — 5.1%  
     40,718 Boeing Co. (The)*   7,858,167
     17,118 FedEx Corp.   4,959,769
     16,875 Hubbell, Inc.   7,003,969
     96,838 RTX Corp.   9,444,610
    162,613 Southwest Airlines Co.   4,746,673
    105,250 SS&C Technologies Holdings, Inc.   6,774,943
     57,875 Stanley Black & Decker, Inc.   5,667,699
         46,455,830
  Consumer Staples — 2.3%  
    182,961 Monster Beverage Corp.*  10,845,928
    107,686 Philip Morris International, Inc.   9,866,191
         20,712,119
Shares       Market
Value
     
  Energy — 1.9%  
    110,577 Exxon Mobil Corp. $ 12,853,470
     83,496 Schlumberger NV   4,576,416
         17,429,886
  Materials — 1.5%  
    107,398 DuPont de Nemours, Inc.   8,234,205
     65,020 International Flavors & Fragrances, Inc.   5,591,070
         13,825,275
  Real Estate — 0.7%  
     31,755 Jones Lang LaSalle, Inc.*   6,195,083
  Total Common Stocks $567,851,676
Principal
Amount
       
  U.S. Treasury Obligations — 12.6%
$  5,794,000 U.S. Treasury Bond, 4.000%, 11/15/52       5,457,450
   1,380,000 U.S. Treasury Bond, 4.125%, 8/15/53       1,328,681
  14,680,000 U.S. Treasury Bond, 4.750%, 11/15/43      15,251,144
   7,700,635 U.S. Treasury Inflation Indexed Bond, 1.750%, 1/15/34       7,613,880
   3,778,537 U.S. Treasury Inflation Indexed Bond, 2.125%, 2/15/54       3,829,817
  10,914,000 U.S. Treasury Note, 3.625%, 5/31/28      10,642,855
  24,000,000 U.S. Treasury Note, 4.000%, 1/31/29      23,765,625
  11,945,000 U.S. Treasury Note, 4.000%, 2/15/34      11,758,359
   3,500,000 U.S. Treasury Note, 4.250%, 1/31/26       3,473,066
  29,225,000 U.S. Treasury Note, 4.375%, 11/30/28      29,395,099
  2,810,000 U.S. Treasury Note, 4.625%, 2/28/26       2,808,354
  Total U.S. Treasury Obligations $115,324,330
  Corporate Bonds — 12.5%  
  Financials — 3.4%  
   1,326,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 2.450%, 10/29/26   1,231,026
   1,300,000 American Express Co., 5.282%, 7/27/29   1,307,985
   1,219,000 American Tower Corp. REIT, 5.900%, 11/15/33   1,263,240
   1,110,000 Ares Capital Corp., 3.250%, 7/15/25   1,072,428
     802,000 Bank of America Corp., 2.687%, 4/22/32     680,271
     815,000 Bank of America Corp., 3.705%, 4/24/28     780,171
     932,000 Bank of Montreal (Canada), 3.803%, 12/15/32     869,405
   1,020,000 Bank of New York Mellon Corp. (The), 5.834%, 10/25/33   1,065,841
   1,009,000 Bank of Nova Scotia (The) (Canada), 3.625%, 10/27/81     803,838
   1,225,000 Barclays PLC (United Kingdom), 2.894%, 11/24/32   1,018,188
     690,000 Berkshire Hathaway Finance Corp., 4.250%, 1/15/49     617,434
     765,000 Citigroup, Inc., 3.200%, 10/21/26     728,621
     645,000 Citigroup, Inc., 6.174%, 5/25/34     654,261
   1,044,000 Citizens Bank NA, 4.575%, 8/9/28     999,574
   1,052,000 Cooperatieve Rabobank UA (Netherlands), 144a, 1.106%, 2/24/27     968,860
   1,255,000 Corestates Capital III, 144a, (TSFR3M + 0.832%), 6.139%, 2/15/27(A)   1,233,429
   1,213,000 Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32   1,017,771
     674,000 Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28     645,090
   1,276,000 JPMorgan Chase & Co., 2.956%, 5/13/31   1,114,663
   1,000,000 JPMorgan Chase & Co., 3.509%, 1/23/29     946,072
     879,000 Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29     892,774
   1,250,000 Mastercard, Inc., 2.000%, 11/18/31   1,032,354
   1,086,000 Morgan Stanley, 3.950%, 4/23/27   1,048,537
     839,000 Morgan Stanley, 5.297%, 4/20/37     805,244
     948,000 New York Life Global Funding, 144a, 4.550%, 1/28/33      915,669
 
1

Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount
      MarketValue
  Corporate Bonds — 12.5% (Continued)  
  Financials — 3.4% (Continued)  
$    990,000 Northern Trust Corp., 6.125%, 11/2/32 $  1,046,507
   1,220,708 Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47     957,278
   1,171,000 PNC Capital Trust, (TSFR3M + 0.832%), 6.173%, 6/1/28(A)   1,116,257
   1,105,000 Royal Bank of Canada (Canada), MTN, 5.200%, 8/1/28   1,116,113
   1,844,000 Truist Bank, Ser A, (TSFR3M + 0.932%), 6.239%, 5/15/27(A)   1,752,722
     728,000 UBS Group AG (Switzerland), 144a, 5.699%, 2/8/35     732,495
    807,000 US Bancorp, 4.967%, 7/22/33     763,464
         31,197,582
  Consumer Discretionary — 1.4%  
   1,795,000 7-Eleven, Inc., 144a, 1.800%, 2/10/31   1,442,541
      71,805 Air Canada 2015-1 Class A Pass Through Trust (Canada), 144a, 3.600%, 3/15/27      68,068
   1,099,000 BAT Capital Corp. (United Kingdom), 3.557%, 8/15/27   1,040,747
     782,000 Brunswick Corp., 4.400%, 9/15/32     711,925
   1,461,000 General Motors Financial Co., Inc., 3.100%, 1/12/32   1,238,421
     555,000 General Motors Financial Co., Inc., 5.650%, 1/17/29     561,006
     605,000 Home Depot, Inc. (The), 5.950%, 4/1/41     651,771
     999,000 Hyundai Capital America, 144a, 5.350%, 3/19/29   1,002,214
     754,000 Imperial Brands Finance PLC (United Kingdom), 144a, 6.125%, 7/27/27     769,560
   1,130,000 Lowe's Cos., Inc., 4.500%, 4/15/30   1,105,866
     715,000 Mattel, Inc., 5.450%, 11/1/41     662,092
   1,199,000 Meritage Homes Corp., 144a, 3.875%, 4/15/29   1,102,139
   1,174,000 Toll Brothers Finance Corp., 3.800%, 11/1/29   1,095,229
     680,000 Toyota Motor Credit Corp., MTN, 4.650%, 1/5/29     675,666
  1,263,000 Warnermedia Holdings, Inc., 5.141%, 3/15/52   1,048,862
         13,176,107
  Industrials — 1.2%  
   1,251,000 Amcor Flexibles North America, Inc., 2.630%, 6/19/30   1,078,013
     983,000 Burlington Northern Santa Fe LLC, 5.750%, 5/1/40   1,039,291
     646,000 Carrier Global Corp., 3.577%, 4/5/50     481,384
     934,000 FedEx Corp., 5.100%, 1/15/44     878,774
     808,000 Norfolk Southern Corp., 4.837%, 10/1/41     761,854
     685,000 Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27     685,753
   1,212,000 Textron Financial Corp., 144a, (TSFR3M + 1.997%), 7.304%, 2/15/42(A)   1,054,722
     888,000 Timken Co. (The), 4.500%, 12/15/28     870,745
   1,303,000 Waste Management, Inc., 4.875%, 2/15/34   1,293,974
   1,846,000 Weir Group PLC (The) (United Kingdom), 144a, 2.200%, 5/13/26   1,713,967
    676,000 WestRock MWV LLC, 8.200%, 1/15/30     772,217
         10,630,694
  Health Care — 1.1%  
     832,000 AbbVie, Inc., 4.450%, 5/14/46     747,252
     917,000 Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49     714,906
   1,068,000 Amgen, Inc., 5.150%, 3/2/28   1,075,391
     700,000 Becton Dickinson & Co., 4.685%, 12/15/44     634,387
     857,000 CommonSpirit Health, 4.187%, 10/1/49     713,652
     782,000 CVS Health Corp., 5.125%, 7/20/45     721,374
   1,036,000 DH Europe Finance II Sarl, 3.250%, 11/15/39     837,683
     942,000 Elevance Health, Inc., 4.750%, 2/15/33     919,126
   1,066,000 HCA, Inc., 5.375%, 9/1/26   1,066,001
     832,000 Thermo Fisher Scientific, Inc., 5.404%, 8/10/43      851,724
Principal
Amount
      MarketValue
     
