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: 6/30/2014
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 |
| |
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| |
|
|
June 30, 2014 |
| |
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
COMMON STOCK - 96.9 % |
| |
|
|
APPAREL - 4.5 % |
| |
2,725 |
| Carter's Inc. |
|
$ 187,834 |
1,330 |
| Hanesbrands, Inc. |
|
130,925 |
16,800 |
| Steven Madden Ltd. * |
|
576,240 |
2,710 |
| VF Corp. |
|
170,730 |
|
|
|
1,065,729 | |
|
|
BANKS - 5.6 % |
| |
4,280 |
| Cardinal Financial Corp. |
|
79,009 |
3,700 |
| PacWest Bancorp |
|
159,729 |
11,745 |
| PrivateBancorp, Inc. |
|
341,310 |
29,939 |
|
Synovus Financial Corp. |
|
729,913 |
|
|
|
1,309,961 | |
|
|
BEVERAGES - 1.4 % |
| |
2,715 |
|
Keurig Green Mountain, Inc. |
|
338,316 |
|
|
|
| |
|
|
BIOTECHNOLOGY - 3.1 % |
| |
2,320 |
|
Aegerion Pharmaceuticals, Inc. * |
|
74,449 |
1,545 |
|
Alexion Pharmaceuticals, Inc. * |
|
241,406 |
1,800 |
|
BioMarin Pharmaceutical, Inc. * |
|
111,978 |
3,030 |
|
Incyte Corp. Ltd. * |
|
171,013 |
2,845 |
|
MacroGenics, Inc. * |
|
61,822 |
1,760 |
|
NPS Pharmaceuticals, Inc. * |
|
58,168 |
|
|
|
718,836 | |
|
|
COMMERCIAL SERVICES - 12.0 % |
| |
2,300 |
|
Advisory Board Co. * |
|
119,140 |
3,680 |
|
Cardtronics, Inc. * |
|
125,414 |
4,610 |
|
Euronet Worldwide, Inc. * |
|
222,386 |
1,179 |
|
FleetCor Technologies, Inc. * |
|
155,392 |
4,250 |
|
H&E Equipment Services, Inc. * |
|
154,445 |
5,655 |
|
Heartland Payment Systems, Inc. |
|
233,043 |
20,820 |
|
Information Services Group, Inc. * |
|
100,144 |
3,045 |
|
MAXIMUS, Inc. |
|
130,996 |
3,255 |
|
Monro Muffler Brake, Inc. |
|
173,133 |
4,840 |
|
SEI Investments Co. |
|
158,607 |
2,370 |
|
United Rentals, Inc. * |
|
248,210 |
6,525 |
|
Vantiv, Inc. - Cl. A * |
|
219,371 |
2,410 |
|
Verisk Analytics, Inc. - Cl. A * |
|
144,648 |
34,170 |
|
WNS Holdings Ltd. - ADR * |
|
655,381 |
|
|
|
2,840,310 | |
|
|
COMPUTERS - 4.8 % |
| |
2,700 |
|
3D Systems Corp. * |
|
161,460 |
6,595 |
|
Cognizant Technology Solutions Corp. - Cl. A * |
|
322,561 |
6,180 |
|
Electronics For Imaging, Inc. * |
|
279,336 |
1,550 |
|
IHS, Inc. - Cl. A * |
|
210,289 |
1,967 |
|
NetScout Systems, Inc. * |
|
87,217 |
3,780 |
|
Spansion, Inc. * |
|
79,645 |
|
|
|
1,140,508 | |
|
|
COSMETICS/PERSONAL CARE - 0.7 % |
| |
5,400 |
|
Inter Parfums, Inc. |
|
159,570 |
|
|
|
| |
|
|
DISTRIBUTION/WHOLESALE - 1.2 % |
| |
3,345 |
|
WESCO International, Inc. * |
|
288,941 |
|
|
|
| |
|
|
DIVERSIFIED FINANCIAL SERVICES - 8.8 % |
| |
20,720 |
|
Cowen Group, Inc. * |
|
87,438 |
8,835 |
|
E*TRADE Financial Corp. * |
|
187,832 |
6,400 |
|
Encore Capital Group, Inc. * |
|
290,688 |
2,975 |
|
Evercore Partners, Inc. - Cl. A |
|
171,479 |
2,980 |
|
Intercontinental Exchange, Inc. |
|
562,922 |
10,880 |
|
Invesco Ltd. |
|
410,720 |
6,825 |
|
Lazard Ltd. - Cl. A |
|
351,897 |
|
|
|
2,062,976 | |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 0.4 % |
| |
675 |
|
Acuity Brands, Inc. |
|
93,319 |
|
|
|
| |
|
|
ELECTRONICS - 2.7 % |
| |
430 |
|
Mettler-Toledo International, Inc. * |
|
108,867 |
2,895 |
|
Thermo Fisher Scientific, Inc. |
|
341,610 |
4,785 |
|
Trimble Navigation Ltd. * |
|
176,806 |
|
|
|
627,283 | |
|
|
ENVIRONMENTAL CONTROL - 1.1 % |
| |
2,005 |
|
MSA Safety, Inc. |
|
115,247 |
3,060 |
|
Waste Connections, Inc. |
|
148,563 |
|
|
|
263,810 | |
|
|
FOOD - 0.9 % |
| |
2,515 |
|
Hain Celestial Group, Inc. * |
|
223,181 |
|
|
|
| |
|
|
HEALTHCARE-PRODUCTS - 4.5 % |
| |
10,600 |
|
Bruker Corp. * |
|
257,262 |
2,875 |
|
Globus Medical, Inc. - Cl. A * |
|
68,770 |
3,500 |
|
Thoratec Corp. * |
|
122,010 |
10,345 |
|
Tornier NV * |
|
241,866 |
5,475 |
|
Trinity Biotech PLC |
|
126,089 |
7,855 |
|
Wright Medical Group, Inc. * |
|
246,647 |
|
|
|
1,062,644 | |
|
|
HEALTHCARE-SERVICES - 2.0 % |
| |
10,700 |
|
Capital Senior Living Corp. * |
|
255,088 |
4,580 |
|
ICON PLC * |
|
215,764 |
|
|
|
470,852 | |
|
|
HOLDING COMPANIES - 0.5 % |
| |
7,725 |
|
Horizon Pharma, Inc. * |
|
122,210 |
|
|
|
| |
|
|
HOME BUILDERS - 0.9 % |
| |
5,155 |
|
Lennar Corp. |
|
216,407 |
|
|
|
| |
|
|
INSURANCE - 2.9 % |
| |
15,025 |
|
Assured Guaranty Ltd. |
|
368,112 |
20,768 |
|
Radian Group, Inc. |
|
307,574 |
|
|
|
675,686 | |
|
|
INTERNET - 1.7 % |
| |
9,050 |
|
Endurance International Group Holdings, Inc. * |
|
138,374 |
4,200 |
|
SPS Commerce, Inc. * |
|
265,398 |
|
|
|
403,772 | |
|
|
LEISURE TIME - 2.3 % |
| |
12,775 |
|
Brunswick Corp |
|
538,211 |
|
|
|
| |
|
|
MACHINERY-DIVERSIFIED - 2.1 % |
| |
4,660 |
|
Columbus McKinnon Corp |
|
126,053 |
2,495 |
|
Flowserve Corp. |
|
185,503 |
2,250 |
|
Nordson Corp. |
|
180,428 |
|
|
|
491,984 | |
|
|
METAL FABRICATE/HARDWARE - 0.5 % |
| |
4,475 |
|
Rexnord Corp. * |
|
125,971 |
|
|
|
| |
|
|
MISCELLANEOUS MANUFACTURING - 2.0 % |
| |
4,300 |
|
Hexcel Corp. * |
|
175,870 |
7,965 |
|
TriMas Corp. * |
|
303,705 |
|
|
|
479,575 | |
|
|
OIL&GAS - 3.2 % |
| |
6,780 |
|
Cabot Oil & Gas Corp. |
|
231,469 |
2,300 |
|
Carrizo Oil & Gas, Inc. * |
|
159,298 |
12,325 |
|
Kodiak Oil & Gas Corp. * |
|
179,329 |
10,324 |
|
Rex Energy Corp. * |
|
182,838 |
|
|
|
752,934 | |
|
|
PHARMACEUTICALS - 2.6 % |
| |
8,067 |
|
Akorn, Inc. * |
|
268,228 |
4,150 |
|
Aratana Therapeutics, Inc. * |
|
64,781 |
5,240 |
|
Catamaran Corp. * |
|
231,398 |
475 |
|
Salix Pharmaceuticals Ltd. * |
|
58,591 |
|
|
|
622,998 | |
|
|
REAL ESTATE - 1.2 % |
| |
7,455 |
|
HFF, Inc. - Cl. A |
|
277,251 |
|
|
|
| |
|
|
REITS - 0.4 % |
| |
9,125 |
|
Lexington Realty Trust |
|
100,466 |
|
|
|
| |
|
|
RETAIL - 8.5 % |
| |
3,150 |
|
Advance Auto Parts, Inc. |
|
424,998 |
4,740 |
|
Bloomin' Brands, Inc. * |
|
106,318 |
4,900 |
|
Cheesecake Factory, Inc. |
|
227,458 |
6,760 |
|
Del Frisco's Restaurant Group, Inc. * |
|
186,306 |
8,315 |
|
DSW, Inc. - Cl. A |
|
232,321 |
1,600 |
|
Five Below, Inc. * |
|
63,856 |
13,745 |
|
Krispy Kreme Doughnuts, Inc. * |
|
219,645 |
3,985 |
|
Pier 1 Imports, Inc. |
|
61,409 |
9,350 |
|
Rush Enterprises, Inc. * |
|
324,165 |
1,700 |
|
Tractor Supply Co. |
|
102,680 |
2,120 |
|
Vera Bradley, Inc. * |
|
46,364 |
|
|
|
1,995,520 | |
|
|
SEMICONDUCTORS - 2.2 % |
| |
1,650 |
|
Avago Technologies Ltd. |
|
118,915 |
2,495 |
|
MaxLinear, Inc. - Cl. A * |
|
25,125 |
5,525 |
|
NXP Semiconductor NV * |
|
365,645 |
|
|
|
509,685 | |
|
|
SOFTWARE - 6.1 % |
| |
2,290 |
|
Aspen Technology, Inc. * |
|
106,256 |
5,450 |
|
Cerner Corp. * |
|
281,111 |
5,200 |
|
Informatica Corp. * |
|
185,380 |
2,575 |
|
Interactive Intelligence Group, Inc. * |
|
144,535 |
12,900 |
|
PTC, Inc. * |
|
500,520 |
3,200 |
|
SS&C Technologies Holdings, Inc. * |
|
141,504 |
2,060 |
|
Synchronoss Technologies, Inc. * |
|
72,018 |
|
|
|
1,431,324 | |
|
|
TELECOMMUNICATIONS - 4.2 % |
| |
5,275 |
|
8x8, Inc. * |
|
42,622 |
4,335 |
|
Aruba Networks, Inc. * |
|
75,949 |
6,560 |
|
CalAmp Corp. * |
|
142,090 |
5,190 |
|
Fortinet, Inc. * |
|
130,425 |
5,795 |
|
SBA Communications Corp. - Cl. A * |
|
592,829 |
|
|
|
983,915 | |
|
|
TRANSPORTATION - 1.9 % |
| |
2,825 |
|
Genesee & Wyoming, Inc. * |
|
296,625 |
5,755 |
|
Swift Transportation Co. - Cl. A * |
|
145,199 |
|
|
|
441,824 | |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $19,458,533) |
22,835,969 | |
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS - 3.2 % |
| |
756,987 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (A) |
| |
|
|
(Cost $756,987) |
756,987 | |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.1 % (Cost $20,215,520) | $ 23,592,956 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1) % |
(29,978) | |
|
|
NET ASSETS - 100.0% |
$ 23,562,978 | |
|
|
|
|
|
* Non-income producing securities. |
| |||
REIT - Real Estate Investment Trust. |
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $20,264,001 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation | $ 3,900,211 |
|
|
|
Unrealized depreciation | (571,256) |
|
|
Net unrealized appreciation |
$ 3,328,955 |
|
|
Timothy Plan International Fund |
| |
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| |
|
|
June 30, 2014 |
| |
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
COMMON STOCK - 96.8 % |
| |
|
|
|
|
|
|
|
AIRLINES - 1.9 % |
| |
7,200 |
| Copa Holdings SA - Cl. A |
|
$ 1,026,504 |
|
|
|
| |
|
|
AUTO MANUFACTURERS - 1.9 % |
| |
103,000 |
| Porsche Automobil Holding SE |
|
1,070,170 |
|
|
|
| |
|
|
AUTO PARTS&EQUIPMENT - 7.5 % |
| |
18,100 |
| Magna International, Inc. |
|
1,950,275 |
32,000 |
| Valeo SA |
|
2,150,400 |
|
|
|
4,100,675 | |
|
|
BANKS - 9.4 % |
| |
18,000 |
|
Bank Hapoalim BM |
|
523,440 |
132,000 |
|
Bank of East Asia Ltd. |
|
543,840 |
23,539 |
|
DBS Group Holdings Ltd. |
|
1,269,929 |
49,100 |
|
Intesa Sanpaolo SpA |
|
907,368 |
151,200 |
|
Sumitomo Mitsui Financial Group, Inc. |
|
1,280,664 |
24,100 |
|
Swedbank AB |
|
640,578 |
|
|
|
5,165,819 | |
|
|
BUILDING MATERIALS - 1.5 % |
| |
39,000 |
|
Lafarge SA |
|
833,040 |
|
|
|
| |
|
|
CHEMICALS - 0.7 % |
| |
4,000 |
|
Agrium, Inc. |
|
366,520 |
|
|
|
| |
|
|
DIVERSIFIED FINANCIAL SERVICES - 5.0 % |
| |
85,500 |
|
Daiwa Securities Group, Inc. |
|
738,720 |
24,000 |
|
ICAP PLC |
|
309,840 |
20,800 |
|
ORIX Corp. |
|
1,727,232 |
|
|
|
2,775,792 | |
|
|
ELECTRIC - 0.9 % |
| |
59,900 |
|
Power Assets Holdings Ltd. |
|
520,531 |
|
|
|
| |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 2.0 % |
| |
15,000 |
|
Hitachi Ltd. |
|
1,100,850 |
|
|
|
| |
|
|
ENGINEERING & CONSTRUCTION - 2.7 % |
| |
78,000 |
|
Vinci SA |
|
1,455,480 |
|
|
|
| |
|
|
FOOD - 5.9 % |
| |
14,000 |
|
Kerry Group PLC |
