Schedule of Investments | Aggressive Growth Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 97.2%
		AEROSPACE & DEFENSE - 1.0%
	639	TransDigm Group, Inc. *	$	395,445
		APPAREL & TEXTILE PRODUCTS - 1.8%
	2,579	Deckers Outdoor Corp. *		739,606
		BIOTECH & PHARMA - 5.9%
	18,633	Horizon Therapeutics PLC *		1,363,004
	6,752	United Therapeutics Corp. *		1,024,886
				2,387,890
		CONTAINERS & PACKAGING - 2.7%
	10,961	Crown Holdings, Inc. *		1,098,292
		ELECTRICAL EQUIPMENT - 3.5%
	3,686	Fortive Corp.		261,043
	2,744	Generac Holdings, Inc. *		624,013
	3,671	Trane Technologies PLC		532,882
				1,417,938
		FORESTRY, PAPER & WOOD PRODUCTS - 1.0%
	4,816	Trex Company, Inc. *		403,196
		HEALTH CARE FACILITIES & SERVICES - 3.6%
	6,460	Catalent, Inc. *		672,292
	4,047	ICON PLC *		789,084
				1,461,376
		HOUSEHOLD PRODUCTS - 2.0%
	3,638	Helen of Troy Ltd. *		808,327
		INDUSTRIAL SUPPORT SERVICES - 1.5%
	2,646	United Rentals, Inc. *		613,634
		LEISURE FACILITIES & SERVICES - 3.8%
	66,212	Bloomin’ Brands, Inc.		1,285,837
	692	Domino’s Pizza, Inc.		265,354
				1,551,191
		MACHINERY - 2.9%
	9,435	Oshkosh Corp.		812,070
	1,376	Parker-Hannifin Corp.		374,836
				1,186,906
		MEDICAL EQUIPMENT & DEVICES - 17.7%
	23,345	Avantor, Inc. *		657,162
	1,061	DexCom, Inc. *		392,273
	9,731	Edwards Lifesciences Corp. *		887,759
	1,694	Insulet Corp. *		433,037
	14,484	Natera, Inc. *		1,441,448
	2,963	Novocure Ltd. *		512,718
	2,694	Quidel Corp. *		483,977
	3,713	Repligen Corp. *		711,522
	1,774	STERIS PLC		336,244
	3,259	Teleflex, Inc.		1,341,307
				7,197,447
		RENEWABLE ENERGY - 3.1%
	4,359	Enphase Energy, Inc. *		764,874
	7,369	Sunrun, Inc. *		511,261
				1,276,135
		RETAIL - CONSUMER STAPLES - 0.8%
	4,176	Ollie’s Bargain Outlet Holdings, Inc. *		341,472

Schedule of Investments | Aggressive Growth Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		RETAIL - DISCRETIONARY - 5.5%
	5,294	Burlington Stores, Inc. *	$	1,384,646
	3,585	Carvana Co. *		858,751
				2,243,397
		SEMICONDUCTORS - 12.8%
	1,932	KLA Corp.		500,214
	1,855	Lam Research Corp.		876,061
	35,907	Marvell Technology Group Ltd.		1,707,019
	4,239	Monolithic Power System, Inc.		1,552,449
	4,539	Teradyne, Inc.		544,181
				5,179,924
		SOFTWARE - 18.1%
	1,161	ANSYS, Inc. *		422,372
	5,778	Five9, Inc. *		1,007,683
	498	HubSpot, Inc. *		197,427
	17,373	Rapid7, Inc. *		1,566,350
	3,787	RingCentral, Inc. *		1,435,159
	1,971	ServiceNow, Inc. *		1,084,898
	3,055	Twilio, Inc. *		1,034,117
	3,694	Varonis Systems, Inc. *		604,375
				7,352,381
		TECHNOLOGY SERVICES - 9.5%
	1,127	EPAM Systems, Inc. *		403,860
	7,181	Fidelity National Information Services, Inc.		1,015,824
	5,103	Fiserv, Inc. *		581,028
	1,207	MarketAxess Holdings, Inc.		688,666
	1,678	MSCI, Inc.		749,277
	4,020	TransUnion		398,864
				3,837,519
		TOTAL COMMON STOCK (Cost $26,102,733)		39,492,076
		REITs - 1.7%
	20,341	Physicians Realty Trust		362,070
	9,860	STAG Industrial, Inc.		308,815
		TOTAL REITs (Cost $602,228)		670,885
		MONEY MARKET FUND - 1.1%
	460,514	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (A) (Cost $460,514)		460,514
		TOTAL INVESTMENTS - 100.0% (Cost $27,165,475)	$	40,623,475
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 0.0%		(2,826	)
		NET ASSETS - 100.0%	$	40,620,649

* Non-income producing securities.

PLC - Public Limited Co.

REITs - Real Estate Investment Trusts.

(A) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | International Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 98.9%
		AEROSPACE & DEFENSE - 1.7%
	48,000	Safran SA (ADR) *	$	1,702,080
		AUTOMOTIVE - 4.2%
	37,300	Magna International, Inc. - Class A		2,640,840
	76,500	Valeo SA (ADR)		1,499,400
				4,140,240
		BANKING - 9.8%
	33,839	DBS Group Holdings Ltd. (ADR)		2,573,456
	83,000	DNB ASA (ADR) *		1,627,630
	21,900	HDFC Bank Ltd. (ADR) *		1,582,494
	84,100	ICICI Bank Ltd. (ADR) *		1,249,726
	163,000	Itau Unibanco Holding SA (ADR)		992,670
	48,600	KBC Group NV (ADR) *		1,695,654
				9,721,630
		CHEMICALS - 1.6%
	13,400	Arkema SA (ADR)		1,553,516
		CONSTRUCTION MATERIALS - 2.1%
	38,500	Xinyi Glass Holdings Ltd. (ADR)		2,060,520
		CONSUMER SERVICES - 0.5%
	2,800	New Oriental Education & Technology Group, Inc. (ADR) *		520,268
		E-COMMERCE DISCRETIONARY - 0.8%
	4,400	Pinduoduo, Inc. (ADR) *		781,748
		ELECTRIC UTILITIES - 2.6%
	258,000	Enel SpA (ADR)		2,618,700
		ELECTRICAL EQUIPMENT - 1.4%
	49,200	Schneider Electric SE (ADR)		1,424,340
		ENGINEERING & CONSTRUCTION - 3.0%
	121,000	Vinci SA (ADR)		3,015,320
		FOOD - 3.6%
	18,000	Kerry Group PLC (ADR)		2,694,240
	40,000	Mowi ASA (ADR)		884,800
				3,579,040
		HEALTH CARE FACILITIES & SERVICES - 1.2%
	30,000	Fresenius Medical Care AG & Co. (ADR)		1,246,800
		HOUSEHOLD PRODUCTS - 1.5%
	100,000	Kao Corp. (ADR)		1,544,000
		INDUSTRIAL SUPPORT SERVICES - 1.7%
	9,000	Ashtead Group PLC (ADR)		1,705,500
		INSTITUTIONAL FINANCIAL SERVICES - 2.5%
	146,500	Deutsche Boerse AG (ADR)		2,475,850
		INSURANCE - 7.0%
	31,100	Ageas (ADR)		1,660,429
	52,000	AIA Group Ltd. (ADR)		2,554,760
	52,400	Muenchener Rueckversicherungs AG (ADR)		1,556,804
	57,600	Sampo Oyj (ADR)		1,240,704
				7,012,697

Schedule of Investments | International Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		INTERNET MEDIA & SERVICES - 4.9%
	33,000	Naspers Ltd. (ADR)	$	1,341,120
	66,000	Prosus NV (ADR)		1,431,540
	30,200	Yandex NV *		2,101,316
				4,873,976
		LEISURE PRODUCTS - 1.7%
	71,000	Shimano, Inc. (ADR)		1,670,623
		MACHINERY - 9.2%
	47,500	Atlas Copco AB (ADR)		2,137,975
	70,000	FANUC Corp. (ADR)		1,728,300
	74,650	Techtronic Industries Co. (ADR)		5,327,024
				9,193,299
		MEDICAL EQUIPMENT & DEVICES - 6.9%
	39,200	Alcon, Inc. *		2,586,416
	18,700	Hoya Corp. (ADR)		2,595,373
	41,400	Smith & Nephew PLC (ADR)		1,745,838
				6,927,627
		METALS & MINING - 2.0%
	26,000	Rio Tinto PLC (ADR)		1,955,720
		OIL & GAS PRODUCERS - 3.3%
	136,000	Equinor ASA (ADR)		2,233,120
	194,000	Galp Energia SGPS SA (ADR)		1,018,500
				3,251,620
		RETAIL - CONSUMER STAPLES - 1.1%
	45,948	Pan Pacific International Holdings Corp. (ADR)		1,068,750
		SEMICONDUCTORS - 7.2%
	6,250	ASML Holding NV (ADR)		3,048,250
	12,900	NXP Semiconductors NV		2,051,229
	19,000	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		2,071,760
				7,171,239
		SOFTWARE - 5.0%
	11,500	Nice Ltd. (ADR) *		3,260,710
	37,640	Open Text Corp.		1,711,114
				4,971,824
		SPECIALTY FINANCE - 1.6%
	21,000	ORIX Corp. (ADR)		1,623,930
		TECHNOLOGY HARDWARE - 1.1%
	21,438	FUJIFILM Holdings Corp. (ADR)		1,135,142
		TECHNOLOGY SERVICES - 4.5%
	36,400	Amadeus IT Group SA (ADR)		2,735,096
	31,500	Pagseguro Digital Ltd. *		1,791,720
				4,526,816
		TELECOMMUNICATIONS - 2.0%
	77,300	Nippon Telegraph & Telephone Corp. (ADR)		1,986,610
		TRANSPORTATION & LOGISTICS - 3.2%
	9,100	Canadian Pacific Railway Ltd.		3,154,879
		TOTAL COMMON STOCK (Cost $66,766,280)		98,614,304

Schedule of Investments | International Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		MONEY MARKET FUND - 1.4%
	1,339,805	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (A) (Cost $1,339,805)	$	1,339,805
		TOTAL INVESTMENTS - 100.3% (Cost $68,106,085)	$	99,954,109
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.3)%		(274,120	)
		NET ASSETS - 100.0%	$	99,679,989

* Non-income producing securities.

