TWLO 3 5/8 03/15/29

0001752724-22-045944.txt : 20220225 0001752724-22-045944.hdr.sgml : 20220225 20220225101744 ACCESSION NUMBER: 0001752724-22-045944 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220225 PERIOD START: 20220930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIMOTHY PLAN CENTRAL INDEX KEY: 0000916490 IRS NUMBER: 597016828 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08228 FILM NUMBER: 22675366 BUSINESS ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32759 BUSINESS PHONE: 4076441986 MAIL ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32759

0000916490 S000017791 Timothy Plan High Yield Bond Fund

C000049122 Timothy Plan High Yield Bond Fund Class A TPHAX

C000065171 TIMOTHY PLAN HIGH YIELD Bond FUND CLASS C TPHCX

C000127001 Timothy Plan High Yield Bond Fund Class I TPHIX

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Bausch Health Companies Inc B3BS7ACMDUWISF18KY76 BHCCN 5 01/30/28 071734AH0 250000.00000000 PA USD 230393.75000000 0.147774021041 Long DBT CORP CA Y 2 2028-01-30 Fixed 5.00000000 N N N N N N Emergent Biosolutions Inc 549300YW6TUOX8BE5103 EBS 3 7/8 08/15/28 29089QAC9 2500000.00000000 PA USD 2403212.50000000 1.541414966952 Long DBT CORP US Y 2 2028-08-15 Fixed 3.87500000 N N N N N N Clarios Global Lp 549300474L1ZLXZY2P98 POWSOL 6 1/4 05/15/26 69867DAA6 522000.00000000 PA USD 546802.83000000 0.350718076796 Long DBT CORP CA Y 2 2026-05-15 Fixed 6.25000000 N N N N N N Lithia Motors Incorporated SE8N1EZEHPZQBCBVKD53 LAD 3 7/8 06/01/29 536797AG8 250000.00000000 PA USD 255631.25000000 0.163961295462 Long DBT CORP US Y 2 2029-06-01 Fixed 3.87500000 N N N N N N Ahp Health Partners Inc 549300QMM8MQ6SM5KX05 ARDENT 5 3/4 07/15/29 00150LAB7 1391000.00000000 PA USD 1380845.70000000 0.885671254219 Long DBT CORP US Y 2 2029-07-15 Fixed 5.75000000 N N N N N N Howard Midstream Energy Partners Llc N/A HOWMID 6 3/4 01/15/27 442722AA2 125000.00000000 PA USD 128241.25000000 0.082253642626 Long DBT CORP US Y 2 2027-01-15 Fixed 6.75000000 N N N N N N BWX Technologies Inc 549300NP85N265KWMS58 BWXT 4 1/8 06/30/28 05605HAB6 500000.00000000 PA USD 508217.50000000 0.325969534931 Long DBT CORP US Y 2 2028-06-30 Fixed 4.12500000 N N N N N N Interface, Inc. 549300VXZWQOIDFPU355 TILE 5 1/2 12/01/28 458665AS5 2542000.00000000 PA USD 2666494.45000000 1.710283403787 Long DBT CORP US Y 2 2028-12-01 Fixed 5.50000000 N N N N N N Bausch Health Companies Inc B3BS7ACMDUWISF18KY76 BHCCN 5 1/4 01/30/30 071734AJ6 1000000.00000000 PA USD 881550.00000000 0.565424141276 Long DBT CORP CA Y 2 2030-01-30 Fixed 5.25000000 N N N N N N CEMEX S.A.B. de C.V. 549300RIG2CXWN6IV731 CEMEX 3 7/8 07/11/31 151290BZ5 250000.00000000 PA USD 249478.75000000 0.160015096120 Long DBT CORP MX Y 2 2031-07-11 Fixed 3.87500000 N N N N N N Crowdstrike Holdings Inc 549300YBY08K9KM4HX32 CRWD 3 02/15/29 22788CAA3 1000000.00000000 PA USD 989055.00000000 0.634377600873 Long DBT CORP US N 2 2029-02-15 Fixed 3.00000000 N N N N N N CommScope Inc. 549300Z6K4JXMFE8QY54 COMM 7 1/8 07/01/28 203372AV9 750000.00000000 PA USD 737936.25000000 0.473310612526 Long DBT CORP US Y 2 2028-07-01 Fixed 7.12500000 N N N N N N Wabash National Corporation 5299004ZAWHQZI5XO485 WNC 4 1/2 10/15/28 929566AL1 125000.00000000 PA USD 126406.25000000 0.081076677849 Long DBT CORP US Y 2 2028-10-15 Fixed 4.50000000 N N N N N N PBF Holding Company LLC and PBF Finance Corp. 549300TILVIIV9FLL461 PBFENE 9 1/4 05/15/25 69318FAK4 1000000.00000000 PA USD 952355.00000000 0.610838305331 Long DBT CORP US Y 2 2025-05-15 Fixed 9.25000000 N N N N N N Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. 549300VJQPPSEJPBNA66 CMLP 5 5/8 05/01/27 226373AQ1 1500000.00000000 PA USD 1529625.00000000 0.981097954851 Long DBT CORP US Y 2 2027-05-01 Fixed 5.62500000 N N N N N N CommScope Holdings Co Inc 254900AW4CEPCQWSRI58 COMM 8 1/4 03/01/27 20338QAA1 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0.164424705299 Long DBT CORP US Y 2 2029-06-15 Fixed 4.12500000 N N N N N N Vistra Operations Co LLC 549300ZH5GKBTJZ7NM23 VST 5 5/8 02/15/27 92840VAB8 750000.00000000 PA USD 773448.75000000 0.496088248301 Long DBT CORP US Y 2 2027-02-15 Fixed 5.62500000 N N N N N N Gray Escrow II Inc N/A GTN 5 3/8 11/15/31 389286AA3 500000.00000000 PA USD 515272.50000000 0.330494595695 Long DBT CORP US Y 2 2031-11-15 Fixed 5.37500000 N N N N N N DCP Midstream, LLC VQOHU6HCVU6YY1KUKU03 DCP 5.85 05/21/43 23311RAH9 500000.00000000 PA USD 487085.00000000 0.312415198064 Long DBT CORP US Y 2 2043-05-21 Fixed 5.85000000 N N N N N N BWX Technologies Inc 549300NP85N265KWMS58 BWXT 4 1/8 04/15/29 05605HAC4 500000.00000000 PA USD 506967.50000000 0.325167787808 Long DBT CORP US Y 2 2029-04-15 Fixed 4.12500000 N N N N N N Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp. N/A LADR 4 1/4 02/01/27 505742AM8 750000.00000000 PA USD 755752.50000000 0.484737914275 Long DBT CORP US Y 2 2027-02-01 Fixed 4.25000000 N N N N N N Clarios Global Lp 549300474L1ZLXZY2P98 POWSOL 8 1/2 05/15/27 69867DAC2 1000000.00000000 PA USD 1061285.00000000 0.680705756649 Long DBT CORP CA Y 2 2027-05-15 Fixed 8.50000000 N N N N N N Jazz Securities Designated Activity Company 6354009DV8VV7K6KOO02 JAZZ 4 3/8 01/15/29 47216FAA5 250000.00000000 PA USD 259292.50000000 0.166309612786 Long DBT CORP IE Y 2 2029-01-15 Fixed 4.37500000 N N N N N N MSCI Inc. 549300HTIN2PD78UB763 MSCI 3 1/4 08/15/33 55354GAQ3 250000.00000000 PA USD 253201.25000000 0.162402699054 Long DBT CORP US Y 2 2033-08-15 Fixed 3.25000000 N N N N N N Cqp Holdco Lp & Bip-V Chinook Holdco L L C 549300LPL012JY5D4B69 BLKCQP 5 1/2 06/15/31 12657NAA8 1572000.00000000 PA USD 1643243.04000000 1.053972304237 Long DBT CORP US Y 2 2031-06-15 Fixed 5.50000000 N N N N N N LPL Holdings Inc. 549300Z5YF8CCRMYUL26 LPLA 4 3/8 05/15/31 50212YAF1 500000.00000000 PA USD 511987.50000000 0.328387604255 Long DBT CORP US Y 2 2031-05-15 Fixed 4.37500000 N N N N N N ILFC E-Capital Trust II N/A AER 6 1/4 12/21/65 44965UAA2 1500000.00000000 PA USD 1286250.00000000 0.824997789934 Long DBT CORP US Y 2 2065-12-21 Floating 3.66999800 N N N N N N Waste Pro USA Inc 549300BY1QXU5BI3UF28 WASPRO 5 1/2 02/15/26 94107JAA1 2200000.00000000 PA USD 2191288.00000000 1.405487080357 Long DBT CORP US Y 2 2026-02-15 Fixed 5.50000000 N N N N N N TMS International Corp 549300L4K0F1YF8WKF23 TMS 6 1/4 04/15/29 87261QAC7 1759000.00000000 PA USD 1752676.40000000 1.124162609500 Long DBT CORP US Y 2 2029-04-15 Fixed 6.25000000 N N N N N N Ashton Woods (USA) LLC/Ashton Woods Finance Co. N/A ASHWOO 6 5/8 01/15/28 045086AK1 500000.00000000 PA USD 529260.00000000 0.339466146006 Long DBT CORP US Y 2 2028-01-15 Fixed 6.62500000 N N N N N N Diamond (BC) B.V. 549300SWLHWJF3D4N658 DIVRSY 4 5/8 10/01/29 25257DAA6 1500000.00000000 PA USD 1490227.50000000 0.955828489017 Long DBT CORP NL Y 2 2029-10-01 Fixed 4.62500000 N N N N N N PHH Mortgage Corporation PAOOWF3GUFM46FBSP561 OCN 7 7/8 03/15/26 69356NAA2 125000.00000000 PA USD 129368.75000000 0.082976818531 Long DBT CORP US Y 2 2026-03-15 Fixed 7.87500000 N N N N N N PBF Holding Company LLC and PBF Finance Corp. 549300TILVIIV9FLL461 PBFENE 7 1/4 06/15/25 69318FAG3 775000.00000000 PA USD 550047.75000000 0.352799361017 Long DBT CORP US N 2 2025-06-15 Fixed 7.25000000 N N N N N N Pactiv Evergreen Group Issuer Incorporated / Pactiv Evergreen Group Issuer Llc N/A REYNOL 4 3/8 10/15/28 69527AAA4 1250000.00000000 PA USD 1242518.75000000 0.796948666823 Long DBT CORP US Y 2 2028-10-15 Fixed 4.37500000 N N N N N N Vista Ootdoor Inc 549300QI2D33ESTJLN81 VSTO 4 1/2 03/15/29 928377AC4 500000.00000000 PA USD 503882.50000000 0.323189075907 Long DBT CORP US Y 2 2029-03-15 Fixed 4.50000000 N N N N N N Targa Resources Partners LP/Targa Resources Finance Corporation 6OQWTZ1SPC04IFT4T704 NGLS 5 1/2 03/01/30 87612BBQ4 1250000.00000000 PA USD 1367725.00000000 0.877255667434 Long DBT CORP US N 2 2030-03-01 Fixed 5.50000000 N N N N N N Polar Us Borrower Llc / Schenectady International Group Incorporated 549300VWTN2NKZWJ5F70 SIGRP 6 3/4 05/15/26 73103PAA5 2000000.00000000 PA USD 1967080.00000000 1.261680585130 Long DBT CORP US Y 2 2026-05-15 Fixed 6.75000000 N N N N N N Olin Corporation 549300GKK294V7W57P06 OLN 5 5/8 08/01/29 680665AL0 1000000.00000000 PA USD 1084790.00000000 0.695781809557 Long DBT CORP US N 2 2029-08-01 Fixed 5.62500000 N N N N N N Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. N/A CMLP 5 3/4 04/01/25 226373AP3 250000.00000000 PA USD 255875.00000000 0.164117636151 Long DBT CORP US N 2 2025-04-01 Fixed 5.75000000 N N N N N N Kaiser Aluminium Corporation N/A KALU 4 1/2 06/01/31 483007AL4 750000.00000000 PA USD 738948.75000000 0.473960027696 Long DBT CORP US Y 2 2031-06-01 Fixed 4.50000000 N N N N N N Ot Merger Corporation N/A BLT 7 7/8 10/15/29 688777AA9 375000.00000000 PA USD 369433.13000000 0.236953559400 Long DBT CORP US Y 2 2029-10-15 Fixed 7.87500000 N N N N N N Diversified Healthcare Trust N/A DHC 9 3/4 06/15/25 25525PAA5 1000000.00000000 PA USD 1083215.00000000 0.694771608181 Long DBT CORP US N 2 2025-06-15 Fixed 9.75000000 N N N N N N Howard Hughes Corp 549300BVHY25JZC1KI49 HHC 4 3/8 02/01/31 44267DAF4 3749000.00000000 PA USD 3792038.52000000 2.432204780055 Long DBT CORP US Y 2 2031-02-01 Fixed 4.37500000 N N N N N N 2022-01-28 TIMOTHY PLAN Arthur D. Ally Arthur D. Ally President & Treasurer XXXX NPORT-EX 2 d295464d8k.htm TIMOTHY NPORT EX HTML