  Health Care — 1.1% (Continued)  
$  1,062,000 UnitedHealth Group, Inc., 3.500%, 8/15/39 $    876,021
  1,081,000 Viatris, Inc., 2.700%, 6/22/30     917,043
         10,074,560
  Utilities — 1.0%  
   1,537,000 CMS Energy Corp., 4.750%, 6/1/50   1,415,041
     738,000 Duke Energy Progress LLC, 4.150%, 12/1/44     612,604
     719,000 Edison International, 4.125%, 3/15/28     689,197
   1,350,000 Electricite de France SA (France), 144a, 4.875%, 9/21/38   1,209,384
   1,273,000 FirstEnergy Transmission LLC, 144a, 5.450%, 7/15/44   1,210,944
     269,000 NextEra Energy Capital Holdings, Inc., (TSFR3M + 2.329%), 7.631%, 10/1/66(A)     255,839
   1,135,000 Ohio Power Co., Ser R, 2.900%, 10/1/51     730,357
   1,250,000 Pacific Gas and Electric Co., 3.500%, 8/1/50     856,720
     887,000 PacifiCorp., 5.750%, 4/1/37     901,678
  1,318,000 WEC Energy Group, Inc., (TSFR3M + 2.374%), 7.681%, 5/15/67(A)   1,278,453
          9,160,217
  Consumer Staples — 1.0%  
     725,000 Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46     687,634
     264,000 Archer-Daniels-Midland Co., 5.375%, 9/15/35     270,245
     415,000 Archer-Daniels-Midland Co., 5.935%, 10/1/32     439,863
     995,000 Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28     935,151
     646,000 J M Smucker Co. (The), 6.500%, 11/15/53     717,614
     398,000 JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 4.375%, 2/2/52     288,829
     635,000 Kroger Co. (The), 5.000%, 4/15/42     598,211
     960,000 Mars, Inc., 144a, 3.875%, 4/1/39     832,220
   1,974,000 Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31   1,576,248
   1,349,000 Philip Morris International, Inc., 5.375%, 2/15/33   1,360,329
     650,000 Starbucks Corp., 3.350%, 3/12/50     464,285
    815,000 Tyson Foods, Inc., 5.400%, 3/15/29     822,205
          8,992,834
  Energy — 0.9%  
   1,126,000 Cheniere Energy Partners LP, 3.250%, 1/31/32     959,449
     355,000 Cheniere Energy Partners LP, 4.000%, 3/1/31     322,373
   1,063,000 DCP Midstream Operating LP, 144a, 6.750%, 9/15/37   1,155,048
     884,000 HF Sinclair Corp., 144a, 5.000%, 2/1/28     858,820
     590,417 MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31     535,077
   1,161,000 Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29   1,121,436
   1,244,000 NGPL PipeCo LLC, 144a, 7.768%, 12/15/37   1,387,461
   1,046,000 Occidental Petroleum Corp., 7.950%, 6/15/39   1,226,720
    977,000 Western Midstream Operating LP, 5.250%, 2/1/50     873,285
          8,439,669
  Information Technology — 0.9%  
   1,424,000 Apple, Inc., 4.650%, 2/23/46   1,370,237
   1,407,000 Broadcom, Inc., 4.150%, 11/15/30   1,331,494
   1,708,000 Cisco Systems, Inc., 4.850%, 2/26/29   1,721,430
   1,289,000 Marvell Technology, Inc., 2.950%, 4/15/31   1,112,699
     671,000 Micron Technology, Inc., 2.703%, 4/15/32     560,648
     277,000 Micron Technology, Inc., 6.750%, 11/1/29     297,467
   1,742,000 Microsoft Corp., 2.525%, 6/1/50   1,143,114
     393,000 Oracle Corp., 3.600%, 4/1/40     310,002
    313,000 Oracle Corp., 4.300%, 7/8/34     288,879
          8,135,970
 
2

Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount
      MarketValue
  Corporate Bonds — 12.5% (Continued)  
  Communication Services — 0.7%  
$    535,000 AT&T, Inc., 4.500%, 5/15/35 $    500,374
     711,000 Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45     659,677
     500,000 Charter Communications Operating LLC / Charter Communications Operating Capital, 6.650%, 2/1/34     513,165
     796,000 Comcast Corp., 4.000%, 3/1/48     646,780
     386,000 Paramount Global, 4.200%, 5/19/32     320,987
   1,357,000 Rogers Communications, Inc. (Canada), 5.300%, 2/15/34   1,346,157
   1,178,000 T-Mobile USA, Inc., 3.875%, 4/15/30   1,103,313
     566,000 T-Mobile USA, Inc., 5.750%, 1/15/54     587,161
  1,103,000 Verizon Communications, Inc., 2.987%, 10/30/56     706,614
          6,384,228
  Real Estate — 0.6%  
     992,000 Crown Castle International Corp. REIT, 3.650%, 9/1/27     940,691
   1,105,000 Host Hotels & Resorts LP REIT, Ser F, 4.500%, 2/1/26   1,082,303
   1,206,000 Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32   1,104,283
     735,000 Sabra Health Care LP REIT, 5.125%, 8/15/26     727,455
     446,000 Store Capital LLC REIT, 2.700%, 12/1/31     351,059
     274,000 Store Capital LLC REIT, 2.750%, 11/18/30     220,306
    623,000 Store Capital LLC REIT, 4.625%, 3/15/29     586,435
          5,012,532
  Materials — 0.3%  
     531,000 Braskem America Finance Co. (Brazil), 144a, 7.125%, 7/22/41     477,328
   1,074,000 Celanese US Holdings LLC, 6.165%, 7/15/27   1,094,170
    846,000 Sherwin-Williams Co. (The), 4.500%, 6/1/47     740,097
          2,311,595
  Total Corporate Bonds $113,515,988
  U.S. Government Mortgage-Backed Obligations — 3.6%
       1,116 FHLMC, Pool #G08062, 5.000%, 6/1/35           1,124
     111,298 FHLMC, Pool #G08637, 4.000%, 4/1/45         105,661
     689,519 FHLMC, Pool #Q02664, 4.500%, 8/1/41         677,682
   1,187,120 FHLMC, Pool #Q29056, 4.000%, 10/1/44       1,127,124
     570,078 FHLMC, Pool #Q29260, 4.000%, 10/1/44         541,343
   2,053,122 FHLMC REMIC, Pool #RA7784, 4.500%, 8/1/52       1,957,651
   1,585,599 FHLMC REMIC, Pool #SB0855, 3.000%, 7/1/37       1,479,324
   2,209,152 FHLMC REMIC, Pool #SD4499, 3.500%, 5/1/52       1,985,050
   1,369,357 FHLMC REMIC, Pool #SD8148, 3.000%, 5/1/51       1,185,428
     230,060 FNMA, Pool #725423, 5.500%, 5/1/34         234,991
     203,931 FNMA, Pool #725610, 5.500%, 7/1/34         208,304
      43,464 FNMA, Pool #748895, 6.000%, 12/1/33          43,124
      87,698 FNMA, Pool #AD9193, 5.000%, 9/1/40          87,582
     226,500 FNMA, Pool #AH8925, 4.500%, 3/1/41         222,334
     263,589 FNMA, Pool #AR9195, 3.000%, 3/1/43         235,602
     422,623 FNMA, Pool #BC1809, 3.500%, 5/1/46         385,790
   1,679,019 FNMA, Pool #BT7156, 2.000%, 8/1/51       1,335,607
   1,815,279 FNMA, Pool #CB1336, 2.000%, 8/1/41       1,530,445
   2,384,996 FNMA, Pool #CB2643, 2.500%, 1/1/52       1,979,308
   1,698,208 FNMA, Pool #FM5085, 2.000%, 12/1/50       1,360,640
     534,393 FNMA, Pool #FM5166, 3.000%, 12/1/50         465,069
     454,582 FNMA, Pool #FM5279, 3.500%, 11/1/50         412,968
     350,402 FNMA, Pool #FM5468, 2.500%, 1/1/36         321,464
     522,649 FNMA, Pool #FM5682, 2.500%, 1/1/51         435,890
   1,383,562 FNMA, Pool #FM7913, 2.000%, 4/1/36       1,235,846
   1,780,808 FNMA, Pool #FM8360, 2.500%, 8/1/51       1,493,215
  1,759,170 FNMA, Pool #FM8361, 2.500%, 8/1/51       1,471,072
Principal
Amount
      MarketValue
  U.S. Government Mortgage-Backed Obligations — 3.6%
(Continued)
$  1,272,063 FNMA, Pool #FM9448, 2.000%, 10/1/51     $  1,010,028
   1,096,976 FNMA, Pool #FS0816, 2.500%, 2/1/37         999,644
   2,136,238 FNMA, Pool #FS6793, 4.000%, 6/1/53       1,982,287
   2,277,394 FNMA, Pool #FS6899, 3.000%, 11/1/51       1,963,620
     581,111 FNMA, Pool #MA4166, 3.000%, 10/1/40         520,070
     393,041 GNMA, Pool #5175, 4.500%, 9/20/41         387,621
   1,656,570 GNMA, Pool #786741, 3.500%, 4/20/52       1,511,765
  2,126,381 GNMA, Pool #MA8945, 4.000%, 6/20/53       1,991,314
  Total U.S. Government Mortgage-Backed Obligations  $32,885,987
  Commercial Mortgage-Backed Securities — 2.0%
     825,000 BANK, Ser 2018-BN14, Class A3, 3.966%, 9/15/60         789,083
  26,175,980 BANK, Ser 2019-BN21, Class XA, 0.837%, 10/17/52(A)(B)(C)         931,221
     905,000 BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63         777,057
   1,150,000 BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55(A)(C)         992,324
   1,500,000 BX Commercial Mortgage Trust, Ser 2020-VIV3, Class B, 144a, 3.544%, 3/9/44(A)(C)       1,319,962
   1,500,000 BX Commercial Mortgage Trust, Ser 2020-VIV4, Class A, 144a, 2.843%, 3/9/44       1,297,755
     390,000 Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50(A)(C)         361,779
     755,000 Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53         661,842
   1,220,000 COMM Mortgage Trust, Ser 2018-HOME, Class A, 144a, 3.815%, 4/10/33(A)(C)       1,133,289
     700,000 GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.541%, 1/10/43(A)(C)         592,672
   1,205,000 GS Mortgage Securities Trust, Ser 2020-GC47, Class A5, 2.377%, 5/12/53       1,027,132
   1,000,000 HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (TSFR1M + 1.564%), 6.890%, 10/15/36(A)         953,125
562,000,000 Independence Plaza Trust, Ser 2018-INDP, Class XCP, 144a, 7/10/35(A)(B)(C)             562
     885,000 JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50         818,704
     315,000 JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47         292,833
     500,000 JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (TSFR1M + 1.317%), 6.642%, 11/15/35(A)         475,729
   1,100,000 Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51       1,054,343
     825,000 SG Commercial Mortgage Securities Trust, Ser 2019-787E, Class A, 144a, 4.163%, 2/15/41         736,903
     435,000 UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50         404,839
     435,000 WB Commercial Mortgage Trust, Ser 2024-HQ, Class A, 144a, 6.134%, 3/15/40(A)(C)         437,559
     495,000 Wells Fargo Commercial Mortgage Trust, Ser 2015-P2, Class AS, 4.013%, 12/15/48         478,011
     770,000 Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Class B, 144a, 4.058%, 8/17/36(A)(C)         694,906
  2,220,000 Wells Fargo Commercial Mortgage Trust, Ser 2019-C53, Class A4, 3.040%, 10/15/52       2,000,008
  Total Commercial Mortgage-Backed Securities  $18,231,638
  Asset-Backed Securities — 1.8%
  1,000,000 AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (TSFR3M + 1.912%), 7.226%, 4/15/34(A)       1,000,008
 
