-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CMYXVWabqXWAHqtMH9cnxpFpwYUY5utQgMbLGKG8qD2TQEASkSeI0v//iWHKAqBN BFaAXR14awSQ0ES657GtwQ== 0001193125-05-212917.txt : 20051101 0001193125-05-212917.hdr.sgml : 20051101 20051101143256 ACCESSION NUMBER: 0001193125-05-212917 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050930 FILED AS OF DATE: 20051101 DATE AS OF CHANGE: 20051101 EFFECTIVENESS DATE: 20051101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIMOTHY PLAN CENTRAL INDEX KEY: 0000916490 IRS NUMBER: 597016828 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08228 FILM NUMBER: 051169361 BUSINESS ADDRESS: STREET 1: 1304 W FAIRBANKS AVE CITY: WINTER PARK STATE: FL ZIP: 32789 BUSINESS PHONE: 4076441986 MAIL ADDRESS: STREET 1: 1304 W FAIRBANKS AVE CITY: WINTER PARK STATE: FL ZIP: 32789 N-Q 1 dnq.htm THE TIMOTHY PLAN FORM N-Q THE TIMOTHY PLAN FORM N-Q

OMB APPROVAL

OMB Number:

    3235-0578

Expires:

    February 28, 2006

Estimated average burden hours

per response

    20.00

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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)

 

 

1304 West Fairbanks Avenue

Winter Park, FL 32789

(Address of principal executive offices) (Zip code)

 

 

CITCO Mutual Fund Services, Inc.

83 General Warren Blvd., Suite 200

Malvern, PA 19355

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: 1-800-846-7526

 

 

Date of fiscal year end: 12/31

 

 

Date of reporting period: 9/30

 

 

Item 1. Schedule of Investments.

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Aggressive Growth Fund

 

     Shares
    Value

COMMON STOCKS - 95.76%

              

Advertising Services - 2.76%

              

Getty Images, Inc. (a)

      6,300    $ 542,052
           

Aerospace/Defense - Equipment - 1.47%

              

Rockwell Collins, Inc.

      6,000      289,920
           

Airlines - 1.87%

              

Southwest Airlines Co.

      24,800      368,280
           

Auto/Truck Parts & Equipment - Original - 1.98%

              

Borg Warner, Inc.

      6,900      389,574
           

Cellular Telecom - 4.50%

              

Nextel Partners, Inc. (a)

      7,500      188,250

NII Holdings, Inc. (a)

      8,250      696,712
           
              884,962
           

Coal - 3.30%

              

Peabody Energy Corp.

      7,700      649,495
           

Commercial Banks - Western US - 0.84%

              

UCBH Holdings, Inc.

      9,000      164,880
           

Commercial Services - 2.13%

              

Alliance Data Systems Corp. (a)

      10,700      418,905
           

Computer Services - 4.75%

              

Anteon International Corp. (a)

      7,900      337,804

Cognizant Technology Solutions Corp. (a)

      12,800      596,352
           
              934,156
           

Computers - Memory Devices - 1.42%

              

Network Appliance, Inc. (a)

      11,750      278,945
           

Data Processing/Management - 1.87%

              

Navteq Corp. (a)

      7,350      367,133
           

Decision Support Software - 1.38%

              

Cognos, Inc. (a)

      7,000      272,510
           

Diagnostic Equipment - 3.53%

              

Cytyc Corp. (a)

      16,100      432,285

Gen Probe, Inc. (a)

      5,300      262,085
           
              694,370
           

Disposable Medical Products - 2.35%

              

C R Bard, Inc.

      7,000      462,210
           

Diversified Electronics - 1.23%

              

Dolby Laboratories, Inc. (a)

      15,100      241,600
           

E - Commerce/Services - 2.58%

              

Monster Worldwide, Inc. (a)

      16,500      506,715
           

Electronic Components - Misc - 0.97%

              

Jabil Circuit, Inc. (a)

      6,185      191,240
           

Electronic Components - Semiconductor - 4.74%

              

International Rectifier Corp. (a)

      7,700      347,116

Nvidia Corp. (a)

      17,100      586,188
           
              933,304
           

Electronic Components - Semiconductors - 3.13%

              

Broadcom Corp. (a)

      9,200      431,572

Marvell Technology Group Ltd. (a)

      4,000      184,440
           
              616,012
           

Electronic Measuring Instruments - 1.31%

              

Flir Systems, Inc. (a)

      8,700      257,346
           

Hazardous Waste Disposal - 1.03%

              

Stericycle, Inc. (a)

      3,550      202,883
           

Industrial Automation/Robotics - 2.15%

              

Rockwell Automation, Inc.

      8,000      423,200
           

Medical - Biomedical/Genetics - 4.12%

              

Charles River Laboratories International, Inc. (a)

      8,700      379,494

Protein Design Labs, Inc. (a)

      15,400      431,200
           
              810,694
           

Metal Processors & Fabrication - 1.89%

              

Precision Castparts Corp.

      7,000      371,700
           

Oil & Gas Drilling - 6.54%

              

Ensco International, Inc.

      5,250      244,597

Nabors Industries Ltd. (a)

      5,700      409,431

Transocean, Inc. (a)

      3,900      239,109

Ultra Petroleum Corp. (a)

      6,900      392,472
           
              1,285,609
           

Oil Company - Exploration & Production - 1.72%

              

Southwestern Energy Co. (a)

      4,600      337,640
           

Oil Field Machinery & Equipment - 2.54%

              

National Oilwell Varco, Inc. (a)

      7,600      500,080
           

Pharmacy Services - 1.07%

              

Caremark RX, Inc. (a)

      4,200      209,706
           

Physical Practice Management - 1.99%

              

Pediatrix Medical Group, Inc. (a)

      5,100      391,782
           

Real Estate Management/Services - 2.24%

              

CB Richard Ellis Group, Inc. (a)

      8,950      440,340
           

Respiratory Products - 1.74%

              

Resmed, Inc. (a)

      4,300      342,495
           

Retail - Apparel/Shoe - 2.26%

              

Ross Stores, Inc.

      12,100      286,770

Urban Outfitters, Inc. (a)

      5,400      158,760
           
              445,530
           

Retail - Consumer Electronic - 1.36%

              

Gamestop Corp. (a)

      8,500      267,495
           

Retail - Restaurants - 2.35%

              

P F Chang’s China Bistro, Inc. (a)

      10,300      461,749
           

Schools - 2.25%

              

Education Management Corp. (a)

      13,700      441,688
           

Software & Programming - 1.73%

              

Amdocs Ltd. (a)

      12,300      341,079
           

Staffing & Outsourcing Services - 2.68%

              

Paychex, Inc.

      14,200      526,536
           

Telecommunication Equipment - 3.25%

              

Comverse Technology, Inc. (a)

      12,200      320,494

Scientific-Atlanta, Inc.