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.9%

		AEROSPACE & DEFENSE - 0.7%

	639	TransDigm Group, Inc.^(a)	$	406,583


		APPAREL & TEXTILE PRODUCTS - 7.0%

	26,304	Capri Holdings Ltd.^(a)		1,707,393

	2,579	Deckers Outdoor Corporation^(a)		944,713

	29,749	Tapestry, Inc.		1,207,809

				3,859,915


		ASSET MANAGEMENT - 3.4%

	26,087	Apollo Global Management, Inc.		1,889,481


		BANKING - 3.0%

	5,236	Signature Bank		1,693,689


		BIOTECH & PHARMA - 9.7%

	20,294	Horizon Therapeutics plc^(a)		2,186,881

	22,500	Maravai LifeSciences Holdings, Inc.^(a)		942,750

	10,549	United Therapeutics Corporation^(a)		2,279,428

				5,409,059


		CHEMICALS - 1.5%

	3,481	Albemarle Corporation		813,753


		CONSTRUCTION MATERIALS - 1.5%

	1,947	Martin Marietta Materials, Inc.		857,693


		ELECTRICAL EQUIPMENT - 5.7%

	11,434	Fortive Corporation		872,300

	4,506	Generac Holdings, Inc.^(a)		1,585,752

	3,671	Trane Technologies plc		741,652

				3,199,704


		ENGINEERING & CONSTRUCTION - 1.3%

	6,411	Quanta Services, Inc.		735,085


		FOOD - 1.3%

	10,181	Darling Ingredients, Inc.^(a)		705,441

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.9% (Continued)

		HEALTH CARE FACILITIES & SERVICES - 3.7%

	6,460	Catalent, Inc.^(a)	$	827,074

	4,047	ICON plc^(a)		1,253,356

				2,080,430


		INDUSTRIAL SUPPORT SERVICES - 3.3%

	5,503	United Rentals, Inc.^(a)		1,828,592


		LEISURE FACILITIES & SERVICES - 1.5%

	40,303	Bloomin’ Brands, Inc.^(a)		845,557


		MACHINERY - 5.1%

	6,510	Lincoln Electric Holdings, Inc.		907,950

	9,435	Oshkosh Corporation		1,063,418

	2,663	Parker-Hannifin Corporation		847,154

				2,818,522


		MEDICAL EQUIPMENT & DEVICES - 11.0%

	46,042	Avantor, Inc.^(a)		1,940,210

	1,061	DexCom, Inc.^(a)		569,704

	5,065	Insulet Corporation^(a)		1,347,645

	14,484	Natera, Inc.^(a)		1,352,661

	1,774	STERIS plc		431,809

	1,375	Teleflex, Inc.		451,660

				6,093,689


		RETAIL - CONSUMER STAPLES - 2.7%

	10,634	Dollar Tree, Inc.^(a)		1,494,290


		SEMICONDUCTORS - 11.9%

	1,932	KLA Corporation		830,973

	28,579	Marvell Technology, Inc.		2,500,377

	4,239	Monolithic Power Systems, Inc.		2,091,226

	3,217	Skyworks Solutions, Inc.		499,085

	4,539	Teradyne, Inc.		742,263

				6,663,924

TIMOTHY PLAN AGGRESSIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.9% (Continued)

		SOFTWARE - 11.3%

	2,902	Fortinet, Inc.^(a)	$	1,042,979

	498	HubSpot, Inc.^(a)		328,257

	2,900	Palo Alto Networks, Inc.^(a)		1,614,604

	17,373	Rapid7, Inc.^(a)		2,044,628

	3,787	RingCentral, Inc., Class A^(a)		709,494

	11,082	Varonis Systems, Inc.^(a)		540,580

				6,280,542


		TECHNOLOGY HARDWARE - 5.3%

	4,649	Arista Networks, Inc.^(a)		668,294

	20,440	Seagate Technology Holdings plc		2,309,311

				2,977,605


		TECHNOLOGY SERVICES - 4.3%

	1,292	EPAM Systems, Inc.^(a)		863,637

	1,678	MSCI, Inc.		1,028,094

	4,020	TransUnion		476,692

				2,368,423


		TRANSPORTATION & LOGISTICS - 1.7%

	11,922	XPO Logistics, Inc.^(a)		923,120


		TOTAL COMMON STOCKS (Cost $38,417,555)		53,945,097


		SHORT-TERM INVESTMENTS — 3.2%

		MONEY MARKET FUNDS - 3.2%

	1,799,967	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,799,967)^(b)		1,799,967


		TOTAL INVESTMENTS - 100.1% (Cost $40,217,522)	$	55,745,064

		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(61,194	)


		NET ASSETS - 100.0%	$	55,683,870


LTD		- Limited Company
MSCI		- Morgan Stanley Capital International
PLC		- Public Limited Company

^(a)	Non-income producing security.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.1%

		Belgium - 3.9%

	49,200	Ageas S.A./N.V. - ADR	$	2,551,020

	67,600	KBC Group N.V. - ADR		2,913,560

				5,464,580


		Brazil - 0.8%

	293,000	Itau Unibanco Holding S.A. - ADR		1,098,750


		Canada - 8.4%

	59,300	Canadian Pacific Railway Ltd.		4,266,042

	57,300	Magna International, Inc.		4,637,862

	34,640	Open Text Corporation		1,644,707

	850	Shopify, Inc., Class A^(a)		1,170,782

				11,719,393


		Cayman Islands - 2.5%

	2,400	ANTA Sports Products Ltd. - ADR		897,036

	43,700	Pagseguro Digital Ltd., Class A^(a)		1,145,814

	27,500	Xinyi Glass Holdings Ltd. - ADR		1,348,600

	6,072	XP, Inc., Class A^(a)		174,509

				3,565,959


		Finland - 2.0%

	113,600	Sampo OYJ - ADR		2,849,088


		France - 9.3%

	40,200	Air Liquide S.A. - ADR		1,401,774

	14,900	Arkema S.A. - ADR		2,112,075

	73,000	Safran S.A. - ADR		2,233,070

	80,400	Schneider Electric S.E. - ADR		3,152,484

	155,000	Vinci S.A. - ADR		4,078,050

				12,977,453


		Germany - 4.7%

	76,000	BASF S.E. - ADR		1,332,280

	38,000	Beiersdorf A.G. - ADR		782,420

	156,500	Deutsche Boerse A.G. - ADR		2,599,465

	62,400	Muenchener Rueckversicherungs-Gesellschaft A.G. in Muenchen - ADR		1,853,280

				6,567,445

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.1% (Continued)

		Hong Kong - 6.1%

	62,500	AIA Group Ltd. - ADR	$	2,520,281

	60,850	Techtronic Industries Company Ltd. - ADR		6,048,490

				8,568,771


		India - 4.8%

	35,200	HDFC Bank Ltd. - ADR		2,290,464

	112,100	ICICI Bank Ltd. - ADR		2,218,459

	89,000	Infosys Ltd. - ADR		2,252,590

				6,761,513


		Ireland - 4.7%

	11,500	ICON plc^(a)		3,561,550

	23,700	Kerry Group plc - ADR		3,115,365

				6,676,915


		Israel - 3.0%

	13,800	Nice Ltd. - ADR^(a)		4,189,680


		Italy - 1.7%

	297,000	Enel SpA - ADR		2,364,120


		Japan - 11.3%

	70,000	FANUC Corporation - ADR		1,490,300

	21,438	FUJIFILM Holdings Corporation - ADR		1,591,557

	27,500	Hoya Corporation - ADR		4,113,175

	95,300	Nippon Telegraph & Telephone Corporation - ADR		2,612,173

	26,700	ORIX Corporation - ADR		2,717,526

	56,000	Seven & i Holdings Company Ltd. - ADR		1,229,760

	71,000	Shimano, Inc. - ADR		1,898,540

				15,653,031


		Netherlands - 9.1%

	21,800	Adyen N.V. - ADR^(a)		573,776

	5,950	ASML Holding N.V. - ADR		4,737,033

	13,000	NXP Semiconductors N.V.		2,961,140

	108,000	Prosus N.V. - ADR		1,793,880

	43,600	Yandex N.V., Class A^(a)		2,637,800

				12,703,629

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.1% (Continued)

		Norway - 5.2%

	99,000	DNB Bank ASA - ADR	$	2,272,050

	151,000	Equinor ASA - ADR		3,975,830

	45,000	Mowi ASA - ADR		1,067,580

				7,315,460


		Portugal - 1.5%

	438,000	Galp Energia SGPS S.A. - ADR		2,115,540


		Singapore - 2.9%

	41,539	DBS Group Holdings Ltd. - ADR		4,044,237


		Spain - 2.5%

	51,000	Amadeus IT Group S.A. - ADR^(a)		3,453,720


		Sweden - 2.5%

	58,500	Atlas Copco A.B. - ADR		3,486,600


		Switzerland - 2.6%

	41,200	Alcon, Inc.		3,589,344


		Taiwan Province Of China - 2.2%

	25,900	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		3,116,029


		United Kingdom - 4.4%

	8,100	Ashtead Group plc - ADR		2,663,118

	23,800	Rio Tinto plc - ADR		1,593,172

	53,900	Smith & Nephew plc - ADR		1,866,018

				6,122,308


		TOTAL COMMON STOCKS (Cost $95,724,708)		134,403,565

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		SHORT-TERM INVESTMENTS — 3.9%

		MONEY MARKET FUNDS - 3.9%

	5,527,472	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,527,472)^(b)	$	5,527,472


		TOTAL INVESTMENTS - 100.0% (Cost $101,252,180)	$	139,931,037

		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.0%		48,352


		NET ASSETS - 100.0%	$	139,979,389


ADR		- American Depositary Receipt

LTD		- Limited Company

NV		- Naamioze Vennootschap

OYJ		- Julkinen osakeyhtiö

PLC		- Public Limited Company

S.A.		- Société Anonyme

^(a)	Non-income producing security.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

DECEMBER 31, 2021



Diversification of Assets

Country	% of Net Assets

Japan		11.3%

France		9.3%

Netherlands		9.1%

Canada		8.4%

Hong Kong		6.1%

Norway		5.2%

India		4.8%

Ireland		4.7%

Germany		4.7%

United Kingdom		4.4%

Belgium		3.9%

Israel		3.0%

Singapore		2.9%

Switzerland		2.6%

Cayman Islands		2.5%

Sweden		2.5%

Spain		2.5%

Taiwan Province Of China		2.2%

Finland		2.0%

Italy		1.7%

Portugal		1.5%

Brazil		0.8%


Total		96.1%

Money Market Funds		3.9%

Other Assets Less Liabilities - Net		0.0%


Grand Total		100.0%

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 78.3%

		AEROSPACE & DEFENSE - 1.0%

	2,416	TransDigm Group, Inc.^(a)	$	1,537,252


		BANKING - 0.8%

	10,774	Western Alliance Bancorp		1,159,821


		BIOTECH & PHARMA - 5.7%

	18,734	Horizon Therapeutics plc^(a)		2,018,776

	6,572	Neurocrine Biosciences, Inc.^(a)		559,737

	7,104	Vertex Pharmaceuticals, Inc.^(a)		1,560,038

	18,691	Zoetis, Inc.		4,561,165

				8,699,716


		CABLE & SATELLITE - 1.5%

	1,263	Cable One, Inc.		2,227,237


		CHEMICALS - 2.3%

	16,730	FMC Corporation		1,838,459

	4,997	Linde plc		1,731,111

				3,569,570


		CONSTRUCTION MATERIALS - 0.8%

	12,695	Owens Corning		1,148,898


		DIVERSIFIED INDUSTRIALS - 1.8%

	16,353	Emerson Electric Company		1,520,338

	6,258	Honeywell International, Inc.		1,304,856

				2,825,194


		ELECTRIC UTILITIES - 1.3%

	21,347	NextEra Energy, Inc.		1,992,956


		ELECTRICAL EQUIPMENT - 3.4%

	26,732	Amphenol Corporation, Class A		2,337,981

	13,796	Fortive Corporation		1,052,497

	8,164	Trane Technologies plc		1,649,373

				5,039,851

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 78.3% (Continued)