3

Touchstone Balanced Fund (Unaudited) (Continued)
Principal
Amount
      MarketValue
  Asset-Backed Securities — 1.8% (Continued)
$  1,500,000 AB BSL CLO 3, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (TSFR3M + 1.962%), 7.279%, 10/20/34(A)     $  1,500,657
     337,295 CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60         315,358
   1,030,125 CLI Funding VI LLC, Ser 2020-3A, Class A, 144a, 2.070%, 10/18/45         930,703
     831,250 Driven Brands Funding LLC, Ser 2019-1A, Class A2, 144a, 4.641%, 4/20/49         805,830
     213,830 Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34         203,412
   1,008,800 Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49         968,742
     960,000 Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52         890,422
     375,165 Jersey Mike's Funding, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50         359,129
   1,150,000 Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1, 144a, (TSFR3M + 1.962%), 7.271%, 10/19/34(A)       1,150,207
     826,625 Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51         733,934
   1,500,000 Palmer Square CLO, Ltd. (Cayman Islands), Ser 2021-4A, Class B, 144a, (TSFR3M + 1.912%), 7.226%, 10/15/34(A)       1,501,060
     980,000 Planet Fitness Master Issuer LLC, Ser 2022-1A, Class A2I, 144a, 3.251%, 12/5/51         915,197
   1,500,000 Rockford Tower CLO, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (TSFR3M + 2.012%), 7.329%, 10/20/34(A)(D)       1,500,120
     306,763 TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45         278,969
   1,190,000 Textainer Marine Containers, Ltd. (China), Ser 2021-3A, Class A, 144a, 1.940%, 8/20/46       1,025,119
   1,400,000 Towd Point Mortgage Trust, Ser 2015-6, Class B1, 144a, 3.841%, 4/25/55(A)(C)       1,311,273
  1,140,000 Towd Point Mortgage Trust, Ser 2019-4, Class M1B, 144a, 3.000%, 10/25/59(A)(C)         941,109
  Total Asset-Backed Securities  $16,331,249
  Non-Agency Collateralized Mortgage Obligations — 1.5%
      74,162 Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.562%, 7/25/43(A)(C)          69,826
     258,624 Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.498%, 6/25/45(A)(C)         246,079
     375,593 Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.644%, 10/25/45(A)(C)         346,130
     493,882 COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67(A)(C)         482,573
     153,223 CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.399%, 5/25/43(A)(C)         147,114
     260,534 CSMC Trust, Ser 2015-1, Class B3, 144a, 3.898%, 1/25/45(A)(C)         243,868
     279,235 CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.648%, 12/25/44(A)(C)         261,545
     916,034 Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67(A)(C)         873,949
   1,471,657 GCAT Trust, Ser 2022-NQM2, Class A1, 144a, 4.210%, 2/25/67(A)(C)       1,405,006
   1,159,136 GS Mortgage-Backed Securities Trust, Ser 2021-PJ8, Class A8, 144a, 2.500%, 1/25/52(A)(C)       1,005,546
     616,721 JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.452%, 1/25/47(A)(C)          543,858
Principal
Amount
      MarketValue
  Non-Agency Collateralized Mortgage Obligations — 1.5%
(Continued)
$  1,077,862 JP Morgan Mortgage Trust, Ser 2020-5, Class B1, 144a, 3.572%, 12/25/50(A)(C)     $    922,924
   1,500,000 JP Morgan Mortgage Trust, Ser 2024-3, Class A6, 144a, 3.000%, 5/25/54(A)(C)       1,357,591
     573,777 Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58(A)(C)         492,163
   1,397,426 Mill City Mortgage Loan Trust, Ser 2019-1, Class M1, 144a, 3.500%, 10/25/69(A)(C)       1,281,297
     132,677 Sequoia Mortgage Trust, Ser 2015-2, Class A19, 144a, 3.500%, 5/25/45(A)(C)         116,660
     865,622 Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.764%, 8/25/48(A)(C)         820,107
     785,372 Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.764%, 8/25/48(A)(C)         744,077
   1,383,226 Verus Securitization Trust, Ser 2022-7, Class A1, 144a, 5.152%, 7/25/67(A)(C)       1,373,233
  1,158,716 Wells Fargo Mortgage Backed Securities Trust, Ser 2021-2, Class A3, 144a, 2.500%, 6/25/51(A)(C)       1,005,289
  Total Non-Agency Collateralized Mortgage Obligations  $13,738,835
  Agency Collateralized Mortgage Obligations — 0.6%
     515,000 FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50         362,576
   1,650,000 FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40       1,185,605
   1,500,000 FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49       1,154,098
   2,150,000 FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49       1,577,209
   1,370,000 FREMF Mortgage Trust, Ser 2019-K103, Class B, 144a, 3.456%, 12/25/51(A)(C)       1,243,905
     166,214 GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40         163,711
  3,544,678 GNMA, Ser 2012-147, Class IO, 0.544%, 4/16/54(A)(B)(C)          37,488
  Total Agency Collateralized Mortgage Obligations   $5,724,592
  Sovereign Government Obligations — 0.3%
     674,000 Bahamas Government International Bond, 144a, 6.000%, 11/21/28         604,568
     834,000 Chile Government International Bond, 3.100%, 1/22/61         524,029
   1,034,000 Mexico Government International Bond, 3.771%, 5/24/61         670,669
    870,000 Republic of Poland Government International Bond, 5.500%, 3/18/54         864,067
  Total Sovereign Government Obligations   $2,663,333
Shares        
  Short-Term Investment Fund — 3.0%  
 27,409,032 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω  27,409,032
  Total Investment Securities—100.2%
(Cost $693,478,775)
$913,676,660
  Liabilities in Excess of Other Assets — (0.2%)  (1,726,238)
  Net Assets — 100.0% $911,950,422
(A) Variable rate security - Rate reflected is the rate in effect as of March 31, 2024.
(B) Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding.
 
4

Touchstone Balanced Fund (Unaudited) (Continued)
(C) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(D) Security has no stated coupon and is considered an equity position in the collateralized loan obligation (“CLO”). CLO equity investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses.
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
CLO – Collateralized Loan Obligation
DAC – Designated Activity Company
FHLMC – Federal Home Loan Mortgage Corporation
FNMA – Federal National Mortgage Association
FREMF – Freddie Mac Multifamily Securitization
GNMA – Government National Mortgage Association
ICE – Intercontinental Exchange, Inc.
IO – Interest Only
LLC – Limited Liability Company
LP – Limited Partnership
MTN – Medium Term Note
PLC – Public Limited Company
REIT – Real Estate Investment Trust
REMIC – Real Estate Mortgage Investment Conduit
TSFR1M – One Month Term Secured Overnight Financing Rate
TSFR3M – Three Month Term Secured Overnight Financing Rate
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2024, these securities were valued at $65,114,511 or 7.1% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Assets:        
Common Stocks $567,851,676 $$— $567,851,676
U.S. Treasury Obligations 115,324,330 115,324,330
Corporate Bonds 113,515,988 113,515,988
U.S. Government Mortgage-Backed Obligations 32,885,987 32,885,987
Commercial Mortgage-Backed Securities 18,231,638 18,231,638
Asset-Backed Securities 16,331,249 16,331,249
Non-Agency Collateralized Mortgage Obligations 13,738,835 13,738,835
Agency Collateralized Mortgage Obligations 5,724,592 5,724,592
Sovereign Government Obligations 2,663,333 2,663,333
Short-Term Investment Fund 27,409,032 27,409,032
Other Financial Instruments        
Futures        
Interest rate contracts 36,706 36,706
Total Assets $595,297,414 $318,415,952 $— $913,713,366
Liabilities:        
Other Financial Instruments        
Swap Agreements        
Credit contracts $$(756,066) $— $(756,066)
Futures        
Interest rate contracts (188,129) (188,129)
Total Liabilities $(188,129) $(756,066) $— $(944,195)
Total $595,109,285 $317,659,886 $— $912,769,171
 
