UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number
811-08228
The Timothy Plan
(Exact name of registrant as specified in charter)
1055 Maitland Center Commons, Maitland, FL 32751
(Address of principal executive offices)
(Zip code)
Gemini Fund Services, LLC., 80 Arkay Drive, Suite 110, Hauppauge, NY 11788
(Name and address of agent for service)
Registrant's telephone number, including area code:
1-800-846-7526
Date of fiscal year end:
9/30
Date of reporting period: 6/30/2013
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments.
Timothy Plan Aggressive Growth Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 97.3 % |
|
|
|
| AEROSPACE/DEFENSE - 1.1 % |
|
|
3,215 |
| B/E Aerospace, Inc. * |
|
$ 202,802 |
|
|
|
|
|
|
| APPAREL - 5.9 % |
|
|
2,700 |
| Carter's, Inc. |
|
199,989 |
6,390 |
| Hanesbrands, Inc. |
|
328,574 |
2,675 |
| Oxford Industries, Inc. |
|
166,920 |
2,825 |
| Steven Madden Ltd. * |
|
136,673 |
1,150 |
| VF Corp. |
|
222,019 |
|
|
|
|
1,054,175 |
|
|
BANKS - 7.1 % |
|
|
890 |
|
Bryn Mawr Bank Corp. |
|
21,298 |
5,605 |
|
Cardinal Financial Corp. |
|
82,057 |
4,850 |
|
Cathay General Bancorp |
|
98,697 |
5,620 |
|
CIT Group, Inc. * |
|
262,061 |
10,215 |
|
First Horizon National Corp. |
|
114,408 |
26,320 |
|
Huntington Bancshares, Inc./OH |
|
207,402 |
75,525 |
|
Synovus Financial Corp. |
|
220,533 |
9,315 |
|
Zions Bancorp. |
|
269,017 |
|
|
|
|
1,275,473 |
|
|
BIOTECHNOLOGY - 1.4 % |
|
|
625 |
|
Aegerion Pharmaceuticals, Inc. * |
|
39,588 |
1,025 |
|
Alexion Pharmaceuticals, Inc. * |
|
94,546 |
3,530 |
|
Incyte Corp. Ltd. * |
|
77,660 |
2,845 |
|
NPS Pharmaceuticals, Inc. * |
|
42,960 |
|
|
|
|
254,754 |
|
|
COMMERCIAL SERVICES - 10.9 % |
|
|
7,205 |
|
Cardtronics, Inc. * |
|
198,858 |
4,840 |
|
Euronet Worldwide, Inc. * |
|
154,202 |
5,550 |
|
EVERTEC, Inc. * |
|
121,933 |
3,034 |
|
FleetCor Technologies, Inc. * |
|
246,664 |
4,900 |
|
H&E Equipment Services, Inc. |
|
103,243 |
6,100 |
|
K12, Inc. * |
|
160,247 |
4,865 |
|
SEI Investments Co. |
|
138,312 |
1,350 |
|
Team Health Holdings, Inc. * |
|
55,445 |
3,645 |
|
United Rentals, Inc. * |
|
181,922 |
8,525 |
|
Vantiv, Inc. - Cl. A * |
|
235,290 |
2,385 |
|
Verisk Analytics, Inc. - Cl. A * |
|
142,385 |
13,395 |
|
WNS Holdings Ltd. - ADR * |
|
223,563 |
|
|
|
|
1,962,064 |
|
|
COMPUTERS - 2.0 % |
|
|
700 |
|
Cognizant Technology Solutions Corp. - Cl. A * |
|
43,827 |
1,525 |
|
IHS, Inc. - Cl. A * |
|
159,179 |
1,165 |
|
Manhattan Associates, Inc. * |
|
89,891 |
3,505 |
|
Mentor Graphics Corp. |
|
68,523 |
|
|
|
|
361,420 |
|
|
DISTRIBUTION/WHOLESALE - 2.0 % |
|
|
470 |
|
MWI Veterinary Supply, Inc. * |
|
57,923 |
4,310 |
|
WESCO International, Inc. * |
|
292,908 |
|
|
|
|
350,831 |
|
|
DIVERSIFIED FINANCIAL SERVICES - 4.7 % |
|
|
620 |
|
Affiliated Managers Group, Inc. * |
|
101,643 |
3,025 |
|
Discover Financial Services |
|
144,111 |
2,675 |
|
Evercore Partners, Inc. - Cl. A |
|
105,074 |
2,515 |
|
IntercontinentalExchange, Inc. * |
|
447,066 |
1,585 |
|
Lazard Ltd. - Cl. A |
|
50,958 |
|
|
|
|
848,852 |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 1.5 % |
| |
1,225 |
|
Acuity Brands, Inc. |
|
92,512 |
2,680 |
|
AMETEK, Inc. |
|
113,364 |
730 |
|
Hubbell, Inc. |
|
72,270 |
|
|
|
|
278,146 |
|
|
ELECTRONICS - 6.0 % |
|
|
3,225 |
|
Amphenol Corp. |
|
251,356 |
3,005 |
|
FEI Co. |
|
219,335 |
680 |
|
Mettler-Toledo International, Inc. * |
|
136,816 |
10,885 |
|
Trimble Navigation Ltd. * |
|
283,119 |
1,830 |
|
Waters Corp. * |
|
183,092 |
|
|
|
|
1,073,718 |
|
|
ENVIRONMENTAL CONTROL - 1.3 % |
|
|
1,830 |
|
Mine Safety Appliances Co. |
|
85,186 |
3,510 |
|
Waste Connections, Inc. |
|
144,401 |
|
|
|
|
229,587 |
|
|
HEALTHCARE-PRODUCTS - 4.7 % |
|
|
2,200 |
|
Bruker Corp. * |
|
35,530 |
945 |
|
Cyberonics, Inc. * |
|
49,102 |
6,500 |
|
Globus Medical, Inc. - Cl. A * |
|
109,590 |
1,455 |
|
HeartWare International, Inc. * |
|
138,385 |
900 |
|
ICU Medical, Inc. * |
|
64,854 |
4,900 |
|
Luminex Corp. * |
|
100,989 |
1,227 |
|
Sirona Dental Systems, Inc. * |
|
80,835 |
1,262 |
|
Syneron Medical Ltd. * |
|
10,979 |
3,945 |
|
Tornier NV * |
|
69,038 |
4,900 |
|
Trinity Biotech PLC |
|
82,565 |
2,000 |
|
Volcano Corp. * |
|
36,260 |
2,700 |
|
Wright Medical Group, Inc. * |
|
70,767 |
|
|
|
|
848,894 |
|
|
HEALTHCARE-SERVICES - 1.3 % |
|
|
6,525 |
|
ICON PLC * |
|
231,181 |
|
|
|
|
|
|
|
HOME BUILDERS - 0.6 % |
|
|
5,030 |
|
DR Horton, Inc. |
|
107,038 |
|
|
|
|
|
|
|
INSURANCE - 2.0 % |
|
|
20,908 |
|
Radian Group, Inc. |
|
242,951 |
3,840 |
|
XL Group PLC |
|
116,429 |
|
|
|
|
359,380 |
|
|
INTERNET - 0.8 % |
|
|
435 |
|
Equinix, Inc. * |
|
80,353 |
2,685 |
|
TIBCO Software, Inc. * |
|
57,459 |
|
|
|
|
137,812 |
|
|
LEISURE TIME - 0.6 % |
|
|
3,335 |
|
Brunswick Corp/DE |
|
106,553 |
|
|
|
|
|
|
|
MACHINERY-DIVERSIFIED - 1.2 % |
|
|
1,650 |
|
Flowserve Corp. |
|
89,116 |
1,900 |
|
Nordson Corp. |
|
131,689 |
|
|
|
|
220,805 |
|
|
MISCELLANEOUS MANUFACTURING - 2.4 % |
|
|
2,675 |
|
Actuant Corp. |
|
88,195 |
5,800 |
|
Hexcel Corp. * |
|
197,490 |
3,960 |
|
Trimas Corp. * |
|
147,629 |
|
|
|
|
433,314 |
|
|
OIL & GAS - 5.5 % |
|
|
4,725 |
|
Approach Resources, Inc. * |
|
116,093 |
1,240 |
|
Cabot Oil & Gas Corp. |
|
88,065 |
1,675 |
|
Concho Resources, Inc. * |
|
140,231 |
13,575 |
|
Denbury Resources, Inc. * |
|
235,119 |
3,940 |
|
Gulfport Energy Corp. * |
|
185,456 |
15,175 |
|
Kodiak Oil & Gas Corp. * |
|
134,906 |
5,399 |
|
Rex Energy Corp. * |
|
94,914 |
|
|
|
|
994,784 |
|
|
OIL & GAS SERVICES - 0.6 % |
|
|
1,500 |
|
Oceaneering International, Inc. |
|
108,300 |
|
|
|
|
|
|
|
PHARMACEUTICALS - 2.5 % |
|
|
12,777 |
|
Akorn, Inc. * |
|
172,745 |
5,100 |
|
Array BioPharma, Inc. * |
|
23,154 |
1,600 |
|
BioMarin Pharmaceutical, Inc. * |
|
89,264 |
4,425 |
|
Infinity Pharmaceuticals, Inc. * |
|
71,906 |
1,900 |
|
ViroPharma, Inc. * |
|
54,435 |
2,775 |
|
Vivus, Inc. * |
|
34,910 |
|
|
|
|
446,414 |
|
|
REAL ESTATE - 0.9 % |
|
|
9,250 |
|
HFF, Inc. - Cl. A |
|
164,372 |
|
|
|
|
|
|
|
RETAIL - 14.8 % |
|
|
10,395 |
|
Del Frisco's Restaurant Group, Inc. * |
|
222,557 |
2,495 |
|
Dick's Sporting Goods, Inc. |
|
124,900 |
3,099 |
|
Domino's Pizza, Inc. |
|
180,207 |
4,780 |
|
Express, Inc. * |
|
100,237 |
3,320 |
|
Francesca's Holdings Corp. * |
|
92,263 |
1,600 |
|
Genesco, Inc. * |
|
107,184 |
7,550 |
|
GNC Holdings, Inc. - Cl. A |
|
333,785 |
6,555 |
|
Group 1 Automotive, Inc. |
|
421,683 |
1,605 |
|
Hibbett Sports, Inc. * |
|
89,077 |
7,395 |
|
Krispy Kreme Doughnuts, Inc. * |
|
129,043 |
1,425 |
|
Mattress Firm Holding Corp. * |
|
57,427 |
1,700 |
|
MSC Industrial Direct Co., Inc. |
|
131,682 |
4,450 |
|
Pier 1 Imports, Inc. |
|
104,531 |
9,250 |
|
Rush Enterprises, Inc. * |
|
228,938 |
2,475 |
|
Sonic Corp. * |
|
36,036 |
4,650 |
|
Stage Stores, Inc. |
|
109,275 |
3,235 |
|
Williams-Sonoma, Inc. |
|
180,804 |
|
|
|
|
2,649,629 |
|
|
SEMICONDUCTORS - 5.2 % |
|
|
6,645 |
|
Fairchild Semiconductor International, Inc. - Cl. A * |
|
91,701 |
3,414 |
|
MaxLinear, Inc. - Cl. A * |
|
23,898 |
3,845 |
|
MKS Instruments, Inc. |
|
102,046 |
13,625 |
|
ON Semiconductor Corp. * |
|
110,090 |
13,150 |
|
Semtech Corp. * |
|
460,645 |
3,710 |
|
Ultratech, Inc. * |
|
136,231 |
|
|
|
|
924,611 |
|
|
SOFTWARE - 5.1 % |
|
|
2,765 |
|
Aspen Technology, Inc. * |
|
79,604 |
2,880 |
|
Fair Isaac Corp. |
|
131,990 |
3,500 |
|
Informatica Corp. * |
|
122,430 |
785 |
|
Interactive Intelligence Group, Inc. * |
|
40,506 |
6,965 |
|
MedAssets, Inc. * |
|
123,559 |
10,970 |
|
PTC, Inc. * |
|
269,094 |
3,125 |
|
SS&C Technologies Holdings, Inc. * |
|
102,813 |
1,585 |
|
Synchronoss Technologies, Inc. * |
|
48,929 |
|
|
|
|
918,925 |
|
|
TELECOMMUNICATIONS - 2.1 % |
|
|
6,950 |
|
Aruba Networks, Inc. * |
|
106,752 |
5,085 |
|
Finisar Corp. * |
|
86,191 |
6,265 |
|
Polycom, Inc. * |
|
66,033 |
5,075 |
|
West Corp. |
|
112,361 |
|
|
|
|
371,337 |
|
|
TRANSPORTATION - 3.1 % |
|
|
2,485 |
|
Genesee & Wyoming, Inc. * |
|
210,827 |
8,415 |
|
Old Dominion Freight Line, Inc. * |
|
350,232 |
|
|
|
|
561,059 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $15,112,524) |
|
17,476,230 |
|
|
|
|
|
|
|
REITS - 0.1 % |
|
|
1,275 |
|
Lexington Realty Trust (Cost $14,442) |
|
14,892 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 2.9 % |
|
|
515,887 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $515,887) |
|
515,887 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.3 % (Cost $15,642,853)(B) |
$ 18,007,009 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3) % |
(59,124) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 17,947,885 |
|
|
|
|
|
* Non-income producing securities. | ||||
REIT - Real Estate Investment Trust. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $15,721,962 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation |
$ 2,547,057 | |
|
|
Unrealized depreciation |
(262,010) | |
|
|
Net unrealized appreciation |
$ 2,285,047 |
Timothy Plan Conservative Growth Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| MUTUAL FUNDS - 99.9 % (A) |
|
|
|
| ASSET ALLOCATION FUND - 18.0 % |
|
|
860,264 |
| Timothy Plan Defensive Strategies Fund |
|
$ 9,505,914 |
|
|
|
|
|
|
| DEBT FUND - 37.3 % |
|
|
1,462,492 |
| Timothy Plan Fixed Income Fund |
|
15,224,541 |
478,548 |
| Timothy Plan High Yield Bond Fund |
|
4,455,286 |
|
|
|
|
19,679,827 |
|
| EQUITY FUND - 44.6 % |
|
|
146,833 |