ADR - American Depositary Receipt.

PLC - Public Limited Co.

(A) Variable rate security; the rate shown represents the yield at December 31, 2020.

Diversification of Assets
Country	% of Net Assets
Japan	13.4%
Hong Kong	10.0%
France	9.2%
Canada	7.5%
Netherlands	6.6%
United Kingdom	5.4%
Germany	5.3%
Norway	4.8%
Belgium	3.4%
Israel	3.3%
India	2.8%
Brazil	2.8%
Spain	2.7%
Ireland	2.7%
Italy	2.6%
Switzerland	2.6%
Singapore	2.6%
Sweden	2.1%
Russia	2.1%
Taiwan	2.1%
South Africa	1.4%
China	1.3%
Finland	1.2%
Portugal	1.0%
Total	98.9%
Money Market Fund	1.4%
Other Assets Less Liabilities - Net	(0.3)%
Grand Total	100.0%

Schedule of Investments | Large/Mid Cap Growth Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 78.5%
		AEROSPACE/DEFENSE - 1.1%
	8,766	General Dynamics Corp.	$	1,304,556
		BANKING - 0.6%
	11,521	Western Alliance Bancorp		690,684
		BIOTECH & PHARMA - 7.4%
	3,011	Amgen, Inc.		692,289
	20,034	Horizon Therapeutics PLC *		1,465,487
	7,027	Neurocrine Biosciences, Inc. *		673,538
	6,377	Sarepta Therapeutics, Inc. *		1,087,215
	5,775	Vertex Pharmaceuticals, Inc. *		1,364,863
	19,987	Zoetis, Inc.		3,307,849
				8,591,241
		CHEMICALS - 1.9%
	11,405	FMC Corp.		1,310,777
	3,654	Linde PLC		962,866
				2,273,643
		CONSUMER SERVICES - 0.5%
	5,730	Grand Canyon Education, Inc. *		533,520
		DIVERSIFIED INDUSTRIALS - 2.8%
	17,487	Emerson Electric Co.		1,405,430
	8,827	Honeywell International, Inc.		1,877,503
				3,282,933
		ELECTRIC UTILITIES - 0.8%
	32,599	PPL Corp.		919,292
		ELECTRICAL EQUIPMENT - 4.0%
	14,293	Amphenol Corp. - Class A		1,869,096
	14,752	Fortive Corp.		1,044,737
	12,495	Trane Technologies PLC		1,813,774
				4,727,607
		FOOD - 1.2%
	14,922	McCormick & Co., Inc.		1,426,543
		HEALTH CARE FACILITIES & SERVICES - 1.2%
	7,913	IQVIA Holdings, Inc. *		1,417,772
		INSTITUTIONAL FINANCIAL SERVICES - 1.5%
	15,583	Intercontinental Exchange, Inc.		1,796,564
		INSURANCE - 1.8%
	16,847	Arthur J. Gallagher & Co.		2,084,142
		LEISURE FACILITIES & SERVICES - 1.5%
	1,240	Chipotle Mexican Grill, Inc. *		1,719,520
		MACHINERY - 1.6%
	5,910	Caterpillar, Inc.		1,075,738
	9,839	Oshkosh Corp.		846,843
				1,922,581
		MEDICAL EQUIPMENT & DEVICES - 7.6%
	11,750	Baxter International, Inc.		942,820
	5,348	Danaher Corp.		1,188,005
	17,599	Edwards Lifesciences Corp. *		1,605,557
	6,345	Insulet Corp. *		1,621,972
	2,124	Intuitive Surgical, Inc. *		1,737,644
	4,237	Teleflex, Inc.		1,743,822
				8,839,820
		OIL & GAS PRODUCERS - 0.5%
	14,205	ConocoPhillips		568,058

Schedule of Investments | Large/Mid Cap Growth Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		RETAIL - CONSUMER STAPLES - 4.1%
	6,637	Costco Wholesale Corp.	$	2,500,689
	10,820	Dollar General Corp.		2,275,446
				4,776,135
		RETAIL - DISCRETIONARY - 4.7%
	6,181	Burlington Stores, Inc. *		1,616,641
	32,984	Foot Locker, Inc.		1,333,873
	2,595	Lululemon Athletica, Inc. *		903,138
	3,596	O’Reilly Automotive, Inc. *		1,627,442
				5,481,094
		SEMICONDUCTORS - 14.8%
	35,627	Advanced Micro Devices, Inc. *		3,267,352
	6,004	Broadcom Ltd.		2,628,851
	19,091	Maxim Integrated Products, Inc.		1,692,417
	19,251	Micron Technology, Inc. *		1,447,290
	5,418	Monolithic Power Systems, Inc.		1,984,234
	7,358	NVIDIA Corp.		3,842,348
	15,189	NXP Semiconductors NV		2,415,203
				17,277,695
		SOFTWARE - 10.1%
	2,442	HubSpot, Inc. *		968,106
	5,355	Palo Alto Networks, Inc. *		1,903,113
	27,577	Rapid7, Inc. *		2,486,342
	6,990	ServiceNow, Inc. *		3,847,506
	10,003	Synopsys, Inc. *		2,593,178
				11,798,245
		TECHNOLOGY HARDWARE - 1.1%
	22,344	Western Digital Corp.		1,237,634
		TECHNOLOGY SERVICES - 6.3%
	21,562	CDW Corp.		2,841,656
	5,416	EPAM Systems, Inc. *		1,940,824
	9,694	Fidelity National Information Services, Inc.		1,371,313
	2,076	MarketAxess Holdings, Inc.		1,184,483
				7,338,276
		TRANSPORTATION & LOGISTICS - 1.4%
	4,624	Canadian Pacific Railway Ltd.		1,603,095
		TOTAL COMMON STOCK (Cost $58,203,620)		91,610,650
		EXCHANGE TRADED FUND (A) - 19.0%
	720,000	Timothy Plan US Large/Mid Cap Core ETF (Cost $18,061,200)		22,219,200
		MONEY MARKET FUND - 2.5%
	2,854,314	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (B) (Cost $2,854,314)		2,854,314
		TOTAL INVESTMENTS - 100.0% (Cost $79,119,134)	$	116,684,164
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 0.0%		(24,301	)
		NET ASSETS - 100.0%	$	116,659,863

* Non-income producing securities.

ETF - Exchange Traded Fund.

PLC - Public Limited Co.

(A) Affiliated Fund.

(B) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Small Cap Value Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 79.1%
		AEROSPACE/DEFENSE - 3.5%
	43,167	Kaman Corp.	$	2,466,131
	32,245	Moog, Inc.		2,557,028
				5,023,159
		APPAREL & TEXTILE PRODUCTS - 1.8%
	38,593	Oxford Industries, Inc.		2,528,227
		BANKING - 12.6%
	35,267	Columbia Banking System, Inc.		1,266,085
	132,322	Great Western Bancorp, Inc.		2,765,530
	96,491	Hilltop Holdings, Inc.		2,654,467
	32,488	International Bancshares Corp.		1,216,351
	73,500	Provident Financial Services, Inc.		1,320,060
	76,162	Renasant Corp.		2,565,136
	81,205	Sandy Spring Bancorp, Inc.		2,613,989
	42,722	Trustmark Corp.		1,166,738
	94,360	Washington Federal, Inc.		2,428,826
				17,997,182
		CHEMICALS - 4.4%
	62,638	Avient Corp.		2,523,059
	14,731	Innospec, Inc.		1,336,544
	20,372	Stepan Co.		2,430,787
				6,290,390
		COMMERCIAL SUPPORT SERVICES - 0.8%
	5,363	UniFirst Corp.		1,135,293
		E-COMMERCE DISCRETIONARY - 1.2%
	64,832	1-800-Flowers.com, Inc. *		1,685,632
		ELECTRIC UTILITIES - 4.1%
	62,134	Avista Corp.		2,494,059
	41,963	NorthWestern Corp.		2,446,863
	19,088	PNM Resources, Inc.		926,341
				5,867,263
		ELECTRICAL EQUIPMENT - 0.8%
	9,773	Novanta, Inc. *		1,155,364
		ENGINEERING & CONSTRUCTION - 1.7%
	47,048	Comfort Systems USA, Inc.		2,477,548
		FOOD - 3.5%
	172,080	Hostess Brands, Inc. *		2,519,251
	15,681	J & J Snack Foods Corp.		2,436,357
				4,955,608
		FORESTRY, PAPER & WOOD PRODUCTS - 1.7%
	44,145	UFP Industries, Inc.		2,452,255
		GAS & WATER UTILITIES - 1.8%
	117,649	South Jersey Industries, Inc.		2,535,336
		HEALTH CARE FACILITIES & SERVICES - 2.6%
	30,814	Magellan Health, Inc. *		2,552,632
	40,518	Patterson Companies, Inc.		1,200,548
				3,753,180
		HOME & OFFICE PRODUCTS - 1.6%
	155,623	Knoll, Inc.		2,284,546
		HOME CONSTRUCTION - 3.4%
	55,250	Century Communities, Inc. *		2,418,845
	25,615	Masonite International Corp. *		2,518,979
				4,937,824
		HOUSEHOLD PRODUCTS - 1.7%
	68,985	Central Garden & Pet Co. *		2,506,225