      8,500      318,835
           
              639,329
           

Veterinary Diagnostics - 2.58%

              

VCA Antech, Inc. (a)

      19,900      507,848
           

Web Hosting/Design - 2.16%

              

Macromedia, Inc. (a)

      10,450      425,001
           

TOTAL COMMON STOCKS (Cost $15,510,580)

           $ 18,835,993
           

SHORT TERM INVESTMENTS - 4.02%

              

Money Market Funds - 4.02%

              

First American Treasury Obligations Fund Class A

    $ 790,926    $ 790,926
           

TOTAL SHORT TERM INVESTMENTS (Cost $790,926)

           $ 790,926
           

Total Investments (Cost $16,301,506) - 99.78%

           $ 19,626,919

Other Assets in Excess of Liabilities, Net 0.22%

             43,114
           

TOTAL NET ASSETS - 100.00%

           $ 19,670,033
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Aggressive Growth Fund

    16,301,506    3,812,713    (487,300 )   3,325,413

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing

differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Large/Mid Cap Growth Fund

 

     Shares
    Value

COMMON STOCKS - 96.58%

              

Advertising Agencies - 2.15%

              

Omnicom Group, Inc.

      14,000    $ 1,170,820
           

Aerospace/Defense - Equipment - 3.23%

              

United Technologies Corp.

      34,000      1,762,560
           

Applications Software - 0.73%

              

Mercury Interactive Corp. (a)

      10,000      396,000
           

Batteries/Battery Systems - 0.05%

              

Rayovac Corp. (a)

      1,220      28,731
           

Building - Residential/Commercial - 0.56%

              

Pulte Homes, Inc.

      5,000      214,600

Toll Brothers, Inc. (a)

      1,980      88,447
           
              303,047
           

Business Services - 1.88%

              

Cintas Corp.

      25,000      1,026,250
           

Chemicals - Diversified - 0.16%

              

Lyondell Chemical Co.

      3,010      86,146
           

Chemicals - Specialty - 0.07%

              

Hercules, Inc. (a)

      3,000      36,660
           

Coatings/Paint - 0.13%

              

Valspar Corp.

      3,220      71,999
           

Computer Services - 0.51%

              

Cognizant Technology Solutions Corp. (a)

      6,000      279,540
           

Computers - 0.75%

              

Dell, Inc. (a)

      12,000      410,400
           

Containers - Metal/Glass - 0.10%

              

Ball Corp.

      1,420      52,171
           

Cosmetics & Toiletries - 3.98%

              

Colgate-Palmolive Co.

      20,000      1,055,800

Estee Lauder Companies, Inc.

      32,000      1,114,560
           
              2,170,360
           

Diversified Manufacturing Operations - 8.36%

              

Danaher Corp.

      25,000      1,345,750

Dover Corp.

      2,620      106,870

Illinois Tool Works, Inc.

      7,000      576,310

Ingersoll-Rand Co.

      28,000      1,070,440

Roper Industries, Inc.

      1,740      68,364

Tyco International Ltd.

      50,000      1,392,500
           
              4,560,234
           

E-Commerce/Services - 1.28%

              

EBay, Inc. (a)

      17,000      700,400
           

Electric Products - Miscellaneous - 1.98%

              

Emerson Electric Co.

      15,000      1,077,000
           

Electronics - Military - 3.87%

              

L-3 Communications Holdings, Inc.

      26,700      2,111,169
           

Enterprise Software/Services - 3.26%

              

SAP AG ADR

      41,000      1,776,530
           

Finance - Investment Banker/Broker - 0.25%

              

Bear Stearns Companies, Inc.

      1,000      109,750

Friedman Billings Ramsey Group REIT, Inc.

      2,500      25,475
           
              135,225
           

Food - Canned - 0.24%

              

Del Monte Foods Co. (a)

      12,440      133,481
           

Food - Wholesale/Distribution - 2.93%

              

SYSCO Corp.

      51,000      1,599,870
           

Industrial Automation/Robotics - 1.85%

              

Rockwell Automation, Inc.

      19,050      1,007,745
           

Industrial Gases - 0.10%

              

Airgas, Inc.

      1,800      53,334
           

Information Technology Services - 1.11%

              

Satyam Computer Services Ltd. ADR

      20,000      604,400
           

Instruments - Scientific - 0.49%

              

Fisher Scientific International, Inc. (a)

      4,300      266,815
           

Investment Companies - 0.09%

              

American Capital Strategies Ltd.

      1,300      47,658
           

Machinery - Print Trade - 1.18%

              

Zebra Technologies Corp. (a)

      16,500      644,985
           

Medical - Biomedical/Genetics - 5.27%

              

Genzyme Corp. (a)

      26,000      1,862,640

Medimmune, Inc. (a)

      30,000      1,009,500
           
              2,872,140
           

Medical - Drugs - 1.68%

              

Allergan, Inc.

      10,000      916,200
           

Medical Instruments - 3.43%

              

Beckman Coulter, Inc.

      2,600      140,348

St. Jude Medical, Inc. (a)

      37,000      1,731,600
           
              1,871,948
           

Medical Products - 6.35%

              

Biomet, Inc.

      21,000      728,910

Stryker Corp.

      33,000      1,631,190

Zimmer Holdings, Inc. (a)

      16,000      1,102,240
           
              3,462,340
           

Motorcycle/Motor Scooters - 1.78%

              

Harley Davidson, Inc.

      20,000      968,800
           

Multi-line Insurance - 3.71%

              

American International Group, Inc.

      32,650      2,022,994
           

Networking Products - 0.58%

              

Cisco Systems, Inc. (a)

      17,600      315,568
           

Office Supplies & Forms - 0.17%

              

Avery Dennison Corp.

      1,820      95,350
           

Oil - Field Services - 2.65%

              

Baker Hughes, Inc.

      11,000      656,480

Halliburton Co.

      1,500      102,780

Weatherford International Ltd. (a)

      10,000      686,600
           
              1,445,860
           

Oil Refining & Marketing - 0.54%

              

Valero Energy Corp.

      2,600      293,956
           

Pharmacy Services - 5.67%

              

Caremark RX, Inc. (a)

      40,000      1,997,200

Medco Health Solutions, Inc. (a)

      20,000      1,096,600
           
              3,093,800
           

Power Conversion/Supply Equipment - 0.08%

              

Hubbell, Inc.

      890      41,768
           

Retail - Apparel/Shoe - 2.54%

              

Chicos Fas, Inc. (a)

      20,000      736,000

Claire’s Stores, Inc.

      2,610      62,979

Urban Outfitters, Inc. (a)

      20,000      588,000
           
              1,386,979
           

Retail - Bedding - 2.14%

              

Bed Bath Beyond, Inc. (a)

      29,000      1,165,220
           

Retail - Building Products - 4.01%

              

Lowe’s Companies, Inc.