| Timothy Plan Aggressive Growth Fund * |
|
1,190,812 |
164,139 |
| Timothy Plan Emerging Markets Fund * |
|
1,598,714 |
331,678 |
|
Timothy Plan International Fund |
|
2,653,421 |
179,161 |
|
Timothy Plan Israel Common Values Fund * |
|
2,067,513 |
771,855 |
|
Timothy Plan Large/Mid Cap Growth Fund |
|
5,951,006 |
425,349 |
|
Timothy Plan Large/Mid-Cap Value Fund |
|
7,286,231 |
153,069 |
|
Timothy Plan Small-Cap Value Fund |
|
2,788,923 |
|
|
|
|
23,536,620 |
|
|
|
|
|
|
|
TOTAL MUTUAL FUNDS (Cost $48,728,038) |
|
52,722,361 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 0.3 % |
|
|
153,673 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (B) |
| |
|
|
(Cost $153,673) |
|
153,673 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.2 % (Cost $48,881,711)(C) |
$ 52,876,034 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2) % |
(98,513) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 52,777,521 |
|
|
|
|
|
* Non-income producing securities. | ||||
(A) Affiliated Funds - Class A. | ||||
(B) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(C) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $47,183,940 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation |
$ 6,621,660 | |
|
|
Unrealized depreciation |
(929,566) | |
|
|
Net unrealized appreciation |
$ 5,692,094 |
Timothy Plan Defensive Strategies Fund | ||||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||||
June 30, 2013 | ||||||
Shares |
|
|
|
|
|
Value |
|
|
|
|
|
|
|
|
| COMMON STOCK - 24.2 % |
|
|
|
|
|
| AGRICULTURE - 0.6 % |
|
|
|
|
6,088 |
| Bunge Ltd. |
|
|
|
$ 430,848 |
|
|
|
|
|
|
|
|
| CHEMICALS - 7.2 % |
|
|
|
|
3,996 |
| Agrium, Inc. |
|
|
|
347,492 |
959 |
| American Vanguard Corp. |
|
|
|
22,469 |
4,448 |
| CF Industries Holdings, Inc. |
|
|
|
762,832 |
5,759 |
| Intrepid Potash, Inc. |
|
|
|
109,709 |
7,983 |
| K+S AG |
|
|
|
294,739 |
10,698 |
| Mosaic Co./The |
|
|
|
575,659 |
32,771 |
|
Potash Corp. of Saskatchewan, Inc. |
|
|
|
1,249,558 |
3,862 |
|
Sociedad Quimica y Minera de Chile SA - ADR |
|
|
|
156,025 |
18,774 |
|
Syngenta AG |
|
|
|
1,461,744 |
10,796 |
|
Uralkali OJSC |
|
|
|
361,341 |
|
|
|
|
|
|
5,341,568 |
|
|
COAL - 0.0 % |
|
|
|
|
1,103 |
|
Peabody Energy Corp. |
|
|
|
16,148 |
|
|
|
|
|
|
|
|
|
FOOD - 0.3 % |
|
|
|
|
3,387 |
|
Ingredion, Inc. |
|
|
|
222,255 |
|
|
|
|
|
|
|
|
|
IRON/STEEL - 0.5 % |
|
|
|
|
2,356 |
|
Allegheny Technologies, Inc. |
|
|
|
61,986 |
1 |
|
JFE Holdings, Inc. |
|
|
|
22 |
9,828 |
|
Nippon Steel & Sumitomo Metal Corp. |
|
|
|
26,525 |
979 |
|
POSCO - ADR |
|
|
|
63,713 |
11,215 |
|
Severstal OAO |
|
|
|
71,674 |
2,358 |
|
ThyssenKrupp AG |
|
|
|
46,265 |
6,234 |
|
Vale SA |
|
|
|
81,977 |
|
|
|
|
|
|
352,162 |
|
|
MACHINERY-DIVERSIFIED - 0.5 % |
|
|
|
|
6,646 |
|
AGCO Corp. |
|
|
|
333,563 |
605 |
|
CNH Global NV |
|
|
|
25,204 |
|
|
|
|
|
|
358,767 |
|
|
MINING - 3.4 % |
|
|
|
|
3,102 |
|
Allied Nevada Gold Corp. |
|
|
|
20,101 |
7,252 |
|
Anglo American PLC |
|
|
|
139,304 |
82 |
|
AngloGold Ashanti Ltd. |
|
|
|
1,173 |
2,159 |
|
Antofagasta PLC |
|
|
|
26,043 |
11,543 |
|
Barrick Gold Corp. |
|
|
|
181,687 |
234 |
|
BHP Billiton PLC |
|
|
|
11,997 |
451 |
|
Cameco Corp. |
|
|
|
9,318 |
8,295 |
|
Cia de Minas Buenaventura SAA - ADR |
|
|
|
122,434 |
1,877 |
|
Coeur Mining Inc. |
|
|
|
24,964 |
7,567 |
|
Eldorado Gold Corp. |
|
|
|
46,764 |
1,199 |
|
First Quantum Minerals Ltd. |
|
|
|
17,729 |
12,994 |
|
Freeport-McMoRan Copper & Gold, Inc. |
|
|
|
358,764 |
54,923 |
|
Glencore Xstrata PLC |
|
|
|
226,795 |
909 |
|
Goldcorp Inc. |
|
|
|
22,480 |
7,047 |
|
Harmony Gold Mining Co. Ltd. |
|
|
|
26,849 |
5,932 |
|
Hecla Mining Co. |
|
|
|
17,677 |
6,495 |
|
IAMGOLD Corp. |
|
|
|
28,123 |
549 |
|
Kazakhmys PLC |
|
|
|
2,155 |
39,028 |
|
Kinross Gold Corp. |
|
|
|
199,043 |
5,670 |
|
MMC Norilsk Nickel OJSC |
|
|
|
81,478 |
4,211 |
|
New Gold, Inc. |
|
|
|
27,035 |
8,197 |
|
Newmont Mining Corp. |
|
|
|
245,500 |
359 |
|
Pan American Silver Corp. |
|
|
|
4,179 |
746 |
|
Randgold Resources Ltd. - ADR |
|
|
|
47,744 |
6,310 |
|
Rio Tinto PLC |
|
|
|
259,215 |
136 |
|
Royal Gold, Inc. |
|
|
|
5,723 |
8,490 |
|
Silver Wheaton Corp. |
|
|
|
166,998 |
5,122 |
|
Southern Copper Corp. |
|
|
|
141,470 |
1,646 |
|
Sterlite Industries India Ltd. |
|
|
|
9,613 |
7,265 |
|
Yamana Gold, Inc. |
|
|
|
69,090 |
|
|
|
|
|
|
2,541,445 |
|
|
OIL & GAS - 9.8 % |
|
|
|
|
492 |
|
Anadarko Petroleum Corp. |
|
|
|
42,278 |
5,352 |
|
Apache Corp. |
|
|
|
448,658 |
23,465 |
|
BG Group PLC |
|
|
|
398,225 |
1,428 |
|
Canadian Natural Resources Ltd. |
|
|
|
40,355 |
901 |
|
Chesapeake Energy Corp. |
|
|
|
18,362 |
5,403 |
|
ConocoPhillips |
|
|
|
326,882 |
2,644 |
|
Devon Energy Corp. |
|
|
|
137,171 |
1,870 |
|
Encana Corp. |
|
|
|
31,678 |
1,233 |
|
Ensco PLC |
|
|
|
71,662 |
384 |
|
EOG Resources, Inc. |
|
|
|
50,565 |
20,058 |
|
Exxon Mobil Corp. |
|
|
|
1,812,240 |
76 |
|
Inpex Corp. |
|
|
|
316,858 |
8,352 |
|
Lukoil OAO |
|
|
|
479,405 |
14,378 |
|
Marathon Oil Corp. |
|
|
|
497,191 |
647 |
|
Noble Energy, Inc. |
|
|
|
38,846 |
4,297 |
|
NovaTek OAO |
|
|
|
513,492 |
4,215 |
|
Occidental Petroleum Corp. |
|
|
|
376,104 |
14,022 |
|
Petroleo Brasileiro SA - ADR |
|
|
|
188,035 |
244 |
|
Pioneer Natural Resources Co. |
|
|
|
35,319 |
5,915 |
|
Reliance Industries Ltd. * |
|
|
|
170,293 |
26,168 |
|
Rosneft OAO - ADR |
|
|
|
179,251 |
2,812 |
|
Southwestern Energy Co. |
|
|
|
102,722 |
14,122 |
|
Total SA |
|
|
|
688,433 |
2,350 |
|
Transocean Ltd. |
|
|
|
112,682 |
5,633 |
|
Valero Energy Corp. |
|
|
|
195,859 |
|
|
|
|
|
|
7,272,566 |
|
|
OIL & GAS SERVICES - 1.6 % |
|
|
|
|
2,827 |
|
Baker Hughes, Inc. |
|
|
|
130,410 |
2,899 |
|
Cameron International Corp. |
|
|
|
177,303 |
14,031 |
|
Halliburton Co. |
|
|
|
585,373 |
4,145 |
|
National Oilwell Varco, Inc. |
|
|
|
285,589 |
|
|
|
|
|
|
1,178,675 |
|
|
PIPELINES - 0.3 % |
|
|
|
|
3,591 |
|
Kinder Morgan, Inc./DE |
|
|
|
136,997 |
1,592 |
|
TransCanada Corp. |
|
|
|
68,354 |
|
|
|
|
|
|
205,351 |
|
|
RETAIL - 0.0 % |
|
|
|
|
626 |
|
CST Brands, Inc. |
|
|
|
19,287 |
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $19,351,333) |
|
|
17,939,072 | |
|
|
|
|
|
|
|
|
|
REITS - 29.9 % |
|
|
|
|
5,500 |
|
Acadia Realty Trust |
|
|
|
135,795 |
4,400 |
|
Apartment Investment & Management Co. |
|
|
|
132,176 |
4,850 |
|
AvalonBay Communities, Inc. |
|
|
|
654,314 |
9,500 |
|
Boston Properties, Inc. |
|
|
|
1,001,965 |
11,800 |
|
Brandywine Realty Trust |
|
|
|
159,536 |
6,000 |
|
BRE Properties, Inc. |
|
|
|
300,120 |
5,700 |
|
Camden Property Trust |
|
|
|
394,098 |
14,300 |
|
CBL & Associates Properties, Inc. |
|
|
|
306,306 |
12,800 |
|
Colonial Properties Trust |
|
|
|
308,736 |
34,300 |
|
DDR Corp. |
|
|
|
571,095 |
43,800 |
|
DiamondRock Hospitality Co. |
|
|
|
408,216 |
4,790 |
|
Digital Realty Trust, Inc. |
|
|
|
292,190 |
11,400 |
|
Douglas Emmett, Inc. |
|
|
|
284,430 |
18,300 |
|
Education Realty Trust, Inc. |
|
|
|
187,209 |
2,600 |
|
Equity Lifestyle Properties, Inc. |
|
|
|
204,334 |
18,000 |
|
Equity Residential |
|
|
|
1,045,080 |
3,450 |
|
Essex Property Trust, Inc. |
|
|
|
548,274 |
8,600 |
|
Extra Space Storage, Inc. |
|
|
|
360,598 |
2,800 |
|
Federal Realty Investment Trust |
|
|
|
290,304 |
11,100 |
|
FelCor Lodging Trust, Inc. |
|
|
|
65,601 |
20,700 |
|
First Industrial Realty Trust, Inc. |
|
|
|
314,019 |
8,200 |
|
First Potomac Realty Trust |
|
|
|
107,092 |
19,500 |
|
HCP Inc. |
|
|
|
886,080 |
9,600 |
|
Health Care REIT, Inc. |
|
|
|
643,488 |
6,000 |
|
Highwoods Properties, Inc. |
|
|
|
213,660 |
22,400 |
|
Hospitality Properties Trust |
|
|
|
588,672 |
6,100 |
|
Kilroy Realty Corp. |
|
|
|
323,361 |
29,800 |
|
Kimco Realty Corp. |
|
|
|
638,614 |
26,200 |
|
Lexington Realty Trust |
|
|
|
306,016 |
12,100 |
|
Liberty Property Trust |
|
|
|
447,216 |
15,363 |
|
Macerich Co./The |
|
|
|
936,682 |
7,600 |
|
National Retail Properties, Inc. |
|
|
|
261,440 |
23,694 |
|
Prologis, Inc. |
|
|
|
893,738 |
4,400 |
|
PS Business Parks, Inc. |
|
|
|
317,548 |
6,900 |
|
Public Storage |
|
|
|
1,057,977 |
4,500 |
|
Rayonier, Inc. |
|
|
|
249,255 |
4,100 |
|
Regency Centers Corp. |
|
|
|
208,321 |
15,729 |
|
Simon Property Group, Inc. |
|
|
|
2,483,924 |
9,050 |
|
SL Green Realty Corp. |
|
|
|
798,119 |
30,000 |
|
Strategic Hotels & Resorts, Inc. |
|
|
|
265,800 |
8,000 |
|
Summit Hotel Properties, Inc. |
|
|
|
75,600 |
6,300 |
|
Taubman Centers, Inc. |
|
|
|
473,445 |
15,700 |
|
UDR, Inc. |
|
|
|
400,193 |
14,659 |
|
Ventas, Inc. |
|
|
|
1,018,214 |
6,600 |
|
Washington Real Estate Investment Trust |
|
|
|
177,606 |
11,100 |
|
Weingarten Realty Investors |
|
|
|
341,547 |
|
|
|
|
|
|
|
|
|
TOTAL REITs (Cost $19,836,104) |
|
|
|
22,078,004 |
|
|
|
|
|
|
|
|
|
EXCHANGE TRADED FUNDS - 8.7 % |
|
|
|
|
|
|
COMMODITY FUND - 8.7 % |
|
|
|
|
35,800 |
|
iShares Silver Trust |
|
|
|
679,126 |
61,300 |
|
PowerShares DB Agriculture Fund |
|
|
|
1,526,983 |
33,800 |
|
PowerShares DB Base Metals Fund |
|
|
|
546,208 |
29,300 |
|
PowerShares DB Commodity Index Tracking Fund |
|
|
736,309 | |
28,000 |
|
PowerShares DB Energy Fund |
|
|
|
761,600 |
18,250 |
|
SPDR Gold Shares |
|
|
|
2,174,488 |
|
|
|
|
|
|
|
|
|
TOTAL EXCHANGE TRADED FUNDS (Cost $7,948,710) |
|
6,424,714 | ||
|
|
|
|
|
|
|
Par Value |
|
|
|
Coupon Rate (%) |
Maturity |
|
|
|
BONDS & NOTES - 32.8 % |
|
|
|
|
|
|
GOVERNMENT MORTGAGE-BACKED SECURITIES - 1.8 % |