Schedule of Investments | Small Cap Value Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		INSTITUTIONAL FINANCIAL SERVICES - 3.7%
	55,147	Moelis & Co.	$	2,578,674
	26,258	Piper Sandler Companies		2,649,432
				5,228,106
		INSURANCE - 4.5%
	55,251	Argo Group International Holdings Ltd.		2,414,469
	52,784	James River Group Holdings Ltd.		2,594,334
	28,208	Mercury General Corp.		1,472,740
				6,481,543
		LEISURE FACILITIES & SERVICES - 4.5%
	134,234	Bloomin’ Brands, Inc.		2,606,824
	13,570	Jack in the Box, Inc.		1,259,296
	30,082	Papa John’s International, Inc.		2,552,458
				6,418,578
		LEISURE PRODUCTS - 1.8%
	107,512	Callaway Golf Co.		2,581,363
		MACHINERY - 5.2%
	8,776	Alamo Group, Inc.		1,210,649
	47,091	Altra Industrial Motion Corp.		2,610,254
	30,376	Columbus McKinnon Corp.		1,167,653
	72,438	Federal Signal Corp.		2,402,768
				7,391,324
		MEDICAL EQUIPMENT & DEVICES - 3.5%
	24,071	CONMED Corp.		2,695,952
	41,770	Merit Medical Systems, Inc. *		2,318,653
				5,014,605
		OIL & GAS PRODUCERS - 1.2%
	82,042	PDC Energy, Inc. *		1,684,322
		RETAIL - DISCRETIONARY - 1.9%
	50,125	Monro, Inc.		2,671,662
		SEMICONDUCTORS - 1.8%
	166,945	Amkor Technology, Inc. *		2,517,531
		TECHNOLOGY HARDWARE - 1.9%
	179,932	Viavi Solutions, Inc. *		2,694,482
		TECHNOLOGY SERVICES - 1.9%
	97,873	Repay Holdings Corp. *		2,667,039
		TOTAL COMMON STOCK (Cost $97,772,411)		112,935,587
		EXCHANGE TRADED FUND (A) - 11.2%
	580,000	Timothy Plan US Small Cap Core ETF (Cost $14,834,080)		16,076,034
		REITs - 8.6%
	144,344	Columbia Property Trust, Inc.		2,069,893
	101,717	Easterly Government Properties, Inc.		2,303,890
	69,649	National Storage Affiliates Trust		2,509,453
	53,289	PotlatchDeltic Corp.		2,665,516
	173,912	Summit Hotel Properties, Inc.		1,566,947
	19,159	Terreno Realty Corp.		1,120,993
		TOTAL REITs (Cost $12,593,022)		12,236,692

Schedule of Investments | Small Cap Value Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		MONEY MARKET FUND - 1.3%
	1,936,521	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (B) (Cost $1,936,521)	$	1,936,521
		TOTAL INVESTMENTS - 100.2% (Cost $127,136,034)	$	143,184,834
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.2)%		(346,735	)
		NET ASSETS - 100.0%	$	142,838,099

* Non-income producing securities.

ETF - Exchange Traded Fund.

REITs - Real Estate Investment Trusts.

(A) Affiliated Fund.

(B) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Large/Mid Cap Value Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 68.1%
		AEROSPACE/DEFENSE - 1.7%
	23,898	General Dynamics Corp.	$	3,556,500
		BANKING - 4.0%
	55,493	BOK Financial Corp.		3,800,161
	75,095	Western Alliance Bancorp		4,501,945
				8,302,106
		CABLE & SATELLITE - 4.6%
	2,210	Cable One, Inc.		4,923,261
	29,725	Liberty Broadband Corp. *		4,707,548
				9,630,809
		CHEMICALS - 1.8%
	5,127	Sherwin-Williams Co.		3,767,884
		DIVERSIFIED INDUSTRIALS - 3.5%
	24,701	Eaton Corp. PLC		2,967,578
	20,741	Honeywell International, Inc.		4,411,611
				7,379,189
		ELECTRIC UTILITIES - 3.4%
	52,787	CMS Energy Corp.		3,220,535
	41,385	WEC Energy Group, Inc.		3,808,662
				7,029,197
		ELECTRICAL EQUIPMENT - 2.7%
	28,997	Amphenol Corp. - Class A		3,791,938
	11,559	Hubbell, Inc.		1,812,336
				5,604,274
		FOOD - 5.3%
	30,466	JM Smucker Co.		3,521,870
	51,700	Lamb Weston Holdings, Inc.		4,070,858
	35,800	McCormick & Co., Inc.		3,422,480
				11,015,208
		INSTITUTIONAL FINANCIAL SERVICES - 1.7%
	31,769	Intercontinental Exchange, Inc.		3,662,648
		INSURANCE - 3.9%
	29,413	Arthur J. Gallagher & Co.		3,638,682
	33,255	Assurant, Inc.		4,529,996
				8,168,678
		MACHINERY - 1.9%
	34,530	Curtiss-Wright Corp.		4,017,565
		MEDICAL EQUIPMENT & DEVICES - 5.6%
	27,155	PerkinElmer, Inc.		3,896,742
	18,640	STERIS PLC		3,533,026
	27,589	Zimmer Biomet Holdings, Inc.		4,251,189
				11,680,957
		OIL & GAS PRODUCERS - 1.0%
	44,205	EOG Resources, Inc.		2,204,503

Schedule of Investments | Large/Mid Cap Value Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		RETAIL - CONSUMER STAPLES - 2.0%
	19,459	Dollar General Corp.	$	4,092,228
		RETAIL - DISCRETIONARY - 3.4%
	7,830	O’Reilly Automotive, Inc. *		3,543,623
	24,858	Tractor Supply Co.		3,494,538
				7,038,161
		SEMICONDUCTORS - 6.5%
	74,045	Micron Technology, Inc. *		5,566,703
	11,270	Monolithic Power Systems, Inc.		4,127,412
	7,259	NVIDIA Corp.		3,790,650
				13,484,765
		SOFTWARE - 5.7%
	30,325	Cadence Design Systems, Inc. *		4,137,240
	15,530	Synopsys, Inc. *		4,025,997
	8,458	Tyler Technologies, Inc. *		3,692,086
				11,855,323
		TECHNOLOGY SERVICES - 5.5%
	15,401	CACI International, Inc. *		3,839,931
	33,644	Fiserv, Inc. *		3,830,706
	91,227	Genpact Ltd.		3,773,149
				11,443,786
		TRANSPORTATION & LOGISTICS - 2.0%
	20,188	Union Pacific Corp.		4,203,545
		TRANSPORTATION EQUIPMENT - 1.9%
	54,866	Westinghouse Air Brake Technologies Corp.		4,016,191
		TOTAL COMMON STOCK (Cost $102,890,562)		142,153,517
		EXCHANGE TRADED FUNDS (A) - 25.0%
	920,000	Timothy Plan High Dividend Stock ETF		23,837,200
	920,000	Timothy Plan US Large/Mid Cap Core ETF		28,391,200
		TOTAL EXCHANGE TRADED FUNDS (Cost $46,064,400)		52,228,400
		REITs - 4.0%
	21,454	Crown Castle International Corp.		3,415,262
	22,205	CyrusOne, Inc.		1,624,296
	14,653	Public Storage		3,383,817
		TOTAL REITs (Cost $7,901,737)		8,423,375
		MONEY MARKET FUND - 3.0%
	6,267,799	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (B) (Cost $6,267,799)		6,267,799
		TOTAL INVESTMENTS - 100.1% (Cost $163,124,498)	$	209,073,091
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.1)%		(190,555	)
		NET ASSETS - 100.0%	$	208,882,536

* Non-income producing securities.

ETF - Exchange Traded Fund.

PLC - Public Limited Co.

REITs - Real Estate Investment Trusts.

(A) Affiliated Funds.

(B) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Fixed Income Fund

As of December 31, 2020 (Unaudited)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		BONDS & NOTES - 97.6%
		CORPORATE BONDS - 23.5%
$	1,000,000	ABB Finance USA, Inc.	2.875	5/8/2022	$	1,033,984
	1,000,000	American Electric Power	3.200	11/13/2027		1,120,608
	500,000	Analog Devices, Inc.	3.900	12/15/2025		570,983
	1,000,000	Aptiv Corp.	4.150	3/15/2024		1,101,446
	1,000,000	Canadian Pacific RR Co.	2.900	2/1/2025		1,083,779
	1,000,000	CBOE Holdings, Inc.	3.650	1/12/2027		1,138,947
	1,000,000	Columbia Pipeline Group, Inc.	4.500	6/1/2025		1,151,142
	1,000,000	CSX Corp.	3.250	6/1/2027		1,131,873
	500,000	Digital Realty Trust LP	3.700	8/15/2027		575,019
	500,000	Dollar General Corp.	4.125	5/1/2028		590,427
	750,000	Eaton Corp.	2.750	11/2/2022		782,868
	1,000,000	Enable Midstream Partners LP	3.900	5/15/2024		1,023,037
	855,000	European Investment Bank	2.375	6/15/2022		882,341
	880,000	Healthpeak Properties, Inc.	3.500	7/15/2029		999,670
	871,187	John Sevier Combined Cycle Generation LLC	4.626	1/15/2042		1,108,041
	1,000,000	Kennametal, Inc.	3.875	2/15/2022		1,026,831
	865,000	Kreditanstalt fuer Wiederaufbau	2.125	6/15/2022		889,587
	800,000	LYB International Finance BV	4.000	7/15/2023		868,463
	855,000	National Rural Utilities Cooperative Finance Corp.	2.950	2/7/2024		915,389
	1,500,000	NiSource Finance Corp.	3.490	5/15/2027		1,703,260
	1,000,000	Nutrien Ltd.	4.000	12/15/2026		1,163,830
	1,000,000	Phillips 66 Partners LP	3.605	2/15/2025		1,081,925
	870,000	Province of Ontario Canada	2.500	4/27/2026		955,938
	865,000	Province of Quebec Canada	2.375	1/31/2022		884,727
	700,000	Sunoco Logistics Partners LP	4.250	4/1/2024		758,266
	1,200,000	Ventas Realty LP	3.250	8/15/2022		1,245,397
	830,000	WEC Energy Group, Inc.	3.550	6/15/2025		926,043
	1,000,000	Zimmer Biomet Holdings, Inc.	3.700	3/19/2023		1,067,411
		TOTAL CORPORATE BONDS (Cost $25,479,348)				27,781,232
		U.S. GOVERNMENT & AGENCY OBLIGATIONS - 74.1%
		GOVERNMENT MORTGAGE-BACKED SECURITIES - 18.5%
	194,879	GNMA Pool G2 4520	5.000	8/20/2039		222,907
	252,079	GNMA Pool G2 4947	5.000	2/20/2041		289,059
	899,870	GNMA Pool G2 BN2662	3.000	10/20/2049		943,052
	585,045	GNMA Pool G2 MA3376	3.500	1/20/2046		630,048
	395,337	GNMA Pool G2 MA3596	3.000	4/20/2046		421,064
	1,044,518	GNMA Pool G2 MA3663	3.500	5/20/2046		1,131,170
	381,648	GNMA Pool G2 MA3736	3.500	6/20/2046		415,363
	634,379	GNMA Pool G2 MA4004	3.500	10/20/2046		684,286
	424,639	GNMA Pool G2 MA4509	3.000	6/20/2047		451,353
	572,482	GNMA Pool G2 MA4652	3.500	8/20/2047		613,689
	729,209	GNMA Pool G2 MA4719	3.500	9/20/2047		787,325
	745,415	GNMA Pool G2 MA4778	3.500	10/20/2047		801,222
	607,093	GNMA Pool G2 MA4901	4.000	12/20/2047		655,029
	547,919	GNMA Pool G2 MA4963	4.000	1/20/2048		591,858
	617,984	GNMA Pool G2 MA6092	4.500	8/20/2049		666,523
	704,650	GNMA Pool G2 MA6156	4.500	9/20/2049		763,624
	636,278	GNMA Pool G2 MA6221	4.500	10/20/2049		688,557
	1,097,318	GNMA Pool G2 MA6338	3.000	12/20/2049		1,148,250
	1,071,208	GNMA Pool G2 MA6476	4.000	2/20/2050		1,144,303
	757,689	GNMA Pool G2 MA6477	4.500	2/20/2050		814,616
	1,052,871	GNMA Pool G2 MA6478	5.000	2/20/2050		1,152,079
	1,222,232	GNMA Pool G2 MA6544	4.500	3/20/2050		1,315,316
	859,396	GNMA Pool G2 MA6545	5.000	3/20/2050		938,147
	938,246	GNMA Pool G2 MA6600	3.500	4/20/2050		995,576
	864,661	GNMA Pool G2 MA6601	4.000	4/20/2050		922,229
	871,176	GNMA Pool G2 MA6603	5.000	4/20/2050		953,048
	1,054,834	GNMA Pool G2 MA6865	2.500	9/20/2050		1,117,840
	29,849	GNMA Pool GN 723248	5.000	10/15/2039		34,419
	403,673	GNMA Pool GN 783060	4.000	8/15/2040		440,208
	161,707	GNMA Pool GN 783403	3.500	9/15/2041		172,905
		TOTAL GOVERNMENT MORTGAGE-BACKED SECURITIES (Cost $21,413,829)				21,905,065