Futures Contracts
At March 31, 2024, $415,379 was segregated with the broker as collateral for futures contracts. The Fund had the following futures contracts, brokered by Wells Fargo, open at March 31, 2024: 
Description Expiration Date Number of
Contracts
Notional Value Unrealized
Appreciation/
Depreciation
Short Futures:        
30-Year U.S. Ultra Treasury Bond 6/18/2024 102 $13,158,000 $(137,616)
Long Futures:        
5-Year U.S. Treasury Note 6/28/2024 239 25,576,736 36,706
2-Year U.S. Treasury Note 6/28/2024 277 56,642,172 (50,513)
        $(151,423)
5

Touchstone Balanced Fund (Unaudited) (Continued)
Centrally Cleared Credit Default Swaps on Credit Indices(1)
Counterparty Termination
Date
Notional
Amount(2)
Pay Fixed
Rate
Clearinghouse Underlying
Bond
Value(3) Premiums
Paid/
(Received)
Unrealized
Depreciation
Buy Protection:                
Wells Fargo 12/20/28 $10,117,800 5.000% ICE Markit CDX North America High Yield
Series 41 5Y Index
$(744,877) $11,189 $(756,066)
(1) If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.
(2) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.
(3) The quoted market prices and resulting values for credit default swap agreements on the underlying bond serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
See accompanying Notes to Portfolios of Investments.
6

Portfolio of Investments
Touchstone Core Municipal Bond Fund – March 31, 2024 (Unaudited)
Principal
Amount
      Market
Value
  Fixed Rate Revenue Bonds – 76.2%
$  550,000 Barry County, MO, COP, 5.000%, 10/01/37 $   584,611
   500,000 Beaumont , TX, Waterworks & Sewer System Revenue Ser A, 5.000%, 09/01/26    520,542
   500,000 Chicago O'Hare International Airport, Revenue Ser A, 5.000%, 01/01/31    525,064
   500,000 Chicago, IL, Wastewater Transmission Revenue Ser C, 5.000%, 01/01/26    505,304
   450,000 City of Erie Higher Education Building Authority, Revenue, 5.000%, 05/01/47    423,559
   500,000 Cleveland County Educational Fac. Auth., Revenue, 5.000%, 06/01/25    508,633
   500,000 Cobb County Kennestone Hospital Auth., Revenue, 4.000%, 04/01/52    469,536
   500,000 Colorado Health Fac. Auth., Revenue, 5.000%, 11/01/28    540,450
   500,000 Connecticut State Health & Educational Fac. Auth., Revenue, 5.000%, 07/01/48    528,350
   500,000 County of Miami-Dade FL Transit System, Revenue, 5.000%, 07/01/32    509,070
   500,000 County of Nez Perce, COP, 5.000%, 03/01/52    515,534
   685,000 DeKalb-Jackson Water Supply District Inc, Revenue Ser A, 5.000%, 07/01/32    759,949
   500,000 Florida Development Finance Corp., Revenue Ser A, 5.000%, 06/15/30    516,810
   425,000 Georgetown, TX, Utility System Revenue, 5.000%, 08/15/35    478,268
   500,000 Greater Jasper School Building Corp., Revenue, 5.000%, 07/15/29    539,806
   510,000 Greater Texas Cultural Education Fac. Finance Corp., Revenue, 5.000%, 03/01/28    547,054
   350,000 Guam Power Auth., Revenue Ser A, 5.000%, 10/01/26    358,486
   500,000 Hamilton County, OH, 5.000%, 08/15/40    527,363
1,000,000 Hamilton County, OH EDR, 5.000%, 06/01/33  1,014,232
   465,000 Harris County Cultural Education Fac. Finance Corp., Revenue Ser A, 5.000%, 07/01/52    487,487
   500,000 Health Care Auth. for Baptist Health/The, Revenue Ser A, 5.000%, 11/15/32    556,488
   500,000 Hospitals & Higher Education Fac. Auth. of Philadelphia/The, Revenue, 5.000%, 07/01/37    544,791
   500,000 Illinois Finance Auth., Revenue Ser A, 5.000%, 08/15/47    528,809
   675,000 Illinois State Toll Highway Authority, Revenue Ser A, 5.000%, 01/01/46    727,352
   500,000 Iowa Higher Education Loan Auth., Revenue, 5.375%, 10/01/52    518,155
   500,000 Kentucky Asset Liability Commission, Revenue Ser A, 5.000%, 09/01/25    510,071
   595,000 Kentucky Public Energy Auth., Revenue Ser 1, 4.000%, 02/01/30    595,149
   500,000 Los Angeles, CA, Wastewater System Revenue Ser C, 5.000%, 06/01/25    510,645
   500,000 Louisiana Local Government Environmental Fac. & Community Development Auth, Revenue, 5.000%, 08/15/30    527,379
   500,000 Louisiana Public Fac. Auth., Revenue Ser A, 5.000%, 10/15/37    567,371
   500,000 Louisville/Jefferson County Metropolitan Government, Revenue Ser A, 5.000%, 05/15/52    519,820
   500,000 Main Street Natural Gas, Inc., Revenue Ser B, 5.000%, 12/01/54    536,740
   500,000 Metropolitan Government Nashville & Davidson County Sports Auth., Revenue Ser A, 5.250%, 07/01/53    546,366
   500,000 Michigan Finance Auth., Revenue, 5.000%, 04/15/28    538,642
  500,000 Michigan Finance Authority, Revenue Ser C, 5.000%, 06/01/32     547,322
Principal
Amount
      Market
Value
   
$  500,000 Michigan State Building Auth., Revenue Ser I, 5.000%, 04/15/34 $   511,646
   500,000 Millard School District Local Building Auth., Revenue, 5.000%, 05/15/59    533,644
   500,000 Missouri Joint Municipal Electric Utility Commission, Revenue, 5.000%, 12/01/36    558,143
   500,000 Monroeville Finance Auth., Revenue Ser B, 5.000%, 02/15/29    545,248
   575,000 Montrose Redevelopment Auth., 5.000%, 09/01/26    594,562
   500,000 Municipal Electric Authority of Georgia Ser A, 5.000%, 07/01/52    519,493
   500,000 New Hampshire Business Finance Auth., Revenue Ser A, 5.250%, 06/01/51    545,608
   500,000 New Jersey Economic Development Auth., Revenue EDR, 5.000%, 03/01/28    536,387
   500,000 New Jersey Transportation Trust Fund Authority, Revenue Ser AA, 5.000%, 06/15/45    531,728
   500,000 New York State Dormitory Auth., Revenue, 5.000%, 07/01/29    526,277
   500,000 New York State Dormitory Auth., Revenue, 5.000%, 05/01/52    527,784
   500,000 Newark Higher Education Finance Corp., Revenue Ser A, 4.000%, 04/01/57    436,307
   500,000 Ohio Higher Educational Fac. Commission, 5.000%, 03/01/34    492,986
   500,000 Ozark Reorg School District No R-6, COP, 5.000%, 04/01/45    518,771
   500,000 Pasco County School Board, COP Ser B, 5.000%, 08/01/46    529,548
   500,000 Pennsylvania Economic Development Financing Auth., Revenue EDR Ser 2, 5.000%, 07/01/38    529,395
   500,000 Pennsylvania Higher Educational Fac. Auth., Revenue Ser A, 5.000%, 05/01/32    551,651
   500,000 Philadelphia Auth. for Industrial Development, Revenue, 5.250%, 11/01/47    533,045
   500,000 Polaris Career Center COP, 5.000%, 11/01/35    509,724
   500,000 Public Utility District No. 1 of Benton County, Revenue, 5.000%, 11/01/28    522,381
   500,000 Pulaski County, AR, Revenue, 5.250%, 03/01/53    540,063
   500,000 Regional Transportation District, Revenue Ser A, 5.000%, 01/15/29    536,514
   500,000 Regional Transportation District, Revenue Ser A, 5.000%, 01/15/31    552,522
   500,000 Rhode Island Health and Educational Building Corp., Revenue Ser A, 5.000%, 05/15/48    545,337
   500,000 Rock Hill , SC, Combined Utility System Revenue Ser A, 5.000%, 01/01/54    534,283
   520,000 South Carolina Public Service Auth., Revenue Ser A, 4.000%, 12/01/52    473,084
   585,000 South Wayne County Water and Sewer Authority, Revenue, 4.000%, 02/15/37    601,898
   500,000 Southwest Higher Education Auth., Inc., Revenue, 5.000%, 10/01/29    519,596
   500,000 St Lucie County School Board, COP Ser A, 5.000%, 07/01/48    538,846
   510,000 State Board of Higher Education of the State of North Dakota, Revenue Ser A, 5.000%, 04/01/29    537,545
   500,000 State of Illinois Sales Tax Revenue Ser B, 5.000%, 06/15/33    531,866
   500,000 Tobacco Settlement Financing Corp, Revenue Ser A, 5.000%, 06/01/30    537,334
   500,000 Town of Upland, Revenue EDR, 4.000%, 09/01/43    466,912
   500,000 Troy Capital Resource Corp., Revenue, 5.000%, 09/01/30    553,892
  500,000 Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 03/15/53     471,129
 