|
|
| |
$ 639,620 |
|
Ginnie Mae II pool |
|
4.5000 | 10/20/2041 |
$ 682,497 |
603,926 |
|
Ginnie Mae II pool |
|
5.0000 | 2/20/2041 |
654,176 |
|
|
|
|
|
|
1,336,673 |
|
|
HAND/MACHINE TOOLS - 0.7 % |
|
|
|
|
500,000 |
|
Kennametal, Inc. |
|
3.8750 | 2/15/2022 |
484,826 |
|
|
|
|
|
|
|
|
|
OIL & GAS - 0.7 % |
|
|
|
|
500,000 |
|
Petrobras International Finance Co. - Pifco |
|
3.5000 | 2/6/2017 |
498,799 |
|
|
|
|
|
|
|
|
|
PIPELINES - 0.8 % |
|
|
|
|
500,000 |
|
Energy Transfer Partners LP |
|
6.7000 | 7/1/2018 |
587,811 |
|
|
|
|
|
|
|
|
|
REITS - 0.6 % |
|
|
|
|
500,000 |
|
Health Care REIT, Inc. |
|
3.7500 | 3/15/2023 |
473,587 |
|
|
|
|
|
|
|
|
|
TREASURY INFLATION PROTECTED SECURITIES (TIPS) - 28.2 % |
|
|
| |
4,870,000 |
|
United States TIPS |
|
1.1250 | 1/15/2021 |
5,543,139 |
300,000 |
|
United States TIPS |
|
1.6250 | 1/15/2018 |
364,281 |
2,685,000 |
|
United States TIPS |
|
1.7500 | 1/15/2028 |
3,345,533 |
3,245,000 |
|
United States TIPS |
|
2.0000 | 1/15/2014 |
4,143,339 |
745,000 |
|
United States TIPS |
|
2.0000 | 1/15/2016 |
938,149 |
1,550,000 |
|
United States TIPS |
|
2.1250 | 1/15/2019 |
1,900,119 |
1,125,000 |
|
United States TIPS |
|
2.1250 | 2/15/2041 |
1,451,531 |
1,050,000 |
|
United States TIPS |
|
2.3750 | 1/15/2017 |
1,342,945 |
1,350,000 |
|
United States TIPS |
|
2.5000 | 1/15/2029 |
1,806,534 |
|
|
|
|
|
|
20,835,570 |
|
|
|
|
|
|
|
|
|
TOTAL BONDS & NOTES (Cost $24,725,168) |
|
|
24,217,266 | |
Shares |
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 7.0 % |
|
|
|
|
5,205,130 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
|
|
| |
|
|
(Cost $5,205,130) |
|
|
|
5,205,130 |
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 102.6 % (Cost $77,066,445)(B) |
|
|
$ 75,864,186 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (2.6) % |
(2,023,307) | |||
|
|
TOTAL NET ASSETS - 100.0% |
|
|
|
$ 73,840,879 |
|
|
|
|
|
|
|
* Non-income producing securities. |
|
|
|
| ||
REIT - Real Estate Investment Trust. | ||||||
(ADR) American Depositary Receipt. |
|
|
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. |
|
|
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $76,662,047 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||||
|
|
|
Unrealized appreciation |
$ 5,557,511 | ||
|
|
|
Unrealized depreciation |
(6,355,372) | ||
|
|
|
Net unrealized depreciation |
$ (797,861) |
Timothy Plan Emerging Markets Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 85.8 % |
|
|
|
| AEROSPACE/DEFENSE - 3.8 % |
|
|
8,400 |
| Embraer SA - ADR |
|
$ 309,876 |
|
|
|
|
|
|
| AGRICULTURE - 0.8 % |
|
|
9,840 |
| Adecoagro SA * |
|
61,500 |
|
|
|
|
|
|
| AIRLINES - 1.2 % |
|
|
339,645 |
| Air Arabia PJSC |
|
98,022 |
|
|
|
|
|
|
| AUTO MANUFACTURERS - 4.5 % |
|
|
210 |
|
Hyundai Motor Co. |
|
41,464 |
3,780 |
|
Hyundai Motor Co. |
|
321,051 |
|
|
|
|
362,515 |
|
|
AUTO PARTS & EQUIPMENT - 2.6 % |
|
|
4,270 |
|
China Yuchai International Ltd. |
|
75,280 |
560 |
|
Hyundai Mobis |
|
133,863 |
|
|
|
|
209,143 |
|
|
BANKS - 14.3 % |
|
|
19,800 |
|
Banco do Brasil SA |
|
198,090 |
8,530 |
|
Banco Latinoamericano de Comercio Exterior SA |
|
190,987 |
26,140 |
|
Banco Santander Brasil SA/Brazil |
|
162,591 |
6,600 |
|
Erste Group Bank AG |
|
175,906 |
16,210 |
|
Sberbank of Russia * |
|
186,091 |
28,750 |
|
Turkiye Garanti Bankasi AS |
|
125,460 |
50,300 |
|
Turkiye Vakiflar Bankasi Tao |
|
125,391 |
|
|
|
|
1,164,516 |
|
|
BUILDING MATERIALS - 4.4 % |
|
|
19,060 |
|
Cemex SAB de CV * |
|
201,655 |
145,724 |
|
Desarrolladora Homex SAB de CV * |
|
91,227 |
373,450 |
|
Urbi Desarrollos Urbanos SAB de CV * |
|
67,902 |
|
|
|
|
360,784 |
|
|
CHEMICALS - 3.1 % |
|
|
276,000 |
|
Yingde Gases Group Co. Ltd. |
|
254,785 |
|
|
|
|
|
|
|
COMPUTERS - 1.6 % |
|
|
233,000 |
|
Compal Electronics, Inc. |
|
130,947 |
|
|
|
|
|
|
|
DISTRIBUTION/WHOLESALE - 1.5 % |
|
|
27,350 |
|
Aygaz AS |
|
125,587 |
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 6.2 % |
|
|
5,270 |
|
Hana Financial Group, Inc. |
|
153,431 |
5,030 |
|
KB Financial Group, Inc. |
|
150,628 |
6,100 |
|
Shinhan Financial Group Co. Ltd. |
|
200,830 |
|
|
|
|
504,889 |
|
|
ELECTRIC - 6.3 % |
|
|
10,480 |
|
Cia Paranaense de Energia - ADR |
|
130,162 |
15,250 |
|
Reliance Infrastructure Ltd. |
|
259,250 |
83,880 |
|
RusHydro Management Co. * |
|
122,465 |
|
|
|
|
511,877 |
|
|
ELECTRONICS - 3.6 % |
|
|
37,540 |
|
Flextronics International Ltd. * |
|
290,560 |
|
|
|
|
|
|
|
FOOD - 5.3 % |
|
|
172,000 |
|
First Pacific Co. Ltd/Hong Kong |
|
184,281 |
90 |
|
Lotte Confectionery Co. Ltd. |
|
126,640 |
37,200 |
|
Marfrig Alimentos SA * |
|
124,000 |
|
|
|
|
434,921 |
|
|
HOLDING COMPANIES-DIVERSIFIED - 0.5 % |
|
|
7,260 |
|
Haw Par Corp. Ltd. |
|
41,389 |
|
|
|
|
|
|
|
INTERNET - 2.0 % |
|
|
14,030 |
|
AsiaInfo-Linkage, Inc. * |
|
161,906 |
|
|
|
|
|
|
|
IRON/STEEL - 5.4 % |
|
|
1,250 |
|
POSCO |
|
326,712 |
4,990 |
|
Ternium SA - ADR |
|
112,924 |
|
|
|
|
439,636 |
|
|
OIL & GAS - 7.2 % |
|
|
5,724 |
|
Lukoil OAO |
|
329,989 |
17,200 |
|
Petroleo Brasileiro SA |
|
252,152 |
|
|
|
|
582,141 |
|
|
PHARMACEUTICALS - 0.7 % |
|
|
60,860 |
|
Selcuk Ecza Deposu Ticaret ve Sanayi A.S. |
|
57,406 |
|
|
|
|
|
|
|
RETAIL - 2.6 % |
|
|
998,000 |
|
Bosideng International Holdings Ltd. |
|
208,447 |
|
|
|
|
|
|
|
SEMICONDUCTORS - 2.4 % |
|
|
168 |
|
Samsung Electronics Co. Ltd. |
|
197,412 |
|
|
|
|
|
|
|
TELECOMMUNICATIONS - 5.0 % |
|
|
7,270 |
|
Telefonica Brasil SA |
|
165,901 |
13,100 |
|
Tim Participacoes SA |
|
243,660 |
|
|
|
|
409,561 |
|
|
TEXTILES - 0.8 % |
|
|
103,000 |
|
Weiqiao Textile Co. |
|
61,883 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $7,416,053) |
|
6,979,703 |
|
|
|
|
|
|
|
REITS - 1.1 % |
|
|
26,700 |
|
Fibra Uno Administracion SA de CV - REIT |
|
|
|
|
(Cost $69,814) |
|
89,126 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 14.3 % |
|
|
1,166,853 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $1,166,853) |
|
1,166,853 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 101.2 % (Cost $8,652,720)(B) |
$ 8,235,682 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.2) % |
(99,881) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 8,135,801 |
|
|
|
|
|
* Non-income producing securities. | ||||
(ADR) American Depositary Receipt. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $8,652,720 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation |
$ 363,559 | |
|
|
Unrealized depreciation |
(780,597) | |
|
|
Net unrealized depreciation |
$ (417,038) |
Timothy Plan Fixed Income Fund | ||||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||||
June 30, 2013 | ||||||
|
|
|
|
|
|
|
Par Value |
|
|
|
Coupon Rate (%) |
Maturity |
Value |
|
|
|
|
|
|
|
|
| BONDS & NOTES - 95.6 % |
|
|
|
|
|
| AUTO PARTS & EQUIPMENT - 1.0 % |
|
|
|
|
$ 750,000 |
| Johnson Controls Inc. |
| 5.0000 | 3/30/2020 |
$ 824,884 |
|
|
|
|
|
|
|
|
| BANKS - 1.3 % |
|
|
|
|
1,000,000 |
|
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands | 2.1250 | 10/13/2015 |
1,023,606 | |
|
|
|
|
|
|
|
|
| ELECTRIC - 2.3 % |
|
|
|
|
987,086 |
| John Sevier Combined Cycle Generation LLC |
| 4.6260 | 1/15/2042 |
1,039,787 |
750,000 |
| Nisource Finance Corp. |
| 5.4000 | 7/15/2014 |
784,019 |
|
|
|
|
|
|
1,823,806 |
|
|
ENGINEERING & CONSTRUCTION - 1.2 % |
|
|
| |
1,000,000 |
|
ABB Finance USA Inc. |
|
2.8750 | 5/8/2022 |
957,647 |
|
|
|
|
|
|
|
|
|
GOVERNMENT MORTGAGE-BACKED SECURITIES - 31.8 % |
|
|
| |
4,245,471 |
|
Ginnie Mae I pool |
|
3.5000 | 3/15/2043 |
4,379,246 |
1,441,250 |
|
Ginnie Mae I pool |
|
4.0000 | 8/15/2040 |
1,519,608 |
2,070,308 |
|
Ginnie Mae I pool |
|
4.5000 | 6/15/2039 |
2,211,390 |
1,496,627 |
|
Ginnie Mae I pool |
|
4.5000 | 10/15/2040 |
1,589,283 |
581,006 |
|
Ginnie Mae I pool |
|
4.5000 | 5/15/2041 |
617,927 |
13,616 |
|
Ginnie Mae I pool |
|
5.0000 | 1/15/2018 |
14,656 |
17,342 |
|
Ginnie Mae I pool |
|
5.0000 | 2/15/2018 |
18,705 |
16,566 |
|
Ginnie Mae I pool |
|
5.0000 | 2/15/2018 |
17,868 |
247,445 |
|
Ginnie Mae I pool |
|
5.5000 | 4/15/2033 |
272,461 |
62,167 |
|
Ginnie Mae I pool |
|
6.0000 | 12/15/2031 |
70,011 |
174,584 |
|
Ginnie Mae I pool |
|
6.5000 | 1/15/2037 |
198,809 |
12,409 |
|
Ginnie Mae I pool |
|
5.0000 | 3/15/2018 |
13,385 |
2,810,741 |
|
Ginnie Mae II pool |
|
3.5000 | 7/20/2042 |
2,889,210 |
2,906,767 |
|
Ginnie Mae II pool |
|
4.0000 | 6/20/2042 |
3,059,745 |
639,620 |
|
Ginnie Mae II pool |
|
4.5000 | 10/20/2041 |
682,497 |
423,549 |
|
Ginnie Mae II pool |
|
5.0000 | 12/20/2037 |
460,706 |
1,407,642 |
|
Ginnie Mae II pool |
|
5.0000 | 8/20/2039 |
1,551,740 |
886,684 |
|
Ginnie Mae II pool |
|
5.0000 | 9/20/2039 |
966,833 |
1,596,821 |
|
Ginnie Mae II pool |
|
5.0000 | 2/20/2041 |
1,729,687 |
337,952 |
|
Ginnie Mae II pool |
|
5.5000 | 5/20/2035 |
370,914 |
464,455 |
|
Ginnie Mae II pool |
|
5.5000 | 1/20/2038 |
510,247 |
149,308 |
|
Ginnie Mae II pool |
|
6.0000 | 2/20/2035 |
172,710 |
286,116 |
|
Ginnie Mae II pool |
|
6.0000 | 6/20/2036 |
317,304 |
60,041 |
|
Ginnie Mae II pool |
|
6.0000 | 7/20/2034 |
67,118 |
145,891 |
|
Ginnie Mae II pool |
|
6.5000 | 9/20/2034 |
164,219 |
444,195 |
|
Ginnie Mae II pool |
|
6.0000 | 10/20/2034 |
494,133 |
172,928 |
|
Ginnie Mae II pool |
|
5.5000 | 11/20/2034 |
190,892 |
282,907 |
|
Ginnie Mae II pool |
|
5.5000 | 1/20/2035 |
312,413 |
201,013 |
|
Ginnie Mae II pool |
|
6.0000 | 10/20/2036 |