Schedule of Investments | Fixed Income Fund

As of December 31, 2020 (Unaudited) (Continued)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		GOVERNMENT NOTES & BONDS - 55.6%
$	4,280,000	United States Treasury Note	3.125	5/15/2021	$	4,326,970
	7,290,000	United States Treasury Note	2.125	6/30/2022		7,508,700
	2,895,000	United States Treasury Note	0.250	6/15/2023		2,902,803
	10,945,000	United States Treasury Note	2.250	11/15/2024		11,794,092
	14,820,000	United States Treasury Note	2.000	8/15/2025		15,967,392
	8,260,000	United States Treasury Note	1.625	2/15/2026		8,787,220
	5,805,000	United States Treasury Note	1.500	2/15/2030		6,142,189
	4,540,000	United States Treasury Note	4.500	2/15/2036		6,664,401
	1,215,000	United States Treasury Note	3.000	2/15/2049		1,603,041
		TOTAL GOVERNMENT NOTES & BONDS (Cost $62,871,689)				65,696,808
		TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost $84,285,518)				87,601,873
		TOTAL BONDS AND NOTES (Cost $109,764,866)				115,383,105
Shares
		MONEY MARKET FUND - 2.0%
	2,374,603	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (A) (Cost $2,374,603)				2,374,603
		TOTAL INVESTMENTS - 99.6% (Cost $112,139,469)			$	117,757,708
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 0.4%				459,039
		NET ASSETS - 100.0%			$	118,216,747

GNMA - Government National Mortgage Association.

LLC - Limited Liability Company.

LP - Limited Partnership.

(A) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | High Yield Bond Fund

As of December 31, 2020 (Unaudited)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS - 89.8%
$	500,000	Adient Global Holdings Ltd. (A)	4.875	8/15/2026	$	514,375
	1,000,000	Adient US LLC (A)	7.000	5/15/2026		1,089,350
	500,000	AerCap Global Aviation Trust, 3 mo. LIBOR + 4.30% (A)(B)	6.500	6/15/2045		511,250
	1,055,000	Alliance Data Systems Corp. (A)	4.750	12/15/2024		1,067,528
	1,000,000	Alliance Data Systems Corp. (A)	7.000	1/15/2026		1,059,675
	1,000,000	Alliance Resource Operating Partners LP (A)	7.500	5/1/2025		855,000
	1,000,000	Ashtead Capital, Inc. (A)	4.125	8/15/2025		1,029,500
	1,000,000	Ashton Woods Finance Co. (A)	6.750	8/1/2025		1,043,645
	293,000	Ashton Woods Finance Co. (A)	9.875	4/1/2027		330,302
	500,000	Ashton Woods Finance Co. (A)	6.625	1/15/2028		527,500
	250,000	Bausch Health Cos, Inc. (A)	5.000	1/30/2028		257,947
	125,000	Bausch Health Cos, Inc. (A)	5.000	2/15/2029		128,759
	50,000	Bausch Health Cos, Inc. (A)	5.250	2/15/2031		52,330
	1,000,000	Beazer Homes USA, Inc.	5.875	10/15/2027		1,054,375
	500,000	BWX Technologies, Inc. (A)	5.375	7/15/2026		521,155
	500,000	BWX Technologies, Inc. (A)	4.125	6/30/2028		522,187
	500,000	Cascades, Inc. (A)	5.125	1/15/2026		529,687
	500,000	Chemours Co.	7.000	5/15/2025		518,785
	1,500,000	Chemours Co. (A)	5.750	11/15/2028		1,532,812
	580,000	Clarios Global LP (A)	6.250	5/15/2026		622,775
	1,080,000	Clarios Global LP (A)	8.500	5/15/2027		1,175,104
	1,000,000	CommScope, Inc. (A)	8.250	3/1/2027		1,068,755
	750,000	CommScope, Inc. (A)	7.125	7/1/2028		799,740
	1,000,000	Compass Minerals International, Inc. (A)	6.750	12/1/2027		1,084,190
	250,000	Crestwood Midstream Finance Corp.	5.750	4/1/2025		255,000
	1,000,000	Crestwood Midstream Finance Corp. (A)	5.625	5/1/2027		991,875
	500,000	DCP Midstream, LLC, 3 mo. LIBOR + 3.85% (A) (B)	5.850	5/21/2043		432,147
	500,000	Diamond Sports Finance Co. (A)	5.375	8/15/2026		407,187
	1,000,000	Diversified Healthcare Trust	9.750	6/15/2025		1,137,500
	500,000	Double Eagle III Midco 1 LLC / Double Eagle Finance Corp. (A)	7.750	12/15/2025		531,440
	115,000	Freedom Mortgage Corp. (A)	8.125	11/15/2024		120,318
	1,000,000	Freedom Mortgage Corp. (A)	8.250	4/15/2025		1,047,500
	500,000	Freedom Mortgage Corp. (A)	7.625	5/1/2026		529,475
	500,000	Genesis Energy LP	7.750	2/1/2028		479,220
	294,000	Geo Group, Inc.	5.875	1/15/2022		292,673
	1,750,000	Geo Group, Inc.	5.125	4/1/2023		1,587,031
	250,000	GFL Environmental, Inc. (A)	3.750	8/1/2025		256,719
	400,000	GFL Environmental, Inc. (A)	8.500	5/1/2027		444,750
	50,000	GFL Environmental, Inc. (A)	4.000	8/1/2028		50,469
	1,000,000	Global Partners LP	7.000	8/1/2027		1,072,935
	500,000	Graham Packaging Co., Inc. (A)	7.125	8/15/2028		553,437
	500,000	Gray Television, Inc. (A)	7.000	5/15/2027		548,125
	250,000	Gray Television, Inc. (A)	4.750	10/15/2030		255,156
	1,500,000	Howard Hughes Corp. (A)	5.375	8/1/2028		1,616,062
	250,000	Icahn Enterprises Finance Corp.	4.750	9/15/2024		260,079
	1,000,000	Icahn Enterprises Finance Corp.	6.250	5/15/2026		1,061,240
	2,455,000	ILFC E-Capital Trust I, 1.55% (A)(B)	3.230	12/21/2065		1,657,125
	1,500,000	iStar, Inc.	5.500	2/15/2026		1,532,812
	500,000	Itron, Inc. (A)	5.000	1/15/2026		511,875
	250,000	Jefferies Finance LLC (A)	6.250	6/3/2026		260,079
	500,000	Ken Garff Automotive LLC (A)	4.875	9/15/2028		520,938
	1,500,000	Koppers, Inc. (A)	6.000	2/15/2025		1,547,813
	750,000	Ladder Capital Finance Corp. (A)	4.250	2/1/2027		738,750
	750,000	Legacy LifePoint Health LLC (A)	4.375	2/15/2027		752,813
	250,000	LifePoint Health, Inc. (A)	5.375	1/15/2029		249,775
	500,000	Magnolia Oil Gas (A)	6.000	8/1/2026		511,250
	1,000,000	MGIC Investment Corp.	5.250	8/15/2028		1,071,875
	250,000	Michaels Stores, Inc. (A)	4.750	10/1/2027		256,625
	2,000,000	Midwest Connector Capital Co. LLC (A)	4.625	4/1/2029		2,099,311
	1,000,000	Millicom International Cellular SA (A)	5.125	1/15/2028		1,064,400
	500,000	Nationstar Mortgage Holdings, Inc. (A)	6.000	1/15/2027		531,485
	250,000	Nationstar Mortgage Holdings, Inc. (A)	5.500	8/15/2028		262,969