		HEALTH CARE FACILITIES & SERVICES - 1.4%

	7,400	IQVIA Holdings, Inc.^(a)	$	2,087,836


		INSTITUTIONAL FINANCIAL SERVICES - 1.3%

	14,572	Intercontinental Exchange, Inc.		1,993,012


		INSURANCE - 2.9%

	15,754	Arthur J Gallagher & Company		2,672,982

	56,896	Equitable Holdings, Inc.		1,865,620

				4,538,602


		LEISURE FACILITIES & SERVICES - 1.3%

	1,160	Chipotle Mexican Grill, Inc.^(a)		2,027,970


		MACHINERY - 1.8%

	5,527	Caterpillar, Inc.		1,142,652

	14,366	Oshkosh Corporation		1,619,192

				2,761,844


		MEDICAL EQUIPMENT & DEVICES - 5.7%

	10,988	Baxter International, Inc.		943,210

	5,002	Danaher Corporation		1,645,708

	16,458	Edwards Lifesciences Corporation^(a)		2,132,134

	5,934	Insulet Corporation^(a)		1,578,859

	7,092	Intuitive Surgical, Inc.^(a)		2,548,156

				8,848,067


		OIL & GAS PRODUCERS - 0.8%

	17,181	ConocoPhillips		1,240,125


		RETAIL - CONSUMER STAPLES - 3.9%

	6,208	Costco Wholesale Corporation		3,524,281

	10,119	Dollar General Corporation		2,386,364

				5,910,645


		RETAIL - DISCRETIONARY - 8.1%

	7,926	Burlington Stores, Inc.^(a)		2,310,508

	17,574	Dick’s Sporting Goods, Inc.		2,020,834

	41,527	Foot Locker, Inc.		1,811,823

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 78.3% (Continued)

		RETAIL - DISCRETIONARY - 8.1% (Continued)

	9,092	Lowe’s Companies, Inc.	$	2,350,100

	3,742	Lululemon Athletica, Inc.^(a)		1,464,806

	3,364	O’Reilly Automotive, Inc.^(a)		2,375,758

				12,333,829


		SEMICONDUCTORS - 13.2%

	33,315	Advanced Micro Devices, Inc.^(a)		4,794,028

	7,318	Analog Devices, Inc.		1,286,285

	5,155	Broadcom, Inc.		3,430,188

	1,672	Lam Research Corporation		1,202,419

	5,067	Monolithic Power Systems, Inc.		2,499,703

	15,980	NVIDIA Corporation		4,699,877

	10,302	NXP Semiconductors N.V.		2,346,590

				20,259,090


		SOFTWARE - 9.1%

	2,794	HubSpot, Inc.^(a)		1,841,665

	5,008	Palo Alto Networks, Inc.^(a)		2,788,254

	25,788	Rapid7, Inc.^(a)		3,034,990

	4,306	ServiceNow, Inc.^(a)		2,795,068

	9,354	Synopsys, Inc.^(a)		3,446,949

				13,906,926


		TECHNOLOGY HARDWARE - 2.7%

	17,643	Seagate Technology Holdings plc		1,993,306

	33,942	Western Digital Corporation^(a)		2,213,358

				4,206,664


		TECHNOLOGY SERVICES - 5.8%

	20,164	CDW Corporation/DE		4,129,184

	5,066	EPAM Systems, Inc.^(a)		3,386,368

	12,608	Fidelity National Information Services, Inc.		1,376,163

				8,891,715


		TRANSPORTATION & LOGISTICS - 1.0%

	21,625	Canadian Pacific Railway Ltd.		1,555,703

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 78.3% (Continued)

		TRANSPORTATION EQUIPMENT - 0.7%

	12,086	PACCAR, Inc.	$	1,066,710


		TOTAL COMMON STOCKS (Cost $67,113,253)		119,829,233


		EXCHANGE-TRADED FUNDS — 18.2%

		EQUITY - 18.2%

	647,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)		17,613,086

	265,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		10,263,159

		TOTAL EXCHANGE-TRADED FUNDS (Cost $23,553,050)		27,876,245


		SHORT-TERM INVESTMENTS — 3.6%

		MONEY MARKET FUNDS - 3.6%

	5,481,451	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,481,451)^(c)		5,481,451


		TOTAL INVESTMENTS - 100.1% (Cost $96,147,754)	$	153,186,929

		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(108,371	)


		NET ASSETS - 100.0%	$	153,078,558


ETF		- Exchange-Traded Fund
LTD		- Limited Company
NV		- Naamioze Vennootschap
PLC		- Public Limited Company

^(a)	Non-income producing security.

^(b)	Affiliated Company.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 87.7%

		AEROSPACE & DEFENSE - 1.7%

	38,745	Moog, Inc., Class A	$	3,137,183


		BANKING - 13.1%

	92,008	Columbia Banking System, Inc.		3,010,502

	44,834	Hilltop Holdings, Inc.		1,575,467

	73,500	Provident Financial Services, Inc.		1,780,170

	83,635	Renasant Corporation		3,173,948

	64,396	Sandy Spring Bancorp, Inc.		3,096,160

	108,476	Simmons First National Corporation, Class A		3,208,719

	27,010	Triumph Bancorp, Inc.^(a)		3,216,350

	49,754	Trustmark Corporation		1,615,015

	78,810	Veritex Holdings, Inc.		3,135,062

				23,811,393


		CHEMICALS - 5.5%

	56,719	Avient Corporation		3,173,428

	159,960	Ecovyst, Inc.		1,637,990

	17,731	Innospec, Inc.		1,601,819

	27,024	Stepan Company		3,358,813

				9,772,050


		ELECTRIC UTILITIES - 3.4%

	73,193	Avista Corporation		3,109,971

	52,382	NorthWestern Corporation		2,994,155

				6,104,126


		ENGINEERING & CONSTRUCTION - 1.7%

	31,347	Comfort Systems USA, Inc.		3,101,472


		FOOD - 3.5%

	154,521	Hostess Brands, Inc.^(a)		3,155,319

	20,455	J & J Snack Foods Corporation		3,231,072

				6,386,391


		FORESTRY, PAPER & WOOD PRODUCTS - 0.9%

	17,693	UFP Industries, Inc.		1,627,933

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 87.7% (Continued)

		GAS & WATER UTILITIES - 1.0%

	66,524	South Jersey Industries, Inc.	$	1,737,607


		HEALTH CARE FACILITIES & SERVICES - 1.6%

	179,793	Aveanna Healthcare Holdings, Inc.^(a)		1,330,468

	51,347	Patterson Companies, Inc.		1,507,035

				2,837,503


		HOME CONSTRUCTION - 4.5%

	40,190	Century Communities, Inc.		3,287,140

	59,796	Griffon Corporation		1,702,990

	27,198	Masonite International Corporation^(a)		3,208,004

				8,198,134


		HOUSEHOLD PRODUCTS - 1.8%

	66,154	Central Garden & Pet Company, Class A^(a)		3,165,469


		INDUSTRIAL INTERMEDIATE PROD - 0.9%

	28,208	AZZ, Inc.		1,559,620


		INSTITUTIONAL FINANCIAL SERVICES - 4.3%

	48,738	Moelis & Company, Class A		3,046,613

	129,733	Perella Weinberg Partners		1,668,366

	17,024	Piper Sandler Cos		3,038,954

				7,753,933


		INSURANCE - 1.8%

	55,251	Argo Group International Holdings Ltd.		3,210,636


		LEISURE FACILITIES & SERVICES - 4.4%

	81,304	Bloomin’ Brands, Inc.^(a)		1,705,758

	48,678	Chuy’s Holdings, Inc.^(a)		1,466,181

	36,580	Jack in the Box, Inc.		3,200,018

	12,182	Papa John’s International, Inc.		1,625,932

				7,997,889


		MACHINERY - 6.0%

	11,227	Alamo Group, Inc.		1,652,390

	61,715	Altra Industrial Motion Corporation		3,182,642

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 87.7% (Continued)

		MACHINERY - 6.0% (Continued)

	20,710	Astec Industries, Inc.	$	1,434,582

	34,776	Columbus McKinnon Corporation		1,608,738

	68,593	Federal Signal Corporation		2,972,820

				10,851,172


		MEDICAL EQUIPMENT & DEVICES - 4.3%

	54,478	Avanos Medical, Inc.^(a)		1,888,752

	21,431	CONMED Corporation		3,038,059

	45,637	Merit Medical Systems, Inc.^(a)		2,843,185

				7,769,996


		METALS & MINING - 1.8%

	12,189	Encore Wire Corporation		1,744,246

	62,629	Livent Corporation^(a)		1,526,895

				3,271,141


		OIL & GAS PRODUCERS - 4.6%

	76,736	Brigham Minerals, Inc.		1,618,362

	66,059	PDC Energy, Inc.		3,222,358

	53,135	Whiting Petroleum Corporation^(a)		3,436,772

				8,277,492


		REAL ESTATE INVESTMENT TRUSTS - 6.8%

	62,475	Community Healthcare Trust, Inc.		2,953,193

	111,547	Plymouth Industrial REIT, Inc.		3,569,504

	25,568	PotlatchDeltic Corporation		1,539,705

	171,467	Summit Hotel Properties, Inc.^(a)		1,673,518

	128,167	Urban Edge Properties		2,435,173

				12,171,093


		REAL ESTATE OWNERS & DEVELOPERS - 1.7%

	188,333	Radius Global Infrastructure, Inc., Class A^(a)		3,032,161


		RETAIL - DISCRETIONARY - 4.5%

	39,680	Academy Sports & Outdoors, Inc.^(a)		1,741,952

	53,145	Monro, Inc.		3,096,759

	64,149	Sonic Automotive, Inc., Class A		3,172,168

				8,010,879

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 87.7% (Continued)

		SEMICONDUCTORS - 3.5%

	120,374	Amkor Technology, Inc.	$	2,984,071

	108,709	Rambus, Inc.^(a)		3,194,958

				6,179,029


		TECHNOLOGY HARDWARE - 2.8%

	80,957	ADTRAN, Inc.		1,848,248

	184,828	Viavi Solutions, Inc.^(a)		3,256,670

				5,104,918


		TECHNOLOGY SERVICES - 1.6%

	157,726	Repay Holdings Corporation^(a)		2,881,654


		TOTAL COMMON STOCKS (Cost $132,553,015)		157,950,874


		EXCHANGE-TRADED FUNDS — 11.5%

		EQUITY - 11.5%

	580,000	Timothy Plan US Small Cap Core ETF^(b)		20,611,692


		TOTAL EXCHANGE-TRADED FUNDS (Cost $14,834,080)

		SHORT-TERM INVESTMENTS — 1.4%

		MONEY MARKET FUNDS - 1.4%

	2,486,790	Fidelity Government Portfolio, Class I, 0.01% (Cost $2,486,790)^(c)		2,486,790


		TOTAL INVESTMENTS - 100.6% (Cost $149,873,885)	$	181,049,356

		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6)%		(1,094,889	)


		NET ASSETS - 100.0%	$	179,954,467


ETF		- Exchange-Traded Fund

LTD		- Limited Company

REIT		- Real Estate Investment Trust

^(a)	Non-income producing security.

^(b)	Affiliated Company.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 74.5%

		AEROSPACE & DEFENSE - 2.0%

	27,306	General Dynamics Corporation	$	5,692,482


		BANKING - 3.5%

	50,836	BOK Financial Corporation		5,362,689

	46,118	Western Alliance Bancorp		4,964,603

				10,327,292


		CABLE & SATELLITE - 1.4%

	2,382	Cable One, Inc.		4,200,538


		CHEMICALS - 4.1%

	162,736	Huntsman Corporation		5,676,232

	17,598	Sherwin-Williams Company (The)		6,197,311

				11,873,543


		DIVERSIFIED INDUSTRIALS - 3.7%

	31,289	Eaton Corp PLC		5,407,364

	24,572	Honeywell International, Inc.		5,123,508

				10,530,872


		ELECTRIC UTILITIES - 4.0%

	90,068	CMS Energy Corporation		5,858,923

	60,696	WEC Energy Group, Inc.		5,891,761

				11,750,684


		ELECTRICAL EQUIPMENT - 1.8%

	210,398	Vertiv Holdings Company		5,253,638


		FOOD - 4.0%

	38,411	J M Smucker Company (The)		5,216,982

	65,484	McCormick & Company, Inc.		6,326,409

				11,543,391


		INSTITUTIONAL FINANCIAL SERVICES - 1.9%

	40,067	Intercontinental Exchange, Inc.		5,479,964

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 74.5% (Continued)

		INSURANCE - 1.8%

	30,074	Arthur J Gallagher & Company	$	5,102,656


		MACHINERY - 1.9%

	28,566	Middleby Corporation (The)^(a)		5,620,646


		MEDICAL EQUIPMENT & DEVICES - 5.0%

	29,493	PerkinElmer, Inc.		5,929,862

	21,538	STERIS plc		5,242,565

	26,921	Zimmer Biomet Holdings, Inc.		3,420,044

				14,592,471


		OIL & GAS PRODUCERS - 4.6%

	69,689	ConocoPhillips		5,030,152

	45,199	EOG Resources, Inc.		4,015,027

	55,915	Valero Energy Corporation		4,199,776

				13,244,955


		REAL ESTATE INVESTMENT TRUSTS - 3.8%

	22,539	Crown Castle International Corporation		4,704,791

	38,323	Prologis, Inc.		6,452,060

				11,156,851


		RETAIL - CONSUMER STAPLES - 1.9%

	23,805	Dollar General Corporation		5,613,933


		RETAIL - DISCRETIONARY - 5.9%

	8,006	O’Reilly Automotive, Inc.^(a)		5,654,077

	47,457	Ross Stores, Inc.		5,423,386

	25,417	Tractor Supply Company		6,064,497

				17,141,960


		SEMICONDUCTORS - 11.1%

	6,528	ASML Holding N.V. - ADR		5,197,202

	10,180	Broadcom, Inc.		6,773,874

	32,642	Lattice Semiconductor Corporation^(a)		2,515,393

	65,599	Microchip Technology, Inc.		5,711,049

	13,819	Monolithic Power Systems, Inc.		6,817,327

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 74.5% (Continued)