222,838 |
|
|
|
|
|
|
25,086,555 |
|
|
GOVERNMENT NOTES & BONDS - 28.1 % |
|
|
| |
1,500,000 |
|
Federal Farm Credit Banks |
|
4.8750 | 1/17/2017 |
1,704,846 |
2,500,000 |
|
Federal Farm Credit Banks |
|
5.1250 | 8/25/2016 |
2,834,985 |
1,000,000 |
|
Federal Home Loan Banks |
|
5.0000 | 11/17/2017 |
1,149,225 |
9,000,000 |
|
United States Treasury Note/Bond |
|
3.1250 | 5/15/2021 |
9,659,180 |
2,000,000 |
|
United States Treasury Note/Bond |
|
3.8750 | 5/15/2018 |
2,241,172 |
2,500,000 |
|
United States Treasury Note/Bond |
|
4.5000 | 2/15/2036 |
2,979,590 |
1,550,000 |
|
United States Treasury Note/Bond |
|
4.7500 | 5/15/2014 |
1,611,455 |
|
|
|
|
|
|
22,180,453 |
|
|
HAND/MACHINE TOOLS - 1.2 % |
|
|
|
|
1,000,000 |
|
Kennametal Inc. |
|
3.8750 | 2/15/2022 |
969,652 |
|
|
|
|
|
|
|
|
|
HEALTHCARE-PRODUCTS - 0.7 % |
|
|
|
|
500,000 |
|
Covidien International Finance SA |
|
2.8000 | 6/15/2015 |
517,757 |
|
|
|
|
|
|
|
|
|
INSURANCE - 1.1 % |
|
|
|
|
750,000 |
|
Willis North America Inc. |
|
6.2000 | 3/28/2017 |
835,938 |
|
|
|
|
|
|
|
|
|
IRON/STEEL - 0.9 % |
|
|
|
|
750,000 |
|
Cliffs Natural Resources Inc. |
|
4.8750 | 4/1/2021 |
680,794 |
|
|
|
|
|
|
|
|
|
MINING - 1.6 % |
|
|
|
|
750,000 |
|
Rio Tinto Finance USA Ltd. |
|
2.5000 | 5/20/2016 |
768,340 |
500,000 |
|
Teck Resources Ltd. |
|
6.0000 | 8/15/2040 |
467,073 |
|
|
|
|
|
|
1,235,413 |
|
|
MISCELLANEOUS MANUFACTURING - 1.6 % |
|
|
| |
325,000 |
|
Eaton Corp. |
|
5.6000 | 5/15/2018 |
372,358 |
750,000 |
|
Tyco Electronics Group SA |
|
6.5500 | 10/1/2017 |
869,070 |
|
|
|
|
|
|
1,241,428 |
|
|
OIL & GAS - 6.1 % |
|
|
|
|
750,000 |
|
Husky Energy Inc. |
|
3.9500 | 4/15/2022 |
758,962 |
750,000 |
|
Marathon Oil Corp. |
|
6.0000 | 10/1/2017 |
859,689 |
1,000,000 |
|
Petrobras International Finance Co. - Pifco |
|
3.5000 | 2/6/2017 |
997,597 |
1,000,000 |
|
Phillips 66 |
|
2.9500 | 5/1/2017 |
1,028,242 |
500,000 |
|
Transocean Inc. |
|
6.0000 | 3/15/2018 |
559,553 |
500,000 |
|
Valero Energy Corp. |
|
6.6250 | 6/15/2037 |
576,417 |
|
|
|
|
|
|
4,780,460 |
|
|
OIL & GAS SERVICES - 2.4 % |
|
|
|
|
1,000,000 |
|
Cameron International Corp. |
|
6.3750 | 7/15/2018 |
1,174,040 |
750,000 |
|
Weatherford International Ltd/Bermuda |
|
4.9500 | 10/15/2013 |
758,072 |
|
|
|
|
|
|
1,932,112 |
|
|
PIPELINES - 7.1 % |
|
|
|
|
1,000,000 |
|
Boardwalk Pipelines LP |
|
5.7500 | 9/15/2019 |
1,108,620 |
1,000,000 |
|
Energy Transfer Partners LP |
|
6.7000 | 7/1/2018 |
1,175,622 |
500,000 |
|
Enterprise Products Operating LLC |
|
6.1250 | 10/15/2039 |
557,945 |
750,000 |
|
Kinder Morgan Energy Partners LP |
|
5.1250 | 11/15/2014 |
792,649 |
500,000 |
|
ONEOK Inc. |
|
4.2500 | 2/1/2022 |
490,098 |
500,000 |
|
ONEOK Inc. |
|
5.2000 | 6/15/2015 |
531,697 |
1,000,000 |
|
Plains All American Pipeline LP / PAA Finance Corp. | 3.6500 | 6/1/2022 |
983,990 | |
|
|
|
|
|
|
5,640,621 |
|
|
REITS - 3.9 % |
|
|
|
|
900,000 |
|
ERP Operating LP |
|
5.1250 | 3/15/2016 |
988,523 |
1,000,000 |
|
Health Care REIT Inc. |
|
3.7500 | 3/15/2023 |
947,173 |
1,000,000 |
|
Simon Property Group LP |
|
6.1250 | 5/30/2018 |
1,177,529 |
|
|
|
|
|
|
3,113,225 |
|
|
SEMICONDUCTORS - 2.2 % |
|
|
|
|
1,000,000 |
|
Altera Corp. |
|
1.7500 | 5/15/2017 |
989,694 |
740,000 |
|
Analog Devices Inc. |
|
3.0000 | 4/15/2016 |
773,581 |
|
|
|
|
|
|
1,763,275 |
|
|
TRANSPORTATION - 1.1 % |
|
|
|
|
750,000 |
|
Canadian National Railway Co. |
|
5.8000 | 6/1/2016 |
846,344 |
|
|
|
|
|
|
|
|
|
TOTAL BONDS & NOTES (Cost $75,057,600) |
|
|
75,453,970 | |
|
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 4.9 % |
|
|
|
|
3,832,253 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
|
| ||
|
|
(Cost $3,832,253) |
|
|
|
3,832,253 |
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.5 % (Cost $78,889,853)(B) |
|
|
$ 79,286,223 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.5) % |
|
|
(381,958) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
|
|
$ 78,904,265 |
|
|
|
|
|
|
|
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is 78,889,853 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||||
|
|
|
|
Unrealized appreciation |
$ 2,130,173 | |
|
|
|
|
Unrealized depreciation |
(1,733,803) | |
|
|
|
|
Net unrealized appreciation |
$ 396,370 |
Timothy Plan High Yield Bond Fund | ||||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||||
June 30, 2013 | ||||||
Par Value |
|
|
|
Coupon Rate (%) |
Maturity |
Value |
|
|
|
|
|
|
|
|
| BONDS & NOTES - 91.2 % |
|
|
|
|
|
| AUTO MANUFACTURERS - 1.4 % |
|
|
|
|
500,000 |
| Jaguar Land Rover Automotive PLC * |
| 8.1250 | 5/15/2021 |
$ 543,125 |
449,000 |
| Navistar International Corp |
| 8.2500 | 11/1/2021 |
443,388 |
|
|
|
|
|
|
986,513 |
|
| AUTO PARTS & EQUIPMENT - 1.5 % |
|
|
|
|
500,000 |
| Schaeffler Finance BV * |
| 8.5000 | 2/15/2019 |
560,000 |
|
|
|
|
|
|
|
|
| BANKS - 1.4 % |
|
|
|
|
500,000 |
| Macquarie Bank Ltd. * |
| 6.6250 | 4/7/2021 |
529,859 |
|
|
|
|
|
|
|
|
| BUILDING MATERIALS - 4.2 % |
|
|
|
|
500,000 |
| Cemex Finance LLC * |
|
9.5000 | 12/14/2016 |
531,250 |
500,000 |
| Gibraltar Industries Inc. * |
|
6.2500 | 2/1/2021 |
505,000 |
500,000 |
| USG Corp. |
|
9.7500 | 1/15/2018 |
570,000 |
|
|
|
|
|
|
1,606,250 |
|
| CHEMICALS - 1.4 % |
|
|
|
|
500,000 |
| PolyOne Corp. |
|
7.3750 | 9/15/2020 |
542,500 |
|
|
|
|
|
|
|
|
| COAL - 2.8 % |
|
|
|
|
500,000 |
| Cloud Peak Energy Resources LLC / Cloud Peak Energy Finance Corp. | 8.5000 | 12/15/2019 |
535,000 | |
500,000 |
| SunCoke Energy Inc. |
|
7.6250 | 8/1/2019 |
521,250 |
|
|
|
|
|
|
1,056,250 |
|
| COMMERCIAL SERVICES - 3.3 % |
|
|
|
|
500,000 |
| FTI Consulting Inc. * |
|
6.0000 | 11/15/2022 |
505,625 |
250,000 |
| RR Donnelley & Sons Co. |
|
7.2500 | 5/15/2018 |
260,000 |
500,000 |
| ServiceMaster Co./TN |
|
8.0000 | 2/15/2020 |
499,375 |
|
|
|
|
|
|
1,265,000 |
|
| DISTRIBUTION/WHOLESALE - 0.3 % |
|
|
|
|
125,000 |
| LKQ Corp. * |
|
4.7500 | 5/15/2023 |
119,688 |
|
|
|
|
|
|
|
|
| ELECTRIC - 1.4 % |
|
|
|
|
500,000 |
| NRG Energy Inc. |
|
7.6250 | 1/15/2018 |
537,500 |
|
|
|
|
|
|
|
|
| ELECTRICAL COMPONENTS & EQUIPMENT - 2.0 % |
|
|
| |
500,000 |
| Anixter Inc. |
|
5.6250 | 5/1/2019 |
517,500 |
250,000 |
| General Cable Corp. * |
|
5.7500 | 10/1/2022 |
245,000 |
|
|
|
|
|
|
762,500 |
|
| ELECTRONICS - 2.6 % |
|
|
|
|
500,000 |
| Jabil Circuit Inc. |
|
4.7000 | 9/15/2022 |
483,750 |
500,000 |
| Sanmina Corp. * |
|
7.0000 | 5/15/2019 |
517,500 |
|
|
|
|
|
|
1,001,250 |
|
| FOOD - 2.6 % |
|
|
|
|
250,000 |
| Hawk Acquisition Sub Inc. * |
|
4.2500 | 10/15/2020 |
239,688 |
500,000 |
| Land O' Lakes Inc. * |
|
6.0000 | 11/15/2022 |
515,000 |
250,000 |
| Pinnacle Foods Finance LLC / Pinnacle Foods Finance Corp. * | 4.8750 | 5/1/2021 |
239,375 | |
|
|
|
|
|
|
994,063 |
|
| HAND/MACHINE TOOLS - 1.4 % |
|
|
|
|
500,000 |
| Mcron Finance Sub LLC / Mcron Finance Corp. * | 8.3750 | 5/15/2019 |
512,500 | |
|
|
|
|
|
|
|
|
| HEALTHCARE-PRODUCTS - 2.6 % |
|
|
|
|
450,000 |
| Biomet Inc. |
|
6.5000 | 8/1/2020 |
462,375 |
500,000 |
| Hologic Inc. |
|
6.2500 | 8/1/2020 |
517,500 |
|
|
|
|
|
|
979,875 |
|
| HEALTHCARE-SERVICES - 1.3 % |
|
|
|
|
500,000 |
| Kindred Healthcare Inc. |
|
8.2500 | 6/1/2019 |
506,250 |
|
|
|
|
|
|
|
|
| HOUSEHOLD PRODUCTS/WARES - 1.4 % |
|
|
| |
500,000 |
| Reynolds Group Issuer Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu | 9.0000 | 4/15/2019 |
518,750 | |
|
|
|
|
|
|
|
|
| INSURANCE - 1.4 % |
|
|
|
|
500,000 |
| QBE Capital Funding III Ltd. * |
|
7.2500 | 5/24/2041 |
528,794 |
|
|
|
|
|
|
|
|
| INTERNET - 1.3 % |
|
|
|
|
500,000 |
| VeriSign Inc. * |
|
4.6250 | 5/1/2023 |
487,500 |
|
|
|
|
|
|
|
|
| IRON/STEEL - 4.2 % |
|
|
|
|
500,000 |
| ArcelorMittal |
|
6.7500 | 2/25/2022 |
515,000 |
500,000 |
| Cliffs Natural Resources Inc. |
|
3.9500 | 1/15/2018 |
475,797 |
100,000 |
| Steel Dynamics Inc. * |
|
5.2500 | 4/15/2023 |
98,250 |
500,000 |
| United States Steel Corp. |
|
7.5000 | 3/15/2022 |
493,750 |
|
|
|
|
|
|
1,582,797 |
|
| MINING - 2.6 % |
|
|
|
|
500,000 |
| Eldorado Gold Corp. * |
|
6.1250 | 12/15/2020 |
485,000 |
500,000 |
| FMG Resources August 2006 Pty Ltd. * |
|
7.0000 | 11/1/2015 |
507,500 |
|
|
|
|
|
|
992,500 |
|
| MISCELLANEOUS MANUFACTURING - 2.7 % |
|
|
| |
500,000 |
| Actuant Corp. |
|
5.6250 | 6/15/2022 |
506,250 |
250,000 |
| Bombardier Inc. * |
|
6.1250 | 1/15/2023 |
249,375 |
250,000 |
| Polypore International Inc. |
|
7.5000 | 11/15/2017 |
261,875 |
|
|
|
|
|
|
1,017,500 |
|
| OIL & GAS - 11.9 % |
|
|
|
|
500,000 |
| Calumet Specialty Products Partners LP/Calumet Finance Corp. | 9.3750 | 5/1/2019 |
537,500 | |
500,000 |
| Comstock Resources Inc. |
|
8.3750 | 10/15/2017 |
522,500 |
100,000 |
| Concho Resources Inc. |
|
5.5000 | 4/1/2023 |
99,000 |
200,000 |
| Continental Resources Inc./OK * |
|
4.5000 | 4/15/2023 |
194,750 |
500,000 |
| EV Energy Partners LP / EV Energy Finance Corp. | 8.0000 | 4/15/2019 |
496,875 | |
500,000 |
| Forest Oil Corp. |
|
7.2500 | 6/15/2019 |
472,500 |
500,000 |
| OGX Austria GmbH * |
|
8.3750 | 4/1/2022 |
147,500 |
500,000 |
| Pacific Drilling SA * |
|
5.3750 | 6/1/2020 |
468,750 |
500,000 |
| Resolute Energy Corp. |
|
8.5000 | 5/1/2020 |
510,625 |
500,000 |
| Samson Investment Co. * |
|
10.0000 | 2/15/2020 |
529,375 |
500,000 |
| Tesoro Corp. |
|
5.3750 | 10/1/2022 |
508,750 |
|
|
|
|
|
|
4,488,125 |
|
| OIL & GAS SERVICES - 7.1 % |
|
|
|
|
500,000 |
| Basic Energy Services Inc. |