Schedule of Investments | High Yield Bond Fund

As of December 31, 2020 (Unaudited) (Continued)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS - 89.8% (Cont.)
$	500,000	Navient Corp.	7.250	9/25/2023	$	548,928
	1,500,000	New Residential Investment Corp. (A)	6.250	10/15/2025		1,510,313
	1,500,000	Newmark Group, Inc.	6.125	11/15/2023		1,632,500
	1,500,000	NGL Energy Partners LP	6.125	3/1/2025		954,375
	250,000	NRG Energy, Inc. (A)	3.375	2/15/2029		256,419
	250,000	NRG Energy, Inc. (A)	3.625	2/15/2031		257,669
	1,000,000	NuStar Logistics LP	5.625	4/28/2027		1,067,315
	1,500,000	Occidental Petroleum Corp.	6.125	1/1/2031		1,609,050
	1,000,000	Olin Corp.	5.625	8/1/2029		1,087,505
	1,000,000	PBF Holding Co. LLC (A)	9.250	5/15/2025		987,325
	775,000	PBF Holding Co. LLC	7.250	6/15/2025		503,835
	1,000,000	PBF Holding Co. LLC	6.000	2/15/2028		573,125
	1,500,000	Plastipak Holdings, Inc. (A)	6.250	10/15/2025		1,547,813
	1,500,000	SeaWorld Parks & Entertainment, Inc. (A)	9.500	8/1/2025		1,631,250
	1,250,000	Service Properties Trust	7.500	9/15/2025		1,441,505
	500,000	Service Properties Trust	5.500	12/15/2027		547,142
	750,000	Signature Aviation US Holdings, Inc. (A)	5.375	5/1/2026		770,625
	1,000,000	Signature Aviation US Holdings, Inc. (A)	4.000	3/1/2028		1,008,340
	500,000	Spirit AeroSystems, Inc. (A)	5.500	1/15/2025		528,075
	1,000,000	Standard Industries, Inc. (A)	5.000	2/15/2027		1,046,875
	1,000,000	STL Holding Co. LLC (A)	7.500	2/15/2026		1,037,500
	1,000,000	Suburban Propane Partners LP	5.875	3/1/2027		1,048,125
	1,250,000	Targa Resources Partners LP	5.500	3/1/2030		1,358,300
	500,000	TEGNA, Inc. (A)	4.750	3/15/2026		534,525
	390,000	Tenet Healthcare Corp. (A)	4.625	9/1/2024		403,042
	1,000,000	Tenet Healthcare Corp. (A)	6.250	2/1/2027		1,061,395
	500,000	Trinity Industries, Inc.	4.550	10/1/2024		523,165
	1,000,000	TTM Technologies, Inc. (A)	5.625	10/1/2025		1,027,395
	1,500,000	United Natural Foods, Inc. (A)	6.750	10/15/2028		1,571,220
	750,000	Vistra Operations Co. LLC (A)	5.625	2/15/2027		798,825
	1,185,000	Vizient, Inc. (A)	6.250	5/15/2027		1,278,094
	1,500,000	Waste Pro USA, Inc. (A)	5.500	2/15/2026		1,538,108
	500,000	Weekley Finance Corp. (A)	4.875	9/15/2028		523,750
	1,750,000	Welbilt, Inc.	9.500	2/15/2024		1,811,976
		TOTAL CORPORATE BONDS (Cost $76,142,984)				79,422,363
		CONVERTIBLE BONDS - 3.2%
		OIL & GAS PRODUCERS - 2.6%
	2,879,000	Cheniere Energy, Inc.	4.250	3/15/2045		2,278,068
		SPECIALTY FINANCE - 0.6%
	500,000	Arbor Realty Trust, Inc.	4.750	11/1/2022		502,955
		TOTAL CONVERTIBLE BONDS (Cost $2,427,121)				2,781,023
Shares
		PREFERRED STOCK - 0.6%
		INDUSTRIAL SUPPORT SERVICES - 0.6%
	17,500	WESCO International, Inc., 0.625% (Cost $463,059)				546,875
		MONEY MARKET FUND - 5.1%
	4,527,152	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (C) (Cost $4,527,152)				4,527,152
		TOTAL INVESTMENTS - 98.7% (Cost $83,560,316)			$	87,277,413
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 1.3%				1,145,815
		NET ASSETS - 100.0%			$	88,423,228

LIBOR - London Interbank Offered Rate. The 3 month U.S. LIBOR rate as of December 31, 2020 is 0.24%.

LLC - Limited Liability Company.

LP - Limited Partnership.

(A) 144A Security - Security exempt from registration under Rule 144A of the Securities Act of 1933. The 144A securities had a fair value of $54,391,992 and represent 61.5% 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.

(B) Variable rate security; the interest rate shown reflects the effective rate at December 31, 2020.

(C) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Israel Common Values Fund

 As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 97.4%
		AEROSPACE & DEFENSE - 3.2%
	18,301	Elbit Systems Ltd.	$	2,393,771
	22,670	Ituran Location and Control Ltd.		431,863
				2,825,634
		APPAREL & TEXTILE PRODUCTS - 3.1%
	24,063	Delta Galil Industries Ltd.		609,744
	21,392	Fox Wizel Ltd.		2,147,994
				2,757,738
		AUTOMOTIVE - 0.4%
	4,461	Electreon Wireless Ltd. *		372,352
		BANKING - 14.3%
	96,500	Bank Hapoalim BM (ADR)		3,184,500
	589,000	Bank Leumi Le-Israel BM		3,467,080
	58,300	First International Bank Of Israel Ltd.		1,545,927
	532,000	Israel Discount Bank Ltd.		2,047,938
	105,000	Mizrahi Tefahot Bank Ltd.		2,428,133
				12,673,578
		BIOTECH & PHARMA - 1.7%
	48,000	Compugen Ltd. *		581,280
	450,000	Enlight Renewable Energy Ltd. *		939,018
				1,520,298
		CHEMICALS - 1.6%
	277,902	ICL Group Ltd.		1,403,405
	1	International Flavors & Fragrances, Inc.		99
				1,403,504
		CONSTRUCTION MATERIALS - 1.0%
	178,000	Inrom Construction Industries Ltd.		867,603
		ELECTRIC UTILITIES - 2.0%
	19,400	Ormat Technologies, Inc.		1,751,464
		FOOD - 1.8%
	—	Mehadrin Ltd. *		5
	54,500	Strauss Group Ltd.		1,635,951
				1,635,956
		HEALTH CARE FACILITIES & SERVICES - 4.4%
	14,769	Danel Adir Yeoshua Ltd.		2,435,128
	1,575,013	Novolog Ltd.		1,505,945
				3,941,073
		HOME & OFFICE PRODUCTS - 2.0%
	116,585	Maytronics Ltd.		1,753,060
		INSTITUTIONAL FINANCIAL SERVICES - 2.4%
	415,685	Tel Aviv Stock Exchange Ltd.		2,116,747
		INSURANCE - 4.9%
	184,000	Harel Insurance Investments & Financial Services Ltd. *		1,696,275
	1,230,000	Migdal Insurance & Financial Holding Ltd. *		1,417,404
	167,400	Phoenix Holdings Ltd. *		1,273,174
				4,386,853
		LEISURE FACILITIES & SERVICES - 0.5%
	4,000	Fattal Holdings 1998 Ltd. *		430,671
		MEDICAL EQUIPMENT & DEVICES - 0.9%
	4,700	Novocure Ltd. *		813,288

Schedule of Investments | Israel Common Values Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		OIL & GAS PRODUCERS - 3.7%
	62,968	Energean Oil & Gas PLC *	$	620,767
	5,600	Israel Corp. Ltd. *		1,068,793
	1,995,000	Oil Refineries Ltd. *		452,336
	7,000	Paz Oil Co. Ltd.		751,059
	1,012,500	Ratio Oil Exploration 1992 LP *		384,717
				3,277,672
		REAL ESTATE OWNERS & DEVELOPERS - 11.5%
	105,000	Alony Hetz Properties & Investments Ltd.		1,468,326
	176,000	Amot Investments Ltd.		986,122
	31,000	Azrieli Group Ltd.		1,970,568
	45,000	Elco Ltd.		2,280,273
	160,000	Gev-Yam Land Corp Ltd		1,304,597
	12,580	Melisron Ltd.		683,670
	593,430	Mivne Real Estate KD Ltd.		1,530,335
				10,223,891
		RENEWABLE ENERGY - 2.4%
	216,360	Energix-Renewable Energies Ltd.		987,864
	3,600	SolarEdge Technologies, Inc. *		1,148,832
				2,136,696
		RETAIL - CONSUMER STAPLES - 4.4%
	23,700	Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		1,660,801
	210,000	Shufersal Ltd.		1,622,026
	27,315	Victory Supermarket Chain Ltd.		623,920
				3,906,747
		SEMICONDUCTORS - 6.3%
	10,000	CEVA, Inc. *		455,000
	45,000	Nova Measuring Instruments Ltd. *		3,177,000
	1	Tower Semiconductor Ltd. *		16
	76,923	Tower Semiconductor Ltd. *		1,986,152
				5,618,168
		SOFTWARE - 18.7%
	18,100	CyberArk Software Ltd. *		2,924,779
	33,435	Hilan Ltd.		1,586,986
	23,400	Nice Ltd. (ADR) *		6,634,836
	6,000	One Software Technologies Ltd.		794,008
	45,300	Sapiens International Corp. NV		1,386,633
	11,400	Varonis Systems, Inc. *		1,865,154
	21,500	Verint Systems, Inc. *		1,444,370
				16,636,766
		TECHNOLOGY HARDWARE - 1.1%
	17,800	AudioCodes Ltd.		490,390
	4,900	Kornit Digital Ltd. *		436,737
				927,127
		TECHNOLOGY SERVICES - 2.8%
	78,783	Magic Software Enterprises Ltd.		1,232,954
	56,210	Matrix IT Ltd.		1,272,550
				2,505,504
		WHOLESALE - DISCRETIONARY - 2.3%
	27,300	Tadiran Holdings Ltd.		2,015,956
		TOTAL COMMON STOCK (Cost $49,819,994)		86,498,346

Schedule of Investments | Israel Common Values Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		REITs - 1.4%
	259,000	Reit 1 Ltd. * (Cost $1,256,747)	$	1,297,904
		MONEY MARKET FUND - 1.6%
	1,416,623	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (A) (Cost $1,416,623)		1,416,623
		TOTAL INVESTMENTS - 100.4% (Cost $52,493,364)	$	89,212,873
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.4)%		(377,116	)
		NET ASSETS - 100.0%	$	88,835,757

* Non-income producing securities.

ADR - American Depositary Receipt.