|
1,063,300 |
78,000 |
|
Marine Harvest ASA |
|
1,070,160 |
13,000 |
|
Seven & I Holdings Co. Ltd. |
|
1,096,680 |
|
|
|
3,230,140 | |
|
|
HAND/MACHINE TOOLS - 2.8 % |
| |
95,100 |
|
Techtronic Industries Co. |
|
1,516,845 |
|
|
|
| |
|
|
HEALTHCARE-PRODUCTS - 3.3 % |
| |
20,600 |
|
Smith & Nephew PLC |
|
1,839,168 |
|
|
|
| |
|
|
HEALTHCARE-SERVICES - 2.7 % |
| |
44,000 |
|
Fresenius Medical Care AG & Co. KGaA |
|
1,473,560 |
|
|
|
| |
|
|
HOME BUILDERS - 1.7 % |
| |
70,000 |
|
Sekisui House Ltd. |
|
955,500 |
|
|
|
| |
|
|
HOUSEHOLD PRODUCTS/WARES - 3.3 % |
| |
18,000 |
|
Henkel AG & Co. KGaA |
|
1,813,500 |
|
|
|
| |
|
|
INSURANCE - 8.6 % |
| |
188,000 |
|
Aegon NV |
|
1,648,760 |
41,400 |
|
Ageas |
|
1,652,688 |
40,700 |
|
Muenchener Rueckversicherungs AG |
|
902,319 |
17,900 |
|
Zurich Insurance Group AG |
|
538,790 |
|
|
|
4,742,557 | |
|
|
IRON/STEEL - 1.6 % |
| |
73,200 |
|
Vale SA |
|
871,080 |
|
|
|
| |
|
|
MACHINERY-CONSTR&MINING - 1.2 % |
| |
24,000 |
|
Atlas Copco AB |
|
640,080 |
|
|
|
| |
|
|
MACHINERY-DIVERSIFIED - 0.4 % |
| |
20,772 |
|
CNH Industrial NV |
|
212,290 |
|
|
|
| |
|
|
METAL FABRICATE/HARDWARE - 0.9 % |
| |
20,000 |
|
Assa Abloy AB |
|
508,000 |
|
|
|
| |
|
|
MINING - 1.4 % |
| |
14,000 |
|
Rio Tinto PLC |
|
759,920 |
|
|
|
| |
|
|
MISCELLANEOUS MANUFACTURING - 2.1 % |
| |
40,838 |
|
FUJIFILM Holdings Corp. |
|
1,140,197 |
|
|
|
| |
|
|
OIL & GAS - 6.5 % |
| |
20,000 |
|
Afren PLC * |
|
247,926 |
117,000 |
|
Gran Tierra Energy, Inc. * |
|
950,040 |
14,600 |
|
Lukoil OAO |
|
873,372 |
49,568 |
|
Statoil ASA - ADR |
|
1,528,181 |
|
|
|
3,599,519 | |
|
|
OIL & GAS SERVICES - 1.5 % |
| |
42,788 |
|
Subsea 7 SA |
|
800,136 |
|
|
|
| |
|
|
PHARMACEUTICALS - 5.4 % |
| |
12,500 |
|
Shire PLC |
|
2,943,625 |
|
|
|
| |
|
|
RETAIL - 1.5 % |
| |
68,000 |
|
Home Retail Group PLC |
|
824,840 |
|
|
|
| |
|
|
SOFTWARE - 1.4 % |
| |
16,000 |
|
Open Text Corp. |
|
767,040 |
|
|
|
| |
|
|
TELECOMMUNICATIONS - 8.6 % |
| |
15,000 |
|
Globe Telecom, Inc. |
|
552,075 |
25,000 |
|
Nippon Telegraph & Telephone Corp. |
|
780,250 |
12,000 |
|
Philippine Long Distance Telephone Co. |
|
808,560 |
47,500 |
|
Singapore Telecommunications Ltd. |
|
1,472,975 |
28,852 |
|
SoftBank Corp. |
|
1,084,835 |
|
|
|
4,698,695 | |
|
|
TRANSPORTATION - 2.5 % |
| |
7,700 |
|
Canadian Pacific Railway Ltd. |
|
1,394,778 |
|
|
|
| |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $39,740,817) |
53,146,851 | |
|
|
|
|
|
|
|
MONEY MARKET FUND - 3.7 % |
| |
2,032,121 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (A) |
2,032,121 | |
|
|
(Cost $2,032,121) |
| |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.5 % (Cost $41,772,938) | $ 55,178,972 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.5) % |
(292,188) | |
|
|
NET ASSETS - 100.0% |
$ 54,886,784 | |
|
|
|
|
|
*Non-income producing securities. |
|
| ||
(ADR) American Depositary Receipt. |
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $42,375,234 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation | $ 13,758,164 | |
|
|
Unrealized depreciation | (954,426) | |
|
|
Net unrealized appreciation |
$ 12,803,738 |
|
|
|
Timothy Plan Large/Mid Cap Growth | ||||
PORTFOLIO OF INVESTMENTS (Unaudited) | ||||
June 30, 2014 | ||||
Shares |
|
|
|
Value |
|
| COMMON STOCK - 97.2% |
|
|
|
| AEROSPACE/DEFENSE - 1.2% |
|
|
6,310 |
| General Dynamics Corp. |
|
$ 735,430 |
|
|
|
|
|
|
| APPAREL - 2.9% |
|
|
6,625 |
| Carter's, Inc. |
|
456,661 |
1,420 |
| Hanesbrands, Inc. |
|
139,785 |
19,140 |
| VF Corp. |
|
1,205,820 |
|
|
|
|
1,802,266 |
|
| BANKS - 3.9% |
|
|
33,850 |
|
BB&T Corp. |
|
1,334,705 |
12,750 |
|
PrivateBancorp, Inc. |
|
370,515 |
32,033 |
|
Synovus Financial Corp. |
|
780,965 |
|
|
|
|
2,486,185 |
|
|
BEVERAGES - 0.7% |
|
|
3,450 |
|
Keurig Green Mountain, Inc. |
|
429,905 |
|
|
|
|
|
|
|
BIOTECHNOLOGY - 3.0% |
|
|
1,772 |
|
Alexion Pharmaceuticals, Inc. * |
|
277,344 |
5,725 |
|
BioMarin Pharmaceutical, Inc. * |
|
356,152 |
12,240 |
|
Celgene Corp. * |
|
1,051,171 |
3,550 |
|
Incyte Corp. Ltd. * |
|
200,362 |
|
|
|
|
1,885,029 |
|
|
CHEMICALS - 4.4% |
|
|
13,240 |
|
LyondellBasell Industries NV |
|
1,292,886 |
10,960 |
|
Praxair, Inc. |
|
1,455,926 |
|
|
|
|
2,748,812 |
|
|
COMMERCIAL SERVICES - 4.8% |
|
|
3,467 |
|
FleetCor Technologies, Inc. * |
|
456,951 |
32,425 |
|
SEI Investments Co. |
|
1,062,567 |
5,540 |
|
United Rentals, Inc. * |
|
580,204 |
14,945 |
|
Vantiv Inc. - Cl. A * |
|
502,451 |
6,995 |
|
Verisk Analytics, Inc. - Cl. A * |
|
419,840 |
|
|
|
|
3,022,013 |
|
|
COMPUTERS - 2.3% |
|
|
3,175 |
|
3D Systems Corp. * |
|
189,865 |
10,350 |
|
Cognizant Technology Solutions Corp. - Cl. A * |
|
506,218 |
6,745 |
|
Electronics For Imaging, Inc. * |
|
304,874 |
3,550 |
|
HIS, Inc. - Cl. A * |
|
481,628 |
|
|
|
|
1,482,585 |
|
|
DISTRIBUTION/WHOLESALE - 0.5% |
|
|
3,590 |
|
WESCO International, Inc. * |
|
310,104 |
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES - 3.8% |
|
|
20,585 |
|
E*TRADE Financial Corp. * |
|
437,637 |
4,165 |
|
IntercontinentalExchange Group, Inc. |
|
786,768 |
17,174 |
|
Invesco, Ltd. |
|
648,319 |
9,705 |
|
Lazard, Ltd. MLP - Cl. A |
|
500,390 |
|
|
|
|
2,373,114 |
|
|
ELECTRONICS - 5.9% |
|
|
15,090 |
|
Amphenol Corp. |
|
1,453,771 |
980 |
|
Mettler-Toledo International, Inc. * |
|
248,116 |
13,315 |
|
Thermo Fisher Scientific, Inc. |
|
1,571,170 |
11,270 |
|
Trimble Navigation, Ltd. * |
|
416,427 |
|
|
|
|
3,689,484 |
|
|
ENVIRONMENTAL CONTROL - 0.6% |
|
|
7,270 |
|
Waste Connections, Inc. |
|
352,959 |
|
|
|
|
|
|
|
FOOD - 3.7% |
|
|
6,075 |
|
Hain Celestial Group Inc. * |
|
539,095 |
9,930 |
|
JM Smucker Co. |
|
1,058,240 |
20,000 |
|
Mondelez International, Inc. - Cl. A |
|
752,200 |
|
|
|
|
2,349,535 |
|
|
HEALTHCARE - 2.5% |
|
|
24,700 |
|
Bruker Corp. * |
|
599,469 |
5,785 |
|
ICON PLC * |
|
272,531 |
8,815 |
|
Sirona Dental Systems, Inc. * |
|
726,885 |
|
|
|
|
1,598,885 |
|
|
HOME BUILDERS - 0.8% |
|
|
11,455 |
|
Lennar Corp. |
|
480,881 |
|
|
|
|
|
|
|
INSURANCE - 3.7% |
|
|
17,275 |
|
ACE, Ltd. |
|
1,791,418 |
23,300 |
|
Assured Guaranty, Ltd. |
|
570,850 |
|
|
|
|
2,362,268 |
|
|
LEISURE TIME - 0.9% |
|
|
13,850 |
|
Brunswick Corp. |
|
583,500 |
|
|
|
|
|
|
|
MACHINERY-DIVERSIFIED - 3.2% |
|
|
5,535 |
|
Flowserve Corp. |
|
411,527 |
5,225 |
|
Nordson Corp. |
|
418,993 |
9,230 |
|
Rockwell Automation, Inc. |
|
1,155,227 |
|
|
|
|
1,985,747 |
|
|
MINING - 3.0% |
|
|
51,485 |
|
Freeport-McMoRan Copper & Gold, Inc. |
|
1,879,202 |
|
|
|
|
|
|
|
MISCELLANEOUS MANUFACTURING - 1.2% |
| |
28,500 |
|
Harsco Corp. |
|
758,955 |
|
|
|
|
|
|
|
OIL&GAS - 8.1% |
|
|
6,620 |
|
Cabot Oil & Gas Corp. |
|
226,007 |
14,940 |
|
ConocoPhillips |
|
1,280,806 |
12,530 |
|
Exxon Mobil Corp. |
|
1,261,520 |
22,520 |
|
Occidental Petroleum Corp. |
|
2,311,228 |
|
|
|
|
5,079,561 |
|
|
|
|
|
PHARMACEUTICALS - 2.4% |
|
|
17,100 |
|
AbbVie, Inc. |
|
965,124 |
9,175 |
|
Catamaran Corp. * |
|
405,168 |
1,025 |
|
Salix Pharmaceuticals, Ltd. * |
|
126,434 |
|
|
|
|
1,496,726 |
|
|
RETAIL - 11.9% |
|
|
6,475 |
|
Advance Auto Parts, Inc. |
|
873,607 |
3,690 |
|
AutoZone, Inc. * |
|
1,978,726 |
13,600 |
|
Cheesecake Factory, Inc. |
|
631,312 |
11,180 |
|
Costco Wholesale Corp. |
|
1,287,489 |
24,530 |
|
Kohl's Corp. |
|
1,292,240 |
24,550 |
|
Lowe's Cos, Inc. |
|
1,178,155 |
4,000 |
|
Tractor Supply Co. |
|
241,600 |
|
|
|
|
7,483,129 |
|
|
SEMICONDUCTORS - 10.4% |
|
|
3,875 |
|
Avago Technologies, Ltd. |
|
279,271 |
43,340 |
|
Linear Technology Corp. |
|
2,040,014 |
32,860 |
|
Maxim Integrated Products, Inc. |
|
1,110,997 |
72,870 |
|
NVIDIA Corp. |
|
1,351,010 |
9,725 |
|
NXP Semiconductor NV * |
|
643,601 |
22,945 |
|
Xilinx, Inc. |
|
1,085,528 |
|
|
|
|
6,510,421 |
|
|
SOFTWARE - 5.4% |
|
|
15,325 |
|
Cerner Corp. * |
|
790,463 |
12,180 |
|
Informatica Corp. * |
|
434,217 |
23,935 |
|
PTC, Inc. * |
|
928,678 |
12,600 |
|
VMware, Inc. - Cl. A * |
|
1,219,806 |
|
|
|
|
3,373,164 |
|
|
TELECOMMUNICATIONS - 1.9% |
|
|
5,470 |
|
Finisar, Inc. * |
|
137,461 |
10,050 |
|
SBA Communications Corp. - Cl. A * |
|
1,028,115 |
|
|
|
|
1,165,576 |
|
|
TRANSPORTATION - 4.1% |
|
|
3,155 |
|
Genesee & Wyoming, Inc. * |
|
331,275 |
18,250 |
|
Norfolk Southern Corp. |
|
1,880,298 |
13,795 |
|
Swift Transportation Co. - Cl. A * |
|
348,048 |
|
|
|
|
2,559,621 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost - $51,073,146) |
60,985,057 | |
|
|
|
|
|
|
|
MONEY MARKET FUND - 3.1% |
|
|
1,966,484 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.01% (A) |
| |
|
|
(Cost - $1,966,484) |
|
1,966,484 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.3 % (Cost - $53,039,630) | $ 62,951,541 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)% |
(176,024) | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 62,775,517 |
|
|
|
|
|
*Non-income producing securities. |
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
| ||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $53,114,979 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation | $ 10,029,168 | |
|
|
Unrealized depreciation | (192,606) | |
|
|
Net unrealized appreciation |
$ 9,836,562 |
|
|
|
|
|
Timothy Plan Small Cap Value Fund |
| |
PORTFOLIO OF INVESTMENTS (Unaudited) | ||||
|
|
June 30, 2014 |
| |
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
COMMON STOCK - 95.4 % |
| |
|
|
AEROSPACE/DEFENSE - 2.2 % |
| |
43,022 |
| Kaman Corp. |
|
$ 1,838,330 |
|
|
|
| |
|
|
APPAREL - 2.0 % |
| |
65,400 |
| Wolverine World Wide, Inc. |
|
1,704,324 |
|
|
|
| |
|
|