|
7.7500 | 2/15/2019 |
492,500 |
500,000 |
| Calfrac Holdings LP * |
|
7.5000 | 12/1/2020 |
497,500 |
320,000 |
| FTS International Services LLC / FTS International Bonds Inc. * | 8.1250 | 11/15/2018 |
333,600 | |
289,000 |
| Helix Energy Solutions Group Inc. * |
|
9.5000 | 1/15/2016 |
297,164 |
500,000 |
| Hornbeck Offshore Services Inc. * |
|
5.0000 | 3/1/2021 |
470,000 |
500,000 |
| ION Geophysical Corp. * |
|
8.1250 | 5/15/2018 |
471,250 |
100,000 |
| Oil States International Inc. * |
|
5.1250 | 1/15/2023 |
104,250 |
|
|
|
|
|
|
2,666,264 |
|
| PACKAGING & CONTAINERS - 2.4 % |
|
|
|
|
250,000 |
| Ball Corp. |
|
4.0000 | 11/15/2023 |
230,937 |
500,000 |
| Sealed Air Corp. * |
|
5.2500 | 4/1/2023 |
483,125 |
200,000 |
| Sealed Air Corp. * |
|
6.5000 | 12/1/2020 |
211,750 |
|
|
|
|
|
|
925,812 |
|
| PHARMACEUTICALS - 2.8 % |
|
|
|
|
500,000 |
| Hypermarcas SA * |
|
6.5000 | 4/20/2021 |
507,500 |
500,000 |
| Omnicare Inc. |
|
7.7500 | 6/1/2020 |
550,000 |
|
|
|
|
|
|
1,057,500 |
|
| PIPELINES - 10.4 % |
|
|
|
|
500,000 |
| Atlas Pipeline Partners LP / Atlas Pipeline Finance Corp. * | 5.8750 | 8/1/2023 |
477,500 | |
500,000 |
| Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. * | 7.7500 | 4/1/2019 |
512,500 | |
500,000 |
| Crosstex Energy LP / Crosstex Energy Finance Corp. | 8.8750 | 2/15/2018 |
532,500 | |
500,000 |
| DCP Midstream LLC * |
|
5.8500 | 5/21/2043 |
482,500 |
500,000 |
| Energy Transfer Equity LP |
|
7.5000 | 10/15/2020 |
548,750 |
500,000 |
| Genesis Energy LP / Genesis Energy Finance Corp. * | 5.7500 | 2/15/2021 |
486,875 | |
500,000 |
| Inergy Midstream LP / NRGM Finance Corp. * | 6.0000 | 12/15/2020 |
485,000 | |
250,000 |
| SemGroup LP * |
|
7.5000 | 6/15/2021 |
253,750 |
500,000 |
| Targa Resources Partners LP / Targa Resources Partners Finance Corp. * | 4.2500 | 11/15/2023 |
448,750 | |
250,000 |
| Tesoro Logistics LP / Tesoro Logistics Finance Corp. * | 5.8750 | 10/1/2020 |
247,500 | |
|
|
|
|
|
|
4,475,625 |
|
| REITS - 3.2 % |
|
|
|
|
125,000 |
| Corrections Corp. of America * |
|
4.1250 | 4/1/2020 |
120,781 |
200,000 |
| Geo Group Inc./The * |
|
5.1250 | 4/1/2023 |
191,500 |
500,000 |
| MPT Operating Partnership LP / MPT Finance Corp. | 6.8750 | 5/1/2021 |
532,500 | |
325,000 |
| Sabra Health Care LP / Sabra Capital Corp. |
|
8.1250 | 11/1/2018 |
350,187 |
|
|
|
|
|
|
1,194,968 |
|
| RETAIL - 1.4 % |
|
|
|
|
500,000 |
| AmeriGas Finance LLC / AmeriGas Finance Corp. | 7.0000 | 5/20/2022 |
513,750 | |
|
|
|
|
|
|
|
|
| SEMICONDUCTORS - 0.3 % |
|
|
|
|
100,000 |
| NXP BV / NXP Funding LLC * |
|
5.7500 | 2/15/2021 |
101,250 |
|
|
|
|
|
|
|
|
| SOFTWARE - 1.4 % |
|
|
|
|
500,000 |
| MedAssets Inc. |
|
8.0000 | 11/15/2018 |
532,500 |
|
|
|
|
|
|
|
|
| TELECOMMUNICATIONS - 5.2 % |
|
|
|
|
500,000 |
| CommScope Inc. * |
|
8.2500 | 1/15/2019 |
531,875 |
500,000 |
| Digicel Ltd. * |
|
6.0000 | 4/15/2021 |
475,000 |
500,000 |
| Millicom International Cellular SA * |
|
4.7500 | 5/22/2020 |
476,875 |
500,000 |
| VimpelCom Holdings BV * |
|
5.9500 | 2/13/2023 |
470,000 |
|
|
|
|
|
|
1,953,750 |
|
| TRANSPORTATION - 1.3 % |
|
|
|
|
500,000 |
| Martin Midstream Partners LP / Martin Midstream Finance Corp. * | 7.2500 | 2/15/2021 |
503,750 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL BONDS & NOTES (Cost $35,559,827) |
|
|
35,501,133 | |
|
|
|
|
|
|
|
|
| MONEY MARKET FUND - 4.0 % |
|
|
|
|
1,516,699 |
| Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
|
|
| |
|
| (Cost $1,516,699) |
|
|
|
1,516,699 |
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS - 95.2 % (Cost $37,076,526)(B) |
|
|
$ 37,017,832 | |
|
| ASSETS IN EXCESS OF OTHER LIABILITIES - 4.8 % |
|
|
791,727 | |
|
| TOTAL NET ASSETS - 100.0% |
|
|
|
$ 37,809,559 |
|
|
|
|
|
|
|
* 144A Security - Security exempt from registration under Rule 144A of the Securities Act of 1933. The 144A securities represent 50.0% of total net assets. The securities may be resold in transactions exempt from registration typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid. | ||||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. |
|
| ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is substantially the same and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||||
|
|
|
|
Unrealized appreciation |
$ 869,270 | |
|
|
|
|
Unrealized depreciation |
(927,964) | |
|
|
|
|
Net unrealized depreciation |
$ (58,694) |
Timothy Plan Israel Common Values Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 94.5 % |
|
|
|
| AEROSPACE/DEFENSE - 3.1 % |
|
|
7,001 |
| Elbit Systems Ltd. |
|
$ 294,602 |
|
|
|
|
|
|
| BANKS - 11.8 % |
|
|
13,400 |
| Bank Hapoalim BM * |
|
304,314 |
65,000 |
| Bank Leumi Le-Israel BM * |
|
216,083 |
19,300 |
| First International Bank Of Israel Ltd. |
|
274,457 |
120,000 |
| Israel Discount Bank Ltd. * |
|
201,440 |
11,000 |
| Mizrahi Tefahot Bank Ltd. * |
|
110,308 |
|
|
|
|
1,106,602 |
|
|
CHEMICALS - 4.5 % |
|
|
17,000 |
|
Frutarom Industries Ltd. |
|
256,602 |
16,400 |
|
Israel Chemicals Ltd. |
|
161,868 |
|
|
|
|
418,470 |
|
|
COMMERCIAL SERVICES - 3.2 % |
|
|
25,000 |
|
Nitsba Holdings 1995 Ltd. * |
|
298,025 |
|
|
|
|
|
|
|
ELECTRONICS - 4.8 % |
|
|
18,130 |
|
Camtek Ltd/Israel * |
|
43,512 |
12,296 |
|
Ituran Location and Control Ltd. |
|
207,434 |
16,300 |
|
Orbotech Ltd. * |
|
202,772 |
|
|
|
|
453,718 |
|
|
ENERGY-ALTERNATE SOURCES - 2.8 % |
|
|
47,300 |
|
Ormat Industries * |
|
260,814 |
|
|
|
|
|
|
|
FOOD - 7.9 % |
|
|
13,000 |
|
Osem Investments Ltd. |
|
271,443 |
5,700 |
|
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. |
|
264,657 |
59,000 |
|
Shufersal Ltd. |
|
209,267 |
|
|
|
|
745,367 |
|
|
HEALTHCARE-PRODUCTS - 3.5 % |
|
|
13,000 |
|
Given Imaging Ltd. * |
|
182,130 |
17,000 |
|
Syneron Medical Ltd. * |
|
147,900 |
|
|
|
|
330,030 |
|
|
HOME BUILDERS - 2.4 % |
|
|
1,000 |
|
Bayside Land Corp. |
|
225,644 |
|
|
|
|
|
|
|
HOUSEHOLD PRODUCTS/WARES - 2.0 % |
|
|
2,600 |
|
SodaStream International Ltd. * |
|
188,890 |
|
|
|
|
|
|
|
INTERNET - 3.5 % |
|
|
7,600 |
|
magicJack VocalTec Ltd. * |
|
107,844 |
19,000 |
|
Perion Network Ltd. * |
|
217,550 |
|
|
|
|
325,394 |
|
|
INVESTMENT COMPANIES - 2.6 % |
|
|
400 |
|
Israel Corp. Ltd/The * |
|
240,673 |
|
|
|
|
|
|
|
OIL&GAS - 12.1 % |
|
|
38,000 |
|
Delek Drilling - LP * |
|
157,228 |
1,536,664 |
|
Isramco Negev 2 LP * |
|
261,754 |
4,400 |
|
Noble Energy, Inc. |
|
264,176 |
355,000 |
|
Oil Refineries Ltd. * |
|
158,588 |
1,900 |
|
Paz Oil Co. Ltd. * |
|
294,934 |
|
|
|
|
1,136,680 |
|
|
REAL ESTATE - 16.6 % |
|
|
28,000 |
|
Alony Hetz Properties & Investments Ltd. |
|
175,779 |
86,000 |
|
Amot Investments Ltd. |
|
224,912 |
7,500 |
|
Azrieli Group |
|
222,540 |
17,000 |
|
Gazit-Globe Ltd. |
|
221,853 |
120,000 |
|
Industrial Buildings Corp. |
|
187,263 |
40,000 |
|
Jerusalem Economy Ltd. |
|
286,170 |
11,366 |
|
Melisron Ltd. |
|
239,657 |
|
|
|
|
1,558,174 |
|
|
SEMICONDUCTORS - 2.1 % |
|
|
4,000 |
|
Mellanox Technologies Ltd. * |
|
198,000 |
|
|
|
|
|
|
|
SOFTWARE - 4.7 % |
|
|
45,400 |
|
Magic Software Enterprises Ltd. |
|
244,706 |
14,500 |
|
RADWARE Ltd. * |
|
199,955 |
|
|
|
|
444,661 |
|
|
TELECOMMUNICATIONS - 6.9 % |
|
|
7,500 |
|
EZchip Semiconductor Ltd. * |
|
202,425 |
6,500 |
|
NICE Systems Ltd. - ADR |
|
239,785 |
32,500 |
|
Partner Communications Co. Ltd. - ADR |
|
203,775 |
|
|
|
|
645,985 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $7,715,961) |
|
8,871,729 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 5.7 % |
|
|
537,650 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $537,650) |
|
537,650 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.2 % (Cost $8,253,613)(B) |
$ 9,409,379 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2) % |
(16,852) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 9,392,527 |
|
|
|
|
|
* Non-income producing securities. | ||||
(ADR) American Depositary Receipt. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $8,216,278 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
|
|
|
|
Unrealized appreciation |
$ 1,327,162 | |
|
|
Unrealized depreciation |
(134,061) | |
|
|
Net unrealized appreciation |
$ 1,193,101 |
Timothy Plan International Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 93.8 % |
|
|
|
| AIRLINES - 1.8 % |
|
|
5,100 |
| Copa Holdings SA - Cl. A |
|
$ 668,712 |
|
|
|
|
|
|
| AUTO MANUFACTURERS - 0.9 % |
|
|
47,000 |
| Fiat SpA * |
|
331,115 |
|
|
|
|
|
|
| AUTO PARTS & EQUIPMENT - 4.9 % |
|
|
11,800 |
| Magna International, Inc. |
|
840,396 |
30,000 |
| Valeo SA |
|
944,700 |
|
|
|
|
1,785,096 |
|
|
BANKS - 11.1% |
|
|
15,000 |
|
Banco Bilbao Vizcaya Argentaria SA |
|
126,150 |
16,000 |
|
Bank Hapoalim BM * |
|
363,360 |
107,000 |
|
Bank of East Asia Ltd. |
|
391,620 |
20,139 |
|
DBS Group Holdings Ltd. |
|
985,703 |
57,000 |
|
Sberbank of Russia * |
|
654,360 |
94,700 |
|
Sumitomo Mitsui Financial Group, Inc. |
|
873,134 |
30,100 |
|
Swedbank AB |
|
693,203 |
|
|
|
|
4,087,530 |
|
|
BUILDING MATERIALS - 1.4 % |
|
|
34,000 |
|
Lafarge SA |
|
514,760 |
|
|
|
|
|
|
|
CHEMICALS - 3.9 % |
|
|
8,300 |
|
Agrium, Inc. |
|
721,768 |
9,000 |
|
Syngenta AG |
|
700,740 |
|
|
|
|
1,422,508 |
|
|
COSMETICS/PERSONAL CARE - 1.2 % |
|
|
12,700 |
|
Kao Corp. |
|
436,499 |
|
|
|
|
|
|
|
DISTRIBUTION/WHOLESALE - 2.4 % |
|
|
37,000 |
|
ITOCHU Corp. |
|
860,620 |
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 2.9 % |