		SEMICONDUCTORS - 11.1% (Continued)

	18,224	NVIDIA Corporation	$	5,359,861

				32,374,706


		SOFTWARE - 6.7%

	35,281	Cadence Design Systems, Inc.^(a)		6,574,614

	18,563	Synopsys, Inc.^(a)		6,840,466

	11,035	Tyler Technologies, Inc.^(a)		5,936,278

				19,351,358


		TECHNOLOGY SERVICES - 1.8%

	19,382	CACI International, Inc., Class A^(a)		5,217,828


		TRANSPORTATION & LOGISTICS - 1.9%

	22,487	Union Pacific Corporation		5,665,150


		TRANSPORTATION EQUIPMENT - 1.7%

	54,561	Westinghouse Air Brake Technologies Corporation		5,025,614


		TOTAL COMMON STOCKS (Cost $147,168,959)		216,760,532


		EXCHANGE-TRADED FUNDS — 22.5%

		EQUITY - 22.5%

	573,000	Timothy Plan High Dividend Stock Enhanced ETF^(b)		15,442,293

	442,500	Timothy Plan High Dividend Stock ETF^(b)		14,381,648

	687,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)		18,701,994

	435,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		16,847,072

		TOTAL EXCHANGE-TRADED FUNDS (Cost $54,728,199)		65,373,007

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		SHORT-TERM INVESTMENTS — 3.1%

		MONEY MARKET FUNDS - 3.1%

	9,064,906	Fidelity Government Portfolio, Class I, 0.01% (Cost $9,064,906)^(c)	$	9,064,906


		TOTAL INVESTMENTS - 100.1% (Cost $210,962,064)	$	291,198,445

		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(282,105	)


		NET ASSETS - 100.0%	$	290,916,340


ETF		- Exchange-Traded Fund

NV		- Naamioze Vennootschap

PLC		- Public Limited Company

^(a)	Non-income producing security.

^(b)	Affiliated Company.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 23.2%

		CHEMICALS — 2.3%

	1,212,000	LYB International Finance BV		4.0000		07/15/23	$	1,266,881

	1,570,000	Nutrien Ltd.		4.0000		12/15/26		1,719,779


								2,986,660


		ELECTRIC UTILITIES — 3.7%

	2,205,000	American Electric Power Company, Inc.		3.2000		11/13/27		2,332,520

	852,508	John Sevier Combined Cycle Generation, LLC		4.6260		01/15/42		1,040,575

	855,000	National Rural Utilities Cooperative Finance		2.9500		02/07/24		886,342

	442,000	WEC Energy Group, Inc.		3.5500		06/15/25		468,709


								4,728,146


		ELECTRICAL EQUIPMENT — 0.8%

	1,000,000	ABB Finance USA, Inc.		2.8750		05/08/22		1,008,134


		GAS & WATER UTILITIES — 1.8%

	2,185,000	NiSource, Inc.		3.4900		05/15/27		2,348,691


		INSTITUTIONAL FINANCIAL SERVICES — 0.9%

	1,000,000	Cboe Global Markets, Inc.		3.6500		01/12/27		1,088,698


		MACHINERY — 0.6%

	750,000	Eaton Corporation		2.7500		11/02/22		764,162


		OIL & GAS PRODUCERS — 5.9%

	1,580,000	Columbia Pipeline Group, Inc.		4.5000		06/01/25		1,706,129

	1,000,000	Enable Midstream Partners, L.P.		3.9000		05/15/24		1,044,998

	2,240,000	Phillips 66 Partners, L.P.		3.6050		02/15/25		2,361,048

	2,235,000	Sunoco Logistics Partners Operations, L.P.		4.2500		04/01/24		2,347,944


								7,460,119


		REAL ESTATE INVESTMENT TRUSTS — 3.2%

	1,520,000	Digital Realty Trust, L.P.		3.7000		08/15/27		1,649,550

	2,200,000	Healthpeak Properties, Inc.		3.5000		07/15/29		2,390,089


								4,039,639


		RETAIL - CONSUMER STAPLES — 1.4%

	1,575,000	Dollar General Corporation		4.1250		05/01/28		1,753,309

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 23.2% (Continued)

		TRANSPORTATION & LOGISTICS — 2.6%

	1,000,000	Canadian Pacific Railway Company		2.9000		02/01/25	$	1,041,283

	2,190,000	CSX Corporation		3.2500		06/01/27		2,351,652


								3,392,935


		TOTAL CORPORATE BONDS (Cost $28,658,255)						29,570,493


		NON U.S. GOVERNMENT & AGENCIES — 3.9%

		GOVERNMENT GUARANTEED — 0.7%

	865,000	Kreditanstalt fuer Wiederaufbau		2.1250		06/15/22		871,927


		LOCAL AUTHORITY — 2.5%

	2,235,000	Province of Ontario Canada		2.5000		04/27/26		2,341,317

	865,000	Province of Quebec Canada		2.3750		01/31/22		866,315


								3,207,632


		SUPRANATIONAL — 0.7%

	855,000	European Investment Bank		2.3750		06/15/22		863,062


		TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $4,915,861)						4,942,621


		U.S. GOVERNMENT & AGENCIES — 70.5%

		AGENCY FIXED RATE — 27.3%

	1,575,564	Fannie Mae Pool FM5537		2.0000		01/01/36		1,615,682

	1,239,930	Fannie Mae Pool MA4316		2.5000		04/01/36		1,290,555

	1,321,805	Fannie Mae Pool MA4329		2.0000		05/01/36		1,355,965

	1,671,882	Fannie Mae Pool MA4333		2.0000		05/01/41		1,700,159

	819,117	Fannie Mae Pool MA4366		2.5000		06/01/41		846,128

	480,171	Fannie Mae Pool MA4475		2.5000		10/01/41		496,149

	1,198,422	Fannie Mae Pool FM4053		2.5000		08/01/50		1,228,426

	1,556,339	Fannie Mae Pool CA8897		3.0000		02/01/51		1,639,325

	1,154,032	Fannie Mae Pool MA4258		3.5000		02/01/51		1,221,680

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		U.S. GOVERNMENT & AGENCIES — 70.5% (Continued)

		AGENCY FIXED RATE — 27.3% (Continued)

	510,100	Fannie Mae Pool FM6550		2.0000		03/01/51	$	511,329

	1,050,386	Fannie Mae Pool CB0855		3.0000		06/01/51		1,101,343

	909,839	Fannie Mae Pool CB0867		3.5000		06/01/51		966,442

	23,720	Ginnie Mae I Pool 723248		5.0000		10/15/39		27,510

	294,092	Ginnie Mae I Pool 783060		4.0000		08/15/40		317,982

	111,156	Ginnie Mae I Pool 783403		3.5000		09/15/41		118,826

	138,972	Ginnie Mae II Pool 4520		5.0000		08/20/39		157,128

	180,417	Ginnie Mae II Pool 4947		5.0000		02/20/41		203,994

	340,189	Ginnie Mae II Pool MA3376		3.5000		01/20/46		360,141

	217,273	Ginnie Mae II Pool MA3596		3.0000		04/20/46		226,804

	591,706	Ginnie Mae II Pool MA3663		3.5000		05/20/46		623,248

	214,745	Ginnie Mae II Pool MA3736		3.5000		06/20/46		226,297

	364,802	Ginnie Mae II Pool MA4004		3.5000		10/20/46		384,698

	241,421	Ginnie Mae II Pool MA4509		3.0000		06/20/47		252,431

	299,048	Ginnie Mae II Pool MA4652		3.5000		08/20/47		314,202

	374,056	Ginnie Mae II Pool MA4719		3.5000		09/20/47		394,200

	381,735	Ginnie Mae II Pool MA4778		3.5000		10/20/47		402,966

	309,629	Ginnie Mae II Pool MA4901		4.0000		12/20/47		330,209

	270,398	Ginnie Mae II Pool MA4963		4.0000		01/20/48		288,371

	275,500	Ginnie Mae II Pool MA6092		4.5000		08/20/49		291,239

	310,184	Ginnie Mae II Pool MA6156		4.5000		09/20/49		327,738

	763,486	Ginnie Mae II Pool BN2662		3.0000		10/20/49		791,926

	283,002	Ginnie Mae II Pool MA6221		4.5000		10/20/49		299,456

	286,268	Ginnie Mae II Pool MA6477		4.5000		02/20/50		303,274

	434,291	Ginnie Mae II Pool MA6478		5.0000		02/20/50		467,855

	456,148	Ginnie Mae II Pool MA6544		4.5000		03/20/50		481,434

	322,048	Ginnie Mae II Pool MA6545		5.0000		03/20/50		346,114

	421,138	Ginnie Mae II Pool MA6600		3.5000		04/20/50		439,509

	361,635	Ginnie Mae II Pool MA6601		4.0000		04/20/50		382,447

	348,047	Ginnie Mae II Pool MA6603		5.0000		04/20/50		374,059

	1,281,633	Ginnie Mae II Pool MA7255		2.5000		03/20/51		1,315,254

	682,822	Ginnie Mae II Pool MA7370		4.0000		05/20/51		719,692

	910,265	Ginnie Mae II Pool MA7418		2.5000		06/20/51		934,145

	1,667,017	Ginnie Mae II Pool MA7419		3.0000		06/20/51		1,727,948

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		U.S. GOVERNMENT & AGENCIES — 70.5% (Continued)

		AGENCY FIXED RATE — 27.3% (Continued)

	1,338,641	Ginnie Mae II Pool MA7472		2.5000		07/20/51	$	1,373,757

	1,465,069	Ginnie Mae II Pool CE1974		3.0000		08/20/51		1,533,916

	1,228,662	Ginnie Mae II Pool CE1990		2.5000		09/20/51		1,262,033

	1,500,436	Ginnie Mae II Pool MA7705		2.5000		11/20/51		1,539,797

	1,215,000	Ginnie Mae II Pool MA7768		3.0000		12/20/51		1,263,311


								34,777,094


		U.S. TREASURY BILLS — 20.2%

	6,875,000	United States Treasury Note		0.6250		07/31/26		6,689,429

	7,350,000	United States Treasury Note		1.2500		09/30/28		7,271,332

	8,925,000	United States Treasury Note		1.7500		08/15/41		8,683,745

	3,100,000	United States Treasury Note		2.0000		08/15/51		3,175,563


								25,820,069


		U.S. TREASURY NOTES — 23.0%

	7,520,000	United States Treasury Note		2.2500		11/15/24		7,799,063

	8,680,000	United States Treasury Note		2.0000		08/15/25		8,956,675

	12,920,000	United States Treasury Note		1.2500		08/15/31		12,650,497


								29,406,235


		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $90,185,101)						90,003,398


Shares

		SHORT-TERM INVESTMENTS — 2.3%

		MONEY MARKET FUNDS - 2.3%

	2,922,158	Fidelity Government Portfolio, Class I, 0.01% (Cost $2,922,158)^(a)						2,922,158


		TOTAL INVESTMENTS - 99.9% (Cost $126,681,375)					$	127,438,670

		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%						153,533


		NET ASSETS - 100.0%					$	127,592,203


LLC		- Limited Liability Company
LP		- Limited Partnership
LTD		- Limited Company
REIT		- Real Estate Investment Trust

^(a)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares							Fair Value

		PREFERRED STOCKS — 0.3%

		INDUSTRIAL SUPPORT SERVICES - 0.3%

	17,500	WESCO International, Inc. - Series A					$	536,375


		TOTAL PREFERRED STOCKS (Cost $463,059)

Principal Amount ($)			Coupon Rate (%)		Maturity

		CONVERTIBLE BONDS — 2.0%

		SPECIALTY FINANCE — 2.0%

	2,275,000	MGIC Investment Corporation^(b)		9.0000		04/01/63		3,059,875


		TOTAL CONVERTIBLE BONDS (Cost $3,027,406)

		CORPORATE BONDS — 90.4%

		AEROSPACE & DEFENSE — 0.3%

	500,000	Spirit AeroSystems, Inc.^(b)		5.5000		01/15/25		518,628


		ASSET MANAGEMENT — 1.5%

	250,000	Icahn Enterprises, L.P. / Icahn Enterprises		4.7500		09/15/24		259,704

	1,000,000	Icahn Enterprises, L.P. / Icahn Enterprises		6.2500		05/15/26		1,042,805