LP - Limited Partnership.

PLC - Public Limited Co.

REITs - Real Estate Investment Trusts.

(A) Variable rate security; the rate shown represents the yield at December 31, 2020.

Diversification of Assets
Country	% of Net Assets
Israel	91.0%
United States	6.2%
Jersey	0.9%
United Kingdom	0.7%
Iceland	0.0% *
Total	98.8%
Money Market Fund	1.6%
Other Assets Less Liabilities - Net	(0.4)%
Grand Total	100.0%

* Amount is less than 0.05%

Schedule of Investments | Defensive Strategies Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		COMMON STOCK - 21.2%
		CHEMICALS - 2.9%
	6,006	CF Industries Holdings, Inc.	$	232,492
	7,077	Corteva, Inc.		274,021
	1,448	FMC Corp.		166,419
	6,123	Mosaic Co.		140,890
	4,567	Nutrien Ltd		219,947
	1,463	Sasol Ltd. (ADR) *		12,962
	1,807	Sociedad Quimica Y Minera de Chile, SA (ADR)		88,706
				1,135,437
		COMMERCIAL SUPPORT SERVICES - 0.0% **
	1,043	Harsco Corp. *		18,753
		DIVERSIFIED INDUSTRIALS - 0.1%
	515	Pentair PLC		27,341
		FOOD - 0.8%
	5,133	BRF SA (ADR) *		21,559
	545	Cal-Maine Foods, Inc. *		20,459
	948	Darling Ingredients, Inc. *		54,681
	743	Fresh Del Monte Produce, Inc.		17,884
	815	Ingredion, Inc.		64,116
	1,100	Maple Leaf Foods, Inc.		24,366
	800	Maruha Nichiro Corp.		17,202
	200	Megmilk Snow Brand Co. Ltd.		4,275
	600	Morinaga Milk Industry Co. Ltd.		29,522
	4,700	Nippon Suisan Kaisha Ltd.		19,393
	1,279	Pilgrim’s Pride Corp. *		25,081
	255	Sanderson Farms, Inc.		33,711
				332,249
		FORESTRY, PAPER & WOOD PRODUCTS - 0.0% **
	900	Sumitomo Forestry Co. Ltd.		18,777
		GAS & WATER UTILITIES - 0.6%
	7	American States Water Co.		557
	179	American Water Works Co., Inc.		27,471
	437	California Water Service Group		23,611
	5,672	Cia de Saneamento Basico do Estado de Sao Paulo (ADR)		48,722
	188	Essential Utilities, Inc.		8,891
	1,154	Severn Trent PLC		36,108
	1,944	United Utilities Group PLC		23,783
	3,434	Veolia Environnement SA		84,075
				253,218
		HEALTH CARE FACILITIES & SERVICES - 0.6%
	48,754	Brookdale Senior Living, Inc. *		215,980
		MACHINERY - 1.3%
	976	AGCO Corp.		100,616
	4,046	CNH Industrial NV *		51,951
	745	Deere & Co.		200,442
	1,351	Evoqua Water Technologies Corp. *		36,450
	4,000	Kubota Corp.		87,210
	700	Kurita Water Industries Ltd.		26,747
				503,416
		METALS & MINING - 5.2%
	139	Agnico Eagle Mines Ltd.		9,801
	2,243	Anglo American PLC		74,337
	1,574	AngloGold Ashanti Ltd. (ADR)		35,604
	1,391	Antofagasta PLC		27,390
	3,044	BHP Group Ltd. (ADR)		198,895
	234	BHP Group PLC (ADR)		12,409
	2,352	Cameco Corp.		31,517
	3,247	Cia De Minas Buenaventura (ADR) *		39,581
	964	Cleveland-Cliffs, Inc.		14,036
	817	Compass Minerals International, Inc.		50,425
	137	First Majestic Silver Corp. *		1,841
	7,500	First Quantum Minerals Ltd.		134,517
	3,675	Freeport-McMoRan, Inc		95,623

Schedule of Investments | Defensive Strategies Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		METALS & MINING - 5.2% (Continued)
	21,528	Glencore PLC *	$	68,567
	5,729	IAMGOLD Corp. *		21,025
	1,412	KAZ Minerals PLC		12,739
	6,656	Kinross Gold Corp.		48,855
	1,002	Kirkland Lake Gold Ltd.		41,370
	4,347	Livent Corp. *		81,897
	13,400	Lundin Mining Corp.		118,854
	3,539	MMC Norilsk Nickel PJSC (ADR)		110,417
	1,109	Newmont Corp.		66,418
	525	Pan American Silver Corp.		18,118
	3,600	Pretium Resources, Inc. *		41,328
	2,900	Rio Tinto PLC (ADR)		218,138
	213	Royal Gold, Inc.		22,655
	1,212	Southern Copper Corp.		78,925
	835	SSR Mining, Inc. *		16,792
	2,400	Sumitomo Metal Mining Co. Ltd.		106,442
	2,943	Teck Resources Ltd.		53,362
	10,645	Vale SA (ADR)		178,410
	1,249	Vedanta Ltd. (ADR)		10,966
				2,041,254
		OIL & GAS PRODUCERS - 5.3%
	2,495	Apache Corp.		35,404
	4,200	ARC Resources Ltd		19,780
	3,554	Cabot Oil & Gas Corp.		57,859
	4,087	Canadian Natural Resources Ltd.		98,292
	7,566	Cenovus Energy, Inc.		46,026
	1,242	Cimarex Energy Co.		46,587
	4,818	CNX Resources Corp. *		52,034
	1,432	Concho Resources, Inc.		83,557
	4,556	ConocoPhillips		182,194
	2,893	Continental Resources, Inc.		47,156
	8,700	Crescent Point Energy Corp.		20,282
	918	Devon Energy Corp.		14,514
	1,466	Diamondback Energy, Inc.		70,954
	1,026	Ecopetrol SA (ADR)		13,246
	819	Eni SpA (ADR)		16,871
	3,202	EOG Resources, Inc.		159,684
	127	EQT Corp.		1,614
	2,337	Equinor ASA (ADR)		38,374
	463	Hess Corp.		24,442
	3,600	Husky Energy, Inc.		17,802
	20,700	Inpex Corp.		111,475
	2,222	Lukoil PJSC (ADR)		151,540
	12,534	Marathon Oil Corp.		83,602
	2,235	Murphy Oil Corp.		27,044
	306	Novatek OJSC (GDR)		50,000
	197	Occidental Petroleum Corp.		3,410
	4,458	Ovintiv, Inc.		64,017
	2,800	Parex Resources, Inc. *		38,505
	779	Parsley Energy, Inc.		11,062
	2,996	PDC Energy, Inc. *		61,508
	3,018	Petroleo Brasileiro SA (ADR)		33,892
	1,276	Pioneer Natural Resources Co.		145,324
	3,059	PrairieSky Royalty Ltd.		24,227
	8,242	Rosneft Oil Company (GDR)		46,485
	5,800	Suncor Energy, Inc.		97,198
	3,831	Surgutneftegas PJSC (ADR)		17,692
	1,500	Tourmaline Oil Corp.		20,204
	4,166	WPX Energy, Inc. *		33,953
	504	YPF SA (ADR) *		2,369
				2,070,179
		OIL & GAS SERVICES & EQUIPMENT - 1.2%
	3,554	Baker Hughes, Inc.		74,101
	3,819	ChampionX Corp. *		58,431
	463	Dril-Quip, Inc. *		13,714
	4,810	Halliburton Co.		90,909
	4,008	Helmerich & Payne, Inc.		92,825

Schedule of Investments | Defensive Strategies Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares			Fair Value
		OIL & GAS SERVICES & EQUIPMENT - 1.2% (Continued)
	409	National Oilwell Varco, Inc.	$	5,616
	5,615	Schlumberger Ltd.		122,575
	733	TechnipFMC PLC (France)		6,935
	1,311	TechnipFMC PLC		12,323
				477,429
		REAL ESTATE OWNERS & DEVELOPERS - 0.5%
	4,500	CTO Realty Growth, Inc.		189,720
		RENEWABLE ENERGY- 1.2%
	2,772	Ballard Power Systems, Inc. *		64,865
	1,074	Canadian Solar, Inc. *		55,032
	278	Enphase Energy, Inc. *		48,781
	438	First Solar, Inc. *		43,327
	1,300	GS Yuasa Corp.		37,321
	2,163	Plug Power, Inc. *		73,347
	778	Renewable Energy Group, Inc. *		55,098
	183	SolarEdge Technologies, Inc. *		58,399
	259	Varta AG *		37,458
				473,628
		STEEL - 0.9%
	365	Allegheny Technologies, Inc. *		6,121
	2,522	ArcelorMittal (ADR) *		57,754
	2,371	Commercial Metals Co.		48,700
	2,427	Gerdau SA (ADR)		11,334
	2,300	Hitachi Metals Ltd.		34,886
	3,100	Kobe Steel Ltd. *		16,544
	2,200	Nippon Steel & Sumitomo Metal Corp. *		28,298
	1,020	Steel Dynamics, Inc.		37,607
	3,529	Tenaris SA (ADR)		56,288
	841	Ternium SA (ADR) *		24,456
	2,893	United States Steel Corp.		48,516
				370,504
		TELECOMMUNICATIONS - 0.3%
	7,020	Switch, Inc.		114,917
		WHOLESALE - CONSUMER STAPLES - 0.3%
	1,639	Bunge Ltd.		107,486
		TOTAL COMMON STOCK (Cost $6,855,930)		8,350,288
		REITs - 19.5%
	14,000	Alexander & Baldwin, Inc.		240,520
	3,500	American Campus Communities, Inc.		149,695
	11,000	American Homes 4 Rent		330,000
	2,500	American Tower Corp.		561,150
	9,000	Americold Realty Trust		335,970
	1,600	AvalonBay Communities, Inc.		256,688
	2,300	Boston Properties, Inc.		217,419
	4,000	Camden Property Trust		399,680
	8,000	Cousins Properties, Inc.		268,000
	3,700	Crown Castle International Corp.		589,003
	1,500	Digital Realty Trust, Inc.		209,265
	750	Equinix, Inc.		535,635
	800	Essex Property Trust, Inc.		189,936
	7,000	Getty Realty Corp.		192,780
	11,000	Invitation Homes, Inc.		326,700
	2,000	Life Storage, Inc.		238,780
	12,500	Plymouth Industrial REIT, Inc.		187,500
	998	PotlatchDeltic Corp.		49,920
	6,000	Prologis, Inc.		597,960
	3,110	QTS Realty Trust, Inc.		192,447
	690	Rayonier, Inc.		20,272
	4,500	Rexford Industrial Realty, Inc.		220,995