|
|
15,700 |
|
ORIX Corp. |
|
1,072,781 |
|
|
|
|
|
|
|
ELECTRIC - 0.9 % |
|
|
38,900 |
|
Power Assets Holdings Ltd. |
|
335,318 |
|
|
|
|
|
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 1.6 % |
| |
9,000 |
|
Hitachi Ltd. |
|
581,040 |
|
|
|
|
|
|
|
ENGINEERING & CONSTRUCTION - 1.4 % |
|
|
40,000 |
|
Vinci SA |
|
502,400 |
|
|
|
|
|
|
|
FOOD - 7.3 % |
|
|
14,000 |
|
Kerry Group PLC |
|
770,560 |
16,000 |
|
Marine Harvest ASA |
|
323,680 |
10,500 |
|
Seven & I Holdings Co. Ltd. |
|
767,025 |
40,000 |
|
WM Morrison Supermarkets PLC |
|
800,000 |
|
|
|
|
2,661,265 |
|
|
HAND/MACHINE TOOLS - 1.2 % |
|
|
38,000 |
|
Techtronic Industries Co. |
|
454,100 |
|
|
|
|
|
|
|
HEALTHCARE-PRODUCTS - 3.2 % |
|
|
21,000 |
|
Smith & Nephew PLC |
|
1,177,890 |
|
|
|
|
|
|
|
HEALTHCARE-SERVICES - 2.9 % |
|
|
30,000 |
|
Fresenius Medical Care AG & Co. KGaA |
|
1,058,100 |
|
|
|
|
|
|
|
HOME BUILDERS - 1.5 % |
|
|
39,000 |
|
Sekisui House Ltd. |
|
563,940 |
|
|
|
|
|
|
|
HOUSEHOLD PRODUCTS/WARES - 4.1 % |
|
|
19,000 |
|
Henkel AG & Co. KGaA |
|
1,490,930 |
|
|
|
|
|
|
|
INSURANCE - 7.2 % |
|
|
85,000 |
|
Aegon NV |
|
574,600 |
19,500 |
|
Ageas |
|
684,255 |
31,200 |
|
Muenchener Rueckversicherungs AG |
|
574,080 |
31,000 |
|
Zurich Insurance Group AG |
|
807,240 |
|
|
|
|
2,640,175 |
|
|
MACHINERY-CONSTRUCTION & MINING - 1.4 % |
|
|
24,000 |
|
Atlas Copco AB |
|
514,800 |
|
|
|
|
|
|
|
MACHINERY-DIVERSIFIED - 0.6 % |
|
|
5,000 |
|
CNH Global NV |
|
208,300 |
|
|
|
|
|
|
|
METAL FABRICATE/HARDWARE - 1.0 % |
|
|
18,000 |
|
Assa Abloy AB |
|
352,980 |
|
|
|
|
|
|
|
MINING - 1.3 % |
|
|
9,000 |
|
BHP Billiton PLC |
|
461,430 |
|
|
|
|
|
|
|
MISCELLANEOUS MANUFACTURING - 2.6 % |
|
|
34,050 |
|
FUJIFILM Holdings Corp. |
|
749,100 |
35,000 |
|
Vesuvius PLC |
|
195,139 |
|
|
|
|
944,239 |
|
|
OFFICE/BUSINESS EQUIPMENT - 1.6 % |
|
|
18,000 |
|
Canon, Inc. |
|
591,660 |
|
|
|
|
|
|
|
OIL & GAS - 7.0 % |
|
|
50,000 |
|
Afren PLC * |
|
491,226 |
14,000 |
|
Lukoil OAO |
|
807,100 |
35,368 |
|
Statoil ASA - ADR |
|
731,764 |
11,000 |
|
Transocean Ltd. |
|
527,450 |
|
|
|
|
2,557,540 |
|
|
OIL & GAS SERVICES - 1.1 % |
|
|
23,500 |
|
Subsea 7 SA |
|
417,947 |
|
|
|
|
|
|
|
PACKAGING & CONTAINERS - 1.4 % |
|
|
13,680 |
|
Rexam PLC |
|
499,457 |
|
|
|
|
|
|
|
PHARMACEUTICALS - 2.2 % |
|
|
8,300 |
|
Shire PLC |
|
789,413 |
|
|
|
|
|
|
|
SOFTWARE - 0.6 % |
|
|
3,000 |
|
Open Text Corp. |
|
205,410 |
|
|
|
|
|
|
|
TELECOMMUNICATIONS - 9.5 % |
|
|
15,000 |
|
Globe Telecom, Inc. |
|
559,028 |
16,000 |
|
Nippon Telegraph & Telephone Corp. |
|
416,160 |
9,500 |
|
Philippine Long Distance Telephone Co. |
|
644,670 |
47,500 |
|
Singapore Telecommunications Ltd. |
|
1,410,750 |
16,852 |
|
Softbank Corp. |
|
489,888 |
|
|
|
|
3,520,496 |
|
|
TRANSPORTATION - 1.7 % |
|
|
5,000 |
|
Canadian Pacific Railway Ltd. |
|
606,900 |
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $29,067,984) |
|
34,315,351 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 6.0 % |
|
|
2,210,775 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $2,210,775) |
|
2,210,775 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.8 % (Cost $31,278,759)(B) |
$ 36,526,126 | |
|
|
ASSETS IN EXCESS OF OTHER LIABILITIES - 0.2 % |
63,052 | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 36,589,178 |
|
|
|
|
|
* Non-income producing securities. | ||||
(ADR) American Depositary Receipt. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $31,151,249 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation |
$ 6,452,184 | |
|
|
Unrealized depreciation |
(1,077,307) | |
|
|
Net unrealized appreciation |
$ 5,374,877 |
Timothy Plan Large/Mid Cap Growth | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 94.6 % |
|
|
|
| AEROSPACE/DEFENSE - 3.4 % |
|
|
10,450 |
| B/E Aerospace, Inc. * |
|
$ 659,186 |
13,145 |
| General Dynamics Corp. |
|
1,029,648 |
|
|
|
|
1,688,834 |
|
| APPAREL - 4.0 % |
|
|
10,375 |
| Carter's, Inc. |
|
768,476 |
12,570 |
| Hanesbrands, Inc. |
|
646,349 |
3,130 |
| VF Corp. |
|
604,278 |
|
|
|
|
2,019,103 |
|
| BANKS - 5.6 % |
|
|
22,585 |
|
BB&T Corp. |
|
765,180 |
19,095 |
|
CIT Group, Inc. * |
|
890,400 |
82,750 |
|
Huntington Bancshares, Inc./OH |
|
652,070 |
16,330 |
|
Zions Bancorporation |
|
471,610 |
|
|
|
|
2,779,260 |
|
|
BIOTECHNOLOGY - 0.6 % |
|
|
3,425 |
|
Alexion Pharmaceuticals, Inc. * |
|
315,922 |
|
|
|
|
|
|
|
COMMERCIAL SERVICES - 5.4 % |
|
|
5,592 |
|
FleetCor Technologies, Inc. * |
|
454,630 |
12,100 |
|
SEI Investments Co. |
|
344,003 |
4,250 |
|
Team Health Holdings, Inc. * |
|
174,548 |
8,340 |
|
United Rentals, Inc. * |
|
416,249 |
30,370 |
|
Vantiv, Inc. - Cl. A * |
|
838,212 |
8,095 |
|
Verisk Analytics, Inc. - Cl. A * |
|
483,272 |
|
|
|
|
2,710,914 |
|
|
COMPUTERS - 1.4 % |
|
|
4,250 |
|
Cognizant Technology Solutions Corp. - Cl. A * |
|
266,092 |
4,100 |
|
HIS, Inc. - Cl. A * |
|
427,958 |
|
|
|
|
694,050 |
|
|
DISTRIBUTION/WHOLESALE - 1.1 % |
|
|
8,340 |
|
WESCO International, Inc. * |
|
566,786 |
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 3.6 % |
|
|
1,995 |
|
Affiliated Managers Group, Inc. * |
|
327,060 |
9,210 |
|
Discover Financial Services |
|
438,764 |
4,840 |
|
IntercontinentalExchange, Inc. * |
|
860,358 |
1,700 |
|
Lazard Ltd. - Cl. A |
|
54,655 |
4,410 |
|
Lazard Ltd. - Cl. A |
|
141,782 |
|
|
|
|
1,822,619 |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 1.2 % |
| |
8,445 |
|
AMETEK, Inc. |
|
357,223 |
2,255 |
|
Hubbell, Inc. |
|
223,245 |
|
|
|
|
580,468 |
|
|
ELECTRONICS - 10.7 % |
|
|
18,780 |
|
Amphenol Corp. |
|
1,463,713 |
4,550 |
|
FEI Co. |
|
332,104 |
44,700 |
|
Jabil Circuit, Inc. |
|
910,986 |
2,230 |
|
Mettler-Toledo International, Inc. * |
|
448,676 |
14,770 |
|
Thermo Fisher Scientific, Inc. |
|
1,249,985 |
19,645 |
|
Trimble Navigation Ltd. * |
|
510,966 |
4,130 |
|
Waters Corp. * |
|
413,207 |
|
|
|
|
5,329,637 |
|
|
ENTERTAINMENT - 1.2 % |
|
|
22,245 |
|
Cinemark Holdings, Inc. |
|
621,080 |
|
|
|
|
|
|
|
ENVIRONMENTAL CONTROL - 0.9 % |
|
|
11,170 |
|
Waste Connections, Inc. |
|
459,534 |
|
|
|
|
|
|
|
FOOD - 1.4 % |
|
|
6,625 |
|
JM Smucker Co./The |
|
683,369 |
|
|
|
|
|
|
|
HEALTHCARE-PRODUCTS - 3.6 % |
|
|
18,485 |
|
Covidien PLC |
|
1,161,597 |
9,925 |
|
Sirona Dental Systems, Inc. * |
|
653,859 |
|
|
|
|
1,815,456 |
|
|
HEALTHCARE-SERVICES - 0.7 % |
|
|
10,300 |
|
ICON PLC * |
|
364,929 |
|
|
|
|
|
|
|
HOME BUILDERS - 0.7 % |
|
|
15,295 |
|
DR Horton, Inc. |
|
325,478 |
|
|
|
|
|
|
|
INSURANCE - 3.4 % |
|
|
15,020 |
|
ACE Ltd. |
|
1,343,990 |
12,145 |
|
XL Group PLC |
|
368,236 |
|
|
|
|
1,712,226 |
|
|
INTERNET - 0.9 % |
|
|
1,340 |
|
Equinix, Inc. * |
|
247,525 |
8,530 |
|
TIBCO Software, Inc. * |
|
182,542 |
|
|
|
|
430,067 |
|
|
MACHINERY-DIVERSIFIED - 2.6 % |
|
|
5,100 |
|
Flowserve Corp. |
|
275,451 |
6,050 |
|
Nordson Corp. |
|
419,326 |
7,200 |
|
Rockwell Automation, Inc. |
|
598,608 |
|
|
|
|
1,293,385 |
|
|
MINING - 1.5 % |
|
|
28,030 |
|
Freeport-McMoRan Copper & Gold, Inc. |
|
773,908 |
|
|
|
|
|
|
|
MISCELLANEOUS MANUFACTURING - 3.2 % |
|
|
13,125 |
|
Actuant Corp. |
|
432,731 |
18,735 |
|
Danaher Corp. |
|
1,185,925 |
|
|
|
|
1,618,656 |
|
|
OIL & GAS - 9.3 % |
|
|
3,985 |
|
Cabot Oil & Gas Corp. |
|
283,015 |
6,140 |
|
Concho Resources, Inc. * |
|
514,041 |
30,300 |
|
Denbury Resources, Inc. * |
|
524,796 |
18,855 |
|
Exxon Mobil Corp. |
|
1,703,549 |
6,225 |
|
Gulfport Energy Corp. * |
|
293,011 |
15,020 |
|
Occidental Petroleum Corp. |
|
1,340,235 |
|
|
|
|
4,658,647 |
|
|
OIL & GAS SERVICES - 0.7 % |
|
|
4,825 |
|
Oceaneering International, Inc. |
|
348,365 |
|
|
|
|
|
|
|
PHARMACEUTICALS - 1.7 % |
|
|
9,190 |
|
AmerisourceBergen Corp. |
|
513,078 |
6,025 |
|
BioMarin Pharmaceutical, Inc. * |
|
336,135 |
|
|
|
|
849,213 |
|
|
RETAIL - 10.6 % |
|
|
2,475 |
|
AutoZone, Inc. * |
|
1,048,633 |
11,065 |
|
Dick's Sporting Goods, Inc. |
|
553,914 |
4,684 |
|
Domino's Pizza, Inc. |
|
272,375 |
12,925 |
|
GNC Holdings, Inc. - Cl. A |
|
571,414 |
13,150 |
|
Group 1 Automotive, Inc. |
|
845,939 |
16,365 |
|
Lowe's Cos., Inc. |
|
669,329 |
3,400 |
|
MSC Industrial Direct Co., Inc. |
|
263,364 |
10,750 |
|
PetSmart, Inc. |
|
720,143 |
6,600 |
|
Williams-Sonoma, Inc. |
|
368,874 |
|
|
|
|
5,313,985 |
|
|
SEMICONDUCTORS - 8.3 % |
|
|
31,740 |
|
Linear Technology Corp. |
|
1,169,302 |
21,900 |
|
Maxim Integrated Products, Inc. |
|
608,382 |
48,600 |
|
NVIDIA Corp. |
|
681,858 |
41,925 |
|
ON Semiconductor Corp. * |
|
338,754 |
21,150 |
|
Semtech Corp. * |
|
740,885 |
15,300 |
|
Xilinx, Inc. |
|
606,033 |
|
|
|
|
4,145,214 |
|
|
SOFTWARE - 2.7 % |
|
|
19,630 |
|
Informatica Corp. * |
|
686,657 |
27,785 |
|
PTC, Inc. * |
|
681,566 |
|
|
|
|
1,368,223 |
|
|
TELECOMMUNICATIONS - 0.7 % |
|
|
15,970 |
|
West Corp. |
|
353,576 |
|
|
|
|
|
|
|
TRANSPORTATION - 3.5 % |
|
|
4,005 |
|
Genesee & Wyoming, Inc. * |
|
339,784 |
12,180 |
|
Norfolk Southern Corp. |
|
884,877 |
13,215 |
|
Old Dominion Freight Line, Inc. * |
|
550,008 |
|
|
|
|
1,774,669 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $41,231,409) |
|
47,417,573 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 4.9 % |
|
|
2,450,535 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $2,450,535) |
|
2,450,535 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.5 % (Cost $43,681,944)(B) |
$ 49,868,108 | |
|
|
ASSETS IN EXCESS OF OTHER LIABILITIES - 0.5 % |