      33,950      2,186,380
           

Retail - Catalog Shopping - 0.11%

              

MSC Industrial Direct Co., Inc.

      1,800      59,706
           

Retail - Drug Store - 0.32%

              

CVS Corp.

      6,000      174,060
           

Retail - Office Supplies - 1.86%

              

Staples, Inc.

      47,600      1,014,832
           

Retail - Restaurants - 0.25%

              

Wendy’s International, Inc.

      3,000      135,450
           

Semiconductor Equipment - 5.96%

              

Analog Devices, Inc.

      21,000      779,940

Linear Technology Corp.

      49,000      1,841,910

Sandisk Corp. (a)

      13,000      627,250
           
              3,249,100
           

Steel - Producers - 0.11%

              

United States Steel Corp.

      1,480      62,678
           

Telecommunication Equipment - 1.38%

              

Scientific-Atlanta, Inc.

      20,000      750,200
           

Therapeutics - 3.04%

              

Gilead Sciences, Inc. (a)

      34,000      1,657,840
           

Web Portals/ISP - 1.66%

              

Google, Inc. (a)

      2,000      632,920

Yahoo, Inc. (a)

      8,000      270,720
           
              903,640
           

TOTAL COMMON STOCKS (Cost $46,581,352)

           $ 52,660,339
           

SHORT TERM INVESTMENTS - 2.87%

              

Money Market Funds - 2.87%

              

First American Treasury Obligations Fund Class A

    $ 1,568,227    $ 1,568,227
           

TOTAL SHORT TERM INVESTMENTS (Cost $1,568,227)

           $ 1,568,227
           

Total Investments (Cost $48,149,579) - 99.45%

           $ 54,228,566

Other Assets in Excess of Liabilities, Net 0.55%

             297,319
           

TOTAL NET ASSETS - 100.00%

           $ 54,525,885
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Large/Mid Cap Growth Fund

    48,149,579    7,373,873    (1,294,885 )   6,078,988

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing

differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Small Cap Value Fund

 

     Shares
    Value
  

COMMON STOCKS - 96.46%

                

Air Delivery & Frieght Services - 0.45%

                

Hub Group, Inc. (a)

      8,000    $ 293,680  
           

Auction House/Art Dealer - 2.73%

                

Adesa, Inc.

      81,000      1,790,100  
           

Building - Mobile Home/Manufactured Housing - 1.96%

                

Champion Enterprises, Inc. (a)

      87,000      1,285,860  
           

Building Products - Air & Heating - 3.71%

                

Lennox International, Inc.

      89,000      2,439,490  
           

Commercial Banks - Eastern US - 0.35%

                

Capital Crossing Bank (a)

      6,625      230,152  
           

Commercial Services - Finance - 5.24%

                

Interactive Data Corp. (a)

      101,000      2,287,650  

NCO Group, Inc. (a)

      55,700      1,150,762  
           
              3,438,412  
           

Consulting Services - 1.46%

                

Navigant Consulting, Inc. (a)

      50,000      958,000  
           

Data Processing/Management - 4.19%

                

InfoUSA, Inc.

      163,000      1,731,060  

MoneyGram International, Inc.

      47,000      1,020,370  
           
              2,751,430  
           

Distribution/Wholesale - 7.28%

                

Hughes Supply, Inc.

      55,000      1,793,000  

Scansource, Inc. (a)

      18,000      877,320  

Tech Data Corp. (a)

      57,500      2,110,825  
           
              4,781,145  
           

Diversified Manufacturing Operations - 3.94%

                

Federal Signal Corp.

      73,000      1,247,570  

Jacuzzi Brands, Inc. (a)

      166,000      1,337,960  
           
              2,585,530  
           

E-Commerce/Products - 1.49%

                

1-800-Flowers.Com, Inc. (a)

      140,000      981,400  
           

Electronic Components - Misc - 1.61%

                

Benchmark Electronics, Inc. (a)

      35,000      1,054,200  
           

Engineering / R&D Services - 4.18%

                

URS Corp. (a)

      68,000      2,746,520  
           

Financial Guarantee Insurance - 2.67%

                

PMI Group, Inc.

      44,000      1,754,280  
           

Industrial Automation/Robotics - 2.61%

                

Unova, Inc. (a)

      49,100      1,717,518  
           

Investment Companies - 2.36%

                

MCG Capital Corp.

      92,000      1,552,040  
           

Medical - Biomedical/Genetics - 2.67%

                

Bio-Rad Laboratories, Inc. (a)

      4,100      225,459  

Charles River Laboratories International, Inc. (a)

      35,040      1,528,445  
           
              1,753,904  
           

Medical - Drugs - 2.74%

                

K-V Pharmaceutical Co. (a)

      101,300      1,800,101  
           

Medical Information Systems - 1.74%

                

Dendrite International, Inc. (a)

      57,000      1,145,130  
           

Metal Processors & Fabrication - 2.56%

                

Kaydon Corp.

      59,100      1,679,031  
           

Oil Company - Exploration & Production - 9.17%

                

Comstock Resources, Inc. (a)

      63,000      2,067,030  

Energy Partners Ltd. (a)

      49,000      1,529,780  

Swift Energy Corp. (a)

      53,000      2,424,750  
           
              6,021,560  
           

Publishing - Books - 3.81%

                

John Wiley & Sons, Inc.

      60,000      2,504,400  
           

REITS - Diversified - 3.52%

                

Crescent Real Estate Equities Trust

      48,000      984,480  

Kite Realty Group Trust

      89,000      1,327,880  
           
              2,312,360  
           

REITS - Hotels - 2.07%

                

Highland Hospitality Corp.

      132,500      1,359,450  
           

REITS - Mortgage - 1.82%

                

Aames Investment Corp.

      190,000      1,193,200  
           

Resorts/Theme Parks - 0.34%

                

Sunterra Corp. (a)

      17,000      223,210  
           

Retail - Apparel/Shoe - 2.65%

                

Stage Stores, Inc.

      64,800      1,741,176  
           

Retail - Automobile - 3.07%

                

United Auto Group, Inc.

      61,000      2,015,440  
           

Retail - Pawn Shops - 1.09%

                

Cash America International, Inc.

      34,400      713,800  
           

Retail - Restaurants - 2.36%

                

CBRL Group, Inc.

      46,000      1,548,360  
           

S&L/Thrifts - Western US - 1.94%

                

Commercial Capital Bancorp, Inc.