Schedule of Investments | Defensive Strategies Fund

As of December 31, 2020 (Unaudited) (Continued)

Shares					Fair Value
		REITs - 19.5% (Continued)
	1,950	SBA Communications Corp.			$	550,153
	1,800	Sun Communities, Inc.				273,510
	5,500	Ventas, Inc.				269,720
	3,800	Welltower, Inc.				245,556
	1,726	Weyerhaeuser Co.				57,873
		TOTAL REITS (Cost $7,329,229)				7,707,127
Principal			Coupon Rate %	Maturity
		TREASURY INFLATION PROTECTED SECURITIES (TIPS) - 28.6%
$	565,000	TIPS	0.125	4/15/2021		622,900
	1,095,000	TIPS	0.125	4/15/2022		1,197,153
	975,000	TIPS	0.625	1/15/2024		1,168,079
	700,000	TIPS	2.375	1/15/2025		1,130,315
	645,000	TIPS	2.000	1/15/2026		1,006,559
	640,000	TIPS	2.375	1/15/2027		1,027,883
	685,000	TIPS	1.750	1/15/2028		1,044,955
	610,000	TIPS	2.500	1/15/2029		972,467
	1,205,000	TIPS	0.875	1/15/2029		1,461,368
	880,000	TIPS	2.125	2/15/2041		1,643,333
		TOTAL TREASURY INFLATION PROTECTED SECURITIES (TIPS) (Cost $10,312,189)				11,275,012
Ounces
		ALTERNATIVE INVESTMENTS - 29.6%
	6,143	Gold Bars * (Cost $7,240,875)				11,661,039
Shares		MONEY MARKET FUND - 1.0%
	411,731	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (A) (Cost $411,731)				411,731
		TOTAL INVESTMENTS - 99.9% (Cost $32,149,954)			$	39,405,197
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 0.1%				34,214
		NET ASSETS - 100.0%			$	39,439,411

* Non-income producing securities/investments.

** Less than 0.05%.

ADR - American Depositary Receipt.

GDR - Global Depositary Receipt.

LP - Limited Partnership.

PLC - Public Limited Co.

REITs - Real Estate Investment Trusts.

(A) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Strategic Growth Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		EXCHANGE TRADED FUNDS (A) - 59.3%
	156,633	Timothy Plan High Dividend Stock ETF	$	4,058,361
	332,461	Timothy Plan International ETF		8,978,209
	212,569	Timothy Plan US Large/Mid Cap Core ETF		6,559,879
	109,131	Timothy Plan US Small Cap Core ETF		3,024,817
		TOTAL EXCHANGE TRADED FUNDS (Cost $19,689,211)		22,621,266
		MUTUAL FUNDS - 38.9% (B)
	212,054	Timothy Plan Defensive Strategies Fund		2,693,081
	681,750	Timothy Plan Fixed Income Fund		7,321,998
	213,443	Timothy Plan High Yield Bond Fund		2,070,399
	233,174	Timothy Plan International Fund		2,784,097
		TOTAL MUTUAL FUNDS (Cost $13,470,359)		14,869,575
		MONEY MARKET FUND - 2.1%
	787,567	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (C) (Cost $787,567)		787,567
		TOTAL INVESTMENTS - 100.3% (Cost $33,947,137)	$	38,278,408
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.3)%		(111,856	)
		NET ASSETS - 100.0%	$	38,166,552

ETF - Exchange Traded Fund.

(A) Affiliated Funds.

(B) Affiliated Funds - Class A.

(C) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Conservative Growth Fund

As of December 31, 2020 (Unaudited)

Shares			Fair Value
		EXCHANGE TRADED FUNDS (A) - 42.4%
	147,162	Timothy Plan High Dividend Stock ETF	$	3,812,967
	266,144	Timothy Plan International ETF		7,187,299
	230,221	Timothy Plan US Large/Mid Cap Core ETF		7,104,620
	102,523	Timothy Plan US Small Cap Core ETF		2,841,661
		TOTAL EXCHANGE FUNDS (Cost $17,912,833)		20,946,547
		MUTUAL FUNDS - 54.6% (B)
	237,658	Timothy Plan Defensive Strategies Fund		3,018,260
	1,760,305	Timothy Plan Fixed Income Fund		18,905,678
	279,048	Timothy Plan High Yield Bond Fund		2,706,758
	195,959	Timothy Plan International Fund		2,339,744
		TOTAL MUTUAL FUNDS (Cost $25,137,452)		26,970,440
		MONEY MARKET FUND - 3.1%
	1,532,673	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (C) (Cost $1,532,673)		1,532,673
		TOTAL INVESTMENTS - 100.1% (Cost $44,582,958)	$	49,449,660
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - (0.1)%		(58,180	)
		NET ASSETS - 100.0%	$	49,391,480

ETF - Exchange Traded Fund.

(A) Affiliated Funds.

(B) Affiliated Funds - Class A.

(C) Variable rate security; the rate shown represents the yield at December 31, 2020.

Schedule of Investments | Growth & Income Fund

As of December 31, 2020 (Unaudited)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		BONDS & NOTES - 34.3%
		CORPORATE BONDS - 18.9%
$	160,000	ABB Finance USA, Inc.	2.875	5/8/2022	$	165,383
	160,000	American Electric Power Company, Inc.	3.200	11/13/2027		179,190
	160,000	Aptiv Corp.	4.150	3/15/2024		176,059
	160,000	Canadian Pacific RR Co.	2.900	2/1/2025		173,215
	160,000	CBOE Holdings, Inc.	3.650	1/12/2027		181,992
	160,000	CSX Corp.	3.250	6/1/2027		180,845
	80,000	Digital Realty Trust LP	3.700	8/15/2027		91,950
	80,000	Dollar General Corp.	4.125	5/1/2028		94,350
	120,000	Eaton Corp.	2.750	11/2/2022		125,214
	120,000	European Investment Bank	2.375	6/15/2022		123,793
	120,000	Healthpeak Properties, Inc.	3.500	7/15/2029		136,120
	120,000	Kreditanstalt fuer Wiederaufbau	2.125	6/15/2022		123,384
	130,000	LYB International Finance BV	4.000	7/15/2023		140,988
	120,000	National Rural Utilities Cooperative Finance Corp.	2.950	2/7/2024		128,349
	240,000	NiSource Finance Corp.	3.490	5/15/2027		272,143
	160,000	Nutrien Ltd.	4.000	12/15/2026		185,972
	160,000	Phillips 66 Partners LP	3.605	2/15/2025		172,920
	120,000	Province of Ontario Canada	2.500	4/27/2026		131,656
	120,000	Province of Quebec Canada	2.375	1/31/2022		122,698
	110,000	Sunoco Logistics Partners LP	4.250	4/1/2024		119,106
	190,000	Ventas Capital Corp.	3.250	8/15/2022		197,135
	115,000	WEC Energy Group, Inc.	3.550	6/15/2025		128,181
		TOTAL CORPORATE BONDS (Cost $3,093,670)				3,350,643
		U.S. GOVERNMENT & AGENCY OBLIGATIONS - 15.4%
		GOVERNMENT MORTGAGE-BACKED SECURITIES - 9.5%
	62,991	GNMA Pool G2 BN2662	3.000	10/20/2049		65,994
	104,076	GNMA Pool G2 MA3376	3.500	1/20/2046		112,050
	82,216	GNMA Pool G2 MA3596	3.000	4/20/2046		87,541
	69,635	GNMA Pool G2 MA3663	3.500	5/20/2046		75,390
	91,885	GNMA Pool G2 MA3736	3.500	6/20/2046		99,973
	30,099	GNMA Pool G2 MA4509	3.000	6/20/2047		31,983
	95,037	GNMA Pool G2 MA4652	3.500	8/20/2047		101,847
	92,808	GNMA Pool G2 MA4719	3.500	9/20/2047		100,176
	84,873	GNMA Pool G2 MA6092	4.500	8/20/2049		91,513
	69,336	GNMA Pool G2 MA6156	4.500	9/20/2049		75,117
	73,526	GNMA Pool G2 MA6221	4.500	10/20/2049		79,544
	95,266	GNMA Pool G2 MA6338	3.000	12/20/2049		99,658
	77,039	GNMA Pool G2 MA6476	4.000	2/20/2050		82,272
	68,043	GNMA Pool G2 MA6478	5.000	2/20/2050		74,422
	94,624	GNMA Pool G2 MA6544	4.500	3/20/2050		101,801
	60,574	GNMA Pool G2 MA6545	5.000	3/20/2050		66,096
	72,873	GNMA Pool G2 MA6600	3.500	4/20/2050		77,304
	72,055	GNMA Pool G2 MA6601	4.000	4/20/2050		76,830
	104,021	GNMA Pool G2 MA6603	5.000	4/20/2050		113,748
	59,427	GNMA Pool G2 MA6865	2.500	9/20/2050		62,958
	4,814	GNMA Pool GN 723248	5.000	10/15/2039		5,549
		TOTAL GOVERNMENT MORTGAGE-BACKED SECURITIES (Cost $1,638,850)				1,681,766

Schedule of Investments | Growth & Income Fund

As of December 31, 2020 (Unaudited) (Continued)

Par Value			Coupon Rate (%)	Maturity	Fair Value
		GOVERNMENT NOTES, BONDS & AGENCIES - 5.9%
$	15,000	United States Treasury Note	0.250	6/15/2023	$	15,039
	290,000	United States Treasury Note	2.000	8/15/2025		312,362
	230,000	United States Treasury Note	1.500	2/15/2030		243,324
	250,000	United States Treasury Note	4.500	2/15/2036		366,904
	85,000	United States Treasury Note	3.000	2/15/2049		112,120
		TOTAL GOVERNMENT NOTES, BONDS & AGENCIES (Cost $991,444)				1,049,749
		TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost $2,630,294)				2,731,515
		TOTAL BONDS & NOTES (Cost $5,723,964)				6,082,158
Shares
		EXCHANGE TRADED FUND (A) - 65.4%
	448,000	Timothy Plan High Dividend Stock ETF (Cost $11,015,311)				11,607,680
		MONEY MARKET FUND - 0.2%
	36,809	Fidelity Institutional Money Market Funds - Government Portfolio - Class I, 0.01% (B) (Cost $36,809)				36,809
		TOTAL INVESTMENTS - 99.9% (Cost $16,776,084)			$	17,726,647
		OTHER ASSETS IN EXCESS OF LIABILITIES - NET - 0.1%				15,473
		NET ASSETS - 100.0%			$	17,742,120

ETF - Exchange Traded Fund.