BANKS - 13.8 % |
| |
14,323 |
| Bancfirst Corp. |
|
886,594 |
108,899 |
| BBCN Bancorp, Inc. |
|
1,736,939 |
62,047 |
| Chemical Financial Corp. |
|
1,742,280 |
67,308 |
|
Columbia Banking System, Inc. |
|
1,770,874 |
63,800 |
|
First Financial Bancorp |
|
1,097,998 |
61,657 |
|
Pacific Continental Corp. |
|
846,551 |
59,330 |
|
WesBanco, Inc. |
|
1,841,603 |
35,954 |
|
Wintrust Financial Corp. |
|
1,653,884 |
|
|
|
11,576,723 | |
|
|
BUILDING MATERIALS - 8.7 % |
| |
46,511 |
|
Apogee Enterprises, Inc. |
|
1,621,373 |
60,250 |
|
Boise Cascade Co. * |
|
1,725,560 |
102,186 |
|
Continental Building Products, Inc. |
|
1,573,664 |
34,800 |
|
Gibraltar Industries, Inc. |
|
539,748 |
64,826 |
|
Trex Co., Inc. * |
|
1,868,285 |
|
|
|
7,328,630 | |
|
|
COMMERCIAL SERVICES - 2.0 % |
| |
98,400 |
|
Kelly Services, Inc. |
|
1,689,528 |
|
|
|
| |
|
|
COMPUTERS - 2.1 % |
| |
34,700 |
|
j2 Global, Inc. |
|
1,764,842 |
|
|
|
| |
|
|
ELECTRIC - 4.3 % |
| |
35,300 |
|
ALLETE, Inc. |
|
1,812,655 |
34,800 |
|
NorthWestern Corp. |
|
1,816,212 |
|
|
|
3,628,867 | |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 2.2 % |
| |
19,345 |
|
Littelfuse, Inc. |
|
1,798,118 |
|
|
|
| |
|
|
ELECTRONICS - 2.2 % |
| |
28,010 |
|
Coherent, Inc. * |
|
1,853,422 |
|
|
|
| |
|
|
FOOD - 2.1 % |
| |
19,063 |
|
J&J Snack Foods Corp. |
|
1,794,210 |
|
|
|
| |
|
|
GAS - 2.0 % |
| |
29,828 |
|
New Jersey Resources Corp. |
|
1,704,969 |
|
|
|
| |
|
|
HEALTHCARE-PRODUCTS - 3.3 % |
| |
26,700 |
|
Haemonetics Corp. * |
|
941,976 |
118,858 |
|
Merit Medical Systems, Inc. * |
1,794,756 | |
|
|
|
|
2,736,732 |
|
|
HOME FURNISHINGS - 2.0 % |
| |
92,028 |
|
DTS, Inc./CA * |
|
1,694,235 |
|
|
|
| |
|
|
INSURANCE - 4.5 % |
| |
26,245 |
|
AMERISAFE, Inc. |
|
1,067,384 |
85,800 |
|
Employers Holdings, Inc. |
|
1,817,244 |
17,397 |
|
Safety Insurance Group, Inc. |
|
893,858 |
|
|
|
3,778,486 | |
|
|
MACHINERY-CONSTR&MINING - 0.9 % |
| |
8,862 |
|
Hyster-Yale Materials Handling, Inc. |
|
784,641 |
|
|
|
| |
|
|
MACHINERY-DIVERSIFIED - 2.9 % |
| |
50,993 |
|
Gorman-Rupp Co. |
|
1,803,622 |
23,405 |
|
Hurco Cos, Inc. |
|
660,021 |
|
|
|
2,463,643 | |
|
|
MEDIA - 1.1 % |
| |
19,700 |
|
Meredith Corp. |
|
952,692 |
|
|
|
| |
|
|
OFFICE FURNISHINGS - 1.0 % |
| |
48,215 |
|
Knoll, Inc. |
|
835,566 |
|
|
|
| |
|
|
OIL&GAS - 8.9 % |
| |
31,872 |
|
Bonanza Creek Energy, Inc. * |
|
1,822,760 |
44,194 |
|
Carrizo Oil & Gas, Inc. * |
|
1,869,848 |
111,888 |
|
Rex Energy Corp. * |
|
1,981,536 |
136,092 |
|
Synergy Resources Corp. * |
|
1,803,219 |
|
|
|
7,477,363 | |
|
|
OIL&GAS SERVICES - 2.0 % |
| |
28,131 |
|
Matrix Service Co. * |
|
922,416 |
39,170 |
|
World Point Terminals LP * |
|
733,654 |
|
|
|
1,656,070 | |
|
|
PIPELINES - 1.0 % |
| |
29,000 |
|
Primoris Services Corp. |
|
836,360 |
|
|
|
| |
|
|
REITS - 9.1 % |
| |
24,105 |
|
CoreSite Realty Corp. |
|
797,152 |
51,200 |
|
CubeSmart |
|
937,984 |
70,498 |
|
CyrusOne, Inc. |
|
1,755,400 |
73,100 |
|
Inland Real Estate Corp. |
|
777,053 |
38,500 |
|
Potlatch Corp. |
|
1,593,900 |
171,297 |
|
Summit Hotel Properties, Inc. |
|
1,815,748 |
|
|
|
7,677,237 | |
|
|
RETAIL - 4.3 % |
| |
18,600 |
|
Lithia Motors, Inc. |
|
1,749,702 |
53,782 |
|
Rush Enterprises Inc. * |
|
1,864,622 |
|
|
|
3,614,324 | |
|
|
SOFTWARE - 4.2 % |
| |
81,700 |
|
AVG Technologies NV * |
|
1,644,621 |
64,421 |
|
Omnicell, Inc. * |
|
1,849,527 |
|
|
|
3,494,148 | |
|
|
TRANSPORTATION - 4.5 % |
| |
87,915 |
|
Heartland Express, Inc. |
|
1,876,106 |
67,600 |
|
Roadrunner Transportation Systems, Inc. * |
|
1,899,560 |
|
|
|
3,775,666 | |
|
|
TRUCKING&LEASING - 2.1 % |
| |
39,596 |
|
TAL International Group, Inc. |
|
1,756,479 |
|
|
|
| |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $67,746,305) |
80,215,605 | |
|
|
|
|
|
|
|
MONEY MARKET FUND - 4.7 % |
| |
3,927,974 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.01% (A) |
| |
|
|
(Cost $3,927,974) |
3,927,974 | |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.1 % (Cost $71,674,279)(B) | $ 84,143,579 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1) % |
(82,975) | |
|
|
TOTAL NET ASSETS - 100.0% |
$ 84,060,604 | |
|
|
|
|
|
* Non-income producing securities. |
|
| ||
REIT - Real Estate Investment Trust. |
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $71,724,302 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
Unrealized appreciation | 13,411,059 | |
|
|
Unrealized depreciation | (991,782) | |
|
|
Net unrealized appreciation |
12,419,277 |
|
|
|
Timothy Plan Large/Mid Cap Value Fund | ||||
PORTFOLIO OF INVESTMENTS (Unaudited) | ||||
June 30, 2014 | ||||
Shares |
|
|
|
Value |
|
|
COMMON STOCK - 95.2% |
|
|
|
| AEROSPACE/DEFENSE - 1.9% |
|
|
33,550 |
| B/E Aerospace, Inc. * |
|
$ 3,103,040 |
|
|
|
|
|
|
| AUTO - 2.1% |
|
|
50,400 |
| BorgWarner, Inc. |
|
3,285,576 |
|
|
|
|
|
|
| BANKS - 6.1% |
|
|
69,900 |
| CIT Group, Inc. |
|
3,198,624 |
89,800 |
| East West Bancorp, Inc. |
|
3,142,102 |
29,786 |
| SVB Financial Group * |
|
3,473,643 |
|
|
|
|
9,814,369 |
|
|
BEVERAGES - 2.1% |
|
|
56,900 |
|
Dr. Pepper Snapple Group, Inc. |
|
3,333,202 |
|
|
|
|
|
|
|
CHEMICALS - 2.9% |
|
|
20,300 |
|
Rockwood Holdings, Inc. |
|
1,542,597 |
14,850 |
|
Sherwin-Williams Co. |
|
3,072,614 |
|
|
|
|
4,615,211 |
|
|
COMPUTERS - 2.4% |
|
|
18,900 |
|
SanDisk Corp. |
|
1,973,727 |
19,900 |
|
Western Digital Corp. |
|
1,836,770 |
|
|
|
|
3,810,497 |
|
|
DISTRIBUTION/WHOLESALE - 3.8% |
|
|
34,600 |
|
WESCO International, Inc. * |
|
2,988,748 |
11,900 |
|
WW Grainger, Inc. |
|
3,025,813 |
|
|
|
|
6,014,561 |
|
|
DIVERSIFIED FINANCIAL SERVICES - 8.0% |
|
|
85,800 |
|
Eaton Vance Corp. |
|
3,242,382 |
55,800 |
|
Franklin Resources, Inc. |
|
3,227,472 |
84,000 |
|
Invesco, Ltd. |
|
3,171,000 |
60,600 |
|
Lazard, Ltd. MLP - Cl. A |
|
3,124,536 |
|
|
|
|
12,765,390 |
|
|
ELECTRIC - 2.0% |
|
|
31,900 |
|
NextEra Energy, Inc. |
|
3,269,112 |
|
|
|
|
|
|
|
ELECTRONICS - 6.1% |
|
|
33,100 |
|
Amphenol Corp. |
|
3,188,854 |
52,200 |
|
TE Connectivity, Ltd. |
|
3,228,048 |
65,900 |
|
Woodward, Inc. |
|
3,306,862 |
|
|
|
|
9,723,764 |
|
|
|
|
| FOOD - 5.9% |
|
|
30,000 |
| JM Smucker Co. |
|
3,197,100 |
43,200 |
| McCormick & Co., Inc. |
|
3,092,688 |
83,750 |
| Sysco Corp. |
|
3,136,437 |
|
|
|
|
9,426,225 |
|
| HEALTHCARE - 4.0% |
|
|
23,100 |
| CR Bard, Inc. |
|
3,303,531 |
65,700 |
| DENTSPLY International, Inc. |
|
3,110,895 |
|
|
|
|
6,414,426 |
|
| HOUSEHOLD PRODUCTS/WARES - 1.0% |
|
|
18,900 |
| Tupperware Brands Corp. |
|
1,581,930 |
|
|
|
|
|
|
| INSURANCE - 2.5% |
|
|
59,000 |
| Axis Capital Holdings, Ltd. |
|
2,612,520 |
41,100 |
| Unumprovident Group |
|
1,428,636 |
|
|
|
|
4,041,156 |
|
| MACHINERY-DIVERSIFIED - 2.0% |
|
|
43,000 |
| Flowserve Corp. |
|
3,197,050 |
|
|
|
|
|
|
| METAL FABRICATE/HARDWARE - 1.8% |
|
|
11,500 |
| Precision Castparts Corp. |
|
2,902,600 |
|
|
|
|
|
|
| MISCELLANEOUS MANUFACTUR - 3.9% |
|
|
63,600 |
| AO Smith Corp. |
|
3,153,288 |
29,200 |
| SPX Corp. |
|
3,159,732 |
|
|
|
|
6,313,020 |
|
| OIL & NATURAL GAS - 9.3% |
|
|
33,750 |
| EOG Resources, Inc. |
|
3,944,025 |
14,700 |
| EQT Corp. |
|
1,571,430 |
34,700 |
| Marathon Petroleum Corp. |
|
2,709,029 |
20,400 |
| National Oilwell Varco, Inc. |
|
1,679,940 |
61,130 |
| New Jersey Resources Corp. |
|
3,494,191 |
62,500 |
| Oasis Petroleum, Inc. * |
|
3,493,125 |
30,900 |
| Occidental Petroleum Corp. |
|
3,171,267 |
|
|
|
|
20,063,007 |
|
| PHARMACEUTICALS - 1.9% |
|
|
44,200 |
| Express Scripts Holding Co. * |
|
3,064,386 |
1 |
| Mallinckrodt PLC * |
|
80 |
|
|
|
|
3,064,466 |
|
| REAL ESTATE INVESTMENT TRUSTS - 2.2% |
|
|
26,600 |
| Regency Centers Corp. |
|
1,481,088 |
31,500 |
| Ventas Inc. |
|
2,019,150 |
|
|
|
|
3,500,238 |
|
|
|
|
|
RETAIL - 7.0% |
|
|
24,575 |
|
Advance Auto Parts, Inc. |
|
3,315,659 |
47,600 |
|
Family Dollar Stores, Inc. |
|
3,148,264 |
33,725 |
|
MSC Industrial Direct Co., Inc. |
|
3,225,459 |
26,600 |
|
PetSmart, Inc. |
|
1,590,680 |
|
|
|
|
11,280,062 |
|
|
SEMICONDUCTORS - 6.1% |
|
|
63,500 |
|
Avago Technologies, Ltd. |
|
4,576,445 |
32,000 |
|
Microchip Technology, Inc. |
|
1,561,920 |
78,300 |
|
Skyworks Solutions, Inc. * |
|
3,676,968 |
|
|
|
|
9,815,333 |
|
|
TELECOMMUNICATIONS - 2.8% |
|
|
95,500 |
|
Amdocs, Ltd. |
|
4,424,515 |
|
|
|
|
|
|
|
TEXTILE - 2.1% |
|
|
24,100 |
|
Mohawk Industries, Inc. * |
|
3,333,994 |
|
|
|
|
|
|
|
TRANSPORTATION - 2.1% |
|
|
51,600 |
|
Canadian National Railway Co. |
|
3,355,032 |
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost - $113,356,539) |
152,447,776 | |
|
|
|
|
|
|
|
MONEY MARKET FUND - 5.4% |
|
|
7,626,206 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.01% (A) |
| |
|
|
(Cost - $7,626,206) |
|
7,626,206 |
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.0% ( Cost - $120,982,745)(B) | $ 160,073,982 | |
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES - (0.0)% |
6,554 | |
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 160,080,536 |
|
|
|
|
|
* Non-income producing securities. |
|
| ||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
| ||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $121,020,537 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||
|
|
|
Unrealized appreciation | $ 39,610,759 |
|
|
|
Unrealized depreciation | (557,314) |
|
|
|
Net unrealized appreciation |
$ 39,053,445 |
|
|
|
|
|
Timothy Plan Fixed Income Fund |
| ||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| ||
|
|
June 30, 2014 |
| ||
Par Value |
|
|
Coupon Rate (%) |
Maturity |
Value |
|
|
|
|
|
|
|