	1,000,000	Icahn Enterprises, L.P. / Icahn Enterprises		4.3750		02/01/29		976,515


								2,279,024


		AUTOMOTIVE — 2.1%

	500,000	Adient Global Holdings Ltd.^(b)		4.8750		08/15/26		510,645

	522,000	Clarios Global, L.P. / Clarios US Finance Company^(b)		6.2500		05/15/26		546,803

	1,000,000	Clarios Global, L.P. / Clarios US Finance Company^(b)		8.5000		05/15/27		1,061,285

	1,000,000	Goodyear Tire & Rubber Company (The)		5.6250		04/30/33		1,092,710


								3,211,443


		BIOTECH & PHARMA — 3.0%

	250,000	Bausch Health Companies, Inc.^(b)		5.0000		01/30/28		230,394

	750,000	Bausch Health Companies, Inc.^(b)		4.8750		06/01/28		768,233

	125,000	Bausch Health Companies, Inc.^(b)		5.0000		02/15/29		110,508

	1,000,000	Bausch Health Companies, Inc.^(b)		5.2500		01/30/30		881,549

	50,000	Bausch Health Companies, Inc.^(b)		5.2500		02/15/31		44,015

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		BIOTECH & PHARMA — 3.0% (Continued)

	2,500,000	Emergent BioSolutions, Inc.^(b)			3.8750		08/15/28	$	2,403,212

	250,000	Jazz Securities DAC^(b)			4.3750		01/15/29		259,293


									4,697,204


		CHEMICALS — 6.2%

	3,000,000	Chemours Company (The)^(b)			4.6250		11/15/29		2,981,294

	1,500,000	Diamond BC BV^(b)			4.6250		10/01/29		1,490,228

	1,500,000	Koppers, Inc.^(b)			6.0000		02/15/25		1,527,795

	1,000,000	Olin Corporation			5.6250		08/01/29		1,084,790

	2,000,000	Polar US Borrower, LLC / Schenectady International^(b)			6.7500		05/15/26		1,967,080

	500,000	WR Grace Holdings, LLC^(b)			5.6250		08/15/29		513,125


									9,564,312


		COMMERCIAL SUPPORT SERVICES — 6.2%

	1,125,000	Allied Universal Holdco, LLC / Allied Universal^(b)			4.6250		06/01/28		1,126,266

	125,000	Atlas LuxCompany 4 S.A.RL / Allied Universal^(b)			4.6250		06/01/28		122,875

	2,000,000	Covanta Holding Corporation			5.0000		09/01/30		2,044,350

	1,000,000	Covert Mergeco, Inc.^(b)			4.8750		12/01/29		1,016,520

	2,550,000	GFL Environmental Inc^(b)			4.0000		08/01/28		2,503,321

	50,000	GFL Environmental, Inc.^(b)			4.7500		06/15/29		50,514

	250,000	GFL Environmental, Inc.^(b)			4.3750		08/15/29		248,035

	500,000	Sotheby’s/Bidfair Holdings, Inc.^(b)			5.8750		06/01/29		510,710

	2,200,000	Waste Pro USA, Inc.^(b)			5.5000		02/15/26		2,191,288


									9,813,879


		CONSTRUCTION MATERIALS — 0.8%

	250,000	Cemex S.A.B. de C.V.^(b)			3.8750		07/11/31		249,479

	1,000,000	Standard Industries, Inc.^(b)			5.0000		02/15/27		1,030,635


									1,280,114


		CONSUMER SERVICES — 2.3%

	2,000,000	PROG Holdings, Inc.^(b)			6.0000		11/15/29		2,060,760

	1,500,000	Rent-A-Center, Inc.^(b)			6.3750		02/15/29		1,565,880


									3,626,640


		CONTAINERS & PACKAGING — 5.0%

	1,750,000	Canpack S.A. / Canpack US, LLC^(b)			3.8750		11/15/29		1,711,088

	1,000,000	Graham Packaging Company, Inc.^(b)			7.1250		08/15/28		1,036,500

	500,000	Graphic Packaging International, LLC^(b)			3.7500		02/01/30		506,068

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		CONTAINERS & PACKAGING — 5.0% (Continued)

	1,250,000	LABL, Inc.^(b)				5.8750		11/01/28	$	1,290,625

	750,000	LABL, Inc.^(b)				8.2500		11/01/29		755,569

	1,250,000	Pactiv Evergreen Group Issuer, LLC / Pactiv^(b)				4.3750		10/15/28		1,242,519

	1,250,000	TriMas Corporation^(b)				4.1250		04/15/29		1,254,975


										7,797,344


		ELECTRIC UTILITIES — 1.6%

	250,000	NRG Energy Inc^(b)				3.3750		02/15/29		245,334

	250,000	NRG Energy Inc^(b)				3.6250		02/15/31		244,178

	1,000,000	Vistra Corporation^(a),(b)		H15T5Y + 5.740%		7.0000		06/15/70		1,014,594

	750,000	Vistra Operations Company, LLC^(b)				5.6250		02/15/27		773,449

	250,000	Vistra Operations Company, LLC^(b)				4.3750		05/01/29		250,911


										2,528,466


		ELECTRICAL EQUIPMENT — 0.7%

	500,000	BWX Technologies, Inc.^(b)				4.1250		06/30/28		508,217

	500,000	BWX Technologies, Inc.^(b)				4.1250		04/15/29		506,968


										1,015,185


		ENGINEERING & CONSTRUCTION — 1.1%

	1,694,000	Dycom Industries, Inc.^(b)				4.5000		04/15/29		1,728,591


		FORESTRY, PAPER & WOOD PRODUCTS — 1.1%

	1,750,000	Mercer International, Inc.				5.1250		02/01/29		1,790,355


		GAS & WATER UTILITIES — 0.7%

	1,000,000	Suburban Propane Partners, L.P./Suburban Energy				5.8750		03/01/27		1,035,905


		HEALTH CARE FACILITIES & SERVICES — 3.8%

	1,391,000	Ardent Health Services, Inc.^(b)				5.7500		07/15/29		1,380,845

	500,000	Catalent Pharma Solutions, Inc.^(b)				3.1250		02/15/29		493,918

	750,000	Legacy LifePoint Health, LLC^(b)				4.3750		02/15/27		756,428

	250,000	LifePoint Health, Inc.^(b)				5.3750		01/15/29		249,110

	100,000	Option Care Health, Inc.^(b)				4.3750		10/31/29		100,403

	1,000,000	Tenet Healthcare Corporation^(b)				6.2500		02/01/27		1,036,355

	500,000	Tenet Healthcare Corporation^(b)				4.3750		01/15/30		507,233

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		HEALTH CARE FACILITIES & SERVICES — 3.8% (Continued)

	1,185,000	Vizient, Inc.^(b)			6.2500		05/15/27	$	1,238,028


									5,762,320


		HOME & OFFICE PRODUCTS — 0.6%

	500,000	Scotts Miracle-Gro Company (The)^(b)			4.0000		04/01/31		494,488

	500,000	Scotts Miracle-Gro Company (The)^(b)			4.3750		02/01/32		499,507


									993,995


		HOME CONSTRUCTION — 5.2%

	500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)			6.6250		01/15/28		529,260

	1,500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)			4.6250		08/01/29		1,483,523

	1,250,000	Ashton Woods USA, LLC / Ashton Woods Finance^(b)			4.6250		04/01/30		1,230,019

	2,542,000	Interface Inc.^(b)			5.5000		12/01/28		2,666,493

	1,500,000	STL Holding Company, LLC^(b)			7.5000		02/15/26		1,586,250

	500,000	Weekley Homes, LLC / Weekley Finance Corporation^(b)			4.8750		09/15/28		515,755


									8,011,300


		INDUSTRIAL INTERMEDIATE PROD — 0.1%

	125,000	Roller Bearing Company of America, Inc.^(b)			4.3750		10/15/29		127,656


		INDUSTRIAL SUPPORT SERVICES — 0.2%

	250,000	BCPE Empire Holdings, Inc.^(b)			7.6250		05/01/27		255,518


		INSTITUTIONAL FINANCIAL SERVICES — 1.4%

	1,750,000	LPL Holdings, Inc.^(b)			4.0000		03/15/29		1,794,476

	500,000	LPL Holdings, Inc.^(b)			4.3750		05/15/31		511,988


									2,306,464


		LEISURE FACILITIES & SERVICES — 0.3%

	500,000	Papa John’s International, Inc.^(b)			3.8750		09/15/29		498,238


		LEISURE PRODUCTS — 0.3%

	500,000	Vista Outdoor, Inc.^(b)			4.5000		03/15/29		503,883


		MACHINERY — 0.4%

	250,000	Madison IAQ, LLC^(b)			4.1250		06/30/28		250,994

	375,000	OT Merger Corporation^(b)			7.8750		10/15/29		369,433


									620,427

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		MEDICAL EQUIPMENT & DEVICES — 0.6%

	500,000	Mozart Debt Merger Sub, Inc.^(b)				3.8750		04/01/29	$	499,235

	500,000	Mozart Debt Merger Sub, Inc.^(b)				5.2500		10/01/29		507,860


										1,007,095


		METALS & MINING — 1.2%

	1,000,000	Compass Minerals International, Inc.^(b)				6.7500		12/01/27		1,060,245

	750,000	Kaiser Aluminum Corporation^(b)				4.5000		06/01/31		738,949


										1,799,194


		OIL & GAS PRODUCERS — 10.0%

	1,500,000	Colgate Energy Partners III, LLC^(b)				5.8750		07/01/29		1,547,130

	1,572,000	CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC^(b)				5.5000		06/15/31		1,643,243

	250,000	Crestwood Midstream Partners, L.P. / Crestwood				5.7500		04/01/25		255,875

	1,500,000	Crestwood Midstream Partners, L.P. / Crestwood^(b)				5.6250		05/01/27		1,529,625

	500,000	DCP Midstream Operating, L.P.^(a),(b)		ICE LIBOR USD 3 Month + 3.850%		5.8500		05/21/43		487,085

	250,000	DT Midstream, Inc.^(b)				4.1250		06/15/29		256,354

	750,000	DT Midstream, Inc.^(b)				4.3750		06/15/31		781,155

	500,000	Genesis Energy, L.P. / Genesis Energy Finance				7.7500		02/01/28		504,458

	1,000,000	Global Partners, L.P. / GLP Finance Corporation				7.0000		08/01/27		1,038,500

	125,000	Howard Midstream Energy Partners, LLC^(b)				6.7500		01/15/27		128,241

	1,000,000	ITT Holdings, LLC^(b)				6.5000		08/01/29		991,640

	2,000,000	Midwest Connector Capital Company, LLC^(b)				4.6250		04/01/29		2,158,991

	1,000,000	NuStar Logistics, L.P. B				5.6250		04/28/27		1,058,500

	1,000,000	PBF Holding Company, LLC / PBF Finance Corporation^(b)				9.2500		05/15/25		952,355

	775,000	PBF Holding Company, LLC / PBF Finance Corporation				7.2500		06/15/25		550,048

	500,000	PBF Holding Company, LLC / PBF Finance Corporation				6.0000		02/15/28		321,978

	1,250,000	Targa Resources Partners, L.P. / Targa Resources				5.5000		03/01/30		1,367,725


										15,572,903


		PUBLISHING & BROADCASTING — 1.8%

	500,000	Gray Escrow II, Inc.^(b)				5.3750		11/15/31		515,273

	500,000	Gray Television, Inc.^(b)				7.0000		05/15/27		534,920

	1,750,000	Gray Television, Inc.^(b)				4.7500		10/15/30		1,742,046


										2,792,239


		REAL ESTATE INVESTMENT TRUSTS — 4.2%

	1,000,000	Diversified Healthcare Trust				9.7500		06/15/25		1,083,215

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread		Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		REAL ESTATE INVESTMENT TRUSTS — 4.2% (Continued)

	2,125,000	GEO Group, Inc. (The)				5.1250		04/01/23	$	2,026,347

	1,500,000	iStar, Inc.				5.5000		02/15/26		1,554,180

	1,250,000	Service Properties Trust				7.5000		09/15/25		1,355,837

	500,000	Service Properties Trust				5.5000		12/15/27		513,860


										6,533,439


		REAL ESTATE OWNERS & DEVELOPERS — 2.4%

	3,749,000	Howard Hughes Corporation (The)^(b)				4.3750		02/01/31		3,792,039


		RETAIL - CONSUMER STAPLES — 0.1%

	100,000	Ingles Markets, Inc.^(b)				4.0000		06/15/31		100,894


		RETAIL - DISCRETIONARY — 2.7%

	1,550,000	Beacon Roofing Supply, Inc.^(b)				4.1250		05/15/29		1,551,526

	500,000	Ken Garff Automotive, LLC^(b)				4.8750		09/15/28		501,385

	250,000	Lithia Motors, Inc.^(b)				3.8750		06/01/29		255,631

	500,000	Lithia Motors, Inc.^(b)				4.3750		01/15/31		534,468

	1,300,000	Sonic Automotive, Inc.^(b)				4.8750		11/15/31		1,314,567


										4,157,577


		SOFTWARE — 1.3%

	1,000,000	Crowdstrike Holdings, Inc.				3.0000		02/15/29		989,055

	1,000,000	Twilio, Inc.				3.6250		03/15/29		1,010,390


										1,999,445


		SPECIALTY FINANCE — 14.4%

	500,000	AerCap Global Aviation Trust^(a),(b)		ICE LIBOR USD 3 Month + 4.300%		6.5000		06/15/45		540,713