7

Touchstone Core Municipal Bond Fund (Unaudited) (Continued)
Principal
Amount
      Market
Value
  Fixed Rate Revenue Bonds – 76.2% (Continued)
$  500,000 Wisconsin Health & Educational Fac. Auth., Revenue Ser B, 5.250%, 12/01/48 $   527,198
  240,000 Yamhill County, OR, Revenue, 4.000%, 12/01/41    234,652
  Total Fixed Rate Revenue Bonds $38,392,207
  General Obligation Bonds – 20.8%
   500,000 Bartholomew Consolidated School Corp., LTGO, 6.000%, 01/15/26    522,328
   500,000 Bexar County Hospital District, LTGO, 5.000%, 02/15/48    535,317
   500,000 Chicago Board of Education, UTGO Ser A, 4.000%, 12/01/47    446,609
   500,000 Chicago, IL, UTGO Ser A, 5.000%, 01/01/34    549,896
   150,000 Detroit, MI, UTGO Ser C, 6.000%, 05/01/43    168,444
   505,000 Ecorse Public School District, UTGO, 5.000%, 05/01/27    533,851
   150,000 Gold Hill Mesa Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/29    163,037
   500,000 Grand Rapids Public Schools, UTGO, 5.000%, 05/01/25    508,186
   500,000 Homewood, AL, UTGO, 5.000%, 09/01/29    522,264
   500,000 Hudsonville Public Schools, UTGO, 5.000%, 05/01/53    531,521
   500,000 Jackson, MS, UTGO, 5.000%, 03/01/28    517,067
   610,000 Milwaukee, WI, UTGO Ser N3, 5.000%, 04/01/29    669,086
   500,000 North Pine Vistas Metropolitan District No 2, LTGO, 5.250%, 12/01/42    551,925
   450,000 School District of Philadelphia/The, LTGO Ser B, 5.000%, 09/01/30    496,694
   440,000 School District of Philadelphia/The, LTGO Ser D, 5.000%, 09/01/25    449,107
   500,000 St Louis, MO, UTGO Ser A, 5.000%, 02/15/43    541,399
   500,000 State of Illinois, UTGO Ser B, 5.500%, 05/01/47    546,402
1,000,000 Toledo, OH, LTGO, 4.000%, 12/01/35  1,044,621
   500,000 Whispering Pines Metropolitan District No 1, LTGO, 5.000%, 12/01/52    522,138
  650,000 Wichita Falls Independent School District, UTGO, 4.000%, 02/01/26    659,183
  Total General Obligation Bonds $10,479,075
Shares       Market
Value
  Short-Term Investment Fund — 1.9%
  968,661 Dreyfus Government Cash Management Institutional Shares, 5.20%∞Ω $   968,661
  Total Investment Securities—98.9%
(Cost $50,643,065)
$49,839,943
  Other Assets in Excess of Liabilities — 1.1%    $556,736
  Net Assets — 100.0% $50,396,679
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
COP–Certificates of Participation
EDR–Economic Development Revenue
LTGO–Limited Tax General Obligation
UTGO–Unlimited Tax General Obligation
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Municipal Bonds $$48,871,282 $— $48,871,282
Short-Term Investment Fund 968,661 968,661
Total $968,661 $48,871,282 $— $49,839,943
See accompanying Notes to Portfolios of Investments.
 
8

Portfolio of Investments
Touchstone International Equity Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 91.4%  
  France — 20.9%  
  Communication Services — 2.6%  
  153,800 JCDecaux SE* $  2,986,689
  Consumer Discretionary — 8.1%  
   72,800 Accor SA   3,398,773
  103,100 Cie Generale des Etablissements Michelin SCA   3,951,140
    2,200 LVMH Moet Hennessy Louis Vuitton SE   1,979,553
  Consumer Staples — 1.8%  
   12,800 Pernod Ricard SA   2,072,117
  Energy — 3.2%  
   54,000 TotalEnergies SE   3,714,627
  Financials — 2.7%  
   59,000 Edenred SE   3,150,290
  Health Care — 2.5%  
   29,000 Sanofi   2,821,251
  Total France  24,074,440
  United Kingdom — 13.3%  
  Communication Services — 2.3%  
  383,200 Rightmove PLC   2,656,062
  Health Care — 3.7%  
1,181,549 ConvaTec Group PLC, 144a   4,268,411
  Industrials — 5.9%  
   52,500 Bunzl PLC   2,020,074
  178,300 Howden Joinery Group PLC   2,041,033
  640,000 Rotork PLC   2,657,411
  Information Technology — 1.4%  
   39,800 Spectris PLC   1,656,069
  Total United Kingdom  15,299,060
  Switzerland — 10.4%  
  Consumer Staples — 3.1%  
   33,100 Nestle SA   3,516,874
  Health Care — 7.3%  
   31,300 Alcon, Inc.   2,588,869
   32,500 Novartis AG   3,147,899
   10,500 Roche Holding AG   2,680,850
  Total Switzerland  11,934,492
  Germany — 9.8%  
  Communication Services — 1.8%  
   27,200 Scout24 SE, 144a   2,049,202
  Health Care — 2.0%  
   87,900 Fresenius SE & Co. KGaA   2,370,383
  Industrials — 1.5%  
   20,700 Brenntag SE   1,744,617
  Information Technology — 1.9%  
   11,000 SAP SE   2,141,909
  Materials — 2.6%  
   76,400 FUCHS SE   3,000,239
  Total Germany  11,306,350
  United States — 5.6%  
  Health Care — 3.0%  
   39,700 Medtronic PLC   3,459,855
  Industrials — 2.6%  
   69,200 Experian PLC   3,015,248
  Total United States   6,475,103
Shares       Market
Value
     
  Japan — 5.5%  
  Consumer Discretionary — 2.2%  
  302,000 USS Co. Ltd. $  2,496,680
  Health Care — 1.5%  
  122,600 Olympus Corp.   1,765,233
  Industrials — 1.8%  
   74,400 FANUC Corp.   2,075,499
  Total Japan   6,337,412
  Canada — 5.2%  
  Materials — 5.2%  
   52,700 Agnico Eagle Mines Ltd.   3,142,430
  169,300 Barrick Gold Corp.   2,815,938
  Total Canada   5,958,368
  Mexico — 4.1%  
  Communication Services — 2.1%  
  873,398 Megacable Holdings SAB de CV   2,428,251
  Consumer Staples — 2.0%  
  970,500 Kimberly-Clark de Mexico SAB de CV - Class A   2,253,379
  Total Mexico   4,681,630
  Hong Kong — 2.9%  
  Consumer Discretionary — 2.9%  
  662,000 Galaxy Entertainment Group Ltd.   3,327,921
  Brazil — 2.7%  
  Financials — 2.7%  
  213,900 Pagseguro Digital Ltd. - Class A*   3,054,492
  South Korea — 2.6%  
  Information Technology — 2.6%  
   49,900 Samsung Electronics Co. Ltd.   2,998,866
  Taiwan — 2.4%  
  Information Technology — 2.4%  
   20,300 Taiwan Semiconductor Manufacturing Co. Ltd. ADR   2,761,815
  Greece — 2.1%  
  Consumer Discretionary — 2.1%  
  137,500 OPAP SA   2,474,343
  Norway — 2.0%  
  Energy — 2.0%  
  206,000 TGS ASA   2,271,317
  Netherlands — 1.8%  
  Information Technology — 1.8%  
    2,200 ASML Holding NV   2,132,816
  China — 0.1%  
  Consumer Discretionary — 0.1%  
    5,190 Meituan - Class B, 144a*      64,066
  Total Common Stocks $105,152,491
  Exchange-Traded Fund — 4.3%  
   60,900 iShares MSCI EAFE ETF   4,863,474
  Total Exchange-Traded Fund   $4,863,474
 
9

Touchstone International Equity Fund (Unaudited) (Continued)
Shares       Market
Value
  Short-Term Investment Fund — 4.1%  
4,745,437 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω $  4,745,437
  Total Investment Securities — 99.8%
(Cost $93,824,693)
$114,761,402
  Other Assets in Excess of Liabilities — 0.2%     286,156
  Net Assets — 100.0% $115,047,558
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
ETF – Exchange-Traded Fund
MSCI – Morgan Stanley Capital International
PLC – Public Limited Company
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2024, these securities were valued at $6,381,679 or 5.5% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks        
France $2,986,689 $21,087,751 $— $24,074,440
United Kingdom 15,299,060 15,299,060
Switzerland 11,934,492 11,934,492
Germany 3,000,239 8,306,111 11,306,350
United States 3,459,855 3,015,248 6,475,103
Japan 6,337,412 6,337,412
Canada 5,958,368 5,958,368
Mexico 4,681,630 4,681,630
Hong Kong 3,327,921 3,327,921
Brazil 3,054,492 3,054,492
South Korea 2,998,866 2,998,866
Taiwan 2,761,815 2,761,815
Greece 2,474,343 2,474,343
Norway 2,271,317 2,271,317
Netherlands 2,132,816 2,132,816
China 64,066 64,066
Exchange-Traded Fund 4,863,474 4,863,474
Short-Term Investment Fund 4,745,437 4,745,437
Total $37,986,342 $76,775,060 $— $114,761,402
See accompanying Notes to Portfolios of Investments.
10