      75,000      1,275,000  
           

Semiconductor Equipment - 2.13%

                

Axcelis, Inc. (a)

      139,000      725,580  

Mattson Technology, Inc. (a)

      90,000      675,900  
           
              1,401,480  
           

Telecommunication Equipment - 3.25%

                

Commscope, Inc. (a)

      123,000      2,132,820  
           

Vitamins & Nutrition Products - 2.24%

                

NBTY, Inc. (a)

      62,700      1,473,450  
           

Wire & Cable Products - 1.06%

                

Belden CDT, Inc.

      36,000      699,480  
           

TOTAL COMMON STOCKS (Cost $53,024,022)

           $ 63,353,109  
           

SHORT TERM INVESTMENTS - 4.27%

                

Money Market Funds - 4.27%

                

First American Treasury Obligations Fund Class A

    $ 2,802,105    $ 2,802,105  
           

TOTAL SHORT TERM INVESTMENTS (Cost $2,802,105)

           $ 2,802,105  
           

Total Investments (Cost $55,826,127) - 100.73%

           $ 66,155,214  

Liabilities in Excess of Other Assets, Net (0.73)%

             (476,482 )
           

TOTAL NET ASSETS - 100.00%

           $ 65,678,732  
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Small Cap Value Fund

    55,826,127    12,579,850    (2,250,763 )   10,329,087

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing

differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Large/Mid Cap Value Fund

 

     Shares
    Value
  

COMMON STOCKS - 97.50%

                

Aerospace/Defense - Equipment - 3.93%

                

Rockwell Collins, Inc.

      25,200    $ 1,217,664  

United Technologies Corp.

      23,500      1,218,240  
           
              2,435,904  
           

Coal - 1.94%

                

Arch Coal, Inc.

      17,800      1,201,500  
           

Commercial Banks - Southern US - 3.98%

                

BB&T Corp.

      31,400      1,226,170  

Compass Bancshares, Inc.

      27,100      1,241,993  
           
              2,468,163  
           

Commercial Banks - Western US - 1.98%

                

Zions Bancorp

      17,200      1,224,812  
           

Computer Services - 2.02%

                

Computer Sciences Corp. (a)

      26,400      1,248,984  
           

Cosmetics & Toiletries - 1.93%

                

Colgate-Palmolive Co.

      22,700      1,198,333  
           

Data Processing/Management - 1.97%

                

Automatic Data Processing, Inc.

      28,400      1,222,336  
           

Disposable Medical Products - 1.97%

                

C R Bard, Inc.

      18,500      1,221,555  
           

Diversified Manufacturing Operations - 4.07%

                

Eaton Corp.

      19,800      1,258,290  

ITT Industries, Inc.

      11,100      1,260,960  
           
              2,519,250  
           

Diversified Operational/Commercial Services - 1.99%

                

Cendant Corp.

      59,900      1,236,336  
           

Electric - Integrated - 2.00%

                

Constellation Energy Group, Inc.

      20,100      1,238,160  
           

Electric Products - Miscellaneous - 2.11%

                

Emerson Electric Co.

      18,200      1,306,760  
           

Finance - Investment Banker/Broker - 4.09%

                

Bear Stearns Companies, Inc.

      11,700      1,284,075  

Legg Mason, Inc.

      11,400      1,250,466  
           
              2,534,541  
           

Food - Dairy Products - 2.03%

                

Dean Foods Co. (a)

      32,400      1,259,064  
           

Food - Wholesale/Distribution - 1.98%

                

Bunge Ltd.

      23,300      1,226,046  
           

Industrial Gases - 1.93%

                

Praxair, Inc.

      24,900      1,193,457  
           

Information Technology Services - 0.95%

                

Perot Systems Corp. (a)

      41,700      590,055  
           

Investment Management/Advisory Services - 8.04%

                

Alliance Capital Management Holdings

      26,800      1,282,380  

Blackrock, Inc.

      14,200      1,258,404  

Eaton Vance Corp.

      49,100      1,218,662  

Franklin Resources, Inc.

      14,600      1,225,816  
           
              4,985,262  
           

Metal - Diversified - 1.94%

                

Rio Tinto PLC ADR

      7,300      1,199,390  
           

Metal Processors & Fabrication - 2.12%

                

Precision Castparts Corp.

      24,800      1,316,880  
           

Oil - Field Services - 2.12%

                

Baker Hughes, Inc.

      22,000      1,312,960  
           

Oil & Gas Drilling - 1.94%

                

Noble Energy, Inc.

      25,700      1,205,330  

Oil Company - Exploration & Production - 5.87%

                

Apache Corp.

      15,700      1,180,954  

Burlington Resources, Inc.

      15,400      1,252,328  

Murphy Oil Corp.

      24,100      1,201,867  
           
              3,635,149  
           

Oil Company - Integrated - 8.02%

                

ConocoPhillips

      17,500      1,223,425  

Exxon Mobil Corp.

      20,000      1,270,800  

Marathon Oil Corp.

      17,300      1,192,489  

Occidental Petroleum Corp.

      15,000      1,281,450  
           
              4,968,164  
           

Paper & Related Products - 1.01%

                

Rayonier, Inc.

      10,900      628,058  
           

REITS - Diversified - 0.95%

                

Equity Residential

      15,500      586,675  

REITS - Office Property - 2.02%

                

Equity Office Properties Trust

      38,200      1,249,522  
           

Retail - Jewelry - 2.06%

                

Tiffany & Co.

      32,100      1,276,617  
           

Retail - Restaurants - 1.99%

                

Wendy’s International, Inc.

      27,300      1,232,595  
           

Super - Regional Banks - US - 1.98%

                

Comerica, Inc.

      20,800      1,225,120  
           

Telecommunication Equipment - 4.18%

                

Harris Corp.

      32,100      1,341,780  

Scientific-Atlanta, Inc.

      33,300      1,249,083  
           
              2,590,863  
           

Telephone - Integrated - 2.01%

                

Alltel Corp.

      19,100      1,243,601  
           

Transport - Marine - 1.95%

                

Overseas Shipholding Group, Inc.

      20,700      1,207,431  
           

Transport - Rail - 2.12%

                

Burlington Northern Santa Fe Corp.

      22,000      1,315,600  
           

Transport - Services - 2.08%

                

Fedex Corp.

      14,800      1,289,524  
           

Transport - Truck - 2.04%

                

Yellow Roadway Corp. (a)

      30,600      1,267,452  
           

Water - 2.19%

                

Aqua America, Inc.