	3,000,000	Air Lease Corporation^(a)		H15T5Y + 4.076%		4.6500		06/15/70		3,116,249

	1,000,000	Alliance Data Systems Corp.^(b)				7.0000		01/15/26		1,051,095

	2,500,000	Burford Capital Global Finance, LLC^(b)				6.2500		04/15/28		2,659,899

	115,000	Freedom Mortgage Corporation^(b)				8.1250		11/15/24		116,557

	786,000	Freedom Mortgage Corporation^(b)				8.2500		04/15/25		805,485

	500,000	Freedom Mortgage Corporation^(b)				7.6250		05/01/26		511,150

	1,000,000	Freedom Mortgage Corporation^(b)				6.6250		01/15/27		978,540

	2,955,000	ILFC E-Capital Trust I^(a),(b)		N/A + 1.550%		3.3700		12/21/65		2,438,555

	1,500,000	ILFC E-Capital Trust II^(a),(b)		N/A + 1.800%		3.6200		12/21/65		1,286,250

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Spread	Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		SPECIALTY FINANCE — 14.4% (Continued)

	750,000	Ladder Capital Finance Holdings LLLP / Ladder^(b)			4.2500		02/01/27	$	755,753

	1,700,000	LFS Topco, LLC^(b)			5.8750		10/15/26		1,757,018

	1,000,000	MGIC Investment Corporation			5.2500		08/15/28		1,051,415

	500,000	Nationstar Mortgage Holdings, Inc. Series 144A^(b)			6.0000		01/15/27		521,398

	750,000	Nationstar Mortgage Holdings, Inc.^(b)			5.5000		08/15/28		766,133

	750,000	Nationstar Mortgage Holdings, Inc.^(b)			5.7500		11/15/31		747,304

	300,000	Navient Corporation			7.2500		09/25/23		323,550

	3,000,000	New Residential Investment Corporation^(b)			6.2500		10/15/25		3,016,409

	125,000	PHH Mortgage Corporation^(b)			7.8750		03/15/26		129,369


									22,572,842


		STEEL — 2.1%

	1,500,000	Allegheny Technologies, Inc.			5.1250		10/01/31		1,513,410

	1,759,000	TMS International Corporation^(b)			6.2500		04/15/29		1,752,676


									3,266,086


		TECHNOLOGY HARDWARE — 1.5%

	1,000,000	CommScope, Inc.^(b)			8.2500		03/01/27		1,028,070

	750,000	CommScope, Inc.^(b)			7.1250		07/01/28		737,936

	500,000	TTM Technologies, Inc.^(b)			4.0000		03/01/29		497,633


									2,263,639


		TECHNOLOGY SERVICES — 0.8%

	260,000	Fair Isaac Corporation^(b)			4.0000		06/15/28		267,613

	250,000	HealthEquity, Inc.^(b)			4.5000		10/01/29		247,813

	500,000	MSCI, Inc.^(b)			3.6250		11/01/31		519,467

	250,000	MSCI, Inc.^(b)			3.2500		08/15/33		253,201


									1,288,094


		TRANSPORTATION & LOGISTICS — 0.8%

	1,250,000	First Student Bidco, Inc. / First Transit Parent,^(b)			4.0000		07/31/29		1,216,894


		TRANSPORTATION EQUIPMENT — 0.4%

	500,000	Trinity Industries, Inc.			4.5500		10/01/24		524,555

	125,000	Wabash National Corporation^(b)			4.5000		10/15/28		126,406


									650,961


		WHOLESALE - CONSUMER STAPLES — 1.2%

	1,500,000	United Natural Foods, Inc.^(b)			6.7500		10/15/28		1,608,412

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 90.4% (Continued)

		WHOLESALE - CONSUMER STAPLES — 1.2% (Continued)

	295,000	US Foods, Inc.^(b)		4.6250		06/01/30	$	298,437


								1,906,849


		TOTAL CORPORATE BONDS (Cost $137,972,607)						140,887,081


Shares

		SHORT-TERM INVESTMENTS — 6.0%

		MONEY MARKET FUNDS - 6.0%

	9,359,328	Fidelity Government Portfolio, CLASS I, 0.01% (Cost $9,359,328)^(c)						9,359,328


		TOTAL INVESTMENTS - 98.7% (Cost $150,822,400)					$	153,842,659

		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.3%						2,066,850


		NET ASSETS - 100.0%					$	155,909,509


LLC		- Limited Liability Company
LP		- Limited Partnership
LTD		- Limited Company
MSCI		- Morgan Stanley Capital International
REIT		- Real Estate Investment Trust

H15T5Y		US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
ICE LIBOR USD 3
Month		ICE LIBOR USD 3 Month

^(a)	Variable rate security; the rate shown represents the rate on December 31, 2021.

^(b)

Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2021 the total market value of 144A securities is 114,460,675 or 73.4% of net assets.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		CLOSED END FUNDS — 4.5%

		COMMODITY - 4.5%

	369,000	Sprott Physical Silver Trust^(a)	$	2,959,380


		TOTAL CLOSED END FUNDS (Cost $3,475,241)

		COMMON STOCKS — 43.6%

		AEROSPACE & DEFENSE - 0.2%

	4,499	Suez S.A.		101,353


		AUTOMOTIVE - 0.1%

	2,400	NGK Insulators Ltd.		40,516


		CHEMICALS - 2.9%

	5,103	CF Industries Holdings, Inc.		361,190

	1,297	Chemours Company (The)		43,527

	6,651	Corteva, Inc.		314,459

	1,605	FMC Corporation		176,373

	3,251	K+S A.G.^(a)		56,140

	6,226	Mosaic Company (The)		244,620

	6,826	Nutrien Ltd.		513,315

	682	OCI N.V.^(a)		17,854

	1,463	Sasol Ltd. - ADR^(a)		23,993

	3,679	Sociedad Quimica y Minera de Chile S.A. - ADR		185,532

				1,937,003


		CONSTRUCTION MATERIALS - 0.2%

	3,200	AGC, Inc.		152,560


		DIVERSIFIED INDUSTRIALS - 0.1%

	638	Pentair plc		46,593


		ELECTRIC UTILITIES - 0.2%

	865	Neoen S.A.^(a)		37,537

	503	Ormat Technologies, Inc.		39,888

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		ELECTRIC UTILITIES - 0.2% (Continued)

	1,700	RENOVA, Inc.^(a)	$	30,736

				108,161


		ELECTRICAL EQUIPMENT - 0.1%

	237	Watts Water Technologies, Inc., Class A		46,018


		FOOD - 0.9%

	428	Bakkafrost P/F		28,325

	1,762	Beyond Meat, Inc.^(a)		114,812

	8,982	BRF S.A. - ADR^(a)		36,736

	545	Cal-Maine Foods, Inc.		20,160

	948	Darling Ingredients, Inc.^(a)		65,687

	1,365	Ingredion, Inc.		131,913

	1,100	Maple Leaf Foods, Inc.		25,481

	600	Morinaga Milk Industry Company Ltd.		28,449

	4,700	Nippon Suisan Kaisha Ltd.		22,162

	1,279	Pilgrim’s Pride Corporation^(a)		36,068

	554	Sanderson Farms, Inc.		105,858

				615,651


		FORESTRY, PAPER & WOOD PRODUCTS - 0.1%

	600	Canfor Corporation^(a)		15,229

	3,200	Sumitomo Forestry Company Ltd		61,857

				77,086


		GAS & WATER UTILITIES - 1.0%

	403	American States Water Company		41,686

	671	American Water Works Company, Inc.		126,725

	437	California Water Service Group		31,403

	5,672	Cia de Saneamento Basico do Estado de Sao Paulo - ADR		41,632

	539	Essential Utilities, Inc.		28,939

	885	Pennon Group plc		13,989

	1,154	Severn Trent plc		46,063

	1,944	United Utilities Group plc		28,674

	8,059	Veolia Environnement S.A.		295,653

				654,764

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		HEALTH CARE FACILITIES & SERVICES - 0.4%

	48,754	Brookdale Senior Living, Inc.^(a)	$	251,571


		INTERNET MEDIA & SERVICES - 0.0%^(b)

	944	PhosAgro PJSC - ADR		20,372


		MACHINERY - 1.3%

	1,078	AGCO Corporation		125,070

	7,592	CNH Industrial N.V.		147,513

	1,028	Deere & Company		352,491

	291	Evoqua Water Technologies Corporation^(a)		13,604

	11,700	Kubota Corporation		259,441

	700	Kurita Water Industries Ltd.		33,190

				931,309


		METALS & MINING - 5.1%

	1,501	Agnico Eagle Mines Ltd.		79,763

	8,525	Alamos Gold, Inc., Class A		65,557

	2,243	Anglo American plc		91,627

	2,708	AngloGold Ashanti Ltd. - ADR		56,814

	1,391	Antofagasta plc		25,218

	47,220	B2Gold Corporation		185,576

	2,748	BHP Group Ltd. - ADR		165,842

	234	BHP Group plc - ADR		13,986

	2,352	Cameco Corporation		51,297

	3,247	Cia de Minas Buenaventura S.A.A - ADR^(a)		23,768

	964	Cleveland-Cliffs, Inc.^(a)		20,986

	413	Compass Minerals International, Inc.		21,096

	3,700	Endeavour Mining plc		81,226

	6,434	First Majestic Silver Corporation		71,482

	2,600	First Quantum Minerals Ltd.		62,306

	542	Franco-Nevada Corporation		74,953

	5,447	Freeport-McMoRan, Inc.		227,304

	8,858	Gold Fields Ltd. - ADR		97,349

	14,688	Hecla Mining Company		76,671

	2,400	Hudbay Minerals, Inc.		17,404

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		METALS & MINING - 5.1% (Continued)

	9,500	Ivanhoe Mines Ltd.^(a)	$	77,615

	21,177	Kinross Gold Corporation		123,038

	4,202	Kirkland Lake Gold Ltd.		176,343

	1,334	Lithium Americas Corporation^(a)		38,846

	3,123	Livent Corporation^(a)		76,139

	10,100	Lundin Mining Corporation		78,999

	619	MMC Norilsk Nickel PJSC - ADR		19,146

	4,743	Newmont Corporation		294,162

	3,416	Pan American Silver Corporation		85,298

	3,028	Rio Tinto plc - ADR		202,694

	730	Royal Gold, Inc.		76,803

	1,144	Southern Copper Corporation		70,596

	5,543	SSR Mining, Inc.		98,111

	2,300	Sumitomo Metal Mining Company Ltd.		86,883

	2,143	Teck Resources Ltd., Class B		61,805

	3,323	Turquoise Hill Resources Ltd.^(a)		54,663

	10,403	Vale S.A. - ADR		145,850

	98	Wheaton Precious Metals Corporation		4,207

	8,737	Yamana Gold, Inc.		36,870

				3,318,293


		OIL & GAS PRODUCERS - 5.5%

	4,673	APA Corporation		125,657

	8,400	ARC Resources Ltd.		76,475

	4,770	Canadian Natural Resources Ltd.		201,533

	1,701	CNX Resources Corporation^(a)		23,389

	3,626	ConocoPhillips		261,724

	4,251	Continental Resources, Inc.		190,275

	6,670	Coterra Energy, Inc.		126,730

	24,600	Crescent Point Energy Corporation		131,457

	475	Devon Energy Corporation		20,924

	2,248	Diamondback Energy, Inc.		242,446

	1,026	Ecopetrol S.A. - ADR		13,225

	3,217	EOG Resources, Inc.		285,765

	127	EQT Corporation^(a)		2,770

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		OIL & GAS PRODUCERS - 5.5% (Continued)