Portfolio of Investments
Touchstone International Growth Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 99.0%  
  United States — 21.9%  
  Information Technology — 21.9%  
    8,670 Arista Networks, Inc.* $ 2,514,127
    2,590 Intuit, Inc.  1,683,500
    7,105 Microsoft Corp.  2,989,216
    5,590 NVIDIA Corp.  5,050,900
  Total United States 12,237,743
  India — 9.5%  
  Financials — 8.0%  
   24,990 HDFC Bank Ltd. ADR  1,398,690
  115,570 ICICI Bank Ltd. ADR  3,052,204
  Information Technology — 1.5%  
   18,340 Tata Consultancy Services Ltd.    855,964
  Total India  5,306,858
  Switzerland — 8.7%  
  Consumer Staples — 2.7%  
   48,740 Coca-Cola HBC AG  1,540,198
  Health Care — 6.0%  
   27,025 Alcon, Inc.  2,235,278
    6,870 Straumann Holding AG  1,096,161
  Total Switzerland  4,871,637
  Canada — 7.7%  
  Consumer Discretionary — 4.3%  
   31,215 Dollarama, Inc.  2,377,967
  Industrials — 3.4%  
   63,365 CAE, Inc.*  1,308,419
    6,605 Canadian Pacific Kansas City Ltd.    582,360
  Total Canada  4,268,746
  Germany — 7.6%  
  Communication Services — 3.4%  
   31,225 Stroeer SE & Co. KGaA  1,899,952
  Information Technology — 4.2%  
   11,930 SAP SE  2,322,998
  Total Germany  4,222,950
  France — 6.4%  
  Information Technology — 6.4%  
   15,400 Capgemini SE  3,543,706
  Netherlands — 5.7%  
  Information Technology — 5.7%  
    3,294 ASML Holding NV  3,193,407
  Israel — 5.6%  
  Information Technology — 5.6%  
   11,985 Nice Ltd. ADR*  3,123,531
  Spain — 4.6%  
  Consumer Discretionary — 2.0%  
   17,040 Amadeus IT Group SA  1,093,912
  Health Care — 2.6%  
  162,540 Grifols SA*  1,462,038
  Total Spain  2,555,950
  Sweden — 4.3%  
  Consumer Discretionary — 4.3%  
   19,435 Evolution AB, 144a  2,413,904
Shares       Market
Value
     
  Argentina — 3.7%  
  Information Technology — 3.7%  
   10,255 Globant SA* $ 2,070,485
  Indonesia — 3.5%  
  Financials — 3.5%  
4,249,900 Bank Mandiri Persero Tbk PT  1,933,675
  Taiwan — 3.5%  
  Information Technology — 3.5%  
   14,165 Taiwan Semiconductor Manufacturing Co. Ltd. ADR  1,927,148
  Denmark — 2.0%  
  Health Care — 2.0%  
    8,855 Novo Nordisk A/S - Class B  1,135,861
  United Kingdom — 2.0%  
  Health Care — 2.0%  
    8,450 AstraZeneca PLC  1,135,205
  Poland — 1.3%  
  Consumer Staples — 1.3%  
    7,218 Dino Polska SA, 144a*    700,603
  Japan — 1.0%  
  Information Technology — 1.0%  
    2,200 Tokyo Electron Ltd.    572,988
  Total Common Stocks $55,214,397
  Short-Term Investment Fund — 1.2%  
  661,824 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω    661,824
  Total Investment Securities — 100.2%
(Cost $39,668,565)
$55,876,221
  Liabilities in Excess of Other Assets — (0.2)%    (96,786)
  Net Assets — 100.0% $55,779,435
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
PLC – Public Limited Company
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2024, these securities were valued at $3,114,507 or 5.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees.
 
11

Touchstone International Growth Fund (Unaudited) (Continued)
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks        
United States $12,237,743 $$— $12,237,743
India 4,450,894 855,964 5,306,858
Switzerland 4,871,637 4,871,637
Canada 4,268,746 4,268,746
Germany 1,899,952 2,322,998 4,222,950
France 3,543,706 3,543,706
Netherlands 3,193,407 3,193,407
Israel 3,123,531 3,123,531
Spain 2,555,950 2,555,950
Sweden 2,413,904 2,413,904
Argentina 2,070,485 2,070,485
Indonesia 1,933,675 1,933,675
Taiwan 1,927,148 1,927,148
Denmark 1,135,861 1,135,861
United Kingdom 1,135,205 1,135,205
Poland 700,603 700,603
Japan 572,988 572,988
Short-Term Investment Fund 661,824 661,824
Total $31,340,926 $24,535,295 $— $55,876,221
See accompanying Notes to Portfolios of Investments.
12

Portfolio of Investments
Touchstone Large Cap Focused Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 94.9%  
  Information Technology — 25.5%  
  1,192,750 Apple, Inc. $  204,532,770
    235,651 International Business Machines Corp.    44,999,915
    757,177 Microsoft Corp.   318,559,507
    517,541 Oracle Corp.    65,008,325
    273,284 Salesforce, Inc.    82,307,675
    223,454 Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR    30,400,917
    325,115 Texas Instruments, Inc.    56,638,284
    174,337 Workday, Inc. - Class A*    47,550,417
          849,997,810
  Health Care — 14.9%  
    154,935 Becton Dickinson & Co.    38,338,666
    540,135 BioMarin Pharmaceutical, Inc.*    47,175,391
    825,047 Bristol-Myers Squibb Co.    44,742,299
    207,990 Cencora, Inc.    50,539,490
    244,688 HCA Healthcare, Inc.    81,610,789
    517,873 Johnson & Johnson    81,922,330
    732,329 Medtronic PLC    63,822,472
    179,842 UnitedHealth Group, Inc.    88,967,837
          497,119,274
  Communication Services — 14.3%  
  1,167,554 Alphabet, Inc. - Class C*   177,771,772
  1,034,614 Comcast Corp. - Class A    44,850,517
    387,355 Meta Platforms, Inc. - Class A   188,091,841
     59,131 Netflix, Inc.*    35,912,030
    236,159 Walt Disney Co. (The)    28,896,415
          475,522,575
  Financials — 14.2%  
  1,968,763 Bank of America Corp.    74,655,493
    356,143 Berkshire Hathaway, Inc. - Class B*   149,765,254
    468,293 Charles Schwab Corp. (The)    33,876,316
    191,664 Goldman Sachs Group, Inc. (The)    80,056,136
     36,350 Markel Group, Inc.*    55,305,798
    289,541 Visa, Inc. - Class A    80,805,102
          474,464,099
  Consumer Discretionary — 8.4%  
    222,780 Airbnb, Inc. - Class A*    36,749,789
    180,099 Alibaba Group Holding Ltd. (China) ADR    13,031,964
    955,520 Amazon.com, Inc.*   172,356,698
    134,803 Hilton Worldwide Holdings, Inc.    28,754,828
    327,273 Starbucks Corp.    29,909,479
          280,802,758
  Industrials — 7.9%  
    230,346 Boeing Co. (The)*    44,454,475
     94,428 FedEx Corp.    27,359,569
     99,781 Hubbell, Inc.    41,414,104
    545,667 RTX Corp.    53,218,902
    820,086 Southwest Airlines Co.     23,938,310
Shares       Market
Value
     
  Industrials — 7.9% (Continued)  
    597,739 SS&C Technologies Holdings, Inc. $   38,476,459
    341,064 Stanley Black & Decker, Inc.    33,400,398
          262,262,217
  Consumer Staples — 3.4%  
    992,197 Monster Beverage Corp.*    58,817,438
    610,083 Philip Morris International, Inc.    55,895,805
          114,713,243
  Energy — 2.8%  
    614,529 Exxon Mobil Corp.    71,432,851
    365,452 Schlumberger NV    20,030,424
           91,463,275
  Materials — 2.4%  
    613,323 DuPont de Nemours, Inc.    47,023,474
    361,806 International Flavors & Fragrances, Inc.    31,111,698
           78,135,172
  Real Estate — 1.1%  
    188,994 Jones Lang LaSalle, Inc.*    36,870,840
  Total Common Stocks $3,161,351,263
  Short-Term Investment Fund — 5.4%  
179,895,786 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω   179,895,786
  Total Investment Securities—100.3%
(Cost $1,807,289,369)
$3,341,247,049
  Liabilities in Excess of Other Assets — (0.3%)    (8,952,706)
  Net Assets — 100.0% $3,332,294,343
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
PLC – Public Limited Company
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $3,161,351,263 $— $— $3,161,351,263
Short-Term Investment Fund 179,895,786 179,895,786
Total $3,341,247,049 $— $— $3,341,247,049
See accompanying Notes to Portfolios of Investments.
 