| BONDS & NOTES - 95.6 % |
|
|
|
|
| AUTO PARTS&EQUIPMENT - 2.5 % |
|
|
|
$ 1,000,000 |
| Delphi Corp. | 4.1500 | 3/15/2024 | $ 1,040,369 |
750,000 |
| Johnson Controls Inc. | 5.0000 | 3/30/2020 |
835,921 |
|
|
|
|
|
1,876,290 |
|
| BANKS - 1.4 % |
|
|
|
1,000,000 |
| Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands | 2.1250 | 10/13/2015 |
1,022,492 |
|
|
|
|
|
|
|
| CHEMICALS - 1.1 % |
|
|
|
800,000 |
| LYB International Finance BV | 4.0000 | 7/15/2023 |
841,447 |
|
|
|
|
|
|
|
|
ELECTRIC - 2.4 % |
|
|
|
973,831 |
|
John Sevier Combined Cycle Generation LLC | 4.6260 | 1/15/2042 | 1,020,226 |
750,000 |
|
NiSource Finance Corp. | 5.4000 | 7/15/2014 |
751,356 |
|
|
|
|
|
1,771,582 |
|
|
ENGINEERING&CONSTRUCTION - 1.3 % |
|
|
|
1,000,000 |
|
ABB Finance USA Inc. | 2.8750 | 5/8/2022 |
994,688 |
|
|
|
|
|
|
|
|
GOVERNMENT MORTGAGE-BACKED SECURITIES - 31.0% |
|
|
|
3,970,170 |
|
GNMA Pool AD8801 | 3.5000 | 3/15/2043 | 4,137,496 |
1,146,581 |
|
GNMA Pool 737556 | 4.5000 | 10/15/2040 | 1,252,827 |
1,243,453 |
|
GNMA Pool 783060 | 4.0000 | 8/15/2040 | 1,330,746 |
1,526,211 |
|
GNMA Pool 701961 | 4.5000 | 6/15/2039 | 1,664,434 |
465,524 |
|
GNMA Pool 734437 | 4.5000 | 5/15/2041 | 508,569 |
8,705 |
|
GNMA Pool 599821 | 5.0000 | 1/15/2018 | 9,188 |
10,551 |
|
GNMA Pool 585163 | 5.0000 | 2/15/2018 | 11,207 |
10,455 |
|
GNMA Pool 585180 | 5.0000 | 2/15/2018 | 11,106 |
186,347 |
|
GNMA Pool 604182 | 5.5000 | 4/15/2033 | 209,655 |
49,111 |
|
GNMA Pool 781694 | 6.0000 | 12/15/2031 | 55,783 |
106,754 |
|
GNMA Pool 663776 | 6.5000 | 1/15/2037 | 121,421 |
6,607 |
|
GNMA Pool 592492 | 5.0000 | 3/15/2018 | 7,043 |
2,511,366 |
|
GNMA Pool MA0220 | 3.5000 | 7/20/2042 | 2,621,736 |
4,296,895 |
|
GNMA Pool MA0155 | 4.0000 | 6/20/2042 | 4,607,537 |
516,190 |
|
GNMA Pool 5204 | 4.5000 | 10/20/2041 | 564,846 |
1,108,198 |
|
GNMA Pool 4520 | 5.0000 | 8/20/2039 | 1,231,041 |
699,171 |
|
GNMA Pool 4541 | 5.0000 | 9/20/2039 | 776,700 |
1,218,815 |
|
GNMA Pool 4947 | 5.0000 | 2/20/2041 | 1,353,437 |
293,841 |
|
GNMA Pool 4058 | 5.0000 | 12/20/2037 | 323,745 |
249,843 |
|
GNMA Pool 3711 | 5.5000 | 5/20/2035 | 281,150 |
305,478 |
|
GNMA Pool 4072 | 5.5000 | 1/20/2038 | 341,616 |
115,492 |
|
GNMA Pool 3679 | 6.0000 | 2/20/2035 | 135,050 |
203,300 |
|
GNMA Pool 3865 | 6.0000 | 6/20/2036 | 230,593 |
46,231 |
|
GNMA Pool 3584 | 6.0000 | 7/20/2034 | 53,361 |
114,437 |
|
GNMA Pool 3612 | 6.5000 | 9/20/2034 | 133,439 |
346,660 |
|
GNMA Pool 3625 | 6.0000 | 10/20/2034 | 391,368 |
134,688 |
|
GNMA Pool 3637 | 5.5000 | 11/20/2034 | 151,282 |
221,183 |
|
GNMA Pool 3665 | 5.5000 | 1/20/2035 | 248,272 |
141,763 |
|
GNMA Pool 3910 | 6.0000 | 10/20/2036 |
161,208 |
|
|
|
|
|
22,925,856 |
|
|
GOVERNMENT NOTES & BONDS - 25.3% |
|
|
|
2,500,000 |
|
Federal Farm Credit Banks | 5.1250 | 8/25/2016 | 2,743,547 |
1,000,000 |
|
Federal Home Loan Banks | 5.0000 | 11/17/2017 | 1,129,107 |
9,000,000 |
|
United States Treasury Note/Bond | 3.1250 | 5/15/2021 | 9,610,308 |
2,000,000 |
|
United States Treasury Note/Bond | 3.8750 | 5/15/2018 | 2,200,782 |
2,500,000 |
|
United States Treasury Note/Bond | 4.5000 | 2/15/2036 |
3,037,305 |
|
|
|
|
|
18,721,049 |
|
|
HAND/MACHINE TOOLS - 1.4 % |
|
|
|
1,000,000 |
|
Kennametal, Inc. | 3.8750 | 2/15/2022 |
1,002,802 |
|
|
|
|
|
|
|
|
HEALTHCARE-PRODUCTS - 0.7 % |
|
|
|
500,000 |
|
Covidien International Finance SA | 2.8000 | 6/15/2015 |
511,960 |
|
|
|
|
|
|
|
|
INSURANCE - 1.1 % |
|
|
|
750,000 |
|
Trinity Acquisition PLC | 4.6250 | 8/15/2023 |
778,454 |
|
|
|
|
|
|
|
|
IRON/STEEL - 1.4 % |
|
|
|
1,000,000 |
|
Glencore Funding LLC * | 4.1250 | 5/30/2023 |
1,006,201 |
|
|
|
|
|
|
|
|
MINING - 1.8 % |
|
|
|
750,000 |
|
Rio Tinto Finance USA Ltd. | 2.5000 | 5/20/2016 | 774,504 |
500,000 |
|
Teck Resources Ltd. | 6.0000 | 8/15/2040 |
530,461 |
|
|
|
|
|
1,304,965 |
|
|
MISCELLANEOUS MANUFACTURING - 1.7 % |
|
|
|
325,000 |
|
Eaton Corp. | 5.6000 | 5/15/2018 | 371,155 |
750,000 |
|
Tyco Electronics Group SA | 6.5500 | 10/1/2017 |
868,535 |
|
|
|
|
|
1,239,690 |
|
|
OIL&GAS - 6.7 % |
|
|
|
750,000 |
|
Husky Energy Inc. | 3.9500 | 4/15/2022 | 794,771 |
750,000 |
|
Marathon Oil Corp. | 6.0000 | 10/1/2017 | 858,097 |
1,000,000 |
|
Petrobras International Finance Co. | 3.5000 | 2/6/2017 | 1,029,000 |
1,000,000 |
|
Phillips 66 | 2.9500 | 5/1/2017 | 1,048,744 |
500,000 |
|
Transocean, Inc. | 6.0000 | 3/15/2018 | 565,239 |
500,000 |
|
Valero Energy Corp. | 6.6250 | 6/15/2037 |
623,276 |
|
|
|
|
|
4,919,127 |
|
|
PIPELINES - 8.1 % |
|
|
|
1,000,000 |
|
Boardwalk Pipelines LP | 5.7500 | 9/15/2019 | 1,101,886 |
800,000 |
|
DCP Midstream Operating LP | 2.7000 | 4/1/2019 | 811,237 |
1,000,000 |
|
Energy Transfer Partners LP | 6.7000 | 7/1/2018 | 1,171,933 |
500,000 |
|
Enterprise Products Operating LLC | 6.1250 | 10/15/2039 | 611,106 |
750,000 |
|
Kinder Morgan Energy Partners LP | 5.1250 | 11/15/2014 | 762,808 |
500,000 |
|
ONEOK, Inc. | 4.2500 | 2/1/2022 | 500,917 |
1,000,000 |
|
Plains All American Pipeline LP / PAA Finance Corp. | 3.6500 | 6/1/2022 |
1,034,426 |
|
|
|
|
|
5,994,313 |
|
|
REITS - 4.2 % |
|
|
|
900,000 |
|
ERP Operating LP | 5.1250 | 3/15/2016 | 966,285 |
1,000,000 |
|
Health Care REIT, Inc. | 3.7500 | 3/15/2023 | 1,004,962 |
1,000,000 |
|
Simon Property Group LP | 6.1250 | 5/30/2018 |
1,164,479 |
|
|
|
|
|
3,135,726 |
|
|
SEMICONDUCTORS - 2.4 % |
|
|
|
1,000,000 |
|
Altera Corp. | 1.7500 | 5/15/2017 | 1,011,866 |
740,000 |
|
Analog Devices Inc. | 3.0000 | 4/15/2016 |
767,474 |
|
|
|
|
|
1,779,340 |
|
|
TRANSPORTATION - 1.1 % |
|
|
|
750,000 |
|
Canadian National Railway Co. | 5.8000 | 6/1/2016 |
823,805 |
|
|
|
|
|
|
|
|
TOTAL BONDS & NOTES (Cost $69,480,989) |
|
|
70,649,787 |
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 3.9 % |
|
|
|
2,841,541 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (A) |
|
2,841,541 | |
|
|
(Cost $2,841,541) |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.5 % ( Cost - $72,322,530)(B) |
|
|
$73,491,328 |
|
|
OTHER ASSETS LESS LIABILITIES - 0.5 % |
|
|
390,924 |
|
|
NET ASSETS - 100.0% |
|
|
$73,882,252 |
|
|
|
|
|
|
* Non-income producing securities. |
|
| |||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $72,322,530 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | |||||
|
|
|
|
Unrealized appreciation | $ 2,062,518 |
|
|
|
|
Unrealized depreciation | (893,720) |
|
|
|
Net unrealized appreciation |
$ 1,168,798 |
|
|
|
Timothy Plan High Yield Bond Fund | ||||||
PORTFOLIO OF INVESTMENTS (Unaudited) | ||||||
June 30, 2014 | ||||||
Par Value |
|
|
|
Coupon Rate (%) |
Maturity |
Value |
|
|
|
|
|
|
|
|
| BONDS & NOTES - 96.6 % |
|
|
|
|
|
| AUTO MANUFACTURERS - 2.4 % |
|
|
|
|
$ 500,000 |
| Jaguar Land Rover Automotive PLC * |
| 8.1250 | 5/15/2021 | $ 565,000 |
500,000 |
| Oshkosh Corp. |
| 8.5000 | 3/1/2020 |
542,500 |
|
|
|
|
|
|
1,107,500 |
|
| BANKS - 1.3 % |
|
|
|
|
500,000 |
| Macquarie Bank Ltd. * |
| 6.6250 | 4/7/2021 |
574,775 |
|
|
|
|
|
|
|
|
| BUILDING MATERIALS - 3.8 % |
|
|
|
|
500,000 |
| Cemex Finance LLC * |
| 6.0000 | 4/1/2024 | 521,875 |
500,000 |
| Gibraltar Industries, Inc. |
| 6.2500 | 2/1/2021 | 522,500 |
100,000 |
| USG Corp. * |
|
5.8750 | 11/1/2021 | 106,125 |
500,000 |
| USG Corp. |
|
9.7500 | 1/15/2018 |
601,250 |
|
|
|
|
|
|
1,751,750 |
|
| CHEMICALS - 2.4 % |
|
|
|
|
500,000 |
| Braskem Finance Ltd. |
|
6.4500 | 2/3/2024 | 535,625 |
500,000 |
| PolyOne Corp. |
|
7.3750 | 9/15/2020 |
545,000 |
|
|
|
|
|
|
1,080,625 |
|
| COAL - 1.6 % |
|
|
|
|
500,000 |
|
Cloud Peak Energy Resources LLC / Cloud Peak Energy Finance Corp. | 8.5000 | 12/15/2019 | 537,500 | |
182,000 |
| SunCoke Energy, Inc. |
|
7.6250 | 8/1/2019 |
193,284 |
|
|
|
|
|
|
730,784 |
|
| COMMERCIAL SERVICES - 4.1 % |
|
|
|
|
500,000 |
| FTI Consulting, Inc. |
|
6.0000 | 11/15/2022 | 516,875 |
750,000 |
| Iron Mountain, Inc. |
|
6.0000 | 8/15/2023 | 814,688 |
500,000 |
| Iron Mountain, Inc. |
|
7.7500 | 10/1/2019 |
549,375 |
|
|
|
|
|
|
1,880,938 |
|
|
DISTRIBUTION/WHOLESALE - 1.4 % |
|
|
| |
500,000 |
| Global Partners LP/GLP Finance Corp. * |
|
6.2500 | 7/15/2022 | 501,875 |
125,000 |
| LKQ Corp. |
|
4.7500 | 5/15/2023 |
123,875 |
|
|
|
|
|
|
625,750 |
|
|
ELECTRICAL COMPONENTS & EQUIPMENT - 2.3 % |
|
|
| |
500,000 |
| Anixter, Inc. |
|
5.6250 | 5/1/2019 | 539,375 |
500,000 |
| General Cable Corp. * |
|
6.5000 | 10/1/2022 |
511,250 |
|
|
|
|
|
|
1,050,625 |
|
| FOOD - 2.3 % |
|
|
|
|
500,000 |
| HJ Heinz Co. |
|
4.2500 | 10/15/2020 | 503,750 |
500,000 |
| Land O' Lakes, Inc. * |
|
6.0000 | 11/15/2022 |
541,250 |
|
|
|
|
|
|
1,045,000 |
|
| FOREST PROCUTS & PAPER - 0.5 % |
|
|
|
|
250,000 |
| Cascades, Inc. * |
|
5.5000 | 7/15/2022 |
250,312 |
|
|
|
|
|
|
|
|
| GAS - 1.7 % |
|
|
|
|
250,000 |
|
NGL Energy Partners LP / NGL Energy Finance Corp. * | 5.1250 | 7/15/2019 | 251,875 | |
500,000 |
|
NGL Energy Partners LP / NGL Energy Finance Corp. * | 6.8750 | 10/15/2021 |
535,000 | |
|
|
|
|
|
|
786,875 |
|
| HAND/MACHINE TOOLS - 1.0 % |
|
|
|
|
400,000 |
|
Mcron Finance Sub LLC / Mcron Finance Corp. * | 8.3750 | 5/15/2019 | 440,000 | |
|
|
|
|
|
|
|
|
| HEALTHCARE-PRODUCTS - 2.2 % |
|
|
|
|
450,000 |
| Biomet, Inc. |
|
6.5000 | 8/1/2020 | 487,125 |
500,000 |
| Hologic, Inc. |
|
6.2500 | 8/1/2020 |
530,000 |
|
|
|
|
|
|
1,017,125 |
|
|
HOUSEHOLD PRODUCTS/WARES - 1.2 % |
|
|
| |
500,000 |
|
Reynolds Group Issuer, Inc. | 9.0000 | 4/15/2019 |
531,875 | |
|
|
|
|
|
|
|
|
| INSURANCE - 1.2 % |
|
|
|
|
500,000 |
| QBE Capital Funding III Ltd. * |
|
7.2500 | 5/24/2041 |
539,484 |
|
|
|
|
|
|
|
|