126,771 | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 49,994,879 |
|
|
|
|
|
*Non-income producing securities. | ||||
(ADR) American Depositary Receipt. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $43,586,533 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation |
$ 6,912,469 |
|
|
|
Unrealized depreciation |
(630,894) |
|
|
|
Net unrealized appreciation |
$ 6,281,575 |
Timothy Plan Large/Mid Cap Value Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 89.9 % |
|
|
|
| AEROSPACE/DEFENSE - 2.2 % |
|
|
37,500 |
| General Dynamics Corp. |
|
$ 2,937,375 |
|
|
|
|
|
|
| AUTO PARTS & EQUIPMENT - 2.0 % |
|
|
30,500 |
| BorgWarner, Inc. * |
|
2,627,575 |
|
|
|
|
|
|
| BANKS - 6.3 % |
|
|
58,700 |
| CIT Group, Inc. * |
|
2,737,181 |
97,200 |
| East West Bancorp, Inc. |
|
2,673,000 |
34,786 |
| SVB Financial Group * |
|
2,898,370 |
|
|
|
|
8,308,551 |
|
|
BEVERAGES - 2.0 % |
|
|
56,900 |
|
Dr Pepper Snapple Group, Inc. |
|
2,613,417 |
|
|
|
|
|
|
|
CHEMICALS - 3.9 % |
|
|
14,400 |
|
Sherwin-Williams Co./The |
|
2,543,040 |
31,400 |
|
Sigma-Aldrich Corp. |
|
2,523,304 |
|
|
|
|
5,066,344 |
|
|
COMPUTERS - 2.8 % |
|
|
58,800 |
|
Western Digital Corp. |
|
3,650,892 |
|
|
|
|
|
|
|
DISTRIBUTION/WHOLESALE - 2.1 % |
|
|
10,700 |
|
WW Grainger, Inc. |
|
2,698,326 |
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 4.4 % |
|
|
34,400 |
|
Eaton Vance Corp. |
|
1,293,096 |
9,400 |
|
Franklin Resources, Inc. |
|
1,278,588 |
59,200 |
|
Invesco Ltd. |
|
1,882,560 |
41,200 |
|
Lazard Ltd. - Cl. A |
|
1,324,580 |
|
|
|
|
5,778,824 |
|
|
ELECTRIC - 3.9 % |
|
|
44,800 |
|
Dominion Resources, Inc./VA |
|
2,545,536 |
31,900 |
|
NextEra Energy, Inc. |
|
2,599,212 |
|
|
|
|
5,144,748 |
|
|
ELECTRONICS - 2.2 % |
|
|
63,500 |
|
TE Connectivity Ltd. |
|
2,891,790 |
|
|
|
|
|
|
|
FOOD - 4.9 % |
|
|
26,100 |
|
JM Smucker Co./The |
|
2,692,215 |
34,900 |
|
McCormick & Co. Inc./MD |
|
2,455,564 |
38,800 |
|
Sysco Corp. |
|
1,325,408 |
|
|
|
|
6,473,187 |
|
|
HEALTHCARE-PRODUCTS - 9.2 % |
|
|
82,300 |
|
CareFusion Corp. * |
|
3,032,755 |
40,500 |
|
Covidien PLC |
|
2,545,020 |
25,000 |
|
CR Bard Inc. |
|
2,717,000 |
28,800 |
|
DENTSPLY International, Inc. |
|
1,179,648 |
38,600 |
|
Varian Medical Systems, Inc. * |
|
2,603,570 |
|
|
|
|
12,077,993 |
|
|
HEALTHCARE-SERVICES - 1.8 % |
|
|
20,000 |
|
DaVita HealthCare Partners, Inc. * |
|
2,416,000 |
|
|
|
|
|
|
|
HOUSEHOLD PRODUCTS/WARES - 1.0 % |
|
|
16,300 |
|
Tupperware Brands Corp. |
|
1,266,347 |
|
|
|
|
|
|
|
INSURANCE - 5.7 % |
|
|
28,700 |
|
ACE Ltd. |
|
2,568,076 |
67,700 |
|
Axis Capital Holdings Ltd. |
|
3,099,306 |
62,100 |
|
Unum Group |
|
1,823,877 |
|
|
|
|
7,491,259 |
|
|
LEISURE TIME - 1.0 % |
|
|
14,400 |
|
Polaris Industries, Inc. |
|
1,368,000 |
|
|
|
|
|
|
|
MACHINERY-DIVERSIFIED - 1.9 % |
|
|
46,200 |
|
Flowserve Corp. |
|
2,495,262 |
|
|
|
|
|
|
|
METAL FABRICATE/HARDWARE - 2.1 % |
|
|
12,300 |
|
Precision Castparts Corp. |
|
2,779,923 |
|
|
|
|
|
|
|
MISCELLANEOUS MANUFACTURING - 1.0 % |
|
|
35,400 |
|
AO Smith Corp. |
|
1,284,312 |
|
|
|
|
|
|
|
OIL & GAS - 10.9 % |
|
|
29,000 |
|
Anadarko Petroleum Corp. |
|
2,491,970 |
18,900 |
|
EQT Corp. |
|
1,500,093 |
41,600 |
|
Exxon Mobil Corp. |
|
3,758,560 |
44,400 |
|
Marathon Oil Corp. |
|
1,535,352 |
14,700 |
|
Marathon Petroleum Corp. |
|
1,044,582 |
32,000 |
|
Oasis Petroleum, Inc. * |
|
1,243,840 |
31,300 |
|
Occidental Petroleum Corp. |
|
2,792,899 |
|
|
|
|
14,367,296 |
|
|
OIL & GAS SERVICES - 0.9 % |
|
|
18,100 |
|
National Oilwell Varco, Inc. |
|
1,247,090 |
|
|
|
|
|
|
|
PACKAGING & CONTAINERS - 1.1 % |
|
|
14,300 |
|
Rock Tenn Co. |
|
1,428,284 |
|
|
|
|
|
|
|
PHARMACEUTICALS - 2.0 % |
|
|
42,700 |
|
Express Scripts Holding Co. * |
|
2,634,163 |
|
|
|
|
|
|
|
RETAIL - 5.6 % |
|
|
41,900 |
|
Advance Auto Parts, Inc. |
|
3,401,023 |
43,700 |
|
Family Dollar Stores, Inc. |
|
2,722,947 |
19,100 |
|
PetSmart, Inc. |
|
1,279,509 |
|
|
|
|
7,403,479 |
|
|
SEMICONDUCTORS - 2.1 % |
|
|
38,900 |
|
Avago Technologies Ltd. |
|
1,454,082 |
35,700 |
|
Microchip Technology, Inc. |
|
1,329,825 |
|
|
|
|
2,783,907 |
|
|
SOFTWARE - 2.6 % |
|
|
118,900 |
|
CA, Inc. |
|
3,404,107 |
|
|
|
|
|
|
|
TEXTILES - 1.9 % |
|
|
22,500 |
|
Mohawk Industries, Inc. * |
|
2,531,025 |
|
|
|
|
|
|
|
TRANSPORTATION - 2.4 % |
|
|
32,700 |
|
Canadian National Railway Co. |
|
3,180,729 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $92,711,003) |
|
118,350,205 |
|
|
|
|
|
|
|
REITs - 7.2 % |
|
|
51,100 |
|
HCP, Inc. |
|
2,321,984 |
17,300 |
|
Public Storage |
|
2,652,609 |
45,300 |
|
Regency Centers Corp. |
|
2,301,693 |
31,500 |
|
Ventas, Inc. |
|
2,187,990 |
|
|
|
|
|
|
|
TOTAL REITs (Cost $7,448,508) |
|
9,464,276 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 2.2 % |
|
|
2,867,032 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $2,867,032) |
|
2,867,032 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.3 % (Cost $103,026,543)(B) |
$ 130,681,513 | |
|
|
ASSETS IN EXCESS OF OTHER LIABILITIES - 0.7 % |
766,433 | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 131,447,946 |
|
|
|
|
|
* Non-income producing securities. |
| |||
REIT - Real Estate Investment Trust. | ||||
(ADR) American Depositary Receipt. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $102,986,572 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation |
$ 28,778,173 |
|
|
|
Unrealized depreciation |
(1,083,232) |
|
|
|
Net unrealized appreciation |
$ 27,694,941 |
Timothy Plan Small Cap Value Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 89.18 % |
|
|
|
| AEROSPACE/DEFENSE - 2.2 % |
|
|
27,700 |
| Moog, Inc. * |
|
$ 1,427,381 |
|
|
|
|
|
|
| APPAREL - 2.1 % |
|
|
24,300 |
| Wolverine World Wide, Inc. |
|
1,327,023 |
|
|
|
|
|
|
| BANKS - 15.4 % |
|
|
15,523 |
| Bancfirst Corp. |
|
722,596 |
98,899 |
| BBCN Bancorp, Inc. |
|
1,406,344 |
48,147 |
| Chemical Financial Corp. |
|
1,251,340 |
57,908 |
|
Columbia Banking System, Inc. |
|
1,378,790 |
63,800 |
|
First Financial Bancorp |
|
950,620 |
61,657 |
|
Pacific Continental Corp. |
|
727,553 |
62,407 |
|
PrivateBancorp, Inc. |
|
1,323,652 |
42,154 |
|
State Bank Financial Corp. |
|
633,575 |
36,254 |
|
Wintrust Financial Corp. |
|
1,387,803 |
|
|
|
|
9,782,273 |
|
|
BUILDING MATERIALS - 4.1 % |
|
|
26,329 |
|
Apogee Enterprises, Inc. |
|
631,896 |
24,050 |
|
Boise Cascade Co. * |
|
611,110 |
28,500 |
|
Trex Co., Inc. * |
|
1,353,465 |
|
|
|
|
2,596,471 |
|
|
COMMERCIAL SERVICES - 2.0 % |
|
|
72,800 |
|
Kelly Services, Inc. |
|
1,271,816 |
|
|
|
|
|
|
|
COMPUTERS - 3.2 % |
|
|
10,534 |
|
CACI International, Inc. - Cl. A * |
|
668,804 |
32,100 |
|
j2 Global, Inc. |
|
1,364,571 |
|
|
|
|
2,033,375 |
|
|
DISTRIBUTION/WHOLESALE - 2.0 % |
|
|
33,100 |
|
Beacon Roofing Supply, Inc. * |
|
1,253,828 |
|
|
|
|
|
|
|
ELECTRIC - 4.3 % |
|
|
27,200 |
|
ALLETE, Inc. |
|
1,355,920 |
34,200 |
|
NorthWestern Corp. |
|
1,364,580 |
|
|
|
|
2,720,500 |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 3.2 % |
| |
13,612 |
|
EnerSys, Inc. |
|
667,533 |
18,645 |
|
Littelfuse, Inc. |
|
1,391,103 |
|
|
|
|
2,058,636 |
|
|
ELECTRONICS - 4.2 % |
|
|
24,527 |
|
Coherent, Inc. |
|
1,350,702 |
29,700 |
|
Watts Water Technologies, Inc. |
|
1,346,598 |
|
|
|
|
2,697,300 |
|
|
ENGINEERING & CONSTRUCTION - 1.0 % |
|
|
29,700 |
|
Foster Wheeler AG * |
|
644,787 |
|
|
|
|
|
|
|
FOOD - 1.2 % |
|
|
9,463 |
|
J&J Snack Foods Corp. |
|
736,221 |
|
|
|
|
|
|
|
FOREST PRODUCTS & PAPER - 2.2 % |
|
|
34,500 |
|
KapStone Paper and Packaging Corp. |
|
1,386,210 |
|
|
|
|
|
|
|
HEALTHCARE-PRODUCTS - 2.0 % |
|
|
41,006 |
|
Given Imaging Ltd. * |
|
574,494 |
25,680 |
|
Orthofix International NV * |
|
690,792 |
|
|
|
|
1,265,286 |
|
|
HOLDING COMPANIES-DIVERSFIED - 2.0 % |
|
|
35,100 |
|
National Bank Holdings Corp. - Cl. A |
|
691,470 |
30,800 |
|
Primoris Services Corp. |
|
607,376 |
|
|
|
|
1,298,846 |
|
|
HOME BUILDERS - 2.1 % |
|
|
27,000 |
|
Thor Industries, Inc. |
|
1,327,860 |
|
|
|
|
|
|
|
HOME FURNISHINGS - 2.0 % |
|
|
62,743 |
|
DTS, Inc./CA * |
|
1,291,251 |
|
|
|
|
|
|
|
INSURANCE - 5.1 % |
|
|
38,046 |
|
AMERISAFE, Inc. |
|
1,232,310 |
29,500 |
|
Employers Holdings, Inc. |
|
721,275 |
12,300 |
|
Endurance Specialty Holdings, Ltd. |
|
632,835 |
14,197 |
|
Safety Insurance Group, Inc. |
|
688,696 |
|
|
|
|
3,275,116 |
|
|
INTERNET - 1.0 % |
|
|
31,509 |
|
CyrusOne, Inc. |
|
653,497 |
|
|
|
|
|
|
|
LEISURE TIME - 1.9 % |
|
|
26,800 |
|
Arctic Cat, Inc. |
|
1,205,464 |
|
|
|
|
|
|
|
MACHINERY-CONSTRUCTION & MINING - 1.0 % |
|
|
10,576 |
|
Hyster-Yale Materials Handling, Inc. |
|
664,067 |
|
|
|
|
|
|
|
MACHINERY-DIVERSIFIED - 3.4 % |
|
|
46,276 |
|
Gorman-Rupp Co./The |
|
1,473,428 |
23,405 |
|
Hurco Cos, Inc. |
|
673,362 |
|
|
|
|
2,146,790 |
|
|
MINING - 1.9 % |
|
|
57,900 |
|
US Silica Holdings, Inc. |
|
1,203,162 |
|
|
|
|
|
|
|
OFFICE FURNISHINGS - 1.1 % |
|
|
48,215 |
|
Knoll, Inc. |
|
685,135 |
|
|
|
|
|
|
|
OIL & GAS - 6.1 % |
|
|
37,612 |
|
Bonanza Creek Energy, Inc. * |
|
1,333,721 |
77,500 |
|
Kodiak Oil & Gas Corp. * |
|
688,975 |
39,800 |
|
Rex Energy Corp. * |
|
699,684 |
158,797 |
|
Synergy Resources Corp. * |
|
1,162,394 |
|
|
|
|
3,884,774 |
|
|
OIL & GAS SERVICES - 2.0 % |
|
|
82,744 |
|
Matrix Service Co. * |
|
1,289,152 |
|
|
|
|
|
|
|
PIPELINES - 1.0 % |
|
|
13,621 |
|
EQT Midstream Partners LP |
|
665,386 |
|
|
|
|
|
|
|
RETAIL - 2.1 % |
|
|
12,400 |
|