GNMA - Government National Mortgage Association.

LP - Limited Partnership.

(A) Affiliated Fund.

(B) Variable rate security; the rate shown represents the yield at December 31, 2020.

SCHEDULE OF INVESTMENTS I The Timothy Plan

December 31, 2020 (Unaudited)

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 entity’s 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.

A Fund may invest in portfolios of open-end or closed-end investment companies (the “Underlying Funds”). The Underlying Funds value securities in their portfolios for which market quotations are readily available at their market values (generally the last reported sale price) and all other securities and assets at their fair value based upon methods established by the board of directors of the Underlying Funds. Open-ended funds are valued at their respective net asset values as reported by such investment companies. The shares of many closed-end investment companies, after their initial public offering, frequently trade at a price per share, which is different than the net asset value per share. The difference represents a market premium or market discount of such shares. There can be no assurances that the market discount or market premium on shares of any closed-end investment company purchased by the Fund will not change.

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.

● Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

● Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The 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.

Each Fund generally determines the total value of each class of its shares by using market prices for the securities comprising its portfolio. Equity securities, including common stock, ADRs, REITs, MLPs, ETFs and warrants are generally valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Advisor or Sub-Advisor believes such prices more accurately reflect the fair value of such securities. Securities that are traded on any stock exchange are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an exchange traded security is generally valued by the pricing service at its last bid price. Securities traded in the NASDAQ over-the-counter market are generally valued by the pricing service at the NASDAQ Official Closing Price. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. When market quotations are not readily available, when the Advisor or Sub-Advisor determines that the market quotation or the price provided by the pricing service does not accurately reflect the current fair value, or when restricted or illiquid securities are being valued, such securities are valued as determined in good faith by the Advisor or Sub-Advisor, in conformity with guidelines adopted by and subject to review by the Board. These securities will generally be categorized as Level 3 securities.

Commodities (such as physical metal) are valued at the spot price at 4:00 p.m. E.S.T., as provided by an independent pricing source.

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.

SCHEDULE OF INVESTMENTS I The Timothy Plan

December 31, 2020 (Unaudited) (Continued)

Fixed income securities such as corporate bonds, restricted corporate bonds, asset-backed securities, mortgage-backed securities, U.S. government securities, U.S. government agency securities and treasury inflation protected securities, when valued using market quotations in an active market, will be categorized as Level 1 securities. However, they may be valued on the basis of prices furnished by a pricing service when the Advisor or Sub-Advisor believes such prices more accurately reflect the fair value of such securities. A pricing service utilizes electronic data processing techniques based on yield spreads relating to securities with similar characteristics to determine prices for normal institutional-size trading units of debt securities without regard to sale or bid prices. These securities will generally be categorized as Level 2 securities. If the Advisor or Sub-Advisor decides that a price provided by the pricing service does not accurately reflect the fair value of the securities, when prices are not readily available from a pricing service, or when restricted or illiquid securities are being valued, securities are valued at fair value as determined in good faith by the Advisor or Sub-Advisor, in conformity with guidelines adopted by and subject to review of the Board. These securities will be categorized as Level 3 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) may be 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.

The Board has delegated to the Advisor and/or Sub-Advisors responsibility for determining the value of Fund portfolio securities under certain circumstances. Under such circumstances, the Advisor or Sub-Advisor will use its best efforts to arrive at the fair value of a security held by the Fund under all reasonably ascertainable facts and circumstances. The Advisor must prepare a report for the Board not less than quarterly containing a complete listing of any securities for which fair value pricing was employed and detailing the specific reasons for such fair value pricing. The Board has adopted written policies and procedures to guide the Advisor and Sub-Advisors with respect to the circumstances under which, and the methods to be used, in fair valuing securities.

The following is a summary of the inputs used to value each Fund’s investments as of December 31, 2020:

Aggressive Growth Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	39,492,076	$	—	$	—	$	39,492,076
REITs		670,885		—		—		670,885
Money Market Fund		460,514		—		—		460,514
Total	$	40,623,475	$	—	$	—	$	40,623,475
International Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	98,614,304	$	—	$	—	$	98,614,304
Money Market Fund		1,339,805		—		—		1,339,805
Total	$	99,954,109	$	—	$	—	$	99,954,109
Large/Mid Cap Growth Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	91,610,650	$	—	$	—	$	91,610,650
Exchange Traded Fund		22,219,200		—		—		22,219,200
Money Market Fund		2,854,314		—		—		2,854,314
Total	$	116,684,164	$	—	$	—	$	116,684,164
Small Cap Value Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	112,935,587	$	—	$	—	$	112,935,587
Exchange Traded Fund		16,076,034		—		—		16,076,034
REITs		12,236,692		—		—		12,236,692
Money Market Fund		1,936,521		—		—		1,936,521
Total	$	143,184,834	$	—	$	—	$	143,184,834

SCHEDULE OF INVESTMENTS I The Timothy Plan

December 31, 2020 (Unaudited) (Continued)

Large/Mid Cap Value Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	142,153,517	$	—	$	—	$	142,153,517
Exchange Traded Funds		52,228,400		—		—		52,228,400
REITs		8,423,375		—		—		8,423,375
Money Market Fund		6,267,799		—		—		6,267,799
Total	$	209,073,091	$	—	$	—	$	209,073,091
Fixed Income Fund
Assets	Level 1		Level 2		Level 3		Total
Corporate Bonds	$	—	$	27,781,232	$	—	$	27,781,232
Government Mortage-Backed Securities		—		21,905,065		—		21,905,065
Government Notes & Bonds		—		65,696,808		—		65,696,808
Money Market Fund		2,374,603		—		—		2,374,603
Total	$	2,374,603	$	115,383,105	$	—	$	117,757,708
High Yield Bond Fund
Assets		Level 1		Level 2		Level 3		Total
Corporate Bonds	$	—	$	79,422,363	$	—	$	79,422,363
Convertible Bonds		—		2,781,023		—		2,781,023
Preferred Stock		546,875		—		—		546,875
Money Market Fund		4,527,152		—		—		4,527,152
Total	$	5,074,027	$	82,203,386	$	—	$	87,277,413
Israel Common Values Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	86,498,346	$	—	$	—	$	86,498,346
REITs		1,297,904		—		—		1,297,904
Money Market Fund		1,416,623		—		—		1,416,623
Total	$	89,212,873	$	—	$	—	$	89,212,873
Defensive Strategies Fund
Assets	Level 1		Level 2		Level 3		Total
Common Stock	$	8,350,288	$	—	$	—	$	8,350,288
REITs		7,707,127		—		—		7,707,127
Treasury Inflation Protected Securities (TIPS)		—		11,275,012		—		11,275,012
Alternative Investments *		11,661,039		—		—		11,661,039
Money Market Fund		411,731		—		—		411,731
Total	$	28,130,185	$	11,275,012	$	—	$	39,405,197
*    Reflects the fund’s investment in gold.
Strategic Growth Fund
Assets	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	22,621,266	$	—	$	—	$	22,621,266
Mutual Funds		14,869,575		—		—		14,869,575
Money Market Fund		787,567		—		—		787,567
Total	$	38,278,408	$	—	$	—	$	38,278,408

SCHEDULE OF INVESTMENTS I The Timothy Plan

December 31, 2020 (Unaudited) (Continued)

Conservative Growth Fund
Assets	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	20,946,547	$	—	$	—	$	20,946,547
Mutual Funds		26,970,440		—		—		26,970,440
Money Market Fund		1,532,673		—		—		1,532,673
Total	$	49,449,660	$	—	$	—	$	49,449,660
Growth & Income Fund
Assets	Level 1		Level 2		Level 3		Total
Corporate Bonds	$	—	$	3,350,643	$	—	$	3,350,643
Government Mortage-Backed Securities		—		1,681,766		—		1,681,766
Government Notes & Bonds		—		1,049,749		—		1,049,749
Exchange Traded Fund		11,607,680		—		—		11,607,680
Money Market Fund		36,809		—		—		36,809
Total	$	11,644,489	$	6,082,158	$	—	$	17,726,647

The Funds did not hold any Level 3 securities during the period presented.

The identified cost of investments in securities (including written options and short sales) owned by each Fund for federal income tax purposes, and their respective gross unrealized appreciation and depreciation at December 31, 2020, were as follows:

								Net Unrealized
			Gross Unrealized		Gross Unrealized			Appreciation/
Fund	Tax Cost		Appreciation		Depreciation			(Depreciation)
Aggressive Growth	$	27,174,182	$	13,522,698	$	(73,405	)	$	13,449,293
International		68,144,719		32,012,457		(203,067	)		31,809,390
Large/Mid Cap Growth		79,240,352		38,536,317		(1,092,505	)		37,443,812
Small Cap Value		128,506,771		21,370,735		(6,692,672	)		14,678,063
Large/Mid Cap Value		163,046,046		48,135,218		(2,108,173	)		46,027,045
Fixed Income		112,203,337		5,672,774		(118,403	)		5,554,371
High Yield Bond		83,560,597		4,744,746		(1,027,930	)		3,716,816
Israel Common Values		53,665,263		37,918,945		(2,371,335	)		35,547,610
Defensive Strategies		32,825,526		8,015,125		(1,435,454	)		6,579,671
Strategic Growth		33,997,695		4,329,484		(48,771	)		4,280,713
Conservative Growth		44,687,469		4,864,546		(102,355	)		4,762,191
Growth & Income		16,788,721		952,950		(15,024	)		937,926