| INTERNET - 1.1 % |
|
|
|
|
500,000 |
| VeriSign, Inc. |
|
4.6250 | 5/1/2023 |
496,450 |
|
|
|
|
|
|
|
|
| IRON/STEEL - 3.6 % |
|
|
|
|
500,000 |
| ArcelorMittal |
|
6.7500 | 2/25/2022 | 562,500 |
500,000 |
| Steel Dynamics, Inc. |
|
5.2500 | 4/15/2023 | 520,000 |
500,000 |
| United States Steel Corp. |
|
7.5000 | 3/15/2022 |
548,750 |
|
|
|
|
|
|
1,631,250 |
|
| MINING - 1.1 % |
|
|
|
|
500,000 |
| Eldorado Gold Corp. * |
|
6.1250 | 12/15/2020 |
507,500 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS MANUFACTURING - 3.4 % |
|
|
| |
500,000 |
| Actuant Corp. |
|
5.6250 | 6/15/2022 | 527,500 |
500,000 |
| Amsted Industries, Inc. * |
|
5.0000 | 3/15/2022 | 501,875 |
500,000 |
| Bombardier, Inc. * |
|
6.1250 | 1/15/2023 |
517,500 |
|
|
|
|
|
|
1,546,875 |
|
| OIL & GAS - 16.0 % |
|
|
|
|
500,000 |
| Antero Resources Finance Corp. |
|
5.3750 | 11/1/2021 | 520,625 |
500,000 |
| Calumet Specialty Products Partners LP * |
|
6.5000 | 4/15/2021 | 512,500 |
500,000 |
| Denbury Resources, Inc. |
|
5.5000 | 5/1/2022 | 511,875 |
500,000 |
| EV Energy Partners LP |
|
8.0000 | 4/15/2019 | 527,500 |
500,000 |
| Kodiak Oil & Gas Corp. |
|
5.5000 | 2/1/2022 | 521,250 |
500,000 |
| Pacific Drilling SA * |
|
5.3750 | 6/1/2020 | 492,500 |
250,000 |
| Parker Drilling Co. * |
|
6.7500 | 7/15/2022 | 261,250 |
250,000 |
| Parker Drilling Co. |
|
7.5000 | 8/1/2020 | 271,250 |
500,000 |
| Resolute Energy Corp. |
|
8.5000 | 5/1/2020 | 523,750 |
1,000,000 |
| Rosetta Resources, Inc. |
|
5.8750 | 6/1/2024 | 1,041,250 |
500,000 |
| Samson Investment Co. * |
|
10.7500 | 2/15/2020 | 529,375 |
500,000 |
|
Summit Midstream Holdings LLC | 7.5000 | 7/1/2021 | 547,500 | |
500,000 |
| Tesoro Corp. |
|
5.3750 | 10/1/2022 | 525,000 |
500,000 |
| Tullow Oil PLC * |
|
6.0000 | 11/1/2020 |
521,250 |
|
|
|
|
|
|
7,306,875 |
|
| OIL & GAS SERVICES - 6.5 % |
|
|
|
|
500,000 |
| Basic Energy Services, Inc. |
|
7.7500 | 10/15/2022 | 561,250 |
500,000 |
| Calfrac Holdings LP * |
|
7.5000 | 12/1/2020 | 540,000 |
500,000 |
| CGG SA |
|
6.5000 | 6/1/2021 | 498,750 |
500,000 |
| Hiland Partners LP * |
|
5.5000 | 5/15/2022 | 507,500 |
350,000 |
| Hiland Partners LP * |
|
7.2500 | 10/1/2020 | 383,250 |
500,000 |
| Hornbeck Offshore Services, Inc. |
|
5.0000 | 3/1/2021 |
501,250 |
|
|
|
|
|
|
2,992,000 |
|
| PACKAGING & CONTAINERS - 1.6 % |
|
|
|
|
500,000 |
| Sealed Air Corp. * |
|
5.2500 | 4/1/2023 | 510,000 |
200,000 |
| Sealed Air Corp. * |
|
6.5000 | 12/1/2020 |
226,000 |
|
|
|
|
|
|
736,000 |
|
| PHARMACEUTICALS - 3.3 % |
|
|
|
|
415,000 |
| Catamaran Corp. |
|
4.7500 | 3/15/2021 | 420,187 |
500,000 |
| Hypermarcas SA * |
|
6.5000 | 4/20/2021 | 548,750 |
500,000 |
| Omnicare, Inc. |
|
7.7500 | 6/1/2020 |
541,250 |
|
|
|
|
|
|
1,510,187 |
|
| PIPELINES - 15.9 % |
|
|
|
|
500,000 |
|
Access Midstream Partners LP / ACMP Finance Corp. | 5.8750 | 4/15/2021 | 537,500 | |
500,000 |
|
Atlas Pipeline Partners LP / Atlas Pipeline Finance Corp. | 5.8750 | 8/1/2023 | 511,250 | |
500,000 |
|
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 6.0000 | 12/15/2020 | 527,500 | |
500,000 |
|
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. | 7.7500 | 4/1/2019 | 538,750 | |
500,000 |
| DCP Midstream LLC * |
|
5.8500 | 5/21/2043 | 477,500 |
500,000 |
| Energy Transfer Equity LP * |
|
5.8750 | 1/15/2024 | 525,000 |
500,000 |
|
Genesis Energy LP / Genesis Energy Finance Corp. | 5.7500 | 2/15/2021 | 522,500 | |
500,000 |
| Kinder Morgan, Inc. * |
|
5.0000 | 2/15/2021 | 521,250 |
500,000 |
| NuStar Logistics LP |
|
6.7500 | 2/1/2021 | 557,500 |
500,000 |
|
Regency Energy Partners LP / Regency Energy Finance Corp. | 4.5000 | 11/1/2023 | 497,500 | |
500,000 |
|
Rose Rock Midstream LP / Rose Rock Finance Corp. * | 5.6250 | 7/15/2022 | 507,500 | |
500,000 |
| SemGroup Corp. |
|
7.5000 | 6/15/2021 | 550,000 |
500,000 |
|
Targa Resources Partners LP / Targa Resources Partners Finance Corp. | 4.2500 | 11/15/2023 | 499,375 | |
500,000 |
|
Tesoro Logistics LP / Tesoro Logistics Finance Corp. | 5.8750 | 10/1/2020 |
530,000 | |
|
|
|
|
|
|
7,303,125 |
|
| REITS - 3.3 % |
|
|
|
|
125,000 |
| Corrections Corp. of America |
|
4.1250 | 4/1/2020 | 124,688 |
350,000 |
| DuPont Fabros Technology LP |
|
5.8750 | 9/15/2021 | 367,500 |
500,000 |
| Geo Group, Inc./The |
|
5.1250 | 4/1/2023 | 502,500 |
500,000 |
|
MPT Operating Partnership LP / MPT Finance Corp. | 6.3750 | 2/15/2022 |
538,750 | |
|
|
|
|
|
|
1,533,438 |
|
| RETAIL - 4.6 % |
|
|
|
|
500,000 |
|
AmeriGas Finance LLC / AmeriGas Finance Corp. | 7.0000 | 5/20/2022 | 556,250 | |
500,000 |
| Ferrellgas LP / Ferrellgas Finance Corp. * |
|
6.7500 | 1/15/2022 | 525,000 |
500,000 |
| Group 1 Automotive, Inc. * |
|
5.0000 | 6/1/2022 | 502,500 |
500,000 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp. |
|
5.5000 | 6/1/2024 |
507,500 |
|
|
|
|
|
|
2,091,250 |
|
| SOFTWARE - 1.2 % |
|
|
|
|
500,000 |
| MedAssets, Inc. |
|
8.0000 | 11/15/2018 |
531,250 |
|
|
|
|
|
|
|
|
| TELECOMMUNICATIONS - 4.4 % |
|
|
|
|
500,000 |
| CommScope, Inc. * |
|
5.0000 | 6/15/2021 | 512,500 |
500,000 |
| Digicel Ltd. * |
|
6.0000 | 4/15/2021 | 517,500 |
500,000 |
| Millicom International Cellular SA * |
|
4.7500 | 5/22/2020 | 502,500 |
500,000 |
| VimpelCom Holdings BV * |
|
5.9500 | 2/13/2023 |
496,875 |
|
|
|
|
|
|
2,029,375 |
|
| TRANSPORTATION - 1.2 % |
|
|
|
|
500,000 |
|
Martin Midstream Partners LP / Martin Midstream Finance Corp. | 7.2500 | 2/15/2021 |
532,500 | |
|
|
|
|
|
|
|
|
|
TOTAL BONDS & NOTES (Cost $42,335,130) |
|
|
44,161,493 | |
|
|
|
|
|
|
|
|
| MONEY MARKET FUND - 3.7 % |
|
|
|
|
1,677,031 |
|
Fidelity Institutional Money Market Portfolio, Institutional Class, 0.01% (A) |
|
|
| |
|
| (Cost $1,677,031) |
|
|
|
1,677,031 |
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.3 % (Cost $44,012,161) |
|
|
$ 45,838,524 | |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)% |
|
|
(115,718) | |
|
| TOTAL NET ASSETS - 100.0% |
|
|
|
$ 45,722,806 |
|
|
|
|
|
|
|
* 144A Security - Security exempt from registration under Rule 144A of the Securities Act of 1933. The 144A securities represent 37.2% 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, 2014. |
|
| ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $44,012,161 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | ||||||
|
|
|
|
|
Unrealized appreciation | $ 1,884,588 |
|
|
|
|
|
Unrealized depreciation | (58,225) |
|
|
|
|
Net unrealized appreciation |
$ 1,826,363 |
|
|
|
|
|
Timothy Plan Israel Common Values Fund |
| ||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| ||
|
|
June 30, 2014 |
| ||
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
|
|
COMMON STOCK - 95.3 % |
|
| |
|
|
AEROSPACE/DEFENSE - 2.6 % |
|
| |
7,001 |
| Elbit Systems Ltd. |
| $ 430,562 |
|
|
|
|
|
| |
|
|
BANKS - 9.8 % |
|
| |
13,400 |
| Bank Hapoalim BM |
|
389,672 |
|
76,000 |
| Bank Leumi Le-Israel BM * |
|
296,749 |
|
19,300 |
| First International Bank Of Israel Ltd. |
|
309,989 |
|
170,000 |
| Israel Discount Bank Ltd. * |
|
288,315 |
|
26,000 |
| Mizrahi Tefahot Bank Ltd. |
|
336,477 |
|
|
|
|
1,621,202 |
| |
|
|
BIOTECHNOLOGY - 0.9 % |
|
| |
21,000 |
|
Kamada Ltd. * |
|
149,520 |
|
|
|
|
|
| |
|
|
BUILDING MATERIALS - 2.1 % |
|
| |
7,200 |
|
Caesarstone Sdot-Yam Ltd. |
|
353,376 |
|
|
|
|
|
| |
|
|
CHEMICALS - 4.6 % |
|
| |
17,000 |
|
Frutarom Industries Ltd. |
|
425,236 |
|
37,400 |
|
Israel Chemicals Ltd. |
|
319,396 |
|
|
|
|
744,632 |
| |
|
|
COMMERCIAL SERVICES - 1.6 % |
|
| |
17,000 |
|
Nitsba Holdings 1995 Ltd. * |
|
257,382 |
|
|
|
|
|
| |
|
|
COMPUTERS - 0.9 % |
|
| |
24,210 |
|
Matrix IT Ltd. |
|
144,160 |
|
|
|
|
|
| |
|
|
ELECTRONICS - 4.1 % |
|
| |
13,296 |
|
Ituran Location and Control Ltd. |
|
324,024 |
|
23,500 |
|
Orbotech Ltd. * |
|
356,730 |
|
|
|
|
680,754 |
| |
|
|
ENERGY-ALTERNATE SOURCES - 2.0 % |
|
| |
43,300 |
|
Ormat Industries |
|
335,612 |
|
|
|
|
|
| |
|
|
FOOD - 4.7 % |
|
| |
13,000 |
|
Osem Investments Ltd. |
|
293,678 |
|
5,700 |
|
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. |
|
292,372 |
|
59,000 |
|
Shufersal Ltd. |
|
192,520 |
|
|
|
|
778,570 |
| |
|
|
HEALTHCARE-PRODUCTS - 2.0 % |
|
| |
26,491 |
|
PhotoMedex Inc. * |
|
324,515 |
|
|
|
|
|
| |
|
|
HOME BUILDERS - 1.7 % |
|
| |
1,000 |
|
Bayside Land Corp. |
|
279,591 |
|
|
|
|
|
| |
|
|
INTERNET - 2.1 % |
|
| |
34,000 |
|
Perion Network Ltd. * |
|
343,400 |
|
|
|
|
|
| |
|
|
INVESTMENT COMPANIES - 2.1 % |
|
| |
600 |
|
Israel Corp. Ltd/The * |
|
342,052 |
|
|
|
|
|
| |
|
|
OIL&GAS - 11.9 % |
|
| |
290,000 |
|
Avner Oil Exploration LP |
|
293,949 |
|
61,000 |
|
Delek Drilling - LP |
|
348,998 |
|
1,536,664 |
|
Isramco Negev 2 LP * |
|
342,795 |
|
4,700 |
|
Noble Energy, Inc. |
|
364,062 |
|
1,900 |
|
Paz Oil Co. Ltd. |
|
307,386 |
|
2,100,000 |
|
Ratio Oil Exploration 1992 LP * |
|
307,410 |
|
|
|
|
1,964,600 |
| |
|
|
PHARMACEUTICALS - 4.7 % |
|
| |
39,000 |
|
OPKO Health, Inc. * |
|
344,760 |
|
3,100 |
|
Taro Pharmaceutical Industries Ltd. * |
|
434,744 |
|
|
|
|
779,504 |
| |
|
|
REAL ESTATE - 13.4 % |
|
| |
45,000 |
|
Alony Hetz Properties & Investments Ltd. |
|
352,725 |
|
105,000 |
|
Amot Investments Ltd. |
|
359,461 |
|
7,500 |
|
Azrieli Group |
|
247,135 |
|
21,000 |
|
Gazit-Globe Ltd. |
|
281,690 |
|
162,000 |
|
Industrial Buildings Corp. * |
|
333,514 |
|
34,000 |
|
Jerusalem Economy Ltd. |
|
326,982 |
|
11,366 |
|
Melisron Ltd. |
|
309,881 |
|
|
|
|
2,211,388 |
| |
|
|
SEMICONDUCTORS - 4.5 % |
|
| |
30,533 |
|
Nova Measuring Instruments Ltd. * |
|
366,701 |
|
40,100 |
|