13

Portfolio of Investments
Touchstone Large Cap Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 97.7%  
  Financials — 27.5%  
   47,618 Berkshire Hathaway, Inc. - Class B* $ 20,024,321
   15,887 BlackRock, Inc.  13,244,992
  140,887 Charles Schwab Corp. (The)  10,191,766
   69,612 Fiserv, Inc.*  11,125,390
   65,086 Progressive Corp. (The)  13,461,086
   42,519 Visa, Inc. - Class A  11,866,203
         79,913,758
  Materials — 13.8%  
   36,966 Air Products & Chemicals, Inc.   8,955,753
   37,575 Albemarle Corp.   4,950,130
   24,921 Martin Marietta Materials, Inc.  15,299,999
   17,300 NewMarket Corp.  10,978,926
         40,184,808
  Consumer Discretionary — 13.8%  
   60,189 CarMax, Inc.*   5,243,064
   28,657 Home Depot, Inc. (The)  10,992,825
   24,554 Lowe's Cos., Inc.   6,254,640
    8,404 O'Reilly Automotive, Inc.*   9,487,108
   88,437 Starbucks Corp.   8,082,257
         40,059,894
  Industrials — 12.7%  
   34,034 FedEx Corp.   9,861,011
   34,023 Norfolk Southern Corp.   8,671,442
   40,222 Old Dominion Freight Line, Inc.   8,821,087
   50,490 Republic Services, Inc.   9,665,806
         37,019,346
  Information Technology — 10.0%  
   85,002 Apple, Inc.  14,576,143
  112,475 Cisco Systems, Inc.   5,613,627
   51,634 Texas Instruments, Inc.   8,995,159
         29,184,929
  Consumer Staples — 7.8%  
  172,323 Altria Group, Inc.   7,516,729
   79,935 Church & Dwight Co., Inc.   8,338,020
   64,996 Nestle SA (Switzerland) ADR   6,902,575
         22,757,324
Shares       Market
Value
     
  Communication Services — 6.1%  
  116,222 Alphabet, Inc. - Class C* $ 17,695,962
  Health Care — 3.3%  
   39,673 Johnson & Johnson   6,275,872
  121,874 Pfizer, Inc.   3,382,004
          9,657,876
  Energy — 2.7%  
   50,042 Chevron Corp.   7,893,625
  Total Common Stocks $284,367,522
  Short-Term Investment Fund — 2.3%  
6,762,680 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω   6,762,680
  Total Investment Securities—100.0%
(Cost $163,915,741)
$291,130,202
  Other Assets in Excess of Liabilities — 0.0%       4,016
  Net Assets — 100.0% $291,134,218
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $284,367,522 $— $— $284,367,522
Short-Term Investment Fund 6,762,680 6,762,680
Total $291,130,202 $— $— $291,130,202
See accompanying Notes to Portfolios of Investments.
 
14

Portfolio of Investments
Touchstone Large Company Growth Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 99.5%  
  Information Technology — 55.9%  
  6,049 Accenture PLC - Class A $  2,096,644
  7,025 Adobe, Inc.*   3,544,815
 22,308 Advanced Micro Devices, Inc.*   4,026,371
 33,884 Arista Networks, Inc.*   9,825,682
  6,326 ASML Holding NV (Netherlands)   6,139,193
 15,870 Autodesk, Inc.*   4,132,866
 13,230 Dynatrace, Inc.*     614,401
 25,309 Entegris, Inc.   3,556,927
  6,837 EPAM Systems, Inc.*   1,888,106
 48,280 Fortinet, Inc.*   3,298,007
 10,384 Intuit, Inc.   6,749,600
 42,738 Microsoft Corp.  17,980,731
 20,484 NVIDIA Corp.  18,508,523
         82,361,866
  Communication Services — 11.6%  
 69,707 Alphabet, Inc. - Class A*  10,520,877
 13,598 Meta Platforms, Inc. - Class A   6,602,917
         17,123,794
  Financials — 11.1%  
 45,305 Charles Schwab Corp. (The)   3,277,364
 26,952 Fiserv, Inc.*   4,307,469
  5,441 Mastercard, Inc. - Class A   2,620,222
 21,908 Visa, Inc. - Class A   6,114,084
         16,319,139
  Consumer Discretionary — 9.8%  
 69,382 Amazon.com, Inc.*  12,515,125
    684 Chipotle Mexican Grill, Inc.*   1,988,231
         14,503,356
  Industrials — 5.0%  
 10,012 Automatic Data Processing, Inc.   2,500,397
  3,777 Paycom Software, Inc.     751,661
 54,123 Uber Technologies, Inc.*   4,166,930
          7,418,988
Shares       Market
Value
     
  Health Care — 4.4%  
 44,957 Boston Scientific Corp.* $  3,079,105
 24,780 Neurocrine Biosciences, Inc.*   3,417,658
          6,496,763
  Consumer Staples — 1.7%  
 42,026 Monster Beverage Corp.*   2,491,301
  Total Common Stocks $146,715,207
  Short-Term Investment Fund — 0.6%  
881,225 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω     881,225
  Total Investment Securities—100.1%
(Cost $80,686,445)
$147,596,432
  Liabilities in Excess of Other Assets — (0.1%)    (109,317)
  Net Assets — 100.0% $147,487,115
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
PLC – Public Limited Company
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $146,715,207 $— $— $146,715,207
Short-Term Investment Fund 881,225 881,225
Total $147,596,432 $— $— $147,596,432
See accompanying Notes to Portfolios of Investments.
 
15

Portfolio of Investments
Touchstone Small Company Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 97.9%  
  Industrials — 22.2%  
   125,669 Albany International Corp. - Class A $   11,751,308
   111,309 ASGN, Inc.*    11,660,731
    44,194 CACI International, Inc. - Class A*    16,742,013
    88,625 Clean Harbors, Inc. *    17,841,099
    89,242 Crane Co.    12,059,272
   327,850 CSG Systems International, Inc.    16,897,389
    67,018 Curtiss-Wright Corp.    17,152,587
    33,720 EMCOR Group, Inc.    11,808,744
   113,428 ESCO Technologies, Inc.    12,142,467
   507,545 ExlService Holdings, Inc.*    16,139,931
   141,029 Federal Signal Corp.    11,969,131
   165,238 ITT, Inc.    22,477,325
   185,949 KBR, Inc.    11,837,513
   188,136 MAXIMUS, Inc.    15,784,611
   395,810 WNS Holdings Ltd. (India) ADR*    20,000,279
   345,274 Zurn Elkay Water Solutions Corp.    11,556,321
          237,820,721
  Information Technology — 17.5%  
    95,409 Advanced Energy Industries, Inc.     9,729,810
   540,207 Box, Inc. - Class A*    15,298,662
 1,796,728 CCC Intelligent Solutions Holdings, Inc.*    21,488,867
   202,120 Ciena Corp.*     9,994,834
   163,745 CommVault Systems, Inc.*    16,608,655
   184,137 Crane NXT Co.    11,398,080
   379,550 Digi International, Inc.*    12,119,032
    84,883 Onto Innovation, Inc.*    15,370,614
   733,500 PowerSchool Holdings, Inc. - Class A*    15,616,215
    66,550 Qualys, Inc.*    11,105,199
    50,171 SPS Commerce, Inc.*     9,276,618
   288,290 Teradata Corp.*    11,148,174
   361,940 Tower Semiconductor Ltd. (Israel)*    12,106,893
   493,335 Verint Systems, Inc.*    16,354,055
          187,615,708
  Health Care — 15.1%  
   378,788 Astrana Health, Inc.*    15,905,308
   160,650 Bio-Techne Corp.    11,308,154
    17,685 Chemed Corp.    11,352,532
   400,500 Doximity, Inc. - Class A*    10,777,455
   202,212 Encompass Health Corp.    16,698,667
   126,117 Ensign Group, Inc. (The)    15,691,477
   407,674 Globus Medical, Inc. - Class A*    21,867,633
   146,680 Haemonetics Corp.*    12,519,138
   157,024 Merit Medical Systems, Inc.*    11,894,568
   510,204 Premier, Inc. - Class A    11,275,509
   599,213 Progyny, Inc.*    22,859,976
          162,150,417
  Consumer Discretionary — 14.8%  
   117,300 Crocs, Inc.*    16,867,740
   501,026 Frontdoor, Inc.*    16,323,427
   449,960 Gentex Corp.    16,252,555
    85,845 Grand Canyon Education, Inc.*    11,692,947
   283,609 Malibu Boats, Inc. - Class A*    12,274,598
   106,149 Oxford Industries, Inc.    11,931,148
    87,220 PVH Corp.    12,264,004
   140,057 Skyline Champion Corp.*    11,906,246
   371,340 Steven Madden Ltd.    15,700,255
   104,119 Texas Roadhouse, Inc.    16,083,262
    38,503 TopBuild Corp.*    16,969,427
          158,265,609
Shares       Market
Value
     
  Financials — 9.2%  
   458,668 Atlantic Union Bankshares Corp. $   16,195,567
    58,680 Evercore, Inc. - Class A    11,301,181
 1,163,727 FNB Corp.    16,408,551
   652,692 Home BancShares, Inc.    16,036,642
   195,545 SouthState Corp.    16,627,191
   440,593 Webster Financial Corp.    22,368,907
           98,938,039
  Real Estate — 8.1%  
   270,857 Agree Realty Corp. REIT    15,471,352
   706,590 Apple Hospitality REIT, Inc.    11,573,944
    92,904 Colliers International Group, Inc. (Canada)    11,355,656
   872,298 COPT Defense Properties REIT    21,083,442
   530,351 Kite Realty Group Trust REIT    11,498,010
   415,979 STAG Industrial, Inc. REIT    15,990,233
           86,972,637
  Materials — 4.2%  
   119,068 Ashland, Inc.    11,593,651
    58,640 Eagle Materials, Inc.    15,935,420
   353,323 Silgan Holdings, Inc.    17,157,365
           44,686,436
  Energy — 3.9%  
   324,010 Cactus, Inc. - Class A    16,229,661
   338,561 ChampionX Corp.    12,150,954
   549,220 Oceaneering International, Inc.*    12,851,748
           41,232,363
  Communication Services — 2.9%  
   689,551 Cargurus, Inc.*    15,914,837
   246,181 Ziff Davis, Inc.*    15,519,250
           31,434,087
  Total Common Stocks $1,049,116,017
  Short-Term Investment Fund — 1.9%  
20,031,678 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω    20,031,678
  Total Investment Securities—99.8%
(Cost $769,311,268)
$1,069,147,695
  Other Assets in Excess of Liabilities — 0.2%     1,830,512
  Net Assets — 100.0% $1,070,978,207
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
 