      35,700      1,357,314  
           

TOTAL COMMON STOCKS (Cost $53,879,513)

           $ 60,418,763  
           

SHORT TERM INVESTMENTS - 3.33%

                

Money Market Funds - 3.33%

                

First American Treasury Obligations Fund Class A

    $ 2,065,014    $ 2,065,014  
           

TOTAL SHORT TERM INVESTMENTS (Cost $2,065,014)

           $ 2,065,014  
           

Total Investments (Cost $55,944,527) - 100.83%

           $ 62,483,777  

Liabilities in Excess of Other Assets, Net (0.83)%

             (516,704 )
           

TOTAL NET ASSETS - 100.00%

           $ 61,967,073  
           

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Large/Mid Cap Value Fund

    55,944,527    7,461,441    (922,190 )   6,539,250

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Patriot Fund

 

     Shares
    Value

COMMON STOCKS - 91.18%

              

Air Delivery & Frieght Services - 0.94%

              

Hub Group, Inc. (a)

      500    $ 18,355
           

Auction House/Art Dealer - 3.18%

              

Adesa, Inc.

      2,800      61,880
           

Building - Mobile Home/Manufactured Housing - 0.99%

              

Champion Enterprises, Inc. (a)

      1,300      19,214
           

Building Products - Air & Heating - 3.59%

              

Lennox International, Inc.

      2,550      69,896
           

Commercial Banks - Eastern US - 0.63%

              

Capital Crossing Bank (a)

      350      12,159
           

Commercial Services - Finance - 3.14%

              

Interactive Data Corp. (a)

      2,700      61,155
           

Consulting Services - 1.48%

              

Navigant Consulting, Inc. (a)

      1,500      28,740
           

Data Processing/Management - 5.40%

              

InfoUSA, Inc.

      6,000      63,720

MoneyGram International, Inc.

      1,900      41,249
           
              104,969
           

Distribution/Wholesale - 9.53%

              

Hughes Supply, Inc.

      2,500      81,500

Scansource, Inc. (a)

      700      34,118

Tech Data Corp. (a)

      1,900      69,749
           
              185,367
           

Diversified Manufacturing Operations - 6.21%

              

Federal Signal Corp.

      4,000      68,360

Jacuzzi Brands, Inc. (a)

      6,500      52,390
           
              120,750
           

E - Commerce/Products - 2.16%

              

1 - 800 - Flowers.Com, Inc. (a)

      6,000      42,060
           

Electronic Components - Misc - 1.55%

              

Benchmark Electronics, Inc. (a)

      1,000      30,120
           

Engineering/ R&D Services - 1.45%

              

URS Corp. (a)

      700      28,273
           

Financial Guarantee Insurance - 2.66%

              

PMI Group, Inc.

      1,300      51,831
           

Industrial Automation/Robotics - 1.26%

              

Unova, Inc. (a)

      700      24,486
           

Investment Companies - 1.65%

              

MCG Capital Corp.

      1,900      32,053
           

Medical - Biomedical/Genetics - 3.12%

              

Bio - Rad Laboratories, Inc. (a)

      150      8,248

Charles River Laboratories International, Inc. (a)

      1,200      52,344
           
              60,592
           

Medical - Drugs - 2.88%

              

K - V Pharmaceutical Co. (a)

      3,150      55,975
           

Medical Information Systems - 1.86%

              

Dendrite International, Inc. (a)

      1,800      36,162
           

Oil Company - Exploration & Production - 8.43%

              

Comstock Resources, Inc. (a)

      2,350      77,104

Energy Partners Ltd. (a)

      1,500      46,830

Swift Energy Corp. (a)

      875      40,031
           
              163,965
           

Publishing - Books - 3.22%

              

John Wiley & Sons, Inc.

      1,500      62,610
           

REITS - Diversified - 3.60%

              

Crescent Real Estate Equities Trust

      1,600      32,816
           

REITS - Hotels - 2.00%

              

Highland Hospitality Corp.

      3,800      38,988
           

REITS - Mortgage - 1.70%

              

Aames Investment Corp.

      5,250      32,970
           

Resorts/Theme Parks - 0.47%

              

Sunterra Corp. (a)

      700      9,191
           

Retail - Apparel/Shoe - 0.41%

              

Stage Stores, Inc.

      300      8,061
           

Retail - Pawn Shops - 0.96%

              

Cash America International, Inc.

      900      18,675
           

Retail - Restaurants - 2.45%

              

Brinker International, Inc.

      1,000      37,560

CBRL Group, Inc.

      300      10,098
           
              47,658
           

S&L/Thrifts - Western US - 3.50%

              

Commercial Capital Bancorp, Inc.

      4,000      68,000
           

Semiconductor Equipment - 2.75%

              

Axcelis, Inc. (a)

      5,200      27,144

Mattson Technology, Inc. (a)

      3,500      26,285
           
              53,429
           

Telecommunication Equipment - 3.83%

              

Commscope, Inc. (a)

      4,300      74,562
           

Vitamins & Nutrition Products - 2.78%

              

NBTY, Inc. (a)

      2,300      54,050
           

Wire & Cable Products - 1.40%

              

Belden CDT, Inc.

      1,400      27,202
           

REITS - Diversified - 3.60%

              

Kite Realty Group Trust

      2,500      37,300
           

TOTAL COMMON STOCKS (Cost $1,640,520)

           $ 1,773,514
           

SHORT TERM INVESTMENTS - 4.19%

              

Money Market Funds - 4.19%

              

First American Prime Obligations Fund Class A

    $ 81,450    $ 81,450
           

TOTAL SHORT TERM INVESTMENTS (Cost $81,450)

           $ 81,450
           

Total Investments (Cost $1,721,970) - 95.37%

           $ 1,854,964

Other Assets in Excess of Liabilities, Net 4.63%

             90,047
           

TOTAL NET ASSETS - 100.00%

           $ 1,945,011
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Patriot Fund

    1,721,970    197,135    (64,141 )   132,994

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Fixed Income Fund

 

     Principal
Amount
    Value

CORPORATE BONDS - 48.80%

              

Agricultural Operations - 0.72%

              

Archer - Daniels Midland Co.

              

6.625%, 05/01/2029

    $ 200,000    $ 228,500
           

Building - Residential/Commercial - 1.53%

              

Centex Corp.

              

5.125%, 10/01/2013

      500,000      482,216
           

Chemicals - Diversified - 0.80%

              

ICI Wilmington, Inc.

              

5.625%, 12/01/2013

      250,000      252,748
           

Coatings/Paint - 0.96%

              

Sherwin - Williams Co.

              

7.375%, 02/01/2027

      250,000      303,088
           

Computer Services - 1.87%

              

Computer Sciences Corp.

              

3.50%, 04/15/2008

      300,000      291,440

5.00%, 02/15/2013

      300,000      297,725
           
              589,165
           

Diversified Operational/Commercial Services - 2.04%

              

Cendant Corp.

              

6.25%, 01/15/2008

      375,000      384,215

CUC International, Inc.

              

6.25%, 03/15/2010

      250,000      258,537
           
              642,752
           

Education - 1.55%

              

California Baptist

              

5.70%, 01/02/2011

      250,000      245,000

Western Baptist College

              

6.10%, 12/15/2012

      250,000      245,000
           
              490,000
           

Electric - Integrated - 10.68%

              

Appalachian Power Co.