Tower Semiconductor Ltd. * |
|
364,108 |
|
|
|
|
730,809 |
| |
|
|
SOFTWARE - 8.0 % |
|
| |
5,100 |
|
Check Point Software Technologies Ltd. * |
|
341,853 |
|
42,900 |
|
Magic Software Enterprises Ltd. |
|
321,321 |
|
18,000 |
|
Radware Ltd. * |
|
303,660 |
|
7,000 |
|
Verint Systems, Inc. * |
|
343,350 |
|
|
|
|
1,310,184 |
| |
|
|
TELECOMMUNICATIONS - 11.6 % |
|
| |
15,400 |
|
Allot Communications Ltd. * |
|
200,970 |
|
28,200 |
|
Cellcom Israel Ltd. |
|
340,938 |
|
14,000 |
|
EZchip Semiconductor Ltd. * |
|
360,780 |
|
8,700 |
|
NICE Systems Ltd. - ADR |
|
355,047 |
|
43,000 |
|
Partner Communications Co. Ltd. - ADR * |
|
335,830 |
|
7,400 |
|
Silicom Ltd. |
|
310,430 |
|
|
|
|
1,903,995 |
| |
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Cost $12,794,144) |
15,685,808 |
| |
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 5.4 % |
|
| |
895,133 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (A) |
895,133 |
| |
|
|
(Cost $895,133) |
|
| |
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.7 % (Cost $13,689,277) | $16,580,941 |
| |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.7) % |
(116,116) |
| |
|
|
NET ASSETS - 100.0% |
$16,464,825 |
| |
|
|
|
|
| |
*Non-income producing securities. |
|
| |||
(ADR) American Depositary Receipt. |
|
| |||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
| |||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $14,392,727 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: |
| ||||
|
|
|
Unrealized appreciation | 2,581,770 |
|
|
|
|
Unrealized depreciation | (393,556) |
|
|
|
|
Net unrealized appreciation |
$ 2,188,214 |
|
|
|
|
|
| Timothy Plan Defensive Strategies Fund |
| |
|
| PORTFOLIO OF INVESTMENTS (Unaudited) |
| |
|
| June 30, 2014 |
| |
Shares |
|
|
|
Value |
|
|
|
|
|
|
| COMMON STOCK - 25.3 % |
| |
|
| CHEMICALS - 5.6 % |
| |
3,996 |
| Agrium, Inc. |
| $ 366,153 |
959 |
| American Vanguard Corp. |
| 12,678 |
4,448 |
| CF Industries Holdings, Inc. |
| 1,069,877 |
1,323 |
| FMC Corp. |
| 94,184 |
5,759 |
| Intrepid Potash, Inc. * |
| 96,521 |
11,989 |
| K+S AG |
| 394,128 |
7,761 |
| Mosaic Co./The |
| 383,782 |
19,011 |
| Potash Corp. of Saskatchewan, Inc. |
| 721,658 |
2,135 |
| Rayonier Advanced Materials, Inc. * |
| 82,744 |
8,356 |
| Sociedad Quimica y Minera de Chile SA - ADR |
|
244,914 |
4,328 |
| Syngenta AG |
|
323,734 |
5,904 |
| Uralkali OJSC |
|
135,237 |
|
|
|
3,925,610 | |
|
| COAL - 0.0 % |
| |
1,103 |
| Peabody Energy Corp. |
|
18,034 |
|
|
|
| |
|
| ENVIRONMENTAL CONTROL - 0.1 % |
| |
3,171 |
| Darling Ingredients, Inc. * |
|
66,274 |
|
|
|
| |
|
| FOOD - 0.7 % |
| |
888 |
| Hormel Foods Corp. |
|
43,823 |
2,468 |
| Ingredion, Inc. |
|
185,199 |
6,770 |
| Tyson Foods, Inc. |
|
254,146 |
|
|
|
483,168 | |
|
| IRON/STEEL - 1.4 % |
| |
1,178 |
| Allegheny Technologies, Inc. |
|
53,128 |
6,601 |
| JFE Holdings, Inc. |
|
136,242 |
55,828 |
| Nippon Steel & Sumitomo Metal Corp. |
|
178,544 |
979 |
| POSCO - ADR |
|
72,877 |
11,215 |
| Severstal OAO |
|
91,888 |
2,358 |
| ThyssenKrupp AG * |
|
68,721 |
27,955 |
| Vale SA |
|
369,844 |
|
|
|
971,244 | |
|
| MACHINERY-CONSTR&MINING - 0.2 % |
| |
1,899 |
| Joy Global, Inc. |
|
116,941 |
|
|
|
| |
|
| MACHINERY-DIVERSIFIED - 0.3 % |
| |
3,416 |
| AGCO Corp. |
|
192,047 |
2,315 |
| CNH Industrial NV |
|
23,659 |
|
|
|
215,706 |
|
|
|
|
| MINING - 5.2 % |
| |
3,092 |
| Agnico Eagle Mines Ltd. |
| 118,424 |
3,102 |
| Allied Nevada Gold Corp. * |
| 11,664 |
7,252 |
| Anglo American PLC |
| 177,364 |
5,793 |
| AngloGold Ashanti Ltd. * |
| 99,698 |
2,159 |
| Antofagasta PLC |
| 28,174 |
2,009 |
| BHP Billiton Ltd. |
| 137,516 |
234 |
| BHP Billiton PLC |
| 15,264 |
451 |
| Cameco Corp. |
| 8,844 |
8,295 |
| Cia de Minas Buenaventura SAA - ADR |
| 97,964 |
1,877 |
| Coeur Mining, Inc. * |
| 17,231 |
7,567 |
| Eldorado Gold Corp. |
| 57,812 |
1,198 |
| First Quantum Minerals Ltd. |
| 25,655 |
15,487 |
| Freeport-McMoRan Copper & Gold, Inc. |
| 565,275 |
47,005 |
| Glencore PLC |
| 261,718 |
8,495 |
| Goldcorp, Inc. |
| 237,096 |
7,047 |
| Harmony Gold Mining Co. Ltd. * |
| 20,930 |
5,932 |
| Hecla Mining Co. |
| 20,465 |
6,495 |
| IAMGOLD Corp. |
| 26,759 |
549 |
| Kazakhmys PLC * |
| 2,855 |
39,028 |
| Kinross Gold Corp. * |
| 161,576 |
5,670 |
| MMC Norilsk Nickel OJSC |
| 112,890 |
4,211 |
| New Gold, Inc. * |
| 26,824 |
4,098 |
| Newmont Mining Corp. |
| 104,253 |
359 |
| Pan American Silver Corp. |
| 5,511 |
2,323 |
| Randgold Resources Ltd. - ADR |
| 196,526 |
8,492 |
| Rio Tinto PLC |
| 460,946 |
136 |
| Royal Gold, Inc. |
| 10,352 |
987 |
| Sesa Sterlite Ltd. |
| 19,108 |
11,446 |
| Silver Wheaton Corp. |
| 300,687 |
5,122 |
| Southern Copper Corp. |
| 155,555 |
3,943 |
| Teck Resources Ltd. |
| 90,175 |
7,265 |
| Yamana Gold, Inc. |
| 59,718 |
|
|
| 3,634,829 | |
|
| OIL&GAS - 9.3 % |
| |
492 |
| Anadarko Petroleum Corp. |
| 53,859 |
2,775 |
| Apache Corp. |
| 279,220 |
14,836 |
| BG Group PLC |
| 313,369 |
1,428 |
| Canadian Natural Resources Ltd. |
| 65,559 |
1,966 |
| Cenovus Energy, Inc. |
| 63,818 |
901 |
| Chesapeake Energy Corp. |
| 28,003 |
9,965 |
| ConocoPhillips |
| 854,300 |
2,644 |
| Devon Energy Corp. |
| 209,934 |
1,870 |
| Encana Corp. |
| 44,338 |
1,233 |
| Ensco PLC |
| 68,518 |
1,914 |
| EOG Resources, Inc. |
| 223,670 |
23,500 |
| Inpex Corp. |
| 357,220 |
15,277 |
| Lukoil OAO |
| 912,190 |
14,378 |
| Marathon Oil Corp. |
| 573,970 |
647 |
| Noble Energy, Inc. |
| 50,117 |
901 |
| NOVATEK OAO |
| 112,084 |
5,432 |
| Occidental Petroleum Corp. |
| 557,486 |
|
|
|
7,011 |
| Petroleo Brasileiro SA - ADR |
| 102,571 |
244 |
| Pioneer Natural Resources Co. |
| 56,074 |
2,957 |
| Reliance Industries Ltd. ** |
| 99,503 |
13,084 |
| Rosneft OAO - GDR * |
| 95,709 |
2,812 |
| Southwestern Energy Co. * |
| 127,918 |
2,782 |
| Statoil ASA - ADR |
| 85,769 |
14,122 |
| Total SA |
| 1,020,322 |
2,350 |
| Transocean Ltd. |
| 105,820 |
2,181 |
| Valero Energy Corp. |
| 109,268 |
|
|
| 6,570,609 | |
|
| OIL&GAS SERVICES - 2.0 % |
| |
2,827 |
| Baker Hughes, Inc. |
| 210,470 |
1,449 |
| Cameron International Corp. * |
| 98,112 |
1,954 |
| FMC Technologies, Inc. * |
| 119,331 |
11,405 |
| Halliburton Co. |
| 809,869 |
2,210 |
| National Oilwell Varco, Inc. |
| 181,993 |
552 |
| NOW, Inc./DE * |
| 19,988 |
|
|
| 1,439,763 | |
|
| PIPELINES - 0.3 % |
| |
3,591 |
| Kinder Morgan, Inc./DE |
| 130,210 |
1,592 |
| TransCanada Corp. |
| 76,089 |
|
|
| 206,299 | |
|
| WATER - 0.2 % |
| |
10,864 |
| Cia de Saneamento Basico do Estado de Sao Paulo |
| 116,462 |
|
|
|
| |
|
| TOTAL COMMON STOCK (Cost $16,869,847) | 17,764,939 | |
|
|
|
|
|
|
| REITS - 30.1 % |
| |
5,000 |
| Acadia Realty Trust |
| 140,450 |
4,000 |
| Apartment Investment & Management Co. |
| 129,080 |
4,350 |
| AvalonBay Communities, Inc. |
| 618,527 |
8,600 |
| Boston Properties, Inc. |
| 1,016,348 |
10,700 |
| Brandywine Realty Trust |
| 166,920 |
5,700 |
| Camden Property Trust |
| 405,555 |
13,000 |
| CBL & Associates Properties, Inc. |
| 247,000 |
31,100 |
| DDR Corp. |
| 548,293 |
39,700 |
| DiamondRock Hospitality Co. |
| 508,954 |
10,300 |
| Douglas Emmett, Inc. |
| 290,666 |
16,600 |
| Education Realty Trust, Inc. |
| 178,284 |
4,700 |
| Equity Lifestyle Properties, Inc. |
| 207,552 |
16,300 |
| Equity Residential |
| 1,026,900 |
4,754 |
| Essex Property Trust, Inc. |
| 879,062 |
7,800 |
| Extra Space Storage, Inc. |
| 415,350 |
2,500 |
| Federal Realty Investment Trust |
| 302,300 |
10,100 |
| FelCor Lodging Trust, Inc. |
| 106,151 |
18,800 |
| First Industrial Realty Trust, Inc. |
| 354,192 |
7,400 |
| First Potomac Realty Trust |
| 97,088 |
17,700 |
| HCP, Inc. |
| 732,426 |
8,700 |
| Health Care REIT, Inc. |
| 545,229 |
5,400 |
| Highwoods Properties, Inc. |
| 226,530 |
20,300 |
| Hospitality Properties Trust |
| 617,120 |
5,500 |
| Kilroy Realty Corp. |
| 342,540 |
|
|
|
27,000 |
| Kimco Realty Corp. |
| 620,460 |
23,700 |
| Lexington Realty Trust |
| 260,937 |
11,000 |
| Liberty Property Trust |
| 417,230 |
13,963 |
| Macerich Co./The |
| 932,030 |
4,208 |
| Mid-America Apartment Communities, Inc. |
| 307,394 |
6,900 |
| National Retail Properties, Inc. |
| 256,611 |
1,183 |
| Plum Creek Timber Co., Inc. |
| 53,353 |
21,494 |
| Prologis, Inc. |
| 883,189 |
4,000 |
| PS Business Parks, Inc. |
| 333,960 |
5,700 |
| Public Storage |
| 976,695 |
6,406 |
| Rayonier, Inc. |
| 227,733 |
3,700 |
| Regency Centers Corp. |
| 206,016 |
13,029 |
| Simon Property Group, Inc. |
| 2,166,462 |
8,150 |
| SL Green Realty Corp. |
| 891,692 |
27,200 |
| Strategic Hotels & Resorts, Inc. * |
| 318,512 |
7,200 |
| Summit Hotel Properties, Inc. |
| 76,320 |
5,700 |
| Taubman Centers, Inc. |
| 432,117 |
14,200 |
| UDR, Inc. |
| 406,546 |
13,259 |
| Ventas, Inc. |
| 849,902 |
6,514 |
| Washington Prime Group, Inc. * |
| 122,072 |
10,100 |
| Weingarten Realty Investors |
| 331,684 |
|
|
|
| |
|
| TOTAL REITS (Cost $17,945,547) |
| 21,173,432 |
|
|
|
|
|
|
|
|
|
|
|
| EXCHANGE TRADED FUNDS - 8.5 % |
| |
16,800 |
| iShares Silver Trust * |
| 340,200 |
73,900 |
| PowerShares DB Agriculture Fund * |
| 2,029,294 |
78,700 |
| PowerShares DB Base Metals Fund * |
| 1,336,326 |
47,300 |
| PowerShares DB Commodity Index Tracking Fund * | 1,257,234 | |
22,500 |
| PowerShares DB Energy Fund * |
| 691,875 |
2,250 |
| SPDR Gold Shares * |
| 288,090 |
|
|
|
|
|
|
| TOTAL EXCHANGE TRADED FUNDS (Cost $6,166,174) | 5,943,019 | |
|
|
|
|
|
|
| BONDS & NOTES - 31.4 % |
| |
|
| CHEMICALS - 0.6 % |
| |
400,000 |
| LYB International Financance BV, 4%, 7/15/2023 |