16

Touchstone Small Company Fund (Unaudited) (Continued)
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $1,029,115,738 $20,000,279 $— $1,049,116,017
Short-Term Investment Fund 20,031,678 20,031,678
Total $1,049,147,416 $20,000,279 $— $1,069,147,695
See accompanying Notes to Portfolios of Investments.
17

Portfolio of Investments
Touchstone Value Fund – March 31, 2024 (Unaudited)
Shares       Market
Value
  Common Stocks — 97.4%  
  Financials — 14.7%  
    39,891 American Express Co. $  9,082,782
   154,253 American International Group, Inc.  12,057,957
   265,222 Fidelity National Information Services, Inc.  19,674,168
    39,017 M&T Bank Corp.   5,674,632
    61,555 The Allstate Corp.  10,649,631
   145,006 US Bancorp   6,481,768
   181,144 Wells Fargo & Co.  10,499,106
    28,561 Willis Towers Watson PLC   7,854,275
         81,974,319
  Health Care — 13.4%  
   487,503 Avantor, Inc.*  12,465,452
    74,844 CVS Health Corp.   5,969,557
    30,864 Elevance Health, Inc.  16,004,218
   106,318 Medtronic PLC   9,265,614
   114,514 Merck & Co., Inc.  15,110,122
   111,506 Sanofi SA ADR   5,419,192
    20,906 UnitedHealth Group, Inc.  10,342,198
         74,576,353
  Energy — 11.9%  
   382,656 Enbridge, Inc. (Canada)  13,844,494
   359,376 Halliburton Co.  14,166,602
    76,223 Hess Corp.  11,634,679
    77,912 Phillips 66  12,726,146
    53,717 Pioneer Natural Resources  14,100,712
         66,472,633
  Information Technology — 11.2%  
    14,989 Broadcom, Inc.  19,866,571
    96,393 Cognizant Technology Solutions Corp. - Class A   7,064,643
    85,212 Oracle Corp.  10,703,479
    98,818 QUALCOMM, Inc.  16,729,887
    75,846 Skyworks Solutions, Inc.   8,215,639
         62,580,219
  Industrials — 10.7%  
    51,021 AECOM   5,004,140
    73,102 Jacobs Solutions, Inc.  11,237,971
    55,937 JB Hunt Transport Services, Inc.  11,145,447
    65,860 Stanley Black & Decker, Inc.   6,449,670
   315,832 Vertiv Holdings Co. - Class A  25,793,999
         59,631,227
  Consumer Discretionary — 10.6%  
   147,709 Aptiv PLC*  11,765,022
   352,597 Aramark  11,466,455
   309,090 Las Vegas Sands Corp.  15,979,953
    30,992 Lithia Motors, Inc.   9,324,253
   100,545 Wynn Resorts Ltd.  10,278,715
         58,814,398
  Materials — 8.0%  
    61,194 Air Products & Chemicals, Inc.  14,825,470
   307,466 Axalta Coating Systems Ltd. *  10,573,756
   169,502 CRH PLC  14,621,243
    58,142 DuPont de Nemours, Inc.   4,457,747
         44,478,216
Shares       Market
Value
     
  Communication Services — 5.8%  
    60,648 Alphabet, Inc. - Class A* $  9,153,603
   370,757 Comcast Corp. - Class A  16,072,316
    53,626 Electronic Arts, Inc.   7,114,561
         32,340,480
  Consumer Staples — 3.9%  
   263,839 Keurig Dr Pepper, Inc.   8,091,942
   150,180 Philip Morris International, Inc.  13,759,492
         21,851,434
  Real Estate — 3.7%  
    32,226 Public Storage REIT   9,347,474
   381,674 VICI Properties, Inc. REIT  11,370,068
         20,717,542
  Utilities — 3.5%  
   116,194 Entergy Corp.  12,279,382
    99,366 Pinnacle West Capital Corp.   7,425,621
         19,705,003
  Total Common Stocks $543,141,824
  Short-Term Investment Fund — 2.7%  
15,372,013 Dreyfus Government Cash Management, Institutional Shares, 5.20%∞Ω  15,372,013
  Total Investment Securities—100.1%
(Cost $401,436,612)
$558,513,837
  Liabilities in Excess of Other Assets — (0.1%)    (691,321)
  Net Assets — 100.0% $557,822,516
* Non-income producing security.
Open-End Fund.
Ω Represents the 7-Day SEC yield as of March 31, 2024.
Portfolio Abbreviations:
ADR – American Depositary Receipt
PLC – Public Limited Company
REIT – Real Estate Investment Trust
Other Information:
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the security valuation section in the accompanying Notes to Portfolios of Investments.
Valuation Inputs at Reporting Date:
Description Level 1 Level 2 Level 3 Total
Common Stocks $543,141,824 $— $— $543,141,824
Short-Term Investment Fund 15,372,013 15,372,013
Total $558,513,837 $— $— $558,513,837
See accompanying Notes to Portfolios of Investments.
 
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Notes to Portfolios of Investments
March 31, 2024 (Unaudited)
Security valuation and fair value measurements — U.S. generally accepted accounting principles (“U.S. GAAP”) defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date.  All investments in securities are recorded at their fair value. The Funds define the term “market value”, as used throughout this report, as the estimated fair value. The Funds use various methods to measure fair value of their portfolio securities on a recurring basis. U.S. GAAP fair value measurement standards require disclosure of a hierarchy that prioritizes inputs to valuation methods. These inputs are summarized in the three broad levels listed below:
•  Level 1 − quoted prices in active markets for identical securities
•  Level 2 − other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•  Level 3 − significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The aggregate value by input level, as of March 31, 2024, for each Fund’s investments, is included in each Fund’s Portfolio of Investments, which also includes a breakdown of the Fund’s investments by geographic and/or sector allocation. The Funds did not hold or transfer any Level 3 categorized securities during the period ended March 31, 2024.
Changes in valuation techniques may result in transfers into or out of an investment’s assigned level within the hierarchy.
The Funds' portfolio securities are valued as of the close of the regular session of trading on the New York Stock Exchange (“NYSE”) (currently 4:00 p.m., Eastern Time or at the time as of which the NYSE establishes official closing prices). Portfolio securities traded on stock exchanges are valued at the last reported sale price, official close price, or last bid price if no sales are reported. Portfolio securities quoted by NASDAQ are valued at the NASDAQ Official Closing Price (“NOCP”) or from the primary exchange on which the security trades. To the extent these securities are actively traded, they are categorized in Level 1 of the fair value hierarchy. Options and futures are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long option positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price on the valuation date and are categorized in Level 1. Shares of mutual funds in which the Funds invest are valued at their respective net asset value (“NAV”) as reported by the underlying funds and are categorized in Level 1.
Debt securities held by the Funds are valued at their evaluated bid by an independent pricing service or at their last broker-quoted bid prices as obtained from one or more of the major market makers for such securities. Independent pricing services use information provided by market makers or estimates of market values through accepted market modeling conventions. Observable inputs to the models may include prepayment speeds, pricing spread, yield, trade information, dealer quotes, market color, cash flow models, the securities’ terms and conditions, among others, and are generally categorized in Level 2. Investments in asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche, and are generally categorized in Level 2. Debt securities with remaining maturities of 60 days or less may be valued at amortized cost, provided such amount approximates market value and are categorized in Level 2. While this method provides consistency in valuation (and may only be used if it approximates market value), it may result in periods during which fair value, as determined by amortized cost, is higher or lower than the price that would be received if the Fund sold the investment.
Securities mainly traded on a non-U.S. exchange or denominated in foreign currencies are generally valued according to the preceding closing values on that exchange, translated to U.S. dollars using currency exchange rates as of the close of regular trading on the NYSE, and are generally categorized in Level 1. However, if an event that may change the value of a security occurs after the time that the closing value on the non-U.S. exchange was determined, but before the close of regular trading on the NYSE, the security may be priced based on fair value and is generally categorized in Level 2. This may cause the value of the security, if held on the books of a Fund, to be different from the closing value on the non-U.S. exchange and may affect the calculation of that Fund’s NAV. The Funds may use fair value pricing under the following circumstances, among others:
•  If the value of a security has been materially affected by events occurring before the Funds' pricing time but after the close of the primary markets on which the security is traded.
•  If the exchange on which a portfolio security is principally traded closes early or if trading in a particular portfolio security was halted during the day and did not resume prior to the Funds' NAV calculation.
•  If a security is so thinly traded that reliable market quotations are unavailable due to infrequent trading.
•  If the validity of market quotations is not reliable.
Securities held by the Funds that do not have readily available market quotations, significant observable inputs, or securities for which the available market quotations are not reliable, are priced at their estimated fair value using procedures established by the Touchstone Advisors, Inc. and adopted by the Funds’ Board of Trustees and are generally categorized in Level 3.
19

Notes to Portfolios of Investments (Unaudited) (Continued)
Each Fund is an investment company that follows the accounting and reporting guidance of Accounting Standards Codification Topic 946 applicable to investment companies.
Security transactions—Security transactions are reflected for financial reporting purposes as of the trade date.
20