Children's Place Retail Stores, Inc./The * |
|
679,520 |
12,300 |
|
Lithia Motors, Inc. |
|
655,713 |
|
|
|
|
1,335,233 |
|
|
SOFTWARE - 3.2 % |
|
|
34,600 |
|
AVG Technologies NV * |
|
672,970 |
65,721 |
|
Omnicell, Inc. * |
|
1,350,566 |
|
|
|
|
2,023,536 |
|
|
TRANSPORTATION - 2.1 % |
|
|
48,600 |
|
Roadrunner Transportation Systems, Inc. * |
|
1,353,024 |
|
|
|
|
|
|
|
TRUCKING & LEASING - 2.0 % |
|
|
29,096 |
|
TAL International Group, Inc. |
|
1,267,713 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $46,946,991) |
|
56,771,113 |
|
|
|
|
|
|
|
REITS - 9.7 % |
|
|
22,605 |
|
Coresite Realty Corp. |
|
719,065 |
40,500 |
|
CubeSmart |
|
647,190 |
61,500 |
|
Inland Real Estate Corp. |
|
628,530 |
34,600 |
|
Potlatch Corp. |
|
1,399,224 |
19,100 |
|
PS Business Parks, Inc. |
|
1,378,447 |
149,497 |
|
Summit Hotel Properties, Inc. |
|
1,412,747 |
|
|
|
|
|
|
|
TOTAL REITs (Cost $5,544,090) |
|
6,185,203 |
|
|
|
|
|
|
|
MONEY MARKET FUND - 1.5 % |
|
|
983,177 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (A) |
| |
|
|
(Cost $983,177) |
|
983,177 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.3 % (Cost $53,474,258)(B) |
$ 63,939,493 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3) % |
(245,036) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 63,694,457 |
|
|
|
|
|
* Non-income producing securities. | ||||
REIT - Real Estate Investment Trust. | ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2013. | ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $53,580,120 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation |
11,106,951 |
|
|
|
Unrealized depreciation |
(747,574) |
|
|
|
Net unrealized appreciation |
10,359,377 |
Timothy Plan Strategic Growth Fund | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
MUTUAL FUNDS - 100.0 % (A) |
| |
277,254 |
| Timothy Plan Aggressive Growth Fund * |
| $ 2,248,531 |
583,640 |
| Timothy Plan Defensive Strategies Fund |
| 6,449,224 |
533,148 |
| Timothy Plan High Yield Bond Fund |
| 4,963,607 |
241,792 |
| Timothy Plan Emerging Markets Fund * |
| 2,355,054 |
748,299 |
| Timothy Plan International Fund |
| 5,986,392 |
167,686 |
|
Timothy Plan Israel Common Values Fund * |
|
1,935,094 |
835,098 |
|
Timothy Plan Large/Mid Cap Growth Fund |
|
6,438,604 |
365,184 |
|
Timothy Plan Large/Mid-Cap Value Fund |
|
6,255,610 |
135,179 |
|
Timothy Plan Small-Cap Value Fund |
|
2,462,965 |
|
|
|
| |
|
|
TOTAL MUTUAL FUNDS (Cost $35,259,619) |
39,095,081 | |
|
|
|
|
|
|
|
MONEY MARKET FUND - 0.2 % |
| |
105,034 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.05% (B) (Cost $105,034) |
105,034 | |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.2 % (Cost $35,364,653)(C) | $ 39,200,115 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2) % |
(90,055) | |
|
|
TOTAL NET ASSETS - 100.0% |
$ 39,110,060 | |
|
|
|
|
|
* Non-income producing securities. | ||||
(A) Affiliated Funds - Class A. | ||||
(B) Variable rate security; the rate shown represents the yield at March 28, 2013. | ||||
(C) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $38,127,588 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation |
$ 4,497,271 |
|
|
|
Unrealized depreciation |
(3,424,744) |
|
|
Net unrealized appreciation |
$ 1,072,527 |
The Timothy Plan | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2013 | ||||
|
|
|
|
|
The Portfolios utilize various methods to measure the fair value of most of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are: | ||||
|
|
|
|
|
Level 1 Unadjusted quoted prices in active markets for identical assets and liabilities that the Portfolios have the ability to access. | ||||
Level 2 Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. | ||||
Level 3 Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Portfolios own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. | ||||
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. | ||||
|
|
|
|
|
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety. | ||||
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following tables summarize the inputs used as of June 30, 2013, for the Portfolios assets and liabilities measured at fair value: |
Aggressive Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 17,476,230 |
$ - |
$ - |
$ 17,476,230 |
REITs |
14,892 |
- |
- |
14,892 |
Money Market Fund |
515,887 |
- |
- |
515,887 |
Total |
$ 18,007,009 |
$ - |
$ - |
$ 18,007,009 |
|
|
|
|
|
International Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 34,315,351 |
$ - |
$ - |
$ 34,315,351 |
Money Market Fund |
2,210,775 |
- |
- |
2,210,775 |
Total |
$ 36,526,126 |
$ - |
$ - |
$ 36,526,126 |
|
|
|
|
|
Large/Mid Cap Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 47,417,573 |
$ - |
$ - |
$ 47,417,573 |
Money Market Fund |
2,450,535 |
- |
- |
2,450,535 |
Total |
$ 49,868,108 |
$ - |
$ - |
$ 49,868,108 |
|
|
|
|
|
Small Cap Value Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 56,771,113 |
$ - |
$ - |
$ 56,771,113 |
REITs |
6,185,203 |
- |
- |
6,185,203 |
Money Market Fund |
983,177 |
- |
- |
983,177 |
Total |
$ 63,939,493 |
$ - |
$ - |
$ 63,939,493 |
|
|
|
|
|
Large/Mid Cap Value Fund |
|
|
|
|
Assets |
Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 118,350,205 |
$ - |
$ - |
$ 118,350,205 |
REITs |
9,464,276 |
- |
- |
9,464,276 |
Money Market Fund |
2,867,032 |
- |
- |
2,867,032 |
Total |
$ 130,681,513 |
$ - |
$ - |
$ 130,681,513 |
|
|
|
|
|
Fixed Income Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Bonds & Notes |
$ - |
$ 75,453,970 |
$ - |
$ 75,453,970 |
Money Market Fund |
3,832,253 |
- |
- |
3,832,253 |
Total |
$ 3,832,253 |
$ 75,453,970 |
$ - |
$ 79,286,223 |
|
|
|
|
|
High Yield Bond Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Bonds& Notes |
$ - |
$ 35,501,133 |
$ - |
$ 35,501,133 |
Money Market Fund |
1,516,699 |
- |
- |
1,516,699 |
Total |
$ 1,516,699 |
$ 35,501,133 |
$ - |
$ 37,017,832 |
|
|
|
|
|
Defensive Strategies Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 17,939,072 |
$ - |
$ - |
$ 17,939,072 |
REITs |
22,078,004 |
- |
- |
22,078,004 |
Exchange Traded Funds |
6,424,714 |
- |
- |
6,424,714 |
Bonds & Notes |
- |
24,217,266 |
- |
24,217,266 |
Money Market Fund |
5,205,130 |
- |
- |
5,205,130 |
Total |
$ 51,646,920 |
$ 24,217,266 |
$ - |
$ 75,864,186 |
|
|
|
|
|
Strategic Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Mutual Funds |
$ 39,095,081 |
$ - |
$ - |
$ 39,095,081 |
Money Market Fund |
105,034 |
- |
- |
105,034 |
Total |
$ 39,200,115 |
$ - |
$ - |
$ 39,200,115 |
|
|
|
|
|
Conservative Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Mutual Funds |
$ 52,722,361 |
$ - |
$ - |
$ 52,722,361 |
Money Market Fund |
153,673 |
- |
- |
153,673 |
Total |
$ 52,876,034 |
$ - |
$ - |
$ 52,876,034 |
|
|
|
|
|
Israel Common Values Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 8,871,729 |
$ - |
$ - |
$ 8,871,729 |
Money Market Fund |
537,650 |
- |
- |
537,650 |
Total |
$ 9,409,379 |
$ - |
$ - |
$ 9,409,379 |
|
|
|
|
|
Emerging Markets Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 6,979,703 |
$ - |
$ - |
$ 6,979,703 |
REITs |
89,126 |
- |
- |
89,126 |
Money Market Fund |
1,166,853 |
- |
- |
1,166,853 |
Total |
$ 8,235,682 |
$ - |
$ - |
$ 8,235,682 |
There were no transfers in to or out of Level 1 or Level 2 during the current period presented. It is the Trust's policy to record transfers between Level 1 and Level 2 at the end of the reporting period. |
|
The Funds did not hold any Level 3 securities during the period. |
Item 2. Controls and Procedures.
(a)
The Registrants principal executive officer and principal financial officers, or persons performing similar functions, have concluded that the Registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the Act) (17 CFR 270.30a-3(c)) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the effectiveness of the Registrants disclosure controls and procedures as required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).
(b)
There were no changes to the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting.
Item 3. Exhibits.
Certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) (and Item 3 of Form N-Q) are filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Timothy Plan Funds
By
*/s/ Arthur D. Ally
Arthur D. Ally, President / Principle Executive Officer
Date
8/27/13
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By
*/s/ Arthur D. Ally
Arthur D. Ally, President / Principle Executive Officer
Date
8/27/13
CERTIFICATIONS
CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002: |
I, Arthur D. Ally, certify that:
1. I have reviewed this report on Form N-Q of The Timothy Plan;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
By | /s/ Arthur D. Ally |
|
|
| Arthur D. Ally, President / Principal Executive Officer, Treasurer / Principal Financial Officer | ||
Date: | 8/27/13 |
|
CERTIFICATIONS
CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002: |
I, Arthur D. Ally, certify that:
1. I have reviewed this report on Form N-Q of The Timothy Plan;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and
5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting.
By | /s/ Arthur D. Ally |
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| Arthur D. Ally, President / Principal Executive Officer, Treasurer / Principal Financial Officer | ||
Date: | 8/27/13 |
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