| 420,724 |
|
|
|
| |
|
| HAND/MACHINE TOOLS - 0.7 % |
| |
500,000 |
| Kennametal Inc., 3.875%, 2/15/2022 |
| 501,401 |
|
|
|
| |
|
| GOVERNMENT MORTGAGE-BACKED SECURITIES - 3.0 % |
| |
937,385 |
| Ginnie Mae MA0155, 4.00%, 6/20/2042 |
| 1,005,153 |
460,962 |
| GNMA Pool 4947, 5.00%, 2/20/2041 |
| 511,877 |
516,190 |
| GNMA Pool 5204, 4.50%, 10/20/2041 |
| 564,846 |
|
|
|
| 2,081,876 |
|
| OIL&GAS - 0.7 % |
| |
500,000 |
| Petrobras International Finance Co., 3.50%, 2/06/2017 | 514,500 |
|
|
Timothy Plan Strategic Growth Fund |
| ||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| ||
|
|
June 30, 2014 |
| ||
Shares |
|
|
|
Value | |
|
|
|
|
| |
|
|
MUTUAL FUNDS - 99.9 % (A) |
|
| |
294,346 |
|
Timothy Plan Aggressive Growth Fund |
|
$ 2,778,622 | |
501,460 |
|
Timothy Plan Defensive Strategies Fund |
|
6,007,493 | |
254,058 |
|
Timothy Plan Emerging Markets Fund |
|
2,830,209 | |
425,722 |
|
Timothy Plan Growth & Income Fund * |
|
4,768,087 | |
617,925 |
|
Timothy Plan High Yield Bond Fund |
|
6,055,660 | |
765,696 |
|
Timothy Plan International Fund |
|
7,304,739 | |
181,757 |
|
Timothy Plan Israel Common Values Fund |
|
2,362,840 | |
741,630 |
|
Timothy Plan Large/Mid Cap Growth Fund |
|
6,459,597 | |
308,993 |
|
Timothy Plan Large/Mid-Cap Value Fund |
|
6,195,314 | |
144,445 |
|
Timothy Plan Small-Cap Value Fund |
|
3,021,789 | |
|
|
|
|
| |
|
|
TOTAL MUTUAL FUNDS (Cost $39,716,257) |
|
47,784,350 | |
|
|
|
|
| |
|
|
MONEY MARKET FUND - 0.2 % |
|
| |
72,148 |
|
Fidelity Institutional Money Market Portfolio Institutional Class, 0.01% (B) |
| ||
|
|
(Cost $72,148) |
|
72,148 | |
|
|
|
|
| |
|
|
TOTAL INVESTMENTS - 100.1 % (Cost $39,788,405)(B) | $ 47,856,498 | ||
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1) % |
(55,893) | ||
|
|
TOTAL NET ASSETS - 100.0% |
|
$ 47,800,605 | |
|
|
|
|
| |
* Non-income producing securities. |
|
| |||
(A) Affiliated Funds - Class A. |
|
| |||
(B) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
| |||
(C) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $41,731,287 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: | |||||
|
|
|
Unrealized appreciation | $ 6,217,170 | |
|
|
|
Unrealized depreciation | (91,959) | |
|
|
|
Net unrealized appreciation |
$ 6,125,211 |
|
|
|
|
|
Timothy Plan Conservative Growth Fund |
| ||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| ||
|
|
June 30, 2014 |
| ||
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
|
|
MUTUAL FUNDS - 99.9 % (A) |
|
| |
147,798 |
| Timothy Plan Aggressive Growth Fund |
|
$ 1,395,211 |
|
617,788 |
| Timothy Plan Defensive Strategies Fund |
|
7,401,097 |
|
163,019 |
| Timothy Plan Emerging Markets Fund |
|
1,816,029 |
|
1,687,971 |
| Timothy Plan Fixed Income Fund |
|
17,673,052 |
|
546,333 |
| Timothy Plan Growth & Income Fund * |
|
6,118,935 |
|
528,659 |
| Timothy Plan High Yield Bond Fund |
|
5,180,860 |
|
322,178 |
| Timothy Plan International Fund |
|
3,073,576 |
|
186,615 |
| Timothy Plan Israel Common Values Fund |
|
2,425,995 |
|
652,095 |
| Timothy Plan Large/Mid Cap Growth Fund |
|
5,679,748 |
|
358,388 |
|
Timothy Plan Large/Mid-Cap Value Fund |
|
7,185,685 |
|
155,673 |
|
Timothy Plan Small-Cap Value Fund |
|
3,256,678 |
|
|
|
|
|
|
|
|
|
TOTAL MUTUAL FUNDS ( Cost - $54,438,755) |
61,206,866 |
| |
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 0.4 % |
|
| |
|
|
|
|
| |
223,659 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (B) |
223,659 |
| |
|
|
(Cost - $223,659) |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.3 % ( Cost - $54,662,414) | $ 61,430,525 |
| |
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3) % |
(196,076) |
| |
|
|
NET ASSETS - 100.0% |
$ 61,234,449 |
| |
|
|
|
|
| |
* Non-income producing securities. |
|
|
| ||
(A) Affiliated Funds - Class A. |
|
|
| ||
(B) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
|
| ||
(C) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $55,865,325 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: |
| ||||
|
|
|
Unrealized appreciation | $ 5,919,759 |
|
|
|
|
Unrealized depreciation | (354,559) |
|
|
|
|
Net unrealized appreciation |
$ 5,565,200 |
|
|
|
|
|
|
Timothy Plan Emerging Markets Fund |
| ||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| ||
|
|
June 30, 2014 |
| ||
Shares |
|
|
|
Value |
|
|
|
|
|
|
|
|
|
COMMON STOCK - 91.8 % |
|
| |
|
|
AEROSPACE/DEFENSE - 2.5 % |
|
| |
7,820 |
| Embraer SA - ADR |
|
$ 284,883 |
|
|
|
|
|
| |
|
|
AGRICULTURE - 1.7 % |
|
| |
20,140 |
| Adecoagro SA * |
|
190,122 |
|
|
|
|
|
| |
|
|
AUTO MANUFACTURERS - 3.5 % |
|
| |
2,050 |
| Hyundai Motor Co. |
| 306,941 |
|
1,800 |
| Kia Motors Corp. |
|
100,688 |
|
|
|
|
407,629 |
| |
|
|
AUTO PARTS&EQUIPMENT - 3.3 % |
|
| |
4,270 |
|
China Yuchai International Ltd. |
|
90,610 |
|
1,030 |
|
Hyundai Mobis |
|
289,097 |
|
|
|
|
379,707 |
| |
|
|
BANKS - 16.4 % |
|
| |
7,600 |
|
Banco Bradesco SA |
|
111,015 |
|
6,000 |
|
Banco Bradesco SA |
|
87,398 |
|
19,800 |
|
Banco do Brasil SA |
|
222,825 |
|
10,280 |
|
Erste Group Bank AG |
|
332,387 |
|
27,260 |
|
Sberbank of Russia |
|
277,234 |
|
6,450 |
|
Standard Chartered PLC |
|
131,715 |
|
13,440 |
|
TCS Group Holding PLC - GDR * |
|
88,032 |
|
78,000 |
|
Turkiye Garanti Bankasi AS |
|
304,866 |
|
144,200 |
|
Turkiye Vakiflar Bankasi Tao |
|
337,894 |
|
|
|
|
1,893,366 |
| |
|
|
BUILDING MATERIALS - 2.1 % |
|
| |
15,284 |
|
Cemex SAB de CV * |
|
202,207 |
|
145,724 |
|
Desarrolladora Homex SAB de CV * |
|
19,183 |
|
373,450 |
|
Urbi Desarrollos Urbanos SAB de CV * |
|
23,313 |
|
|
|
|
244,703 |
| |
|
|
CHEMICALS - 3.4 % |
|
| |
358,500 |
|
Yingde Gases Group Co. Ltd. |
|
389,015 |
|
|
|
|
|
| |
|
|
DISTRIBUTION/WHOLESALE - 2.2 % |
|
| |
60,530 |
|
Aygaz AS |
|
258,558 |
|
|
|
|
|
| |
|
|
DIVERSIFIED FINANCIAL SERVICES - 6.6 % |
|
| |
6,400 |
|
Hana Financial Group, Inc. |
|
237,192 |
|
6,840 |
|
KB Financial Group, Inc. |
|
237,951 |
|
6,100 |
|
Shinhan Financial Group Co. Ltd. |
|
282,441 |
|
|
|
|
757,584 |
| |
|
|
ELECTRIC - 6.7 % |
|
| |
45,630 |
|
Centrais Eletricas Brasileiras SA |
|
133,240 |
|
10,480 |
|
Cia Paranaense de Energia - ADR |
|
160,449 |
|
8,220 |
|
Reliance Infrastructure Ltd. |
|
307,839 |
|
93,880 |
|
RusHydro JSC |
|
175,556 |
|
|
|
|
777,084 |
| |
|
|
FOOD - 7.5 % |
|
| |
344,000 |
|
First Pacific Co. Ltd/Hong Kong |
|
384,377 |
|
90 |
|
Lotte Confectionery Co. Ltd. |
|
171,845 |
|
115,100 |
|
Marfrig Global Foods SA * |
|
310,248 |
|
|
|
|
866,470 |
| |
|
|
HOLDING COMPANIES-DIVERS - 0.6 % |
|
| |
10,260 |
|
Haw Par Corp. Ltd. |
|
70,364 |
|
|
|
|
|
| |
|
|
IRON/STEEL - 4.4 % |
|
| |
1,670 |
|
POSCO |
|
501,740 |
|
|
|
|
|
| |
|
|
MULTI-NATIONAL - 1.7 % |
|
| |
6,490 |
|
Banco Latinoamericano de Comercio Exterior SA |
|
192,558 |
|
|
|
|
|
| |
|
|
OIL&GAS - 10.5 % |
|
| |
7,264 |
|
Lukoil OAO |
|
434,532 |
|
32,299 |
|
Petroleo Brasileiro SA |
|
505,157 |
|
328,500 |
|
Surgutneftegas OAO |
|
270,728 |
|
|
|
|
1,210,417 |
| |
|
|
PHARMACEUTICALS - 0.8 % |
|
| |
89,780 |
|
Selcuk Ecza Deposu Ticaret ve Sanayi A.S. |
|
95,664 |
|
|
|
|
|
| |
|
|
REITS - 3.1 % |
|
| |
171,310 |
|
Mexico Real Estate Management SA de CV |
|
355,042 |
|
|
|
|
|
| |
|
|
RETAIL - 6.6 % |
|
| |
1,910,000 |
|
Bosideng International Holdings Ltd. |
|
285,873 |
|
50,000 |
|
Chow Tai Fook Jewellery Group Ltd. |
|
76,384 |
|
88,500 |
|
Lifestyle International Holdings Ltd. |
|
173,339 |
|
75,000 |
|
Luk Fook Holdings International Ltd. |
|
219,669 |
|
|
|
|
755,265 |
| |
|
|
SEMICONDUCTORS - 4.4 % |
|
| |
389 |
|
Samsung Electronics Co. Ltd. |
|
508,241 |
|
|
|
|
|
| |
|
|
TELECOMMUNICATIONS - 1.9 % |
|
| |
510,700 |
|
XL Axiata Tbk PT |
|
219,332 |
|
|
|
|
|
| |
|
|
TEXTILES - 0.6 % |
|
| |
136,000 |
|
Weiqiao Textile Co. |
|
67,032 |
|
|
|
|
|
| |
|
|
TRANSPORTATION - 1.3 % |
|
| |
13,000 |
|
Globaltrans Investment PLC - ADR |
|
148,850 |
|
|
|
|
|
| |
|
|
TOTAL COMMON STOCK (Cost $10,090,642) |
10,573,626 |
| |
|
|
|
|
|
|
|
|
MONEY MARKET FUND - 7.1 % |
|
| |
|
|
|
|
| |
817,112 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio, 0.01% (A) (Cost $817,112) |
817,112 |
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 98.9 % (Cost $10,907,754) | $ 11,390,738 |
| |
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES - 1.1 % |
126,555 |
| |
|
|
NET ASSETS - 100.0% |
$ 11,517,293 |
| |
|
|
|
|
| |
* Non-income producing securities. |
|
|
| ||
(ADR) American Depositary Receipt. |
|
|
|
| |
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
|
| ||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $10,920,259 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: |
| ||||
|
|
|
Unrealized appreciation | $ 1,338,310 |
|
|
|
|
Unrealized depreciation | (867,831) |
|
|
|
Net unrealized appreciation |
$ 470,479 |
|
|
|
|
|
|
Timothy Plan Growth & Income Fund |
| |||
|
|
PORTFOLIO OF INVESTMENTS (Unaudited) |
| |||
|
|
June 30, 2014 |
| |||
Shares |
|
|
|
|
|
Value |
|
|
|
|
|
|
|
|
|
COMMON STOCK - 43.0 % |
|
|
| |
|
|
AEROSPACE/DEFENSE - 0.7 % |
|
|
| |
1,300 |
|
Alliant Techsystems, Inc. |
|
|
$ 174,096 | |
|
|
|
|
|
| |
|
|
AUTO PARTS&EQUIPMENT - 2.1 % |
|
|
| |
5,000 |
|
Goodyear Tire & Rubber Co./The |
|
| 138,900 | |
3,300 |
|
Magna International, Inc. |
|
|
355,575 | |
|
|
|
|
|
494,475 | |
|
|
BANKS - 0.6 % |
|
|
| |
5,145 |
|
Southside Bancshares, Inc. |
|
|
148,999 | |
|
|
|
|
|
| |
|
|
BEVERAGES - 1.0 % |
|
|
| |
4,000 |
|
Dr Pepper Snapple Group, Inc. |
|
|
234,320 | |
|
|
|
|
|
| |
|
|
BIOTECHNOLOGY - 0.4 % |
|
|
| |
10,000 |
|