	24,000	Inpex Corporation	$	208,832

	2,222	LUKOIL PJSC - ADR		198,870

	1,380	Magnolia Oil & Gas Corporation		26,041

	6,109	Marathon Oil Corporation		100,310

	2,468	Matador Resources Company		91,119

	306	Novatek PJSC - ADR		71,665

	7,365	Occidental Petroleum Corporation		213,511

	1,141	Ovintiv, Inc.		38,452

	2,800	Parex Resources, Inc.^(a)		47,902

	2,370	PDC Energy, Inc.		115,609

	3,018	Petroleo Brasileiro S.A. - ADR		33,138

	927	Pioneer Natural Resources Company		168,603

	2,695	Range Resources Corporation^(a)		48,052

	8,242	Rosneft Oil Company PJSC - ADR		66,282

	312	SM Energy Company		9,198

	9,131	Southwestern Energy Company^(a)		42,550

	7,600	Suncor Energy, Inc.		190,429

	5,400	Tourmaline Oil Corporation		174,592

				3,547,525


		OIL & GAS SERVICES & EQUIPMENT - 0.8%

	1,046	Baker Hughes Company		25,167

	2,561	ChampionX Corporation^(a)		51,758

	6,953	Halliburton Company		159,015

	3,172	Helmerich & Payne, Inc.		75,176

	2,874	NOV, Inc.		38,943

	3,391	Patterson-UTI Energy, Inc.		28,654

	4,683	Schlumberger N.V.		140,256

	733	TechnipFMC plc^(a)		4,363

	5,132	TechnipFMC plc^(a)		30,381

				553,713


		REAL ESTATE INVESTMENT TRUSTS - 22.1%

	12,800	Alexander & Baldwin, Inc.		321,152

	10,000	American Assets Trust, Inc.		375,300

	6,000	American Campus Communities, Inc.		343,740

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		REAL ESTATE INVESTMENT TRUSTS - 22.1% (Continued)

	13,000	American Homes 4 Rent, Class A	$	566,930

	2,000	American Tower Corporation		585,000

	12,000	Americold Realty Trust		393,480

	18,500	Armada Hoffler Properties, Inc.		281,570

	1,700	AvalonBay Communities, Inc.		429,403

	3,200	Camden Property Trust		571,776

	10,000	Cousins Properties, Inc.		402,800

	4,500	Crown Castle International Corporation		939,330

	4,900	CTO Realty Growth, Inc.		300,958

	1,200	Equinix, Inc.		1,015,008

	875	Essex Property Trust, Inc.		308,201

	12,700	Getty Realty Corporation		407,543

	7,800	Healthcare Realty Trust, Inc.		246,792

	13,000	InvenTrust Properties Corporation		354,380

	12,700	Invitation Homes, Inc.		575,818

	2,800	Life Storage, Inc.		428,904

	11,000	Plymouth Industrial REIT, Inc.		352,000

	2,332	PotlatchDeltic Corporation		140,433

	7,300	Prologis, Inc.		1,229,028

	1,575	Public Storage		589,932

	690	Rayonier, Inc.		27,848

	25,000	Sabra Health Care REIT, Inc.		338,500

	2,250	SBA Communications Corporation		875,295

	20,000	SITE Centers Corporation		316,600

	1,730	Sun Communities, Inc.		363,248

	12,200	Ventas, Inc.		623,664

	7,900	Welltower, Inc.		677,583

	1,726	Weyerhaeuser Company		71,077

				14,453,293


		RENEWABLE ENERGY - 1.1%

	3,523	Array Technologies, Inc.^(a)		55,276

	975	Atlantica Sustainable Infrastructure plc		34,866

	6,515	Ballard Power Systems, Inc.^(a)		81,828

	3,048	Daqo New Energy Corporation - ADR^(a)		122,895

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 43.6% (Continued)

		RENEWABLE ENERGY - 1.1% (Continued)

	501	Enphase Energy, INC.^(a)	$	91,654

	438	First Solar, Inc.^(a)		38,176

	1,733	Green Plains, Inc.^(a)		60,239

	1,300	GS Yuasa Corporation		28,878

	1,754	Plug Power, Inc.^(a)		49,515

	1,877	Renewable Energy Group, Inc.^(a)		79,660

	183	SolarEdge Technologies, Inc.^(a)		51,344

	259	Varta A.G.		33,724

				728,055


		STEEL - 0.9%

	1,575	ArcelorMittal S.A. - ADR		50,132

	12,813	Cia Siderurgica Nacional S.A. - ADR		56,890

	15,931	Gerdau S.A. - ADR		78,381

	2,300	Hitachi Metals Ltd.^(a)		42,563

	3,900	JFE Holdings, Inc.		49,683

	3,100	Kobe Steel Ltd.		15,533

	6,400	Nippon Steel Corporation		104,402

	475	Novolipetskiy Metallurgicheskiy Kombinat PAO - ADR		14,022

	782	Severstal PAO - ADR		16,844

	1,979	Ternium S.A. - ADR		86,126

	2,893	United States Steel Corporation		68,882

				583,458


		TELECOMMUNICATIONS - 0.3%

	7,020	Switch, Inc., Class A		201,053


		WHOLESALE - CONSUMER STAPLES - 0.3%

	1,862	Bunge Ltd.		173,836


		TOTAL COMMON STOCKS (Cost $22,839,480)		28,542,183

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		EXCHANGE-TRADED FUNDS — 1.7%

		SPECIALTY - 1.7%

	56,000	Invesco DB US Dollar Index Bearish Fund^(a)	$	1,133,440


		TOTAL EXCHANGE-TRADED FUNDS (Cost $1,207,768)

		PRECIOUS METALS - PHYSICAL HOLDING — 17.1%

		PRECIOUS METAL - 17.1%

	6,143	GOLD BARS ^(a)		11,235,690


		TOTAL PRECIOUS METALS - PHYSICAL HOLDING (Cost $7,240,876)


Principal			Coupon Rate
Amount ($)			(%)		Maturity

		U.S. GOVERNMENT & AGENCIES — 26.3%

		U.S. TREASURY INFLATION PROTECTED — 26.3%

	975,000	United States Treasury Inflation Indexed Bonds		0.6250		01/15/24		1,230,284

	700,000	United States Treasury Inflation Indexed Bonds		2.3750		01/15/25		1,170,163

	645,000	United States Treasury Inflation Indexed Bonds		2.0000		01/15/26		1,040,606

	805,000	United States Treasury Inflation Indexed Bonds		2.3750		01/15/27		1,334,364

	1,495,000	United States Treasury Inflation Indexed Bonds		0.5000		01/15/28		1,877,338

	1,250,000	United States Treasury Inflation Indexed Bonds		1.7500		01/15/28		1,981,447

	1,800,000	United States Treasury Inflation Indexed Bonds		0.8750		01/15/29		2,282,356

	1,200,000	United States Treasury Inflation Indexed Bonds		2.5000		01/15/29		1,978,113

	2,160,000	United States Treasury Inflation Indexed Bonds		0.1250		01/15/31		2,572,975

	880,000	United States Treasury Inflation Indexed Bonds		2.1250		02/15/41		1,723,998


		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $16,117,929)						17,191,644


Shares

		SHORT-TERM INVESTMENTS — 6.7%

	4,425,608	Fidelity Government Portfolio, Class I, 0.01% (Cost $4,425,608)⁽c)						4,425,608


		TOTAL INVESTMENTS - 99.9% (Cost $55,306,902)					$	65,487,945

		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%						92,168


		NET ASSETS - 100.0%					$	65,580,113

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


ADR		- American Depositary Receipt
LTD		- Limited Company
NV		- Naamioze Vennootschap
PJSC		- Public Joint-Stock Company
PLC		- Public Limited Company
REIT		- Real Estate Investment Trust
S.Aa		- Société Anonyme

^(a)	Non-income producing security.

^(b)	Percentage rounds to less than 0.1%.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN STRATEGIC GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		EXCHANGE-TRADED FUNDS — 57.1%

		EQUITY - 57.1%

	136,300	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	3,673,271

	313,661	Timothy Plan International ETF^(a)		9,130,672

	277,700	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		7,559,744

	108,531	Timothy Plan US Small Cap Core ETF^(a)		3,856,910

		TOTAL EXCHANGE-TRADED FUNDS (Cost $20,936,865)		24,220,597


		OPEN END FUNDS — 40.4%

		EQUITY - 7.9%

	262,008	Timothy Plan International Fund, Class A^(a)		3,364,177


		FIXED INCOME - 23.4%

	707,820	Timothy Plan Fixed Income Fund, Class A^(a)		7,354,249

	258,262	Timothy Plan High Yield Bond Fund, Class A^(a)		2,538,714

				9,892,963


		MIXED ALLOCATION - 9.1%

	271,374	Timothy Plan Defensive Strategies Fund, Class A^(a)		3,845,368


		TOTAL OPEN END FUNDS (Cost $15,778,605)		17,102,508


		SHORT-TERM INVESTMENTS — 2.5%

		MONEY MARKET FUNDS - 2.5%

	1,043,984	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,043,984)^(b)		1,043,984


		TOTAL INVESTMENTS - 100.0% (Cost $37,759,454)	$	42,367,089

		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(20,537	)


		NET ASSETS - 100.0%	$	42,346,552


ETF		- Exchange-Traded Fund

^(a)	Affiliated Company

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN CONSERVATIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		EXCHANGE-TRADED FUNDS — 39.5%

		EQUITY - 39.5%

	90,800	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	2,447,051

	229,444	Timothy Plan International ETF^(a)		6,679,115

	299,400	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		8,150,476

	106,123	Timothy Plan US Small Cap Core ETF^(a)		3,771,336

		TOTAL EXCHANGE-TRADED FUNDS (Cost $18,163,848)		21,047,978


		OPEN END FUNDS — 57.3%

		EQUITY - 5.5%

	226,576	Timothy Plan International Fund, Class A^(a)		2,909,242


		FIXED INCOME - 44.7%

	1,958,684	Timothy Plan Fixed Income Fund, Class A^(a)		20,350,722

	351,919	Timothy Plan High Yield Bond Fund, Class A^(a)		3,459,366

				23,810,088


		MIXED ALLOCATION - 7.1%

	265,491	Timothy Plan Defensive Strategies Fund, Class A^(a)		3,762,013


		TOTAL OPEN END FUNDS (Cost $28,996,488)		30,481,343


		SHORT-TERM INVESTMENTS — 3.3%

		MONEY MARKET FUNDS - 3.3%

	1,732,940	Fidelity Government Portfolio, Class I, 0.01% (Cost $1,732,940)^(b)		1,732,940


		TOTAL INVESTMENTS - 100.1% (Cost $48,893,276)	$	53,262,261

		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(32,495	)


		NET ASSETS - 100.0%	$	53,229,766


ETF		- Exchange-Traded Fund

^(a)	Affiliated Company

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.0%

		ADVERTISING & MARKETING - 0.3%

	26,000	Tremor International Ltd. - ADR^(a)	$	393,900


		AEROSPACE & DEFENSE - 2.5%

	18,001	Elbit Systems Ltd.		3,134,514

	31,000	RADA Electronic Industries Ltd.^(a)		292,020

				3,426,534


		APPAREL & TEXTILE PRODUCTS - 4.0%

	24,063	Delta Galil Industries Ltd.		1,654,505

	21,392	Fox Wizel Ltd.		3,848,278

				5,502,783


		BANKING - 16.9%

	112,000	Bank Hapoalim BM - ADR		5,688,480

	629,000	Bank Leumi Le-Israel BM		6,760,072

	58,300	First International Bank Of Israel Ltd.		2,425,733

	602,000	Israel Discount Bank Ltd., Class A		4,050,212

	105,000	Mizrahi Tefahot Bank Ltd.		4,048,323

				22,972,820


		BIOTECH & PHARMA - 0.9%

	490,000	Enlight Renewable Energy Ltd.^(a)		1,205,006


		CHEMICALS - 2.3%

	319,902	ICL Group Ltd.		3,093,452


		CONSTRUCTION MATERIALS - 0.6%

	178,000	Inrom Construction Industries Ltd.		881,879


		E-COMMERCE DISCRETIONARY - 0.9%

	20,100	Global-e Online Ltd.^(a)		1,274,139


		ELECTRIC UTILITIES - 1.8%

	31,700	Ormat Technologies, Inc.		2,513,839

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.0% (Continued)

		FOOD - 1.2%

	50,500	Strauss Group Ltd.	$	1,573,866


		HEALTH CARE FACILITIES & SERVICES - 3.2%

	12,769	Danel Adir Yeoshua Ltd.		2,888,246

	1,575,013	Novolog Ltd.		1,502,446

				4,390,692


		HOME & OFFICE PRODUCTS - 2.1%

	116,585	Maytronics Ltd.		2,876,792


		INSTITUTIONAL FINANCIAL SERVICES - 1.8%

	453,685	Tel Aviv Stock Exchange Ltd.		2,447,427


		INSURANCE - 4.9%

	184,000	Harel Insurance Investments & Financial Services		2,089,243

	1,230,000	Migdal Insurance & Financial Holdings Ltd.		2,027,737

	200,400	Phoenix Holdings Ltd. (The)^(b)		2,590,314

				6,707,294


		INTERNET MEDIA & SERVICES - 1.4%

	11,600	Fiverr International Ltd.^(a)		1,318,920

	31,100	SimilarWeb Ltd.^(a)		557,001

				1,875,921


		LEISURE FACILITIES & SERVICES - 1.2%

	15,800	Fattal Holdings 1998 Ltd.^(a)		1,595,026


		MEDICAL EQUIPMENT & DEVICES - 0.8%

	8,600	Inmode Ltd.^(a)		606,988

	7,100	Novocure Ltd.^(a)		533,068

				1,140,056


		OIL & GAS PRODUCERS - 4.5%

	62,968	Energean plc^(a)		729,204

	60,000	Energean plc^(a)		709,999

	5,600	Israel Corp Ltd. (The)^(a)		2,419,997

	2,000,000	Oil Refineries Ltd.^(a)		574,476

	7,000	Paz Oil Company Ltd.^(a)		869,715

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.0% (Continued)