              

3.60%, 05/15/2008

      250,000      243,283

Dominion Resources Inc.

              

5.00%, 03/15/2013

      950,000      938,193

Florida Power Corp.

              

4.80%, 03/01/2013

      500,000      494,978

Jersey Central Power & Light Co.

              

6.75%, 11/01/2025

      300,000      303,023

Nisource Finance Corp.

              

5.40%, 07/15/2014

      750,000      756,374

PPL CAP FDG INC

              

4.33%, 03/01/2009

      500,000      490,527

Wisconsin Energy Corp.

              

6.50%, 04/01/2011

      135,000      144,822
           
              3,371,200
           

Finance - Commercial - 2.36%

              

CIT Group Holdings, Inc.

              

4.125%, 02/21/2006

      250,000      249,977

CIT Group, Inc.

              

5.00%, 02/13/2014

      500,000      495,613
           
              745,590
           

Finance - Consumer Loans - 1.28%

              

American General Finance Corp.

              

5.375%, 10/01/2012

      300,000      303,804

John Deere Capital Corp.

              

5.10%, 01/15/2013

      100,000      101,346
           
              405,150
           

Finance - Investment Banker/Broker - 1.25%

              

Bear Stearns Companies, Inc.

              

4.50%, 10/28/2010

      400,000      394,307
           

Finance - Leasing Company - 1.45%

              

International Lease Finance Corp.

              

5.75%, 02/15/2007

      250,000      252,865

Sunrise International Leasing Corp

              

5.80%, 08/15/2007

      200,000      204,029
           
              456,894
           

Finance - Other Services - 0.82%

              

National Rural Utilities Cooperative Finance Corp

              

5.75%, 08/28/2009

      250,000      259,345
           

Food - Retail - 1.59%

              

Kroger Co.

              

5.50%, 02/01/2013

      500,000      502,589
           

Investment Companies - 3.30%

              

Credit Suisse First Boston USA, Inc.

              

5.125%, 01/15/2014

      200,000      201,318

5.50%, 08/15/2013

      500,000      516,011

6.50%, 01/15/2012

      300,000      325,271
           
              1,042,600
           

Life/Health Insurance - 0.92%

              

Protective Life

              

5.75%, 01/15/2019

      300,000      289,029
           

Machinery - Farm - 1.10%

              

Deere & Co.

              

6.55%, 10/01/2028

      300,000      346,640
           

Money Center Banks - 0.84%

              

HSBC

              

7.53%, 12/04/2026

      250,000      265,700
           

Multi - line Insurance - 1.90%

              

Unitrin, Inc.

              

4.875%, 11/01/2010

      300,000      296,018

5.75%, 07/01/2007

      300,000      303,876
           
              599,894
           

Office Supplies & Forms - 0.63%

              

Avery Dennison Corp.

              

4.875%, 01/15/2013

      200,000      199,565
           

Paper & Related Products - 0.78%

              

International Paper Co.

              

4.25%, 01/15/2009

      250,000      244,734
           

Pipelines - 0.60%

              

Duke Energy Field Services LLC

              

5.75%, 11/15/2006

      187,000      189,172
           

Printing - Commercial - 1.07%

              

R.R. Donnelley & Sons Co.

              

6.625%, 04/15/2029

      315,000      337,771
           

Super - Regional Banks - US - 1.52%

              

Huntington Bancshares, Inc.

              

3.125%, 05/15/2008

      500,000      481,376
           

Telephone - Integrated - 1.55%

              

Deutsche Telekom International Finance BV

              

3.875%, 07/22/2008

      500,000      490,765
           

Transport - Rail - 5.69%

              

CSX Corp.

              

4.875%, 11/01/2009

      920,000      919,294
           

Southern Pacific Rail Corp

              

3.875%, 02/15/2009

      900,000      875,331
           
              1,794,625
           

TOTAL CORPORATE BONDS (Amortized Cost $15,370,106)

           $ 15,405,415
           

MUNICIPAL BONDS - 0.62%

              

North Carolina - 0.62%

              

North Carolina Eastern Municipal Power Agency

              

3.98%, 01/01/2007

      200,000      196,792
           

TOTAL MUNICIPAL BONDS (Amortized Cost $200,858)

           $ 196,792
           

U.S. GOVERNMENT & AGENCY OBLIGATIONS - 27.41%

              

GNMA - 24.71%

              

Series 641577, 5.50%, 06/15/2035

      1,434,428      1,448,989

Pool 585163, 5.00%, 02/15/2018

      140,605      141,434

Pool 585180, 5.00%, 02/15/2018

      145,280      146,136

Pool 3596, 5.50%, 08/20/2034

      828,558      835,370

Pool 592492, 5.50%, 03/15/2018

      161,811      162,765

Pool 599821, 5.50%, 01/15/2018

      128,837      129,597

Pool 3584, 6.00%, 07/20/2034

      375,894      384,055

Pool 781694, 6.00%, 12/01/2031

      344,611      353,191

Pool 3544, 5.50%, 04/01/2034

      387,743      390,931

Pool 3583, 5.50%, 07/01/2034

      411,877      415,263

Pool 3637, 5.50%, 11/01/2034

      892,176      899,510

Pool 3665, 5.50%, 01/01/2035

      1,379,067      1,390,487

Pool 3679, 6.00%, 02/01/2035

      876,959      895,939

Pool 3612, 6.50%, 09/01/2034

      1,020,331      1,056,858
           

TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Amortized Cost $8,739,540)

           $ 8,650,525
           

U.S. TREASURY OBLIGATIONS - 12.72%

              

U.S. Treasury Note/Bond - 12.72%

              

3.375%, 09/15/2009

      1,000,000      970,391

4.00%, 02/15/2015

      485,000      472,269

4.125%, 05/15/2015

      1,000,000      983,086

13.875%, 05/15/2011

      1,500,000      1,589,064
           

TOTAL U.S. TREASURY OBLIGATIONS (Amortized Cost $4,050,640)

           $ 4,014,810
           
     Shares
    Value

SHORT TERM INVESTMENTS - 9.50%

              

Money Market Funds - 9.50%

              

Cash Trust Series II - Treasury Cash Series II

    $ 1,500,000    $ 1,500,000

First American Treasury Obligations Fund Class A

      1,500,000      1,500,000
           
              3,000,000
           

TOTAL SHORT TERM INVESTMENTS (Amortized Cost $3,000,000)

           $ 3,000,000
           

Total Investments (Amortized Cost $31,361,144) - 99.05%

           $ 31,267,542

Other Assets in Excess of Liabilities, Net 0.95%

             298,863
           

TOTAL NET ASSETS - 100.00%

           $ 31,566,405
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)
  