PDL BioPharma, Inc. |
|
|
96,800 | |
|
|
|
|
|
| |
|
|
CHEMICALS - 4.1 % |
|
|
| |
8,000 |
|
Aceto Corp. |
|
|
145,120 | |
900 |
|
CF Industries Holdings, Inc. |
|
|
216,477 | |
5,000 |
|
Huntsman Corp. |
|
|
140,500 | |
5,000 |
|
Olin Corp. |
|
|
134,600 | |
4,000 |
|
Westlake Chemical Corp. |
|
|
335,040 | |
|
|
|
|
|
971,737 | |
|
|
COMMERCIAL SERVICES - 5.7 % |
|
|
| |
2,800 |
|
Deluxe Corp. |
|
|
164,024 | |
5,000 |
|
DeVry Education Group, Inc. |
|
|
211,700 | |
7,000 |
|
H&R Block, Inc. |
|
|
234,640 | |
18,200 |
|
RR Donnelley & Sons Co. |
|
|
308,672 | |
3,900 |
|
United Rentals, Inc. |
|
|
408,447 | |
|
|
|
|
|
1,327,483 | |
|
|
COMPUTERS - 1.5 % |
|
|
| |
3,900 |
|
Western Digital Corp. |
|
|
359,970 | |
|
|
|
|
|
| |
|
|
DISTRIBUTION/WHOLESALE - 0.7 % |
|
|
| |
2,800 |
|
Arrow Electronics, Inc. |
|
|
169,148 | |
|
|
|
|
|
| |
|
|
ELECTRIC - 2.2 % |
|
|
| |
5,200 |
|
IDACORP, Inc. |
|
|
300,716 | |
5,700 |
|
Westar Energy, Inc. |
|
|
217,683 | |
|
|
|
|
|
518,399 |
|
|
|
|
|
ELECTRONICS - 1.1 % |
|
|
| |
5,600 |
|
Avnet, Inc. |
|
|
248,136 | |
|
|
|
|
|
| |
|
|
GAS - 1.0 % |
|
|
| |
4,400 |
|
UGI Corp. |
|
|
222,200 | |
|
|
|
|
|
| |
|
|
HOUSEHOLD PRODUCTS/WARES - 2.0 % |
|
|
| |
3,900 |
|
Helen of Troy Ltd. |
|
|
236,457 | |
4,000 |
|
Jarden Corp. |
|
|
237,400 | |
|
|
|
|
|
473,857 | |
|
|
INSURANCE - 5.6 % |
|
|
| |
3,000 |
|
American Financial Group, Inc. |
|
|
178,680 | |
1,500 |
|
FBL Financial Group, Inc. |
|
|
69,000 | |
7,800 |
|
Montpelier Re Holdings Ltd. |
|
|
249,210 | |
7,400 |
|
Protective Life Corp. |
|
|
513,042 | |
9,100 |
|
Unum Group |
|
|
316,316 | |
|
|
|
|
|
1,326,248 | |
|
|
MISCELLANEOUS MANUFACTUR - 2.8 % |
|
|
| |
4,700 |
|
American Railcar Industries, Inc. |
|
|
318,519 | |
6,000 |
|
Smith & Wesson Holding Corp. |
|
|
87,240 | |
1,400 |
|
Sturm Ruger & Co., Inc. |
|
|
82,614 | |
4,000 |
|
Trinity Industries, Inc. |
|
|
174,880 | |
|
|
|
|
|
663,253 | |
|
|
OIL&GAS - 4.3 % |
|
|
| |
2,800 |
|
Cimarex Energy Co. |
|
|
401,688 | |
2,800 |
|
ConocoPhillips |
|
|
240,044 | |
3,300 |
|
HollyFrontier Corp. |
|
|
144,177 | |
4,300 |
|
Valero Energy Corp. |
|
|
215,430 | |
|
|
|
|
|
1,001,339 | |
|
|
OIL&GAS SERVICES - 2.4 % |
|
|
| |
3,000 |
|
Baker Hughes, Inc. |
|
|
223,350 | |
7,400 |
|
Exterran Holdings, Inc. |
|
|
332,926 | |
|
|
|
|
|
556,276 | |
|
|
PHARMACEUTICALS - 1.2 % |
|
|
| |
4,300 |
|
Omnicare, Inc. |
|
|
286,251 | |
|
|
|
|
|
| |
|
|
RETAIL - 2.7 % |
|
|
| |
2,200 |
|
Asbury Automotive Group, Inc. |
|
|
151,228 | |
2,300 |
|
Dillard's, Inc. |
|
|
268,203 | |
4,400 |
|
Foot Locker, Inc. |
|
|
223,168 | |
|
|
|
|
|
642,599 | |
|
|
TELECOMMUNICATIONS - 0.9 % |
|
|
| |
57,000 |
|
Vonage Holdings Corp. |
|
|
213,750 | |
|
|
|
|
|
| |
|
|
TOTAL COMMON STOCK (Cost $8,428,847) |
|
|
10,129,336 | |
|
|
|
|
|
|
|
|
|
|
Par Value |
|
BONDS & NOTES - 52.1 % |
Coupon Rate (%) |
Maturity |
Value |
| |
|
|
GOVERNMENT NOTES & BONDS - 52.1 % |
|
|
|
| |
200,000 |
|
Federal Home Loan Banks | 2.0000 | 8/22/2024 | 189,809 |
| |
250,000 |
|
Federal Home Loan Mortgage Corp. | 1.5000 | 12/27/2018 | 250,595 |
| |
2,500,000 |
|
United States Treasury Note/Bond | 0.2500 | 5/15/2016 | 2,493,165 |
| |
650,000 |
|
United States Treasury Note/Bond | 0.3750 | 2/15/2016 | 650,826 |
| |
1,900,000 |
|
United States Treasury Note/Bond | 1.0000 | 9/30/2016 | 1,918,704 |
| |
1,000,000 |
|
United States Treasury Note/Bond | 1.0000 | 3/31/2017 | 1,006,094 |
| |
500,000 |
|
United States Treasury Note/Bond | 1.6250 | 8/15/2022 | 474,766 |
| |
1,000,000 |
|
United States Treasury Note/Bond | 2.7500 | 11/15/2023 | 1,025,039 |
| |
500,000 |
|
United States Treasury Note/Bond | 3.1250 | 2/15/2042 | 483,906 |
| |
1,500,000 |
|
United States Treasury Note/Bond | 3.8750 | 8/15/2040 | 1,664,532 |
| |
1,900,000 |
|
United States Treasury Note/Bond | 4.6250 | 2/15/2017 |
2,094,231 |
| |
|
|
|
|
|
|
|
|
|
|
TOTAL BONDS & NOTES (Cost $12,079,002) |
|
|
12,251,667 |
| |
|
|
|
|
|
|
|
|
Shares |
|
MONEY MARKET FUND - 4.7 % |
|
|
|
| |
|
|
|
|
|
|
| |
1,116,191 |
|
Fidelity Institutional Money Market Funds - Money Market Portfolio , 0.01% (A) |
|
1,116,191 |
| ||
|
|
(Cost $1,116,191) |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.8 % (Cost $21,624,041) |
|
|
$ 23,497,194 |
| |
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2 % |
|
|
39,628 |
| |
|
|
NET ASSETS - 100.0% |
|
|
$ 23,536,822 |
| |
|
|
|
|
|
|
| |
* Non-income producing securities. |
|
|
| ||||
(A) Variable rate security; the rate shown represents the yield at June 30, 2014. |
|
|
| ||||
(B) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $21,624,041 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows: |
| ||||||
|
|
|
|
Unrealized appreciation | $ 1,927,515 |
| |
|
|
|
|
Unrealized depreciation | (54,362) |
| |
|
|
|
|
Net unrealized appreciation |
$ 1,873,153 |
|
The Timothy Plan | ||||
SCHEDULE OF INVESTMENTS (Unaudited) | ||||
June 30, 2014 | ||||
|
|
|
|
|
Fair value is defined as the price that a Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. GAAP established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.
| ||||
Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk (the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique). Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entitys own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
| ||||
VALUATION OF FUND OF FUNDS
| ||||
The Trust utilizes various methods to measure the fair value of all 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 Fund has the ability to access.
| ||||
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.
| ||||
Investments in mutual funds, including money market mutual funds, are generally priced at the ending NAV provided by the service agent of the funds. These securities will be categorized as Level 1 securities.
| ||||
Short-term investments in fixed income securities (those with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity) are valued by using the amortized cost method of valuation, which the Board has determined will represent fair value. These securities will be classified as Level 2 securities.
| ||||
Aggressive Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 22,835,969 |
$ - |
$ - |
$ 22,835,969 |
Money Market Fund |
756,987 |
- |
- |
756,987 |
Total |
$ 23,592,956 |
$ - |
$ - |
$ 23,592,956 |
|
|
|
|
|
International Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 53,146,851 |
$ - |
$ - |
$ 53,146,851 |
Money Market Fund |
2,032,121 |
- |
- |
2,032,121 |
Total |
$ 55,178,972 |
$ - |
$ - |
$ 55,178,972 |
|
|
|
|
|
Large/Mid Cap Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 60,985,057 |
$ - |
$ - |
$ 60,985,057 |
Money Market Fund |
1,966,484 |
- |
- |
1,966,484 |
Total |
$ 62,951,541 |
$ - |
$ - |
$ 62,951,541 |
|
|
|
|
|
Small Cap Value Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 80,215,605 |
$ - |
$ - |
$ 80,215,605 |
Money Market Fund |
3,927,974 |
- |
- |
3,927,974 |
Total |
$ 84,143,579 |
$ - |
$ - |
$ 84,143,579 |
|
|
|
|
|
Large/Mid Cap Value Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 152,447,776 |
$ - |
$ - |
$ 152,447,776 |
Money Market Fund |
7,626,206 |
- |
- |
7,626,206 |
Total |
$ 160,073,982 |
$ - |
$ - |
$ 160,073,982 |
|
|
|
|
|
Fixed Income Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Bonds & Notes |
$ - |
$ 70,649,787 |
$ - |
$ 70,649,787 |
Money Market Fund |
2,841,541 |
|
- |
2,841,541 |
Total |
$ 2,841,541 |
$ 70,649,787 |
$ - |
$ 73,491,328 |
|
|
|
|
|
High Yield Bond Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Bonds & Notes |
$ - |
$ 44,161,493 |
$ - |
$ 44,161,493 |
Money Market Fund |
1,677,031 |
|
- |
1,677,031 |
Total |
$ 1,677,031 |
$ 44,161,493 |
$ - |
$ 45,838,524 |
|
|
|
|
|
Defensive Strategies Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 17,764,939 |
$ - |
$ - |
$ 17,764,939 |
REITs |
21,173,432 |
- |
- |
21,173,432 |
Exchange Traded Funds |
5,943,019 |
- |
- |
5,943,019 |
Bonds & Notes |
- |
22,028,196 |
- |
22,028,196 |
Money Market Fund |
3,164,266 |
- |
- |
3,164,266 |
Total |
$ 48,045,656 |
$ 22,028,196 |
$ - |
$ 70,073,852 |
|
|
|
|
|
Strategic Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Mutual Funds |
$ 47,784,350 |
$ - |
$ - |
$ 47,784,350 |
Money Market Fund |
72,148 |
- |
- |
72,148 |
Total |
$ 47,856,498 |
$ - |
$ - |
$ 47,856,498 |
|
|
|
|
|
Conservative Growth Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Mutual Funds |
$ 61,206,866 |
$ - |
$ - |
$ 61,206,866 |
Money Market Fund |
223,659 |
- |
- |
223,659 |
Total |
$ 61,430,525 |
$ - |
$ - |
$ 61,430,525 |
|
|
|
|
|
Israel Common Values Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 15,685,808 |
$ - |
$ - |
$ 15,685,808 |
Money Market Fund |
895,133 |
- |
- |
895,133 |
Total |
$ 16,580,941 |
$ - |
$ - |
$ 16,580,941 |
|
|
|
|
|
Emerging Markets Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 10,573,626 |
$ - |
$ - |
$ 10,573,626 |
Money Market Fund |
817,112 |
- |
- |
817,112 |
Total |
$ 11,390,738 |
$ - |
$ - |
$ 11,390,738 |
|
|
|
|
|
Growth & Income Fund |
|
|
|
|
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks |
$ 10,129,336 |
$ - |
$ - |
$ 10,129,336 |
Bonds & Notes |
- |
12,251,667 |
- |
12,251,667 |
Money Market Fund |
1,116,191 |
- |
- |
1,116,191 |
Total |
$ 11,245,527 |
$ 12,251,667 |
$ - |
$ 23,497,194 |
|
|
|
|
|
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
8/29/2014
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
8/29/2014
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: | 8/29/2014 |
|