		OIL & GAS PRODUCERS - 4.5% (Continued)

	1,425,000	Ratio Oil Exploration 1992, L.P.^(a)	$	772,386

				6,075,777


		REAL ESTATE INVESTMENT TRUSTS - 1.5%

	284,000	Reit 1 Ltd.		2,027,529


		REAL ESTATE OWNERS & DEVELOPERS - 12.5%

	125,000	Alony Hetz Properties & Investments Ltd.		2,326,581

	176,000	Amot Investments Ltd.		1,429,533

	31,000	Azrieli Group Ltd.		2,958,168

	160,000	Bayside Land Corporation		1,974,039

	40,000	Elco Ltd.		2,943,066

	175,000	Gazit-Globe Ltd.		1,382,615

	16,380	Melisron Ltd.^(a)		1,526,173

	593,430	Mivne Real Estate KD Ltd.		2,551,116

				17,091,291


		RENEWABLE ENERGY - 1.5%

	236,360	Energix-Renewable Energies Ltd.		1,006,223

	3,600	SolarEdge Technologies, Inc.^(a)		1,010,052

				2,016,275


		RETAIL - CONSUMER STAPLES - 2.6%

	16,700	Rami Levy Chain Stores Hashikma Marketing 2006		1,251,802

	210,000	Shufersal Ltd.		1,747,526

	27,315	Victory Supermarket Chain Ltd.		584,231

				3,583,559


		SEMICONDUCTORS - 6.3%

	39,000	Nova Measuring Instruments Ltd.^(a)		5,713,500

	74,423	Tower Semiconductor Ltd.^(a)		2,953,105

				8,666,605


		SOFTWARE - 13.0%

	13,100	CyberArk Software Ltd.^(a)		2,269,968

	33,435	Hilan Ltd.		2,239,814

	1,900	Monday.com Ltd.^(a)		586,568

	21,100	Nice Ltd. - ADR^(a)		6,405,960

	60,000	One Software Technologies Ltd.		1,193,291

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Shares			Fair Value

		COMMON STOCKS — 96.0% (Continued)

		SOFTWARE - 13.0% (Continued)

	45,300	Sapiens International Corp N.V.	$	1,560,585

	46,500	Varonis Systems, Inc.^(a)		2,268,270

	25,500	Verint Systems, Inc.^(a)		1,339,005

				17,863,461


		TECHNOLOGY HARDWARE - 2.6%

	22,800	AudioCodes Ltd.		792,072

	18,200	Kornit Digital Ltd.^(a)		2,770,950

				3,563,022


		TECHNOLOGY SERVICES - 2.6%

	86,783	Magic Software Enterprises Ltd.		1,816,368

	56,210	Matrix IT Ltd.		1,705,769

				3,522,137


		WHOLESALE - DISCRETIONARY - 2.1%

	20,300	Tadiran Holdings Ltd.		2,837,200


		TOTAL COMMON STOCKS (Cost $61,944,483)		131,118,282


		SHORT-TERM INVESTMENTS — 4.0%

		MONEY MARKET FUNDS - 4.0%

	5,456,171	Fidelity Government Portfolio, Class I, 0.01% (Cost $5,456,171)^(c)		5,456,171


		TOTAL INVESTMENTS - 100.0% (Cost $67,400,654)	$	136,574,453

		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.0%		58,945


		NET ASSETS - 100.0%	$	136,633,398


ADR		- American Depositary Receipt
LP		- Limited Partnership
LTD		- Limited Company
NV		- Naamioze Vennootschap
PLC		- Public Limited Company
REIT		- Real Estate Investment Trust

^(a)	Non-income producing security.

^(b)	The value of this security has been determined in good faith under policies of the Board of Trustees.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2021.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

DECEMBER 31, 2021


Diversification of Assets

Country		% of Net Assets

Israel		88.2%

United States		5.2%

Cayman Islands		1.1%

United Kingdom		1.1%

Jersey		0.4%


Total		96.0%

Money Market Funds		4.0%

Other Assets Less Liabilities - Net		0.0%


Grand Total		100.0%

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2021


Shares							Fair Value

		EXCHANGE-TRADED FUNDS — 64.3%

		EQUITY - 64.3%

	295,000	Timothy Plan High Dividend Stock Enhanced ETF^(a)					$	7,950,221

	160,000	Timothy Plan High Dividend Stock ETF^(a)						5,200,144

		TOTAL EXCHANGE-TRADED FUNDS (Cost $11,394,806)						13,150,365


Principal Amount ($)			Coupon Rate (%)		Maturity

		CORPORATE BONDS — 6.9%

		CHEMICALS — 0.8%

	59,000	LYB International Finance BV		4.0000		07/15/23		61,645

	85,000	Nutrien Ltd.		4.0000		12/15/26		92,986


								154,631


		ELECTRIC UTILITIES — 0.9%

	110,000	American Electric Power Company, Inc.		3.2000		11/13/27		116,187

	45,000	National Rural Utilities Cooperative Finance		2.9500		02/07/24		46,626

	22,000	WEC Energy Group, Inc.		3.5500		06/15/25		23,304


								186,117


		ELECTRICAL EQUIPMENT — 0.3%

	60,000	ABB Finance USA, Inc.		2.8750		05/08/22		60,483


		GAS & WATER UTILITIES — 0.6%

	110,000	NiSource, Inc.		3.4900		05/15/27		118,151


		INSTITUTIONAL FINANCIAL SERVICES — 0.3%

	55,000	Cboe Global Markets, Inc.		3.6500		01/12/27		59,838


		MACHINERY — 0.2%

	35,000	Eaton Corporation		2.7500		11/02/22		35,653


		OIL & GAS PRODUCERS — 1.6%

	85,000	Columbia Pipeline Group, Inc.		4.5000		06/01/25		91,710

	115,000	Phillips 66 Partners, L.P.		3.6050		02/15/25		121,094

	110,000	Sunoco Logistics Partners Operations, L.P.		4.2500		04/01/24		115,496


								328,300

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		CORPORATE BONDS — 6.9% (Continued)

		REAL ESTATE INVESTMENT TRUSTS — 1.0%

	75,000	Digital Realty Trust, L.P.		3.7000		08/15/27	$	81,327

	120,000	Healthpeak Properties, Inc.		3.5000		07/15/29		130,237


								211,564


		RETAIL - CONSUMER STAPLES — 0.4%

	80,000	Dollar General Corporation		4.1250		05/01/28		88,965


		TRANSPORTATION & LOGISTICS — 0.8%

	55,000	Canadian Pacific Railway Company		2.9000		02/01/25		57,224

	110,000	CSX Corporation		3.2500		06/01/27		118,029


								175,253


		TOTAL CORPORATE BONDS (Cost $1,360,524)						1,418,955


		NON U.S. GOVERNMENT & AGENCIES — 1.3%

		GOVERNMENT GUARANTEED — 0.2%

	45,000	Kreditanstalt fuer Wiederaufbau		2.1250		06/15/22		45,355


		LOCAL AUTHORITY — 0.9%

	120,000	Province of Ontario Canada		2.5000		04/27/26		125,492

	45,000	Province of Quebec Canada		2.3750		01/31/22		45,067


								170,559


		SUPRANATIONAL — 0.2%

	45,000	European Investment Bank		2.3750		06/15/22		45,419


		TOTAL NON U.S. GOVERNMENT & AGENCIES (Cost $256,246)						261,333


		U.S. GOVERNMENT & AGENCIES — 26.9%

		AGENCY FIXED RATE — 9.0%

	65,649	Fannie Mae Pool FM5537		2.0000		01/01/36		67,300

	47,690	Fannie Mae Pool MA4316		2.5000		04/01/36		49,622

	22,634	Fannie Mae Pool MA4329		2.0000		05/01/36		23,212

	70,643	Fannie Mae Pool MA4333		2.0000		05/01/41		71,816

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		U.S. GOVERNMENT & AGENCIES — 26.9% (Continued)

		AGENCY FIXED RATE — 9.0% (Continued)

	24,751	Fannie Mae Pool MA4475		2.5000		10/01/41	$	25,567

	59,708	Fannie Mae Pool FM4053		2.5000		08/01/50		61,184

	63,524	Fannie Mae Pool CA8897		3.0000		02/01/51		66,891

	10,728	Fannie Mae Pool MA4258		3.5000		02/01/51		11,354

	23,616	Fannie Mae Pool FM6550		2.0000		03/01/51		23,665

	51,581	Fannie Mae Pool CB0855		3.0000		06/01/51		54,068

	44,880	Fannie Mae Pool CB0867		3.5000		06/01/51		47,658

	3,826	Ginnie Mae I Pool 723248		5.0000		10/15/39		4,434

	60,518	Ginnie Mae II Pool MA3376		3.5000		01/20/46		64,048

	45,185	Ginnie Mae II Pool MA3596		3.0000		04/20/46		47,153

	39,447	Ginnie Mae II Pool MA3663		3.5000		05/20/46		41,538

	51,702	Ginnie Mae II Pool MA3736		3.5000		06/20/46		54,467

	17,112	Ginnie Mae II Pool MA4509		3.0000		06/20/47		17,887

	49,644	Ginnie Mae II Pool MA4652		3.5000		08/20/47		52,145

	47,607	Ginnie Mae II Pool MA4719		3.5000		09/20/47		50,156

	37,837	Ginnie Mae II Pool MA6092		4.5000		08/20/49		39,975

	30,522	Ginnie Mae II Pool MA6156		4.5000		09/20/49		32,230

	53,444	Ginnie Mae II Pool BN2662		3.0000		10/20/49		55,418

	32,702	Ginnie Mae II Pool MA6221		4.5000		10/20/49		34,583

	28,066	Ginnie Mae II Pool MA6478		5.0000		02/20/50		30,209

	35,315	Ginnie Mae II Pool MA6544		4.5000		03/20/50		37,250

	22,699	Ginnie Mae II Pool MA6545		5.0000		03/20/50		24,374

	32,710	Ginnie Mae II Pool MA6600		3.5000		04/20/50		34,126

	30,136	Ginnie Mae II Pool MA6601		4.0000		04/20/50		31,852

	41,558	Ginnie Mae II Pool MA6603		5.0000		04/20/50		44,625

	61,659	Ginnie Mae II Pool MA7255		2.5000		03/20/51		63,258

	48,148	Ginnie Mae II Pool MA7370		4.0000		05/20/51		50,717

	48,162	Ginnie Mae II Pool MA7418		2.5000		06/20/51		49,411

	79,829	Ginnie Mae II Pool MA7419		3.0000		06/20/51		82,722

	63,281	Ginnie Mae II Pool MA7472		2.5000		07/20/51		64,921

	74,495	Ginnie Mae II Pool CE1974		3.0000		08/20/51		77,972

	84,564	Ginnie Mae II Pool CE1990		2.5000		09/20/51		86,834

	79,757	Ginnie Mae II Pool MA7705		2.5000		11/20/51		81,825

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2021


Principal Amount ($)			Coupon Rate (%)		Maturity		Fair Value

		U.S. GOVERNMENT & AGENCIES — 26.9% (Continued)

		AGENCY FIXED RATE — 9.0% (Continued)

	85,000	Ginnie Mae II Pool MA7768		3.0000		12/20/51	$	88,352


								1,844,819


		U.S. TREASURY NOTES — 17.9%

	595,000.	United States Treasury Note		2.250000		11/15/24		617,010

	580,000.	United States Treasury Note		2.000000		8/15/25		598,397

	475,000.	United States Treasury Note		0.625000		7/31/26		462,142

	615,000.	United States Treasury Note		1.250000		9/30/28		608,297

	755,000.	United States Treasury Note		1.250000		8/15/31		739,074

	335,000.	United States Treasury Note		1.750000		8/15/41		325,840

	290,000.	United States Treasury Note		2.000000		8/15/51		296,978


								3,647,738


		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $5,492,224)						5,492,557


Shares

		SHORT-TERM INVESTMENTS — 1.6%

		MONEY MARKET FUNDS - 1.6%

	329,939	Fidelity Government Portfolio, Class I, 0.01% (Cost $329,939)^(b)						329,939


		TOTAL INVESTMENTS - 101.0% (Cost $18,833,739)					$	20,653,149

		LIABILITIES IN EXCESS OF OTHER ASSETS - (1.0)%						(201,914	)


		NET ASSETS - 100.0%					$	20,451,235


ETF		- Exchange-Traded Fund
LP		- Limited Partnership
LTD		- Limited Company
REIT		- Real Estate Investment Trust

(a)	Affiliated Company.

(b)	Rate disclosed is the seven day effective yield as of December 31, 2021.