Timothy Fixed Income Fund

    31,361,144    271,291    (364,893 )   (93,603 )

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Money Market Fund

 

     Principal
Amount
    Value
  

GOVERNMENT SECURITY & AGENCY ISSUES - 94.72%

                

Federal Home Loan Bank System Fhlb

                

0.00%, 10/14/2005 to 11/29/2005

    $ 3,600,000    $ 4,185,066  

Federal Farm Credit Banks

                

0.00, 10/05/2005

      500,000      499,905  

Federal Home Loan Bank System Fhlb

                

0.00, 11/09/2005

      600,000      4,185,066  
           

TOTAL GOVERNMENT SECURITY & AGENCY ISSUES (Amortized Cost $4,684,971)

           $ 4,684,971  
           
     Shares
    Value
  

MONEY MARKET FUNDS - 5.53%

                

Cash Trust Series II - Treasury Cash Series II

      43,519      43,519  

First American Treasury Obligations Fund Class A

      230,000      230,000  
           

TOTAL MONEY MARKET FUNDS (Amortized Cost $273,519)

           $ 273,519  
           

Total Investments (Amortized Cost $4,958,490) - 100.25%

           $ 4,958,490  

Liabilities in Excess of Other Assets, Net (0.25)%

             (12,363 )
           

TOTAL NET ASSETS - 100.00%

           $ 4,946,127  
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
    Net Unrealized
Gain/(Loss)

Timothy Money Market

    4,958,490    0    0    0

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Strategic Growth

 

     Shares
    Value
  

MUTUAL FUNDS - 100.27%

              

Timothy Plan Fund Aggressive Growth Fund Class A (a)

    1,270,263    $ 9,298,326  

Timothy Plan Fund Large/Mid Cap Growth Fund Class A (a)

    2,382,620      16,035,030  

Timothy Plan Fund Large/Mid Cap Value Fund Class A (a)

    796,572      11,685,717  

Timothy Plan Fund Small Cap Value Fund Class A (a)

    608,323      9,203,928  
         

TOTAL MUTUAL FUNDS (Cost $40,108,795)

         $ 46,223,001  
         

Total Investments (Cost $40,108,795) - 100.27%

         $ 46,223,001  

Liabilities in Excess of Other Assets, Net (0.27)%

           (125,023 )
         

TOTAL NET ASSETS - 100.00%

         $ 46,097,978  
         

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Strategic Growth

    40,108,795    6,808,007    (693,801 )   6,114,206

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Conservative Growth

 

     Shares
    Value
  

MUTUAL FUNDS - 100.14%

              

Timothy Plan Fund Fixed Income Fund Class A

    1,225,686    $ 12,452,971  

Timothy Plan Fund Large/Mid Cap Growth Fund Class A (a)

    1,268,849      8,539,353  

Timothy Plan Fund Large/Mid Cap Value Fund Class A (a)

    908,021      13,320,670  

Timothy Plan Fund Small Cap Value Fund Class A (a)

    562,660      8,513,042  
         

TOTAL MUTUAL FUNDS (Cost $37,837,085)

         $ 42,826,036  
         

Total Investments (Cost $37,837,085) - 100.14%

         $ 42,826,036  

Liabilities in Excess of Other Assets, Net (0.14)%

           (57,849 )
         

TOTAL NET ASSETS - 100.00%

         $ 42,768,187  
         

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Conservative Growth

    37,837,085    5,393,348    (404,397 )   4,988,951

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Small Cap Variable Annuity Fund

 

     Shares
    Value
  

COMMON STOCKS - 97.73%

                

Air Delivery & Frieght Services - 0.75%

                

Hub Group, Inc. (a)

      1,000    $ 36,710  
           

Auction House/Art Dealer - 2.31%

                

Adesa, Inc.

      5,100      112,710  
           

Building - Mobile Home/Manufactured Housing - 1.90%

                

Champion Enterprises, Inc. (a)

      6,300      93,114  
           

Building Products - Air & Heating - 4.20%

                

Lennox International, Inc.

      7,500      205,575  
           

Commercial Banks - Eastern US - 0.64%

                

Capital Crossing Bank (a)

      900      31,266  
           

Commercial Services - Finance - 4.93%

                

Interactive Data Corp. (a)

      8,000      181,200  

NCO Group, Inc. (a)

      2,900      59,914  
           
              241,114  
           

Consulting Services - 1.57%

                

Navigant Consulting, Inc. (a)

      4,000      76,640  
           

Data Processing/Management - 4.36%

                

InfoUSA, Inc.

      16,000      169,920  

MoneyGram International, Inc.

      2,000      43,420  
           
              213,340  
           

Distribution/Wholesale - 6.58%

                

Hughes Supply, Inc.

      3,500      114,100  

Scansource, Inc. (a)

      1,100      53,614  

Tech Data Corp. (a)

      4,200      154,182  
           
              321,896  
           

Diversified Manufacturing Operations - 4.26%

                

Federal Signal Corp.

      5,500      93,995  

Jacuzzi Brands, Inc. (a)

      14,200      114,452  
           
              208,447  
           

E-Commerce/Products - 1.58%

                

1-800-Flowers.Com, Inc. (a)

      11,000      77,110  
           

Electric - Integrated - 0.00%

                

Allete, Inc.

      1      46  
           

Electronic Components - Misc - 1.85%

                

Benchmark Electronics, Inc. (a)

      3,000      90,360  
           

Engineering/ R&D Services - 4.29%

                

URS Corp. (a)

      5,200      210,028  
           

Financial Guarantee Insurance - 2.45%

                

PMI Group, Inc.

      3,000      119,610  
           

Industrial Automation/Robotics - 2.72%

                

Unova, Inc. (a)

      3,800      132,924  
           

Investment Companies - 1.04%

                

MCG Capital Corp.

      3,000      50,610  
           

Medical - Biomedical/Genetics - 3.67%

                

Bio-Rad Laboratories, Inc. (a)

      600      32,994  

Charles River Laboratories International, Inc. (a)

      3,360      146,563  
           
              179,557  
           

Medical - Drugs - 2.82%

                

K-V Pharmaceutical Co. (a)

      7,750      137,717  
           

Medical Information Systems - 2.01%

                

Dendrite International, Inc. (a)

      4,900      98,441  
           

Metal Processors & Fabrication - 2.90%

                

Kaydon Corp.

      5,000      142,050  
           

Oil Company - Exploration & Production - 8.08%

                

Comstock Resources, Inc. (a)

      4,000      131,240  

Energy Partners Ltd. (a)

      4,500      140,490  

Swift Energy Corp. (a)

      2,700      123,525  
           
              395,255  
           

Publishing - Books - 3.41%

                

John Wiley & Sons, Inc.

      4,000      166,960  
           

REITS - Diversified - 3.36%

                

Crescent Real Estate Equities Trust

      3,000      61,530  
           

REITS - Hotels - 2.10%

                

Highland Hospitality Corp.

      10,000      102,600  
           

REITS - Mortgage - 1.28%

                

Aames Investment Corp.

      10,000      62,800  
           

Resorts/Theme Parks - 0.30%

                

Sunterra Corp. (a)

      1,100      14,443  
           

Retail - Apparel/Shoe - 2.72%

                

Stage Stores, Inc.

      4,950      133,006  
           

Retail - Automobile - 3.78%

                

United Auto Group, Inc.

      5,600      185,024  
           

Retail - Pawn Shops - 1.06%

                

Cash America International, Inc.

      2,500      51,875  
           

Retail - Restaurants - 1.72%

                

CBRL Group, Inc.

      2,500      84,150  
           

S&L/Thrifts - Western US - 2.78%

                

Commercial Capital Bancorp, Inc.

      8,000      136,000  
           

Semiconductor Equipment - 2.83%

                

Axcelis, Inc. (a)

      15,000      78,300  

Mattson Technology, Inc. (a)

      8,000      60,080  
           
              138,380  
           

Telecommunication Equipment - 4.18%

                

Commscope, Inc. (a)

      11,800      204,612  
           

Vitamins & Nutrition Products - 2.31%

                

NBTY, Inc. (a)

      4,800      112,800  
           

Wire & Cable Products - 0.99%

                

Belden CDT, Inc.

      2,500      48,575  
           

REITS - Diversified - 3.36%

                

Kite Realty Group Trust

      6,900      102,948  
           

TOTAL COMMON STOCKS (Cost $4,004,263)

           $ 4,780,223  
           

SHORT TERM INVESTMENTS - 3.36%

                

Money Market Funds - 3.36%

                

First American Treasury Obligations Fund Class A

    $ 164,364    $ 164,364  
           

TOTAL SHORT TERM INVESTMENTS (Cost $164,364)

           $ 164,364  
           

Total Investments (Cost $4,168,627) - 101.09%

           $ 4,944,587  

Liabilities in Excess of Other Assets, Net (1.09)%

             (53,203 )
           

TOTAL NET ASSETS - 100.00%

           $ 4,891,384  
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Annuity Series Fund

    4,168,627    989,282    (213,321 )   775,961

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Strategic Growth Variable

 

     Shares
    Value
  

MUTUAL FUNDS - 99.84%

                

Timothy Plan Fund Aggressive Growth Fund Class A (a)

      206,883    $ 1,514,387  

Timothy Plan Fund Fixed Income Fund Class A

      82,386      837,040  

Timothy Plan Fund Large/Mid Cap Growth Fund Class A (a)

      413,296      2,781,485  

Timothy Plan Fund Large/Mid Cap Value Fund Class A (a)

      132,531      1,944,227  

Timothy Plan Fund Small Cap Value Fund Class A (a)

      99,494      1,505,344  
           

TOTAL MUTUAL FUNDS (Cost $7,466,897)

           $ 8,582,483  
           

SHORT TERM INVESTMENTS - 0.17%

                

Money Market Funds - 0.17%

                

First American Government Obligations Fund Class A

    $ 15,084    $ 15,084  
           

TOTAL SHORT TERM INVESTMENTS (Cost $15,084)

           $ 15,084  
           

Total Investments (Cost $7,481,981) - 100.01%

           $ 8,597,567  

Liabilities in Excess of Other Assets, Net (0.01)%

             (1,195 )
           

TOTAL NET ASSETS - 100.00%

           $ 8,596,372  
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Strategic Growth Variable

    7,481,981    1,159,991    (44,406 )   1,115,585

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Schedule of Investments

September 30, 2005 (Unaudited)

Timothy Conservative Growth Variable

 

     Shares
    Value

MUTUAL FUNDS - 99.65%

              

Timothy Plan Fund Fixed Income Fund Class A

      304,022    $ 3,088,867

Timothy Plan Fund Large/Mid Cap Growth Fund Class A (a)

      341,242      2,296,557

Timothy Plan Fund Large/Mid Cap Value Fund Class A (a)

      215,976      3,168,370

Timothy Plan Fund Money Market Fund

      1,133,226      1,133,226

Timothy Plan Fund Small Cap Value Fund Class A (a)

      114,409      1,731,013
           

TOTAL MUTUAL FUNDS (Cost $10,610,412)

           $ 11,418,033
           

SHORT TERM INVESTMENTS - 0.21%

              

Money Market Funds - 0.21%

              

First American Government Obligations Fund Class A

    $ 24,418    $ 24,418
           

TOTAL SHORT TERM INVESTMENTS (Cost $24,418)

           $ 24,418
           

Total Investments (Cost $10,634,830) - 99.86%

           $ 11,442,451

Other Assets in Excess of Liabilities, Net 0.14%

             16,362
           

TOTAL NET ASSETS - 100.00%

           $ 11,458,813
           

 

Footnotes

 

The following information for the Funds is presented on an income tax basis as of September 30, 2005:

 

     Cost of
Investments
    Unrealized
Appreciation
    Unrealized
Depreciation
     Net Unrealized
Gain/(Loss)

Timothy Strategic Growth Variable

    10,634,830    879,589    (68,968 )   807,621

 

The difference between cost amounts for financial statement and federal income tax purposes is due primarily to timing differences in recognizing certain gains and losses on security transactions.

Percentages are stated as a percent of net assets.

(a) Non-income producing security

Item 2. Controls and Procedures.

 

(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers as appropriate to allow timely decisions regarding required disclosure.

 

(b) There were no changes to the Registrant’s internal control over financial reporting (as defined in Rule 30a- 3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940

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.

 

(Registrant)The Timothy Plan

 

By

  

/s/ Arthur D. Ally

    Arthur D. Ally

 

Date: November 1, 2005

 

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

Date: November 1, 2005

By

  

/s/ Arthur D. Ally

    Arthur D. Ally, Treasurer

Date: November 1, 2005

 EX-99.CERT 2 dex99cert.htm CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

Exhibit 99.302CERT

 

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 registrant’s 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) 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) Evaluated the effectiveness of the registrant’s 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

 

c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s 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 registrant’s 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 registrant’s internal control over financial reporting.

 

Date: November 1, 2005  

/s/Arthur D. Ally

    Arthur D. Ally, President

Exhibit 99.302CERT

 

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 registrant’s 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) 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) Evaluated the effectiveness of the registrant’s 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

 

c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s 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 registrant’s 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 registrant’s internal control over financial reporting.

 

Date: November 1, 2005  

/s/Arthur D. Ally

   

Arthur D. Ally, Treasurer

 -----END PRIVACY-ENHANCED MESSAGE-----